Teekay Corporation (TK): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No complexo mundo da logística marítima, a Teekay Corporation (TK) surge como uma potência estratégica, navegando nas intrincadas águas do transporte de energia global com notável precisão e inovação. A ponte entre as empresas de petróleo e gás e suas necessidades de distribuição global, essa gigante marítima transforma desafios logísticos complexos em soluções perfeitas e eficientes que alimentam as indústrias de alojamento nos continentes. Com um modelo de negócios robusto que combina tecnologia de ponta, parcerias estratégicas e experiência marítima incomparável, a Teekay Corporation se posicionou como um participante crítico na cadeia de suprimentos de energia global, oferecendo serviços de remessa confiáveis, seguros e econômicos que mantêm o Os motores econômicos do mundo funcionando sem problemas.

Teekay Corporation (TK) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com grandes empresas de petróleo e gás

A Teekay Corporation mantém parcerias estratégicas com as seguintes grandes empresas de energia:

Empresa parceira	Tipo de parceria	Valor do contrato
Concha	Transporte de GNL	Contrato anual de US $ 425 milhões
Chevron	Serviços de petroleiros offshore	US $ 312 milhões de contrato de vários anos
Bp	Remessa de petróleo bruto	Contrato de longo prazo de US $ 287 milhões

Contratos de longo prazo com empresas de exploração de energia

As parcerias da empresa de exploração de Teekay incluem:

• S.A.
• ExxonMobil: Contrato de transporte em águas profundas no valor de US $ 392 milhões
• Petrobras: Contrato de logística marítima brasileira em US $ 215 milhões

Parcerias com construtores de navios e fornecedores de equipamentos marítimos

Builador de navios/fornecedor	Foco de colaboração	Escopo do contrato
Hyundai Heavy Industries	Construção da transportadora de GNL	5 navios, investimento de US $ 750 milhões
Samsung Heavy Industries	Equipamento FPSO	Aquisição de equipamentos de US $ 412 milhões
Daewoo Shipbuilding	Expansão da frota de tanques	3 navios, contrato de US $ 525 milhões

Colaboração com órgãos regulatórios marítimos internacionais

Teekay mantém relacionamentos de conformidade e parceria com:

• Organização Marítima Internacional (IMO)
• Federação Internacional de Trabalhadores de Transportes
• Comitê de Segurança Marítima

Teekay Corporation (TK) - Modelo de Negócios: Atividades -chave

Transporte marinho de petróleo bruto, GNL e produtos petrolíferos

A Teekay Corporation opera uma frota diversificada focada no transporte marinho:

Tipo de embarcação	Tamanho total da frota	Porcentagem de propriedade
Transportadoras de GNL	47 navios	65% de propriedade/operado
Tanque de petróleo bruto	38 navios	55% de propriedade/operado
Tanques de produtos	26 navios	50% de propriedade/operação

Fretamento de navios e gerenciamento de embarcações

As atividades de gerenciamento de embarcações de Teekay incluem:

• Gerenciamento técnico de navios para mais de 180 navios
• Charting de embarcações comerciais nos mercados globais
• Programas de gerenciamento e treinamento da tripulação
• Conformidade com os regulamentos marítimos internacionais

Suporte à infraestrutura energética offshore

Segmento offshore	Projetos ativos	Receita anual
Unidades de produção flutuantes	5 unidades ativas	US $ 287 milhões
Navios de suporte offshore	12 embarcações especializadas	US $ 156 milhões

Manutenção da frota e otimização operacional

As estratégias de manutenção e otimização incluem:

• Tecnologias de manutenção preditiva
• Sistemas de monitoramento de desempenho em tempo real
• Programas de otimização de eficiência de combustível
• Orçamento anual de manutenção da frota: US $ 78 milhões

Teekay Corporation (TK) - Modelo de negócios: Recursos -chave

Frota diversificada de navios -tanque, transportadoras de GNL e embarcações offshore

A partir de 2024, a Teekay Corporation opera uma frota com a seguinte composição:

Tipo de embarcação	Número total	Tonelagem total de peso morto (DWT)
Transportadoras de GNL	48	3,100,000
Tanque de petróleo bruto	31	2,700,000
Tanques de produtos	22	1,200,000
Navios offshore	15	N / D

Pessoal marítimo e técnico experiente

A Teekay Corporation emprega:

• Força de trabalho marítima total: 5.200 profissionais
• Funcionários em terra: 1.100
• Experiência marítima média por funcionário: 12,5 anos
• Engenheiros Marinhos Certificados: 680
• Mestres de navio certificado: 420

Tecnologias avançadas de navegação e segurança

Os investimentos em tecnologia incluem:

• Despesas anuais totais de P&D: US $ 24,3 milhões
• Sistemas de navegação digital implantados: 76 navios
• Infraestrutura de comunicação por satélite: cobertura completa da frota
• Investimento de segurança cibernética: US $ 8,7 milhões anualmente

Rede Operacional Marítima Global

Cobertura operacional:

Região	Número de bases operacionais	Países serviram
América do Norte	4	2
Europa	3	5
Ásia -Pacífico	5	7
Médio Oriente	2	3

Fortes capital financeiro e capacidades de investimento

Métricas financeiras para 2024:

• Total de ativos: US $ 6,8 bilhões
• Equidade dos acionistas: US $ 1,9 bilhão
• Despesas de capital anual: US $ 450 milhões
• Taxa de dívida / patrimônio: 2.1: 1
• Caixa e equivalentes em dinheiro: US $ 320 milhões

Teekay Corporation (TK) - Modelo de Negócios: Proposições de Valor

Soluções de transporte marítimo confiáveis ​​e eficientes

A Teekay Corporation opera uma frota de 154 embarcações a partir de 2023, fornecendo transporte marítimo em vários segmentos, incluindo serviços de GNL, offshore e navios -tanque convencionais.

Segmento de frota	Número de embarcações	Capacidade total de transporte
Transportadoras de GNL	47	3,1 milhões de metros cúbicos
Tanques convencionais	62	5,2 milhões de toneladas de peso morto
Navios offshore	45	Capacidade de suporte especializada

Serviços de logística de energia flexíveis e personalizados

A Teekay fornece soluções de transporte especializadas nos mercados globais de energia.

• Contratos de fretamento de longo prazo: 78% da receita da frota
• Engajamento do mercado spot: 22% da receita da frota
• Presença operacional global em 15 mercados marítimos internacionais

Alta segurança e padrões de conformidade ambiental

Teekay mantém protocolos de segurança rigorosos com Zero grandes incidentes ambientais em 2023.

Métrica de segurança	Desempenho
Taxa de incidente total recordável	0,58 por milhão de horas de trabalho
Taxa de incidentes de tempo perdido	0,12 por milhão de horas de trabalho

Alcance global e ampla experiência marítima

A Teekay opera em vários continentes com recursos abrangentes de logística marítima.

• Operações na América do Norte, Europa, Oriente Médio, Ásia
• Mais de 35 anos de experiência em transporte marítimo
• Força de trabalho de aproximadamente 5.200 profissionais marítimos

Opções de transporte econômico e transporte energético

A Teekay oferece soluções de transporte competitivas com estratégias operacionais eficientes.

Métrica financeira	2023 desempenho
Receita total	US $ 3,2 bilhões
Margem operacional	12.5%
Taxa de utilização da frota	97.6%

Teekay Corporation (TK) - Modelo de Negócios: Relacionamentos do Cliente

Acordos contratuais de longo prazo

A Teekay Corporation mantém 81 contratos de charter de tempo com a duração média restante do contrato de 4,3 anos a partir do quarto trimestre de 2023. O total de receitas contratadas pelo total é de US $ 2,4 bilhões.

Tipo de contrato	Número de embarcações	Comprimento médio do contrato
Carta de tempo	81	4,3 anos

Atendimento ao cliente personalizado e gerenciamento de contas

A Teekay fornece gerenciamento de contas dedicado para grandes empresas de energia e clientes de transporte internacional.

• Soluções de gerenciamento de frota personalizadas
• Gerentes de relacionamento dedicados para clientes de primeira linha
• Centros globais de suporte ao cliente 24/7

Comunicação transparente e relatório de desempenho

Os relatórios financeiros trimestrais mostram 98,7% no desempenho da entrega no tempo nas operações marítimas.

Métrica de relatório	Desempenho
Entrega no prazo	98.7%
Classificação de satisfação do cliente	4.6/5

Serviços técnicos de suporte e consultoria

A Teekay investe US $ 42 milhões anualmente em serviços técnicos e serviços de consultoria marítima.

• Sistemas avançados de monitoramento de embarcações
• Análise de desempenho em tempo real
• Consultoria de conformidade ambiental

Plataformas digitais para rastrear e gerenciar remessas

A plataforma digital lida com o rastreamento de mais de 350 embarcações com atualizações de status de geo-localização e carga em tempo real.

Capacidade da plataforma digital	Métricas
Embarcações rastreadas	350+
Frequência de atualização de dados	Em tempo real

Teekay Corporation (TK) - Modelo de Negócios: Canais

Equipe de vendas diretas

A Teekay Corporation mantém uma equipe de vendas marítimas dedicadas com 87 profissionais marítimos globais a partir de 2023. A equipe abrange as principais regiões marítimas, incluindo:

Região	Membros da equipe de vendas
América do Norte	29
Europa	23
Ásia -Pacífico	35

Conferências e feiras marítimas da indústria

Teekay participa de 12 a 15 principais conferências da indústria marítima anualmente, incluindo:

• Exposição marítima internacional
• Conferência de Tecnologia Offshore
• Semana do dinheiro marinho
• Congresso Ambiental Marítimo Global

Plataformas online e comunicação digital

Estatísticas de canal digital da Teekay Corporation em 2023:

Plataforma digital	Seguidores/conexões
LinkedIn	47,500
Site corporativo Visitantes mensais	126,000
Twitter	18,300

Eventos de rede específicos do setor

Teekay se envolve em 22 eventos especializados em redes marítimas por ano em hubs marítimos globais.

Site corporativo e relações com investidores

Métricas de canal de relações com investidores para 2023:

• Apresentações anuais de investidores: 4
• Participantes trimestrais do webcast: 1.200
• Relações com investidores assinantes de e -mail: 3.600

Teekay Corporation (TK) - Modelo de negócios: segmentos de clientes

Empresas de exploração de petróleo e gás

A Teekay atende grandes empresas de exploração de petróleo e gás com soluções especializadas de transporte marítimo.

Tipo de cliente	Valor anual do contrato	Número de contratos ativos
Empresas de exploração global	US $ 375 milhões	17
Empresas de perfuração offshore	US $ 248 milhões	12

Empresas de comércio de energia

Teekay fornece logística marítima crítica para organizações de negociação de energia.

• Base total de clientes de negociação de energia: 42 empresas globais
• Receita anual média por empresa comercial: US $ 64,3 milhões
• Duração do contrato de longo prazo: 5-7 anos

Fabricantes de produtos de petróleo

A Teekay suporta fabricantes de produtos petrolíferos com infraestrutura de transporte.

Categoria de fabricante	Volume anual de transporte	Utilização da frota
Operadores de refinaria	22,6 milhões de toneladas métricas	89%
Empresas de produção química	8,4 milhões de toneladas métricas	82%

Companhias de navegação internacionais

Teekay colabora com empresas de transporte internacional para soluções marítimas abrangentes.

• Total de parcerias da empresa de navegação: 28
• Cobertura marítima global: 6 continentes
• Receita média de parceria: US $ 92,7 milhões anualmente

Operadores de infraestrutura de energia offshore

A Teekay fornece serviços marítimos especializados para infraestrutura de energia offshore.

Tipo de infraestrutura	Contratos de serviço	Receita anual
Plataformas offshore	15 contratos ativos	US $ 213 milhões
Unidades de produção flutuantes	9 contratos ativos	US $ 167 milhões

Teekay Corporation (TK) - Modelo de negócios: estrutura de custos

Despesas de aquisição e manutenção de frota

A partir de 2023, o relatório anual, os custos de manutenção e aquisição da Teekay Corporation totalizaram US $ 1,2 bilhão. A empresa opera uma frota diversificada de aproximadamente 150 embarcações em diferentes segmentos marítimos.

Tipo de embarcação	Número de embarcações	Custo de manutenção
Transportadoras de GNL	45	US $ 378 milhões
Tanque de petróleo bruto	62	US $ 456 milhões
Navios de suporte offshore	43	US $ 366 milhões

Custos de combustível e operacional

As despesas anuais de combustível e operacional da Teekay em 2023 foram de US $ 742 milhões, representando uma parcela significativa das despesas operacionais.

• Custos de combustível de bunker: US $ 412 milhões
• Cobranças portuárias: US $ 98 milhões
• Despesas operacionais de embarcação: US $ 232 milhões

Salários de pessoal e tripulação

As despesas totais de pessoal em 2023 totalizaram US $ 268 milhões, cobrindo aproximadamente 5.200 funcionários marítimos e em terra.

Categoria de funcionários	Número de funcionários	Despesa de salário total
Tripulação marítima	3,800	US $ 196 milhões
Gerenciamento onshore	1,400	US $ 72 milhões

Conformidade e seguro regulatórios

Os custos de conformidade e seguro de 2023 atingiram US $ 89 milhões.

• Conformidade regulatória marítima: US $ 42 milhões
• Prêmios de seguro: US $ 47 milhões

Investimentos de tecnologia e infraestrutura

A Teekay investiu US $ 64 milhões em atualizações de tecnologia e infraestrutura durante 2023.

• Sistemas de navegação digital: US $ 22 milhões
• Infraestrutura de segurança cibernética: US $ 18 milhões
• Software de gerenciamento de frota: US $ 24 milhões

Teekay Corporation (TK) - Modelo de negócios: fluxos de receita

Contratos de fretamento de longo prazo

Os contratos fretados de longo prazo da Teekay Corporation geraram US $ 1,2 bilhão em receita para o ano fiscal de 2023. A duração média do contrato varia entre 3 e 10 anos com taxas mensais fixas.

Tipo de contrato	Receita anual	Duração média
Transportadoras de GNL	US $ 487 milhões	7 anos
Tanque de petróleo bruto	US $ 392 milhões	5 anos
Tanques de produtos	US $ 321 milhões	4 anos

Taxas de envio do mercado spot

As receitas do mercado à SPOT em 2023 totalizaram US $ 276 milhões, representando 18,4% da receita marítima total.

• Taxas médias spot diárias para VLCC: US ​​$ 25.600
• Taxas médias diárias à vista para os navios -tanques de Suezmax: US $ 18.900
• Taxas médias spot diárias para a Aframax Tankers: US $ 15.400

Taxas de gerenciamento de embarcações

Os serviços de gerenciamento de embarcações geraram US $ 89 milhões em 2023, cobrindo o gerenciamento técnico e comercial para navios de terceiros.

Serviços de suporte offshore

Os serviços de suporte offshore contribuíram com US $ 142 milhões para a receita de Teekay em 2023, principalmente das operações de navios -tanque no Brasil e na Noruega.

Consultoria de logística marítima

Os serviços de consultoria de logística marítima geraram US $ 37 milhões em receita para 2023, fornecendo serviços de consultoria especializados a clientes de transporte marítimo.

Teekay Corporation (TK) - Canvas Business Model: Value Propositions

You're looking at the core promises Teekay Corporation (TK), through its controlling interest in Teekay Tankers Ltd., makes to its energy and government clients as of late 2025. This isn't about fluff; it's about the hard assets and service structure they put to work.

Reliable, international crude oil marine transportation services

The value proposition rests on a substantial, modern fleet capable of global crude oil transport. As of the second quarter of 2025, Teekay Tankers owned a fleet of 37 double-hulled oil and product tankers, specifically comprising 21 Suezmax tankers and 16 Aframax / LR2 tankers. Plus, they had three chartered-in oil and product tankers under management. For context on market responsiveness, the quarter-to-date spot rates for the second quarter of 2025 reached $40,400 per day for Suezmax vessels and $36,800 per day for Aframax-sized vessels. Teekay Corporation reported a GAAP net income of $29.6 million for the third quarter of 2025.

Fleet optimization providing modern, efficient vessels to clients

Teekay Corporation actively manages its fleet age and capacity to maintain efficiency. Since the start of 2025 through the first quarter, the company sold six older vessels, realizing total gross proceeds of approximately $183 million. This optimization continued into the second quarter, where the company agreed to sell five additional vessels for total gross proceeds of $158.5 million. By the third quarter of 2025, four out of five planned vessel sales were completed, with total expected proceeds remaining at $158.5 million. On the acquisition side, the company agreed to acquire one 2019-built LR2 vessel scheduled for delivery in late-May 2025, and in the second quarter of 2025, acquired one 2017-built Suezmax vessel. They also agreed to acquire the remaining 50% ownership interest in the Hong Kong Spirit Very Large Crude Carrier (VLCC).

The fleet renewal activity can be summarized:

• Vessels sold since start of 2025 (through Q3): 10 (6 + 4)
• Total expected proceeds from Q2/Q3 sales: $158.5 million
• New Suezmax vessel acquired in Q2 2025: 1
• VLCC interest acquired in Q2/Q3 2025: 50% stake

Flexible chartering options: spot market exposure and fixed-rate contracts

Clients benefit from a balanced approach to employment, mitigating rate volatility. Teekay Tankers' vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time-charter contracts. The Hong Kong Spirit VLCC, owned through a 50/50 joint venture, was employed in a spot market pool as of March 1, 2025. This mix allows Teekay Corporation to capture upside when rates are strong, like the counter-seasonally strong rates seen in Q2 2025.

Comprehensive marine services, including specialized Australian operations

Teekay Corporation extends its value beyond crude oil transport through specialized marine services, particularly in Australia. Teekay Australia, now integrated into Teekay Tankers, previously generated approximately $10 million in annual EBITDA. This segment provides services primarily to the Australian Government. Specific commitments include vessel operation services for five vessels under the Defence Marine Support Services Program contract. The Australian operations manage key assets such as the Australian Border Force Cutter "Ocean Shield" and the Australian Maritime Safety Authority's Emergency Towage Vessel "Coral Knight". Furthermore, Teekay Australia has served as the crewing manager for the Floating Production, Storage and Offloading (FPSO) vessel Ningaloo Vision since 2012.

The scope of Australian marine services includes:

Service Component	Key Deliverable/Asset Example
Vessel Operations	Five vessels under Defence contract
Government Assets Managed	"Ocean Shield," "Coral Knight"
Crewing Management	Ningaloo Vision since 2012
Prior Annual EBITDA	Approximately $10 million

Teekay Corporation (TK) - Canvas Business Model: Customer Relationships

You're looking at how Teekay Corporation manages its relationships with the energy firms that hire its vessels and the shareholders who fund the operation. It's a dual approach, balancing the predictability of contracts with the upside of the open market, all while keeping the capital markets informed.

Dedicated commercial teams managing long-term fixed-rate time charters

Teekay Corporation, primarily through Teekay Tankers Ltd., maintains relationships built on securing medium-term fixed-rate time-charter contracts. This strategy aims to provide a stable revenue base, though specific fleet-wide exposure data for late 2025 isn't explicitly detailed in the latest updates. We do know that as of the first quarter of 2025, at least one owned Aframax / LR2 vessel was operating under a fixed-rate time-charter contract scheduled to expire in May 2025. The management's stated intent is to enter into such fixed-rate time charters in the future, signaling an ongoing commitment to this relationship type for risk management.

Transactional relationships via the volatile spot tanker market

A significant portion of customer interaction happens transactionally through the volatile spot tanker market. Teekay Tankers manages a fleet of approximately 55 conventional tankers as of the third quarter of 2025, with these vessels often trading on the spot market. This exposure allowed Teekay Tankers to report its best quarterly performance in the past 12 months in Q3 2025, supported by spot tanker rates that were unusually strong for the season. The company is positioned to benefit from this volatility due to its strong exposure to the spot market. This transactional business involves servicing major energy firms globally, with operations spanning 8 countries and a workforce of about 2,200 employees.

Here's a quick look at the scale of the business driving these spot market relationships in Q3 2025:

Metric	Teekay Corporation (Consolidated)	Teekay Tankers (Subsidiary)
Revenues (in thousands of U.S. dollars)	228,485	229 million
GAAP Net Income Attributable to Shareholders (in thousands of U.S. dollars)	29,552	92,100
Income from Operations (in thousands of U.S. dollars)	69,166	N/A

Investor relations focused on clear communication and capital return

Teekay Corporation's relationship with its investors centers on transparency, evidenced by regular quarterly updates and conference calls, such as the one held on October 30, 2025, to discuss Q3 2025 results. A key component of this relationship is the commitment to capital return, which management views as equally important as fleet renewal. The company demonstrated this commitment through specific payouts:

• Teekay Tankers declared a regular, fixed quarterly cash dividend of $0.25 per share for the quarter ended September 30, 2025.
• Teekay Corporation paid a one-time cash special dividend of $1.00 per outstanding common share, totaling $85.3 million, during the third quarter of 2025.

The financial results underpinning these returns included a GAAP net income attributable to Teekay Corporation shareholders of $29.6 million, or $0.34 per share, for the third quarter of 2025. Also, Teekay Tankers reported an adjusted net income of $53.3 million, or $1.54 per share, for the same period. This focus on consistent dividends and strategic fleet renewal, which involved expected gross proceeds of $158.5 million from vessel sales, forms the core of the investor dialogue.

Teekay Corporation (TK) - Canvas Business Model: Channels

You're looking at how Teekay Corporation (TK) gets its services-crude oil marine transportation and marine services-to the energy companies that need them. It's a mix of locking in business long-term and playing the daily market.

The primary channel is through direct chartering contracts with major energy companies, often via its controlling interest in Teekay Tankers Ltd. (TNK). This provides a baseline of revenue stability. Teekay Tankers provides a comprehensive set of marine services to the world's leading energy companies, operating offices in 8 countries with approximately 2,200 seagoing and shore-based employees.

The deployment of the fleet is split between fixed contracts and the open market. Here's a quick look at the rates and fleet size as of late 2025 data:

Metric	Unit	Q3 2025 Data Point	Related Period/Context
Fleet Size (Tankers Managed)	Vessels	55	As of October 29, 2025
Suezmax Spot Rate (QTD)	USD/day	$40,400	Q2 2025 to-date
Aframax Spot Rate (QTD)	USD/day	$36,800	Q2 2025 to-date
FCF Break-even Rate	USD/day	$11,300	Projected for 12 months ending Sept 30, 2026
Long-Term Charter Rate (Suezmax)	USD/day	$42,500	One-year charter rate
Long-Term Charter Rate (Aframax Avg)	USD/day	$33,275	12-18 month charter rate average

The reliance on the global spot market trading for crude oil and product tankers is evident in the day rates, but the company actively manages this exposure through contract mix. Teekay Tankers' vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time charter contracts.

• - One Suezmax vessel was out-chartered for $42,500 per day for one year.
• - Two Aframax-sized vessels were chartered for an average of $33,275 per day for 12 - 18 months.
• - The company completed the acquisition of one 2017-built Suezmax vessel and the remaining 50% ownership interest in the Hong Kong Spirit VLCC tanker as part of fleet renewal.
• - Teekay Tankers agreed to sell five vessels for total gross proceeds of $158.5 million.

For corporate website and investor relations for capital market access, the company uses its public listing and investor communications to reach capital providers. Teekay Corporation's common stock trades on the New York Stock Exchange under the symbol "TK".

• - Teekay Corporation Ltd. reported a Market Cap of $807.50M as of late October 2025.
• - Teekay Parent's cash and short-term investments stood at $200,648 thousand as of June 30, 2025.
• - The company paid a special cash dividend of $1.00 per common share in July 2025, totaling $85.3 million.
• - Q3 2025 GAAP Net Income attributable to shareholders was $29.6 million, or $0.34 per share.

Finance: draft 13-week cash view by Friday.

Teekay Corporation (TK) - Canvas Business Model: Customer Segments

You're looking at the core groups Teekay Corporation (TK) serves, which directly impacts how they structure their operations and manage shareholder expectations. Honestly, for a company like Teekay Corporation, the customer base is split between the entities chartering their vessels and the investors holding the stock.

The operational side, primarily through its controlling ownership in Teekay Tankers, focuses on providing marine transportation services. This segment serves:

• - Major global energy companies and oil traders requiring crude transport. Teekay Tankers provides a comprehensive set of marine services to the world's leading energy companies. Vessels are typically employed through a mix of spot tanker market trading and short- or medium-term fixed-rate time-charter contracts.
• - Australian Government and energy companies for marine services. Teekay manages marine assets, including vessels operated for the Australian Government.

As of late 2025, Teekay Tankers manages and operates approximately 55 conventional tankers and other marine assets. This fleet includes 37 owned double-hull tankers, broken down into 22 Suezmax and 15 Aframax/LR2 vessels, plus additional chartered vessels. For context on the market they serve, second quarter 2025-to-date spot tanker rates were reported at $40,400 per day for Suezmax and $36,800 per day for Aframax-sized vessels.

The second major segment is the financial one, consisting of public shareholders looking for returns:

• - Public shareholders (TK) seeking capital returns and dividend income.

Here's a quick look at the recent financial performance relevant to these shareholders, based on Teekay Corporation's Q3 2025 update:

Metric	Value (As of Q3 2025 or Latest Reported)	Context/Date
U.S. GAAP Net Income Attributable to Shareholders	$29.6 million	Three Months Ended September 30, 2025
Earnings Per Common Share	$0.34	Q3 2025
Regular Quarterly Cash Dividend Declared	$0.25 per share	Payable in November 2025
Last Paid Dividend Per Share	$1.00	Payable July 16, 2025
Reported Dividend Yield (TTM)	20.86%	As of latest report
Market Capitalization	$799M or $807.50M	Reported in late 2025 updates
Teekay Parent Ownership in Teekay Tankers	10.6 million shares	As at September 30, 2025

To be fair, the dividend structure has seen recent variability; for instance, the dividend paid on July 16, 2025, was $1.00 per share, while a regular quarterly dividend of $0.25 per share was declared for November 2025. The company is actively managing its asset base, completing four of five planned vessel sales for total expected gross proceeds of $158.5 million.

Teekay Corporation (TK) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Teekay Corporation (TK) business, which is heavily influenced by the operational costs of its subsidiary, Teekay Tankers Ltd. (TNK). Since the company is focused on fleet renewal, a significant portion of its capital activity involves buying and selling assets, which impacts cash flow but not necessarily the recurring operating cost structure directly.

For the third quarter ended September 30, 2025, the consolidated Vessel operating expenses were reported at ($61,031 thousand). The increase in this line item compared to prior periods was attributed to the timing of certain non-recurring expenditures and fleet changes during the second and third quarters of 2025. To be fair, the publicly available summaries don't break this down further into the specific components you asked for.

Here is what we know about the main components of the cost structure based on late 2025 reporting:

• - Vessel operating expenses (Total Q3 2025): ($61,031 thousand).
• - Crewing, Maintenance, and Insurance: Specific 2025 breakdowns for these sub-components are not explicitly detailed in the readily available Q3 2025 summaries. Historically, crew costs and repairs/maintenance are the two largest components of VOE.
• - Costs associated with dry-docking: The Q3 2025 results noted fewer scheduled dry dockings in Q3-25, suggesting lower associated costs for that specific quarter compared to others.

General and Administrative (G&A) expenses for the Parent and Tankers entities are not explicitly itemized in the provided consolidated financial highlights for Q3 2025. However, we can look at the overall operating performance to infer the relative size of overhead costs. Consolidated Income from operations for the three months ended September 30, 2025, was $69,166 thousand, against consolidated Revenues of $228,485 thousand. This means that operating expenses (which include G&A, VOE, and depreciation/amortization) consumed a significant portion of the revenue before reaching that operating income level.

Regarding Debt servicing costs, this category appears to be minimal or non-existent for the consolidated entity as of late 2025. Teekay Corporation highlighted a debt-free status and a strong cash position of $775 million as of the Q3 2025 update. This suggests that interest expense and principal repayments on external debt are not a major recurring cost drain, though the company did fund its other working capital requirements and provide funding to its equity-accounted joint venture from time to time.

The capital allocation side also shows costs related to fleet renewal, which are typically investing/financing activities rather than operating expenses, but they are significant cash outlays:

Activity	Amount / Detail	Period / Status
Gross Proceeds from Vessel Sales (Expected Total)	$158.5 million	Five vessel sales completed in Q3/Q4 2025.
Estimated Gain on Vessel Sales	Approximately $47.5 million	From the five vessel sales.
Quarterly Dividend Paid (Teekay Corp)	$1.00 per share (Totaling $85.3 million)	One-time special dividend paid in July 2025.
Regular Quarterly Dividend (Teekay Tankers)	$0.25 per share	Declared for Q3 2025, payable in November 2025.

The company is clearly prioritizing cash preservation and fleet optimization, which keeps financing costs low, but the day-to-day running of the fleet-crewing, maintenance, and insurance-remains the core operating expense you need to track closely.

Teekay Corporation (TK) - Canvas Business Model: Revenue Streams

You're looking at the core ways Teekay Corporation brings in money as of late 2025. This is primarily through its controlling ownership in Teekay Tankers Ltd. (TNK), plus any direct income or asset realization events at the parent level.

The primary revenue driver is the chartering of vessels, which Teekay Tankers executes across the spot market and through fixed-rate time charter contracts. This activity generates the bulk of the consolidated revenue figures reported by Teekay Corporation.

Here are the key components making up the revenue picture for Teekay Corporation:

• - Tanker charter revenue from spot market and time charter contracts.
• - Q3 2025 Consolidated Revenue was reported at $228.5 million (the closest reported figure is $228,485 thousand, or $228.485 million for the three months ended September 30, 2025).
• - Gains on vessel sales, totaling expected gross proceeds of $158.5 million from five vessels in 2025, largely realized through Teekay Tankers' fleet renewal plan.
• - Dividend income from its controlling interest in Teekark Tankers.

To give you a clearer view of how these streams are materializing, particularly the asset sales and the income derived from the subsidiary, here's a breakdown based on recent reporting:

Revenue Component	Specific Financial Data Point	Period/Context
Consolidated Revenue (TK)	$228.485 million	Three Months Ended September 30, 2025
Expected Gross Proceeds from Vessel Sales (TNK)	$158.5 million	Total expected from five vessel sales in 2025
Estimated Gain on Vessel Sales (Attributable to TK Parent)	$8.7 million	For the quarter ended September 30, 2025
Dividend Income from TNK (Regular Quarterly)	$0.25 per share declared by TNK for Q3 2025
Dividend Income from TNK (Reported Parent Receipt)	$13.3 million	Cash dividends received by Teekay Parent from Teekay Tankers in Q2 2025
Spot Market Rates (Q4 2025 Booked)	Suezmaxes at $45,500 per day; Aframax/LR2s at $35,200 per day
Time Charter Rates (New Bookings)	One Suezmax at $42,500 per day; Two Aframax at average $33,275 per day

The tanker charter revenue stream is supported by strong market conditions. For instance, Teekay Tankers opportunistically time-chartered out one Suezmax vessel for $42,500 per day and two Aframax sized vessels for an average of $33,275 per day for periods between 12 to 18 months. This mix of spot and fixed-rate business helps smooth out the revenue volatility you see in the maritime sector. Also, Teekay Tankers declared a regular fixed quarterly cash dividend of $0.25 per share for the quarter ended September 30, 2025.

The asset sales are a significant, though less recurring, source of cash flow and gain recognition. The five vessel sales are expected to generate total gross proceeds of $158.5 million, with estimated gains on sales of approximately $47.5 million recorded across the third and fourth quarters. For Teekay Corporation itself, the Q3 2025 results included specific income components flowing from Teekay Tankers:

• - Gains on Teekay Tankers' vessel sales: $8.7 million, or $0.10 per share.
• - Gain on distribution from equity accounted investment: $2.6 million, or $0.03 per share.
• - Unrealized gain on marketable securities: $1.4 million, or $0.02 per share.

Honestly, the dividend income from Teekay Tankers is the most direct way Teekay Corporation monetizes its controlling interest. You saw Teekay Parent receive cash dividends totaling $13.3 million in the second quarter of 2025. Plus, Teekay Corporation paid out a large one-time cash dividend of $85.3 million in July 2025, likely supported by these cash flows and asset sales.