Teekay Tankers (TNK) 6-K 1 Sep 20 2020 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2020
Document And Entity Information [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	TEEKAY TANKERS LTD.
Entity Central Index Key	0001419945
Current Fiscal Year End Date	--12-31

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUES
Total revenues	$ 246,492	$ 207,007	$ 588,392	$ 445,168
Voyage expenses	(61,558)	(97,398)	(180,799)	(200,397)
Vessel operating expenses (note 13b)	(46,218)	(53,600)	(96,867)	(108,187)
Time-charter hire expenses	(9,296)	(10,792)	(19,175)	(20,240)
Depreciation and amortization	(29,546)	(30,658)	(59,178)	(60,523)
General and administrative expenses (note 13b)	(9,784)	(9,508)	(19,070)	(18,673)
Gain (loss) on sale of assets and write-down of assets (note15)	2,896	0	(191)	0
Income from operations	92,986	5,051	213,112	37,148
Interest expense	(13,492)	(16,607)	(28,627)	(33,549)
Interest income	567	221	823	586
Realized and unrealized loss on derivative instruments (note 8)	(589)	(1,778)	(1,416)	(2,625)
Equity income (loss)	3,188	(169)	5,128	584
Other income (note 9)	940	614	2,083	249
Net income (loss) before income tax	83,600	(12,668)	191,103	2,393
Income tax recovery (expense) (note 10)	14,598	(1,639)	13,934	(4,253)
Net income (loss)	$ 98,198	$ (14,307)	$ 205,037	$ (1,860)
Per common share amounts (note 14)
- Basic earnings (loss) per share	$ 2.91	$ (0.43)	$ 6.08	$ (0.06)
- Diluted earnings (loss) per share	$ 2.89	$ (0.43)	$ 6.04	$ (0.06)
Weighted-average number of Class A and Class B common stock outstanding (note 14)
- Basic	33,727,978	33,623,800	33,698,972	33,604,397
- Diluted	33,978,730	33,623,800	33,962,511	33,604,397
Voyage charter revenues
REVENUES
Total revenues	$ 207,926	$ 191,495	$ 525,404	$ 413,572
Time-charter [Member]
REVENUES
Total revenues	34,986	1,496	50,553	4,906
Other revenues
REVENUES
Total revenues	$ 3,580	$ 14,016	$ 12,435	$ 26,690

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current
Cash and cash equivalents	$ 167,907	$ 88,824
Restricted cash – current (note 16)	4,766	3,071
Accounts receivable	88,663	95,648
Assets held for sale (note 15)	0	65,458
Due from affiliates (note 13c)	2,440	697
Current portion of derivative assets (note 8)	0	577
Bunker and lube oil inventory	30,885	49,790
Prepaid expenses	12,103	10,288
Accrued revenue	42,153	106,872
Total current assets	348,917	421,225
Restricted cash – long-term (note 16)	3,437	3,437
At cost, less accumulated depreciation of $563.8 million (2019 - $537.1 million) (note 6)	1,161,097	1,223,085
Vessels related to finance leases, at cost, less accumulated depreciation of $159.0 million (2019 - $143.7 million) (note 7)	511,879	527,081
Operating lease right-of-use assets (note 7)	10,758	19,560
Total vessels and equipment	1,683,734	1,769,726
Investment in and advances to equity-accounted joint venture	29,740	28,112
Derivative assets (note 8)	0	82
Other non-current assets	1,453	1,923
Intangible assets at cost, less accumulated amortization of $3.4 million (2019 - $3.2 million)	2,259	2,545
Goodwill	2,426	2,426
Total assets	2,071,966	2,229,476
Current
Accounts payable	59,652	70,978
Accrued liabilities (note 13c)	40,360	59,735
Short-term debt (note 5)	10,000	50,000
Due to affiliates (note 13c)	2,091	2,139
Liabilities associated with assets held for sale (note 15)	0	2,980
Current portion of derivative liabilities (note 8)	414	86
Current portion of long-term debt (note 6)	27,549	43,573
Current obligations related to finance leases (note 7)	26,281	25,357
Current portion of operating lease liabilities (note 7)	10,986	16,290
Other current liabilities	8,485	8,567
Total current liabilities	185,818	279,705
Long-term debt (note 6)	285,389	516,106
Long-term obligations related to finance leases (note 7)	376,238	389,431
Long-term operating lease liabilities (note 7)	417	3,270
Other long-term liabilities (note 10)	27,516	51,044
Derivative liabilities (note 8)	789	0
Total liabilities	876,167	1,239,556
Equity
Common stock and additional paid-in capital (585.0 million shares authorized, 29.1 million Class A and 4.6 million Class B shares issued and outstanding as of June 30, 2020 and 585.0 million shares authorized, 29.0 million Class A and 4.6 million Class B shares issued and outstanding as at December 31, 2019) (note 12)	1,298,397	1,297,555
Accumulated deficit	(102,598)	(307,635)
Total equity	1,195,799	989,920
Total liabilities and equity	$ 2,071,966	$ 2,229,476

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Excluding Capital Leased Assets	$ 563.8	$ 537.1
Sale Leaseback Transaction, Accumulated Depreciation	159	143.7
Accumulated amortization on intangible assets	$ 3.4	$ 3.2
Common stock, shares authorized (in shares)	585,000,000	585,000,000
Class A
Common stock, shares authorized (in shares)	485,000,000	485,000,000
Common stock, shares issued (in shares)	29,100,000	29,000,000
Common Stock, Shares, Outstanding	29,100,000	29,000,000
Class B
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	4,600,000	4,600,000
Common Stock, Shares, Outstanding	4,600,000	4,600,000

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES
Net income	$ 205,037	$ (1,860)
Non-cash items:
Unrealized loss on derivative instruments (note 8)	1,776	4,366
Depreciation and amortization	59,178	60,523
Equity income	(5,128)	(584)
Income tax (recovery) expense (note 10)	13,934	(4,253)
Other	(8)	2,743
Loss on Sale of Assets and Write-Down of Assets	191	0
Change in operating assets and liabilities	60,379	23,198
Expenditures for dry docking	(3,681)	(27,815)
Net operating cash flow	304,871	64,366
FINANCING ACTIVITIES
Proceeds from short-term debt (note 5)	205,000	65,000
Proceeds from long-term debt, net of issuance costs (note 6)	477,822	16,421
Scheduled repayments of long-term debt (note 6)	(8,812)	(50,800)
Prepayments of long-term debt (note 6)	717,368	109,688
Prepayments of short-term debt (note 5)	(245,000)	(50,000)
Proceeds from financing related to sales and leaseback of vessels (note 8)	0	63,720
Scheduled repayments of obligations related to finance leases (note 7)	(12,269)	(12,073)
Other	(562)	(126)
Net financing cash flow	(301,189)	(77,546)
INVESTING ACTIVITIES
Proceeds from sale of assets (note 15)	75,214	0
Expenditures for vessels and equipment	(3,076)	(6,545)
Loan repayments from equity-accounted joint venture	3,500	0
Net investing cash flow	75,638	(6,545)
Increase (decrease) in cash, cash equivalents and restricted cash	79,320	(19,725)
Cash, cash equivalents and restricted cash, beginning of the period	96,790	60,507
Cash, cash equivalents and restricted cash, end of the period	176,110	40,782
Freight Tax [Member]
Non-cash items:
Income tax (recovery) expense (note 10)	$ (12,873)	$ 3,795

Unaudited Consolidated Statem_3

Unaudited Consolidated Statement of Changes in Equity - USD ($) shares in Thousands, $ in Thousands	Total	Class A	Class B	Common Stock and Additional Paid-in Capital	Common Stock and Additional Paid-in CapitalClass A	Common Stock and Additional Paid-in CapitalClass B	Accumulated Deficit
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 12,447						$ 12,447
Stock Issued During Period, Shares, Employee Benefit Plan				54
Equity-based compensation (note 12)	668				$ 668
Balance at start of period, shares at Dec. 31, 2018				33,570
Balance at end of period at Mar. 31, 2019	960,048				1,208,065	$ 88,532	(336,549)
Balance at end of period (shares) at Mar. 31, 2019				33,624
Balance at start of period at Dec. 31, 2018	946,933				1,207,397	88,532	(348,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,860)
Balance at start of period, shares at Dec. 31, 2018				33,570
Balance at end of period at Jun. 30, 2019	945,895				1,208,219	88,532	(350,856)
Balance at end of period (shares) at Jun. 30, 2019				33,624
Balance at start of period at Dec. 31, 2018	946,933				1,207,397	88,532	(348,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(14,307)						(14,307)
Stock Issued During Period, Shares, Employee Benefit Plan				0
Equity-based compensation (note 12)	154				154
Balance at start of period, shares at Mar. 31, 2019				33,624
Balance at end of period at Jun. 30, 2019	945,895				1,208,219	88,532	(350,856)
Balance at end of period (shares) at Jun. 30, 2019				33,624
Balance at start of period at Mar. 31, 2019	960,048				1,208,065	88,532	(336,549)
Balance at beginning of period (shares) at Dec. 31, 2019				33,655
Balance at end of period (shares) at Mar. 31, 2020				33,712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	106,839						106,839
Stock Issued During Period, Shares, Employee Benefit Plan				57
Equity-based compensation (note 12)	468				468
Balance at start of period, shares at Dec. 31, 2019		29,000	4,600
Balance at end of period at Mar. 31, 2020	1,097,227				1,209,491	88,532	(200,796)
Balance at start of period at Dec. 31, 2019	989,920				1,209,023	88,532	(307,635)
Balance at beginning of period (shares) at Dec. 31, 2019				33,655
Balance at end of period (shares) at Jun. 30, 2020				(33,738)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	205,037
Balance at start of period, shares at Dec. 31, 2019		29,000	4,600
Balance at end of period at Jun. 30, 2020	1,195,799				1,209,865	88,532	(102,598)
Balance at end of period (shares) at Jun. 30, 2020		29,100	4,600
Balance at start of period at Dec. 31, 2019	989,920				1,209,023	88,532	(307,635)
Balance at beginning of period (shares) at Mar. 31, 2020				33,712
Balance at end of period (shares) at Jun. 30, 2020				(33,738)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	98,198						98,198
Stock Issued During Period, Shares, Employee Benefit Plan				26
Equity-based compensation (note 12)	374				374
Balance at end of period at Jun. 30, 2020	1,195,799				1,209,865	88,532	(102,598)
Balance at end of period (shares) at Jun. 30, 2020		29,100	4,600
Balance at start of period at Mar. 31, 2020	$ 1,097,227				$ 1,209,491	$ 88,532	$ (200,796)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim consolidated financial statements (or unaudited consolidated financial statements ) have been prepared in accordance with United States generally accepted accounting principles (or GAAP ). These unaudited consolidated financial statements include the accounts of Teekay Tankers Ltd., its wholly-owned subsidiaries, equity-accounted joint venture and any variable interest entities (or VIEs ) of which it is the primary beneficiary (collectively, the Company ). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2019 , filed on Form 20-F with the U.S. Securities and Exchange Commission (or the SEC ) on April 15, 2020. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments, consisting solely of a normal recurring nature, necessary to present fairly, in all material respects, the Company’s unaudited consolidated financial position, results of operations, and cash flows for the interim periods presented. The results of operations for the interim periods presented are not necessarily indicative of those for a full fiscal year. Intercompany balances and transactions have been eliminated upon consolidation. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (or COVID-19 ) as a pandemic. Given the dynamic nature of these circumstances, the full extent to which the COVID-19 pandemic may have direct or indirect impact on the Company's business and the related financial reporting implications cannot be reasonably estimated at this time, although the pandemic could materially affect the Company's business, results of operations and financial condition in the future. S pot tanker rates have come under pressure since mid-May 2020 as a result of record OPEC+ oil production cuts and lower production from other oil producing countries which reduced crude exports, and the unwinding of floating storage. COVID-19 was also a contributing factor to the reduction in certain tax accruals as described in Note 10 - Income Tax Recovery (Expense). Voyage Charter Revenues and Expenses Voyage expenses incurred that are recoverable from the Company's customers in connection with its voyage charter contracts are reflected in voyage charter revenues and voyage expenses. The Company recast prior periods to reflect this presentation. This had the impact of increasing both voyage charter revenues and voyage expenses by $4.7 million and $10.4 million for the three and six months ended June 30, 2019 , respectively. Reverse Stock Split The per share amounts for all periods presented have been adjusted to reflect a one-for-eight reverse stock split completed in November 2019.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (or FASB) issued Accounting Standards Update 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (or ASU 2016-13) . ASU 2016-13 introduces a new credit loss methodology, which requires earlier recognition of potential credit losses, while also providing additional transparency about credit risk. This new credit loss methodology utilizes a lifetime "expected credit loss" measurement objective for the recognition of credit losses for loans, held-to-maturity debt securities and other receivables at the time the financial asset is originated or acquired. The expected credit losses are subsequently adjusted each period for changes in expected lifetime credit losses. This methodology replaces multiple existing impairment methods under previous GAAP for these types of assets, which generally required that a loss be incurred before it was recognized. The Company adopted this update on January 1, 2020. The adoption of ASU 2016-13 did not have a material impact on the Company's unaudited consolidated financial statements. In December 2019, the FASB issued ASU 2019-12 - Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (or ASU 2019-12) , as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019-12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences, among other changes. The guidance becomes effective for annual reporting periods beginning after December 15, 2020 and interim periods within those fiscal years with early adoption permitted. The Company is currently evaluating the effect of adopting this new guidance. In March 2020, the FASB issued ASU 2020-04 - Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting ( or ASU 2020-04) . This ASU provides optional guidance for a limited period of time to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as the London Interbank Offered Rate (or LIBOR ). The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The amendments in this ASU are effective through December 31, 2022. The Company is currently evaluating the effect of adopting this new guidance.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company’s primary source of revenue is from chartering its vessels (Aframax tankers, Suezmax tankers and Long Range 2 (or LR2 ) tankers) to its customers. The Company utilizes two primary forms of contracts, consisting of voyage charters and time-charters. The extent to which the Company employs its vessels on voyage charters versus time charters is dependent upon the Company’s chartering strategy and the availability of time charters. Spot market rates for voyage charters are volatile from period to period, whereas time charters provide a stable source of monthly revenu e. The Company also provides ship-to-ship support services, which include managing the process of transferring cargo between seagoing ships positioned alongside each other, either stationary or underway, as well as commercial management services to third-party owners of vessels. Finally, prior to April 30, 2020, the Company managed liquefied natural gas (or LNG ) terminals and procured LNG-related goods for terminal owners and other customers. For descriptions of these types of contracts, see Item 18 - Financial Statements: Note 3 in the Company’s audited consolidated financial statements filed with its Annual Report on Form 20-F for the year ended December 31, 2019 . On April 30, 2020, the Company completed the sale of the non-US portion of its ship-to-ship support services business, as well as its LNG terminal management business (see note 15). The following table contains a breakdown of the Company's revenue by contract type for the three and six months ended June 30, 2020 and June 30, 2019 . All revenue is part of the Company's tanker segment , except for revenue for the non-US portion of the ship-to-ship support services and LNG terminal management, consultancy, procurement, and other related services, which are part of the Company's ship-to-ship transfer segment. The Company’s lease income consists of the revenue from its voyage charters and time-charters. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Voyage charter revenues Suezmax 93,985 87,001 251,705 189,009 Aframax 59,369 48,889 131,833 115,136 LR2 27,873 26,325 76,659 61,952 Full service lightering 26,699 29,280 65,207 47,475 Total 207,926 191,495 525,404 413,572 Time-charter revenues Suezmax 31,000 1,496 46,567 3,069 Aframax 2,158 — 2,158 1,837 LR2 1,828 — 1,828 — Total 34,986 1,496 50,553 4,906 Other revenues Ship-to-ship support services 1,123 8,222 7,842 13,161 Commercial management 1,848 2,090 4,201 4,326 LNG terminal management, consultancy, procurement and other 609 3,704 392 9,203 Total 3,580 14,016 12,435 26,690 Total revenues 246,492 207,007 588,392 445,168 Charters-out As at June 30, 2020 , 14 ( December 31, 2019 - five ) of the Company’s vessels operated under fixed-rate time charter contracts, six of which are scheduled to expire in 2020, six of which are scheduled to expire in 2021 and two of which are scheduled to expire in 2022. As at June 30, 2020 , the minimum scheduled future revenues to be received by the Company under these time charters were approximately $70.5 million (remainder of 2020), $41.7 million (2021) and $5.2 million (2022) ( December 31, 2019 - $40.0 million (2020)). The hire payments should not be construed to reflect a forecast of total charter hire revenue for any of the periods. Future hire payments do not include hire payments generated from new contracts entered into after June 30, 2020, from unexercised option periods of contracts that existed on June 30, 2020 or from variable consideration, if any. In addition, future hire payments presented above have been reduced by estimated off-hire time for required periodic maintenance and do not reflect the impact of revenue sharing arrangements whereby time-charter revenues are shared with other revenue sharing arrangement participants. Actual amounts may vary given future events such as unplanned vessel maintenance. Contract Liabilities As at June 30, 2020 , the Company had $7.7 million (December 31, 2019 - $7.5 million ) advanced payments recognized as contract liabilities that are expected to be recognized as time-charter revenues in subsequent periods and which currently are included in other current liabilities on the Company's unaudited consolidated balance sheets.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting On April 30, 2020, the Company completed the sale of the non-US portion of its ship-to-ship support services business, as well as its LNG terminal management business. Following the sale, the Company's remaining ship-to-ship support operations were integrated into the Company's tanker business. As a result, effective April 30, 2020, the Company has one reportable segment. The Company’s segment information for all periods prior to the sale and reorganization has been retroactively adjusted whereby the remaining ship-to-ship support operations have been reallocated from the ship-to-ship transfer segment to the tanker segment. Consequently, the Company’s tanker segment now consists of the operation of all of its tankers, including the operations from those tankers employed on full service lightering contracts, and the US based ship-to-ship support service operations that the Company retained, including its lightering support services provided as part of full service lightering operations. The Company’s ship-to-ship transfer segment consists of the Company’s non-US lightering support services, LNG terminal management, consultancy, procurement, and other related services which were sold as of April 30, 2020. Segment results are evaluated based on income (loss) from operations. The accounting policies applied to the reportable segments are the same as those used in the preparation of the Company’s unaudited consolidated financial statements. The following tables include results for the Company’s revenues and income (loss) from operations by segment for the three and six months ended June 30, 2020 and June 30, 2019 . Three Months Ended June 30, 2020 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 245,728 764 246,492 Voyage expenses (61,558 ) — (61,558 ) Vessel operating expenses (45,140 ) (1,078 ) (46,218 ) Time-charter hire expenses (9,296 ) — (9,296 ) Depreciation and amortization (29,425 ) (121 ) (29,546 ) General and administrative expenses (2) (9,637 ) (147 ) (9,784 ) (Loss) gain on sale of assets and write-down of assets (185 ) 3,081 2,896 Income from operations 90,487 2,499 92,986 Equity income 3,188 — 3,188 Three Months Ended June 30, 2019 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 197,442 9,565 207,007 Voyage expenses (97,398 ) — (97,398 ) Vessel operating expenses (46,181 ) (7,419 ) (53,600 ) Time-charter hire expenses (10,792 ) — (10,792 ) Depreciation and amortization (29,925 ) (733 ) (30,658 ) General and administrative expenses (2) (9,116 ) (392 ) (9,508 ) Income from operations 4,030 1,021 5,051 Equity loss (169 ) — (169 ) Six Months Ended June 30, 2020 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 581,400 6,992 588,392 Voyage expenses (180,799 ) — (180,799 ) Vessel operating expenses (90,927 ) (5,940 ) (96,867 ) Time-charter hire expenses (19,175 ) — (19,175 ) Depreciation and amortization (58,685 ) (493 ) (59,178 ) General and administrative expenses (2) (18,443 ) (627 ) (19,070 ) (Loss) gain on sale of assets and write-down of assets (3,272 ) 3,081 (191 ) Income from operations 210,099 3,013 213,112 Equity income 5,128 — 5,128 Six Months Ended June 30, 2019 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 426,386 18,782 445,168 Voyage expenses (200,397 ) — (200,397 ) Vessel operating expenses (93,139 ) (15,048 ) (108,187 ) Time-charter hire expenses (20,240 ) — (20,240 ) Depreciation and amortization (59,115 ) (1,408 ) (60,523 ) General and administrative expenses (2) (17,915 ) (758 ) (18,673 ) Income from operations 35,580 1,568 37,148 Equity income 584 — 584 (1) Revenues earned from the ship-to-ship transfer segment are reflected in Other Revenues in the Company's unaudited consolidated statements of income (loss). (2) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources). A reconciliation of total segment assets to total assets presented in the accompanying unaudited consolidated balance sheets is as follows: As at As at June 30, 2020 December 31, 2019 $ $ Tanker 1,904,059 2,114,451 Ship-to-Ship Transfer — 26,201 Cash and cash equivalents 167,907 88,824 Consolidated total assets 2,071,966 2,229,476

Short-Term Debt

Short-Term Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Short-term Debt	Short-Term Debt In November 2018, Teekay Tankers Chartering Pte. Ltd. (or TTCL ) a wholly-owned subsidiary of the Company, entered into a working capital revolving loan facility (or the Working Capital Loan ), which initially provided available aggregate borrowings of up to $40.0 million for TTCL, and had an initial maturity date in May 2019, subject to extension as described below. The aggregate borrowings were subsequently increased to $80.0 million , effective December 2019. The next maturity date of the Working Capital Loan is in November 2020. The Working Capital Loan maturity date is continually extended for further periods of six months thereafter unless and until the lender gives notice in writing that no further extensions shall occur. Proceeds of the Working Capital Loan are used to provide working capital in relation to certain vessels subject to the revenue sharing agreements (or RSAs). Interest payments are based on LIBOR plus a margin of 3.5% . The Working Capital Loan is collateralized by the assets of TTCL. The Working Capital Loan requires the Company to maintain its paid-in capital contribution under the RSAs and the retained distributions of the RSA counterparties in an amount equal to the greater of (a) an amount equal to the minimum average capital contributed by the RSA counterparties per vessel in respect of the RSA (including cash, bunkers or other working capital contributions and amounts accrued to the RSA counterparties but unpaid) and (b) a minimum capital contribution ranging from $20.0 million to $30.0 million based on the amount borrowed. As at June 30, 2020 , $10.0 million ( December 31, 2019 - $50.0 million ) was owing under this facility, and the average interest rate on the facility was 3.7% ( December 31, 2019 - 5.0% ). As of the date these unaudited consolidated financial statements were issued, the Company was in compliance with all covenants in respect of this facility.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt As at As at June 30, 2020 December 31, 2019 $ $ Revolving Credit Facility due 2024 235,000 341,132 Term Loan due 2021 86,681 221,729 Total principal 321,681 562,861 Less: unamortized discount and debt issuance costs (8,743 ) (3,182 ) Total debt 312,938 559,679 Less: current portion (27,549 ) (43,573 ) Non-current portion of long-term debt 285,389 516,106 As at June 30, 2020 , the Company had one revolving credit facility (or the 2020 Revolver ) (December 31, 2019 - two revolving facilities), which, as at such date, provided for aggregate borrowings of up to $485.6 million , of which $250.6 million was undrawn ( December 31, 2019 - $371.5 million , of which $30.4 million was undrawn). Interest payments are based on LIBOR plus a margin. As at June 30, 2020 , such margin was 2.40% ( December 31, 2019 - ranged from 2.00% to 2.75% ). The total amount available under the 2020 Revolver decreases by $47.2 million (remainder of 2020 ), $91.4 million ( 2021 ), $80.4 million ( 2022 ), $65.3 million ( 2023 ) and $201.3 million (2024). As at June 30, 2020 , the Company also had one term loan outstanding (December 31, 2019: three ), which totaled $86.7 million ( December 31, 2019 - $221.7 million ). Interest payments on the term loan are based on a combination of a fixed rate of 5.4% ( December 31, 2019 - 5.4% ) and a variable rate based on LIBOR plus a margin. As at June 30, 2020 , the margin was 0.5% ( December 31, 2019 - ranged from 0.3% to 2.0% ). The term loan repayments are made in semi-annual payments. The term loan also has a balloon or bullet repayment due at maturity in 2021. The 2020 Revolver and term loan are further described below. In January 2020, the Company entered into the 2020 Revolver, which is scheduled to mature in December 2024, and which had an outstanding balance of $235.0 million as at June 30, 2020 . The 2020 Revolver was used to repay a portion of the $455.3 million previously outstanding under two previous revolving credit facilities of the Company, which were scheduled to mature in 2021 and 2022, and under two term loan facilities, which were scheduled to mature in 2020 and 2021. The 2020 Revolver is collateralized by 31 of the Company's vessels, together with other related security. The total net book value of these 31 vessels as at June 30, 2020 was $1,021.4 million . The 2020 Revolver requires that the Company maintain a minimum hull coverage ratio of 125% of the total outstanding drawn balance for the facility period. Such requirement is assessed on a semi-annual basis with reference to vessel valuations compiled by two or more agreed upon third parties. Should the ratio drop below the required amount, the lender may request that the Company either prepay a portion of the loan in the amount of the shortfall or provide additional collateral in the amount of the shortfall, at the Company's option. As of June 30, 2020 , the hull coverage ratio was 379% . The vessel values used in this ratio are appraised values provided by third parties. A decline in the tanker market could negatively affect the ratio. In addition, the Company is required to maintain a minimum liquidity (cash, cash equivalents and undrawn committed revolving credit lines with at least six months to maturity) of $35.0 million and at least 5% of the Company's total consolidated debt and obligations related to finance leases. The Company’s term loan, with a total outstanding balance of $86.7 million as at June 30, 2020 ( December 31, 2019 - $221.7 million ), which was scheduled to mature in 2021, was guaranteed by Teekay Corporation (or Teekay ) and collateralized by four of the Company’s vessels, together with other related security. The term loan required Teekay and the Company collectively to maintain the greater of (a) free cash (cash and cash equivalents) of at least $100.0 million and (b) an aggregate of free cash and undrawn committed revolving credit lines with at least six months to maturity of at least 7.5% of Teekay's total consolidated debt and obligations related to finance leases (excluding the debt of Teekay LNG Partners L.P. (or TGP) and its subsidiaries). In August 2020, the Company refinanced the term loan facility (or the 2020 Term Loan ) and replaced the guarantee from Teekay with a guarantee from five of the Company's wholly-owned subsidiaries. The 2020 Term Loan facility is scheduled to mature in 2023. The Company is required to maintain a minimum liquidity (cash, cash equivalents and undrawn committed revolving credit lines with at least six months to maturity) of $35.0 million and at least 5% of the Company's total consolidated debt and obligations related to finance leases (note 18). As of the date these unaudited consolidated financial statements were issued, the Company was in compliance with all covenants in respect of the 2020 Revolver and the 2020 Term Loan. The weighted-average interest rate on the Company’s long-term debt as at June 30, 2020 was 3.0% ( December 31, 2019 - 3.7% ). This rate does not reflect the effect of the Company’s interest rate swap agreement (note 8 ). The aggregate annual long-term principal repayments required to be made by the Company under the 2020 Revolver and the term loan subsequent to June 30, 2020 , including the impact of the debt refinancing completed in August 2020, are $22.1 million (remainder of 2020 ), $11.2 million ( 2021 ), $11.2 million ( 2022 ), $75.9 million ( 2023 ) and $201.3 million (2024).

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Operating Leases The Company charters-in vessels from other vessel owners on time-charter contracts, whereby the vessel owner provides use and technical operation of the vessel for the Company. A time charter-in contract is typically for a fixed period of time, although in certain cases, the Company may have the option to extend the charter. The Company typically pays the owner a daily hire rate that is fixed over the duration of the charter. The Company is generally not required to pay the daily hire rate during periods the vessel is not able to operate. As at June 30, 2020 , minimum commitments to be incurred by the Company under time charter-in contracts were approximately $17.3 million (remainder of 2020 ) and $6.5 million ( 2021 ).
Lessee, Finance Leases	Obligations Related to Finance Leases As at As at June 30, 2020 December 31, 2019 $ $ Total obligations related to finance leases 402,519 414,788 Less: current portion (26,281 ) (25,357 ) Long-term obligations related to finance leases 376,238 389,431 From 2017 to 2019, the Company completed sale-leaseback financing transactions with financial institutions relating to 16 of the Company's vessels. Under these arrangements, the Company transferred the vessels to subsidiaries of the financial institutions (collectively, the Lessors ) and leased the vessels back from the Lessors on bareboat charters ranging from 9 - to 12 -year terms. The Company is obligated to purchase eight of the vessels upon maturity of their respective bareboat charters. The Company also has the option to purchase each of the 16 vessels at various times starting between July 2020 and November 2021 until the end of their respective lease terms. The bareboat charters related to these vessels require that the Company maintain a minimum liquidity (cash, cash equivalents and undrawn committed revolving credit lines with at least six months to maturity) of $35.0 million and at least 5.0% of the Company's consolidated debt and obligations related to finance leases (excluding applicable security deposits reflected in restricted cash - long-term on the Company's unaudited consolidated balance sheets). Four of the bareboat charters require the Company to maintain, for each vessel, a minimum hull coverage ratio of 90% of the total outstanding principal balance during the first three years of the lease period and 100% of the total outstanding principal balance thereafter. As at June 30, 2020 , this ratio was approximately 129% ( December 31, 2019 - 122% ). Six of the bareboat charters require the Company to maintain, for each vessel, a minimum hull coverage ratio of 78% of the total outstanding principal balance during the first two years of the lease period, 80% for the following two years and 90% of the total outstanding principal balance thereafter. As at June 30, 2020 , this ratio was approximately 110% ( December 31, 2019 - 115% ). Four of the bareboat charters also require the Company to maintain, for each vessel, a minimum hull overage ratio of 100% of the total outstanding principal balance. As at June 30, 2020 , this ratio was approximately 163% ( December 31, 2019 - 158% ). The remaining two bareboat charters also require the Company to maintain, for each vessel, a minimum hull coverage ratio of 75% of the total outstanding principal balance during the first year of the lease period, 78% for the second year, 80% for the following two years and 90% of the total outstanding principal balance thereafter. As at June 30, 2020 , this ratio was approximately 102% ( December 31, 2019 - 109% ). Such requirements are assessed annually with reference to vessel valuations compiled by one or more agreed upon third parties. As of the date these unaudited consolidated financial statements were issued, the Company was in compliance with all covenants in respect of its obligations related to finance leases. The weighted-average interest rate on the Company’s obligations related to finance leases as at June 30, 2020 was 7.6% ( December 31, 2019 - 7.6% ). As at June 30, 2020 , the Company's total remaining commitments related to the financial liabilities of these vessels were approximately $573.9 million (December 31, 2019 - $601.7 million ), including imputed interest of $171.4 million (December 31, 2019 - $186.9 million ), repayable from 2020 through 2030, as indicated below: Commitments Year June 30, 2020 Remainder of 2020 28,449 2021 56,222 2022 56,213 2023 56,204 2024 56,348 Thereafter 320,481

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Interest rate swap agreement The Company uses derivative instruments in accordance with its overall risk management policies. The Company enters into interest rate swap agreements which exchange a receipt of floating interest for a payment of fixed interest to reduce the Company’s exposure to interest rate variability on its outstanding floating-rate debt. The Company has not designated, for accounting purposes, its interest rate swap as cash flow hedges of its U.S. Dollar LIBOR-denominated borrowings. In January 2020, the Company completed a refinancing of current long-term debt facilities (note 6). As a result of this refinancing, the Company extinguished all of its then existing interest rate swaps and entered into a new interest rate swap which is scheduled to mature in December 2024. The following summarizes the Company's interest rate swap agreement as at June 30, 2020 : Interest Rate Notional Amount Fair Value /Carrying Amount of Liability Remaining Term Fixed Swap Rate Index $ $ (years) (%) (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swap agreement LIBOR 50,000 (1,038 ) 4.5 0.76 (1) Excludes the margin the Company pays on its variable-rate debt, which, as of June 30, 2020 , ranged from 0.50% to 3.50% . The Company is potentially exposed to credit loss in the event of non-performance by the counterparty to the interest rate swap agreements in the event that the fair value results in an asset being recorded. In order to minimize counterparty risk, the Company only enters into interest rate swap agreements with counterparties that are rated A– or better by Standard & Poor’s or A3 or better by Moody’s at the time transactions are entered into. Forward freight agreements The Company uses forward freight agreements (or FFAs ) in non-hedge-related transactions to increase or decrease its exposure to spot market rates, within defined limits. Net gains and losses from FFAs are recorded within realized and unrealized loss on derivative instruments in the Company's unaudited consolidated statements of income (loss). The following table presents the location and fair value amounts of derivative instruments, segregated by type of contract, on the Company’s unaudited consolidated balance sheets. Current portion of derivative assets Derivative assets Accounts receivable (Accrued liabilities) Current portion of derivative liabilities Derivative liabilities $ $ $ $ $ As at June 30, 2020 Interest rate swap agreement — — — (249 ) (789 ) Forward freight agreements — — — (165 ) — — — — (414 ) (789 ) As at December 31, 2019 Interest rate swap agreements 577 82 230 — — Forward freight agreements — — — (86 ) — 577 82 230 (86 ) — Realized and unrealized gains (losses) relating to the interest rate swaps and FFAs are recognized in earnings and reported in realized and unrealized loss on derivative instruments in the Company’s unaudited consolidated statements of income (loss) as follows: Three Months Ended Three Months Ended June 30, 2020 June 30, 2019 Realized gains (losses) Unrealized (losses) gains Total Realized gains (losses) Unrealized (losses) Total $ $ $ $ $ $ Interest rate swap agreements 86 (483 ) (397 ) 829 (2,699 ) (1,870 ) Forward freight agreements (200 ) 8 (192 ) (29 ) 121 92 (114 ) (475 ) (589 ) 800 (2,578 ) (1,778 ) Six Months Ended Six Months Ended June 30, 2020 June 30, 2019 Realized gains (losses) Unrealized (losses) Total Realized gains (losses) Unrealized (losses) Total $ $ $ $ $ $ Interest rate swap agreements 609 (1,697 ) (1,088 ) 1,783 (4,470 ) (2,687 ) Forward freight agreements (249 ) (79 ) (328 ) (42 ) 104 62 360 (1,776 ) (1,416 ) 1,741 (4,366 ) (2,625 )

Other Income

Other Income	6 Months Ended
	Jun. 30, 2020
Other Nonoperating Income [Abstract]
Other Nonoperating Income and Expense [Text Block]	Other Income The components of other income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Foreign exchange (loss) gain (87 ) 595 1,048 182 Other income 1,027 19 1,035 67 Total 940 614 2,083 249

Freight Tax and Other Tax Expen

Freight Tax and Other Tax Expense	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Other Liabilities Disclosure [Text Block]	ncome Tax Recovery (Expense) The following table reflects changes in uncertain tax positions relating to freight tax liabilities, which are recorded in other long-term liabilities and accrued liabilities on the Company's unaudited consolidated balance sheets: Six Months Ended 30 June 2020 2019 Balance of unrecognized tax benefits as at January 1 49,579 32,059 Increases for positions related to the current year 1,489 1,686 Changes for positions taken in prior years (14,507 ) 2,047 Decreases related to statute of limitations (812 ) — Balance of unrecognized tax benefits as at June 30 35,749 35,792 Included in the Company's current income tax expense are provisions for uncertain tax positions relating to freight taxes. In the three months ended June 30, 2020, the Company obtained further legal advice regarding the applicable tax rate in respect of freight taxes in a certain jurisdiction and subsequently secured an agreement in principle with a tax authority relating to an outstanding uncertain tax liability. The agreement in principle is based in part on a recent initiative of the tax authority in response to COVID-19, which included the waiver of interest and penalties on unpaid taxes. Based on this and other clarifications of tax regulations, the Company has reversed $15.2 million of freight tax liabilities in the three months ended June 30, 2020. The Company classified the remaining liability for this jurisdiction of approximately $8.6 million to accrued liabilities on the Company's unaudited consolidated balance sheet as of June 30, 2020. The Company does not presently anticipate that its provisions for these uncertain tax positions will significantly increase in the next 12 months; however, this is dependent on the jurisdictions in which vessel trading activity occurs. The Company reviews its freight tax obligations on a regular basis and may update its assessment of its tax positions based on available information at that time. Such information may include legal advice as to applicability of freight taxes in relevant jurisdictions. Freight tax regulations are subject to change and interpretation; therefore, the amounts recorded by the Company may change accordingly.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments Fair Value Measurements For a description of how the Company estimates fair value and for a description of the fair value hierarchy levels, see Item 18 - Financial Statements: Note 14 to the Company’s audited consolidated financial statements filed with its Annual Report on Form 20-F for the year ended December 31, 2019 . The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring basis, as well as the estimated fair value of the Company’s financial instruments that are not accounted for at the fair value on a recurring basis. June 30, 2020 December 31, 2019 Fair Value Hierarchy Level Carrying Amount Asset / (Liability) $ Fair Value Asset / (Liability) $ Carrying Amount Asset / (Liability) $ Fair Value Asset / (Liability) $ Recurring: Cash, cash equivalents and restricted cash Level 1 176,110 176,110 95,332 95,332 Derivative instruments (note 8) Interest rate swap agreements (1) Level 2 (1,038 ) (1,038 ) 659 659 Forward freight agreements (1) Level 2 (165 ) (165 ) (86 ) (86 ) Non-recurring: Operating lease right-of-use assets ( note 7) Level 2 10,758 10,758 Other: Short-term debt (note 5) Level 2 (10,000 ) (9,991 ) (50,000 ) (50,000 ) Advances to equity-accounted for joint venture (2) 6,430 (2) 9,930 (2) Long-term debt, including current portion (note 6) Level 2 (312,938 ) (314,792 ) (559,679 ) (558,657 ) Obligations related to finance leases, including current portion (note 7) Level 2 (402,519 ) (465,028 ) (414,788 ) (442,648 ) Assets held for sale ( note 15 ) Level 2 — — 37,240 37,240 (1) The fair value of the Company’s interest rate swap agreements and FFAs at June 30, 2020 and December 31, 2019 exclude accrued interest income and expenses which are recorded in accounts receivable and accrued liabilities, respectively, on the unaudited consolidated balance sheets. (2) The advances to its equity-accounted joint venture, together with the Company’s investment in the equity-accounted joint venture, form the net aggregate carrying value of the Company’s interests in the equity-accounted joint venture in these unaudited consolidated financial statements. The fair values of the individual components of such aggregate interests as at June 30, 2020 and December 31, 2019 were not determinable. (3) As at June 30, 2020, $12.8 million relating to the sale of assets (note 15) was reflected in accounts receivable on the unaudited consolidated balance sheet. The estimated fair value approximated the carrying value at June 30, 2020.

Capital Stock and Stock-Based C

Capital Stock and Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Capital Stock and Stock-Based Compensation	Capital Stock and Equity-Based Compensation The authorized capital stock of the Company at June 30, 2020 was 100.0 million shares of Preferred Stock ( December 31, 2019 - 100.0 million shares), with a par value of $0.01 per share (December 31, 2019 - $0.01 per share), 485.0 million shares of Class A common stock ( December 31, 2019 - 485.0 million shares), with a par value of $0.01 per share (December 31, 2019 - $0.01 per share), and 100.0 million shares of Class B common stock ( December 31, 2019 - 100.0 million shares), with a par value of $0.01 per share (December 31, 2019 - $0.01 per share). A share of Class A common stock entitles the holder to one vote per share while a share of Class B common stock entitles the holder to five votes per share, subject to a 49% aggregate Class B common stock voting power maximum. As of June 30, 2020 , the Company had 29.1 million shares of Class A common stock ( December 31, 2019 – 29.0 million ), 4.6 million shares of Class B common stock ( December 31, 2019 – 4.6 million ) and no shares of preferred stock ( December 31, 2019 – nil ) issued and outstanding. During the three and six months ended June 30, 2020 , the Company recorded $0.6 million and $0.9 million (2019 - $0.2 million and $0.6 million ), respectively, of expenses related to the restricted stock units and stock options in general and administrative expenses. During the six months ended June 30, 2020 , a total of 78.3 thousand restricted stock units ( 2019 - 53.8 thousand ) with a market value of $1.3 million ( 2019 - $0.5 million ) vested and were paid to the grantees by issuing 44.8 thousand shares ( 2019 - 34.1 thousand shares) of Class A common stock, net of withholding taxes.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Management Fee - Related and Other a. The Company's operations are conducted in part by its subsidiaries, which receive services from Teekay's wholly-owned subsidiary, Teekay Shipping Ltd. (or the Manager ) and its affiliates. The Manager provides various services under a long-term management agreement (the Management Agreement ). Commencing October 1, 2018, the Company elected to receive vessel management services for its owned and leased vessels (other than certain former Tanker Investments Ltd. (or TIL ) vessels, which are technically managed by a third party) from its wholly-owned subsidiaries and no longer contracts these services from the Manager. b. Amounts received and (paid) by the Company for related party transactions for the periods indicated were as follows: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 $ $ $ $ Vessel operating expenses - technical management fee (i) (248 ) — (496 ) — Strategic and administrative service fees (ii) (7,143 ) (7,950 ) (15,115 ) (15,742 ) Secondment fees (iii) (144 ) (40 ) (242 ) (99 ) LNG service revenues (iv) — 1,000 — 2,129 Technical management fee revenue (v) 169 169 338 427 Service revenues (vi) — 67 9 217 (i) The cost of ship management services provided by a third party has been presented as vessel operating expenses on the Company's unaudited consolidated statements of income (loss). The Company paid such third party technical management fees to the Manager in relation to certain former TIL vessels. (ii) The Manager’s strategic and administrative service fees have been presented in general and administrative expenses, except for fees related to technical management services, which have been presented in vessel operating expenses on the Company’s unaudited consolidated statements of income (loss). The Company’s executive officers are employees of Teekay or subsidiaries thereof, and their compensation (other than any awards under the Company’s long-term incentive plan) is set and paid by Teekay or such other subsidiaries. The Company compensates Teekay for time spent by its executive officers on the Company’s management matters through the strategic portion of the management fee. (iii) The Company pays secondment fees for services provided by some employees of Teekay. Secondment fees have been presented in general and administrative expenses, except for fees related to technical management services, which have been presented in vessel operating expenses on the Company's unaudited consolidated statements of income (loss). (iv) In November 2016, the Company's ship-to-ship transfer business signed an operational and maintenance subcontract with Teekay LNG Bahrain Operations L.L.C., an entity wholly-owned by TGP, for the Bahrain LNG Import Terminal. The terminal is owned by Bahrain LNG W.I.L., a joint venture for which Teekay LNG Operating L.L.C., an entity wholly-owned by TGP, has a 30% interest. The sub-contract ended in April 2019. (v) The Company receives reimbursements from Teekay for the provision of technical management services. These reimbursements have been presented in general and administrative expenses on the Company's unaudited consolidated statements of income (loss). (vi) The Company recorded service revenues relating to Teekay Tanker Operatings Limited's (or TTOL) administration of certain revenue sharing agreements and provision of certain commercial services to the counterparties in the agreements. c. The Manager and other subsidiaries of Teekay collect revenues and remit payments for expenses incurred by the Company’s vessels. Such amounts, which are presented on the Company’s unaudited consolidated balance sheets in "due from affiliates" or "due to affiliates," as applicable, are without interest or stated terms of repayment. In addition, $10.1 million and $7.9 million were payable as crewing and manning costs as at June 30, 2020 and December 31, 2019 , respectively, and such amounts are included in accrued liabilities in the unaudited consolidated balance sheets. These crewing and manning costs will be payable as reimbursement to the Manager once they are paid by the Manager to the vessels' crew. d. In October 2018, the Company established a new RSA structure under TTCL and subsequently began transitioning the Company's RSA activities from TTOL to TTCL. Pursuant to a service agreement with the Teekay Aframax RSA prior to the change in structure, from time to time, the Company hired vessels to perform full service lightering services. During the three and six months ended June 30, 2019 , the Company recognized nil and $2.0 million , respectively, related to vessels that were chartered-in from the RSA to assist with full service lightering operations. These amounts have been presented in voyage expenses on the Company's unaudited consolidated statements of income (loss).

Sale of Assets

Sale of Assets	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Sale of Vessels and Other Assets [Text Block]	Sale of Assets The Company's unaudited consolidated statements of income (loss) for the three and six months ended June 30, 2020 includes a gain of $3.1 million relating to the completion of the sale of the non-US portion of its ship-to-ship support services business, as well as its LNG terminal management business for proceeds of $27.1 million , including an adjustment of $1.1 million for the final amounts of cash and other working capital present on the closing date. $14.3 million of the total proceeds were received on closing and the remaining $12.7 million was received in July 2020. As at June 30, 2020, the Company recorded an impairment of $0.7 million on its operating lease right-of-use assets, which were written-down to their estimated fair value. During the six months ended June 30, 2020, the Company had completed the sale of three Suezmax tankers, two of which were held for sale at the end of the fourth quarter of 2019, with an aggregate gain on sales of $0.1 million . The remaining tanker was sold and delivered to its buyer in the first quarter of 2020 with a net loss on sale of $2.7 million . As at March 31, 2020, the Company classified one Suezmax tanker as held for sale. The vessel cost, net of the estimated closing cost, was written down by $0.5 million to its estimated sales price. As at June 30, 2020, this vessel no longer met the requirements to be classified as held for sale and the asset was reinstated as held for use. The previous write-down of $0.5 million was reversed when the asset was reinstated as held for use.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Loss Per Share	4. Earnings (Loss) Per Share The net income (loss) available for common shareholders and earnings (loss) per common share are presented in the table below: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 $ $ Net income (loss) 98,198 (14,307 ) 205,037 (1,860 ) Weighted average number of common shares - basic 33,727,978 33,623,800 33,698,972 33,604,397 Dilutive effect of stock-based awards 250,752 — 263,539 — Weighted average number of common shares - diluted 33,978,730 33,623,800 33,962,511 33,604,397 Earnings (loss) per common share: – Basic 2.91 (0.43 ) 6.08 (0.06 ) – Diluted 2.89 (0.43 ) 6.04 (0.06 ) Stock-based awards that have an anti-dilutive effect on the calculation of diluted earnings per common share are excluded from this calculation. In the periods where a loss attributable to shareholders has been incurred, all stock-based awards are anti-dilutive. For the three and six months ended June 30, 2020, no restricted stock units (June 2019 - 0.6 million and 0.6 million , respectively) had an anti-dilutive effect on the calculation of diluted earnings per common share. For the three and six months ended June 30, 2020, options to acquire 0.2 million and 0.2 million (June 2019 - 15 thousand and 15 thousand ) shares, respectively, of the Company’s Class A common stock had an anti-dilutive effect on the calculation of diluted earnings per common share.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Total cash, cash equivalents and restricted cash is as follows: As at As at As at As at June 30, 2020 December 31, 2019 June 30, 2019 December 31, 2018 $ $ $ $ Cash and cash equivalents 167,907 88,824 35,429 54,917 Restricted cash – current 4,766 3,071 1,916 2,153 Restricted cash – long-term 3,437 3,437 3,437 3,437 Cash and cash equivalents held for sale — 1,121 — — Restricted cash held for sale - current — 337 — — 176,110 96,790 40,782 60,507 The Company maintains restricted cash deposits relating to certain FFAs (note 8 ) and leasing arrangements (note 7 ). Non-cash items related to operating lease right-of-use assets and operating lease liabilities are as follows: For the six months ended June 30, 2020 June 30, 2019 $ $ Leased assets obtained in exchange for new operating lease liabilities — 25,656

Liquidity

Liquidity	6 Months Ended
	Jun. 30, 2020
Liquidity [Abstract]
Substantial Doubt about Going Concern [Text Block]	17. Liquidity As at June 30, 2020, the Company's term loan had an outstanding balance of $86.7 million which was guaranteed by Teekay and contained certain covenants (see note 6). The guarantee by Teekay was subsequently released upon completion of the August 2020 refinancing (notes 6 and 18). Based on the Company's liquidity as at the date these unaudited consolidated financial statements were issued, and from the expected cash flows from Company's operations over the following year, the Company estimates that it will have sufficient liquidity to continue as a going concern for at least one-year period following the issuance of these unaudited consolidated financial statements.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events [Text Block]	18. Subsequent Events In August 2020, the Company entered into a new three-year, $67.4 million term loan debt facility to refinance four vessels.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting	The unaudited interim consolidated financial statements (or unaudited consolidated financial statements ) have been prepared in accordance with United States generally accepted accounting principles (or GAAP ). These unaudited consolidated financial statements include the accounts of Teekay Tankers Ltd., its wholly-owned subsidiaries, equity-accounted joint venture and any variable interest entities (or VIEs ) of which it is the primary beneficiary (collectively, the Company ). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2019 , filed on Form 20-F with the U.S. Securities and Exchange Commission (or the SEC ) on April 15, 2020. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments, consisting solely of a normal recurring nature, necessary to present fairly, in all material respects, the Company’s unaudited consolidated financial position, results of operations, and cash flows for the interim periods presented. The results of operations for the interim periods presented are not necessarily indicative of those for a full fiscal year. Intercompany balances and transactions have been eliminated upon consolidation. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (or COVID-19 ) as a pandemic. Given the dynamic nature of these circumstances, the full extent to which the COVID-19 pandemic may have direct or indirect impact on the Company's business and the related financial reporting implications cannot be reasonably estimated at this time, although the pandemic could materially affect the Company's business, results of operations and financial condition in the future. S pot tanker rates have come under pressure since mid-May 2020 as a result of record OPEC+ oil production cuts and lower production from other oil producing countries which reduced crude exports, and the unwinding of floating storage. COVID-19 was also a contributing factor to the reduction in certain tax accruals as described in Note 10 - Income Tax Recovery (Expense). Voyage Charter Revenues and Expenses Voyage expenses incurred that are recoverable from the Company's customers in connection with its voyage charter contracts are reflected in voyage charter revenues and voyage expenses. The Company recast prior periods to reflect this presentation. This had the impact of increasing both voyage charter revenues and voyage expenses by $4.7 million and $10.4 million for the three and six months ended June 30, 2019 , respectively. Reverse Stock Split The per share amounts for all periods presented have been adjusted to reflect a one-for-eight reverse stock split completed in November 2019.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table contains a breakdown of the Company's revenue by contract type for the three and six months ended June 30, 2020 and June 30, 2019 . All revenue is part of the Company's tanker segment , except for revenue for the non-US portion of the ship-to-ship support services and LNG terminal management, consultancy, procurement, and other related services, which are part of the Company's ship-to-ship transfer segment. The Company’s lease income consists of the revenue from its voyage charters and time-charters. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Voyage charter revenues Suezmax 93,985 87,001 251,705 189,009 Aframax 59,369 48,889 131,833 115,136 LR2 27,873 26,325 76,659 61,952 Full service lightering 26,699 29,280 65,207 47,475 Total 207,926 191,495 525,404 413,572 Time-charter revenues Suezmax 31,000 1,496 46,567 3,069 Aframax 2,158 — 2,158 1,837 LR2 1,828 — 1,828 — Total 34,986 1,496 50,553 4,906 Other revenues Ship-to-ship support services 1,123 8,222 7,842 13,161 Commercial management 1,848 2,090 4,201 4,326 LNG terminal management, consultancy, procurement and other 609 3,704 392 9,203 Total 3,580 14,016 12,435 26,690 Total revenues 246,492 207,007 588,392 445,168

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Company's Revenue and Income from Operations by Segment	The following tables include results for the Company’s revenues and income (loss) from operations by segment for the three and six months ended June 30, 2020 and June 30, 2019 . Three Months Ended June 30, 2020 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 245,728 764 246,492 Voyage expenses (61,558 ) — (61,558 ) Vessel operating expenses (45,140 ) (1,078 ) (46,218 ) Time-charter hire expenses (9,296 ) — (9,296 ) Depreciation and amortization (29,425 ) (121 ) (29,546 ) General and administrative expenses (2) (9,637 ) (147 ) (9,784 ) (Loss) gain on sale of assets and write-down of assets (185 ) 3,081 2,896 Income from operations 90,487 2,499 92,986 Equity income 3,188 — 3,188 Three Months Ended June 30, 2019 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 197,442 9,565 207,007 Voyage expenses (97,398 ) — (97,398 ) Vessel operating expenses (46,181 ) (7,419 ) (53,600 ) Time-charter hire expenses (10,792 ) — (10,792 ) Depreciation and amortization (29,925 ) (733 ) (30,658 ) General and administrative expenses (2) (9,116 ) (392 ) (9,508 ) Income from operations 4,030 1,021 5,051 Equity loss (169 ) — (169 ) Six Months Ended June 30, 2020 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 581,400 6,992 588,392 Voyage expenses (180,799 ) — (180,799 ) Vessel operating expenses (90,927 ) (5,940 ) (96,867 ) Time-charter hire expenses (19,175 ) — (19,175 ) Depreciation and amortization (58,685 ) (493 ) (59,178 ) General and administrative expenses (2) (18,443 ) (627 ) (19,070 ) (Loss) gain on sale of assets and write-down of assets (3,272 ) 3,081 (191 ) Income from operations 210,099 3,013 213,112 Equity income 5,128 — 5,128 Six Months Ended June 30, 2019 Tanker Segment Ship-to-Ship Transfer Segment Total $ $ $ Revenues (1) 426,386 18,782 445,168 Voyage expenses (200,397 ) — (200,397 ) Vessel operating expenses (93,139 ) (15,048 ) (108,187 ) Time-charter hire expenses (20,240 ) — (20,240 ) Depreciation and amortization (59,115 ) (1,408 ) (60,523 ) General and administrative expenses (2) (17,915 ) (758 ) (18,673 ) Income from operations 35,580 1,568 37,148 Equity income 584 — 584 (1) Revenues earned from the ship-to-ship transfer segment are reflected in Other Revenues in the Company's unaudited consolidated statements of income (loss). (2) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).
Reconciliation of Total Segment Assets to Total Assets Presented in Consolidated Balance Sheets	conciliation of total segment assets to total assets presented in the accompanying unaudited consolidated balance sheets is as follows: As at As at June 30, 2020 December 31, 2019 $ $ Tanker 1,904,059 2,114,451 Ship-to-Ship Transfer — 26,201 Cash and cash equivalents 167,907 88,824 Consolidated total assets 2,071,966 2,229,476

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of Long-Term Debt	As at As at June 30, 2020 December 31, 2019 $ $ Revolving Credit Facility due 2024 235,000 341,132 Term Loan due 2021 86,681 221,729 Total principal 321,681 562,861 Less: unamortized discount and debt issuance costs (8,743 ) (3,182 ) Total debt 312,938 559,679 Less: current portion (27,549 ) (43,573 ) Non-current portion of long-term debt 285,389 516,106

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Future Minimum Lease Payments for Finance Leases [Table Text Block]	Commitments Year June 30, 2020 Remainder of 2020 28,449 2021 56,222 2022 56,213 2023 56,204 2024 56,348 Thereafter 320,481
Obligations Related to Finance Leases [Table Text Block]	As at As at June 30, 2020 December 31, 2019 $ $ Total obligations related to finance leases 402,519 414,788 Less: current portion (26,281 ) (25,357 ) Long-term obligations related to finance leases 376,238 389,431

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Interest Rate Swap Positions	The following summarizes the Company's interest rate swap agreement as at June 30, 2020 : Interest Rate Notional Amount Fair Value /Carrying Amount of Liability Remaining Term Fixed Swap Rate Index $ $ (years) (%) (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swap agreement LIBOR 50,000 (1,038 ) 4.5 0.76 (1) Excludes the margin the Company pays on its variable-rate debt, which, as of June 30, 2020 , ranged from 0.50% to 3.50% .
Schedule of Derivative Instruments	The following table presents the location and fair value amounts of derivative instruments, segregated by type of contract, on the Company’s unaudited consolidated balance sheets. Current portion of derivative assets Derivative assets Accounts receivable (Accrued liabilities) Current portion of derivative liabilities Derivative liabilities $ $ $ $ $ As at June 30, 2020 Interest rate swap agreement — — — (249 ) (789 ) Forward freight agreements — — — (165 ) — — — — (414 ) (789 ) As at December 31, 2019 Interest rate swap agreements 577 82 230 — — Forward freight agreements — — — (86 ) — 577 82 230 (86 ) —
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	Realized and unrealized gains (losses) relating to the interest rate swaps and FFAs are recognized in earnings and reported in realized and unrealized loss on derivative instruments in the Company’s unaudited consolidated statements of income (loss) as follows: Three Months Ended Three Months Ended June 30, 2020 June 30, 2019 Realized gains (losses) Unrealized (losses) gains Total Realized gains (losses) Unrealized (losses) Total $ $ $ $ $ $ Interest rate swap agreements 86 (483 ) (397 ) 829 (2,699 ) (1,870 ) Forward freight agreements (200 ) 8 (192 ) (29 ) 121 92 (114 ) (475 ) (589 ) 800 (2,578 ) (1,778 ) Six Months Ended Six Months Ended June 30, 2020 June 30, 2019 Realized gains (losses) Unrealized (losses) Total Realized gains (losses) Unrealized (losses) Total $ $ $ $ $ $ Interest rate swap agreements 609 (1,697 ) (1,088 ) 1,783 (4,470 ) (2,687 ) Forward freight agreements (249 ) (79 ) (328 ) (42 ) 104 62 360 (1,776 ) (1,416 ) 1,741 (4,366 ) (2,625 )

Other Income (Tables)

Other Income (Tables)	6 Months Ended
	Jun. 30, 2020
Other Nonoperating Income [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	The components of other income are as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Foreign exchange (loss) gain (87 ) 595 1,048 182 Other income 1,027 19 1,035 67 Total 940 614 2,083 249

Freight Tax and Other Tax Exp_2

Freight Tax and Other Tax Expense (Tables)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Other Liabilities [Table Text Block]	The following table reflects changes in uncertain tax positions relating to freight tax liabilities, which are recorded in other long-term liabilities and accrued liabilities on the Company's unaudited consolidated balance sheets: Six Months Ended 30 June 2020 2019 Balance of unrecognized tax benefits as at January 1 49,579 32,059 Increases for positions related to the current year 1,489 1,686 Changes for positions taken in prior years (14,507 ) 2,047 Decreases related to statute of limitations (812 ) — Balance of unrecognized tax benefits as at June 30 35,749 35,792

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Fair Value and Carrying Value of Assets and Liabilities Measured on Recurring and Non-recurring Basis	The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring basis, as well as the estimated fair value of the Company’s financial instruments that are not accounted for at the fair value on a recurring basis. June 30, 2020 December 31, 2019 Fair Value Hierarchy Level Carrying Amount Asset / (Liability) $ Fair Value Asset / (Liability) $ Carrying Amount Asset / (Liability) $ Fair Value Asset / (Liability) $ Recurring: Cash, cash equivalents and restricted cash Level 1 176,110 176,110 95,332 95,332 Derivative instruments (note 8) Interest rate swap agreements (1) Level 2 (1,038 ) (1,038 ) 659 659 Forward freight agreements (1) Level 2 (165 ) (165 ) (86 ) (86 ) Non-recurring: Operating lease right-of-use assets ( note 7) Level 2 10,758 10,758 Other: Short-term debt (note 5) Level 2 (10,000 ) (9,991 ) (50,000 ) (50,000 ) Advances to equity-accounted for joint venture (2) 6,430 (2) 9,930 (2) Long-term debt, including current portion (note 6) Level 2 (312,938 ) (314,792 ) (559,679 ) (558,657 ) Obligations related to finance leases, including current portion (note 7) Level 2 (402,519 ) (465,028 ) (414,788 ) (442,648 ) Assets held for sale ( note 15 ) Level 2 — — 37,240 37,240 (1) The fair value of the Company’s interest rate swap agreements and FFAs at June 30, 2020 and December 31, 2019 exclude accrued interest income and expenses which are recorded in accounts receivable and accrued liabilities, respectively, on the unaudited consolidated balance sheets. (2) The advances to its equity-accounted joint venture, together with the Company’s investment in the equity-accounted joint venture, form the net aggregate carrying value of the Company’s interests in the equity-accounted joint venture in these unaudited consolidated financial statements. The fair values of the individual components of such aggregate interests as at June 30, 2020 and December 31, 2019 were not determinable.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Summary of Related Party Transactions	Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 $ $ $ $ Vessel operating expenses - technical management fee (i) (248 ) — (496 ) — Strategic and administrative service fees (ii) (7,143 ) (7,950 ) (15,115 ) (15,742 ) Secondment fees (iii) (144 ) (40 ) (242 ) (99 ) LNG service revenues (iv) — 1,000 — 2,129 Technical management fee revenue (v) 169 169 338 427 Service revenues (vi) — 67 9 217 (i) The cost of ship management services provided by a third party has been presented as vessel operating expenses on the Company's unaudited consolidated statements of income (loss). The Company paid such third party technical management fees to the Manager in relation to certain former TIL vessels. (ii) The Manager’s strategic and administrative service fees have been presented in general and administrative expenses, except for fees related to technical management services, which have been presented in vessel operating expenses on the Company’s unaudited consolidated statements of income (loss). The Company’s executive officers are employees of Teekay or subsidiaries thereof, and their compensation (other than any awards under the Company’s long-term incentive plan) is set and paid by Teekay or such other subsidiaries. The Company compensates Teekay for time spent by its executive officers on the Company’s management matters through the strategic portion of the management fee. (iii) The Company pays secondment fees for services provided by some employees of Teekay. Secondment fees have been presented in general and administrative expenses, except for fees related to technical management services, which have been presented in vessel operating expenses on the Company's unaudited consolidated statements of income (loss). (iv) In November 2016, the Company's ship-to-ship transfer business signed an operational and maintenance subcontract with Teekay LNG Bahrain Operations L.L.C., an entity wholly-owned by TGP, for the Bahrain LNG Import Terminal. The terminal is owned by Bahrain LNG W.I.L., a joint venture for which Teekay LNG Operating L.L.C., an entity wholly-owned by TGP, has a 30% interest. The sub-contract ended in April 2019. (v) The Company receives reimbursements from Teekay for the provision of technical management services. These reimbursements have been presented in general and administrative expenses on the Company's unaudited consolidated statements of income (loss). (vi) The Company recorded service revenues relating to Teekay Tanker Operatings Limited's (or TTOL) administration of certain revenue sharing agreements and provision of certain commercial services to the counterparties in the agreements.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Basic and Diluted (Loss) Earnings Per Share	The net income (loss) available for common shareholders and earnings (loss) per common share are presented in the table below: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 $ $ Net income (loss) 98,198 (14,307 ) 205,037 (1,860 ) Weighted average number of common shares - basic 33,727,978 33,623,800 33,698,972 33,604,397 Dilutive effect of stock-based awards 250,752 — 263,539 — Weighted average number of common shares - diluted 33,978,730 33,623,800 33,962,511 33,604,397 Earnings (loss) per common share: – Basic 2.91 (0.43 ) 6.08 (0.06 ) – Diluted 2.89 (0.43 ) 6.04 (0.06 )

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Total cash, cash equivalents and restricted cash is as follows: As at As at As at As at June 30, 2020 December 31, 2019 June 30, 2019 December 31, 2018 $ $ $ $ Cash and cash equivalents 167,907 88,824 35,429 54,917 Restricted cash – current 4,766 3,071 1,916 2,153 Restricted cash – long-term 3,437 3,437 3,437 3,437 Cash and cash equivalents held for sale — 1,121 — — Restricted cash held for sale - current — 337 — — 176,110 96,790 40,782 60,507 The Company maintains restricted cash deposits relating to certain FFAs (note 8 ) and leasing arrangements (note 7 ). Non-cash items related to operating lease right-of-use assets and operating lease liabilities are as follows: For the six months ended June 30, 2020 June 30, 2019 $ $ Leased assets obtained in exchange for new operating lease liabilities — 25,656

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenues	$ 246,492	$ 207,007	$ 588,392	$ 445,168
Cost of Goods and Services Sold	61,558	97,398	180,799	200,397
Voyage charter revenues
Total revenues	$ 207,926	191,495	$ 525,404	413,572
Reimbursement of vessel operating expenses [Domain]
Cost of Goods and Services Sold		4,700		10,400
Restatement Adjustment [Member] | Voyage charter revenues
Total revenues		$ 4,700		$ 10,400

Revenue Revenue - Narrative (De

Revenue Revenue - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)vessel	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)contractvessel	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)vessel
Disaggregation of Revenue [Line Items]
Number of forms of contracts | contract			2
Total revenues	$ 246,492	$ 207,007	$ 588,392	$ 445,168
Lessor, Operating Lease, Payments to be Received, Remainder of Fiscal Year	70,500		70,500
Operating leases, future minimum payments receivable					$ 40,000
Operating Leases, Future Minimum Payments Receivable, in Two Years	41,700		41,700
Operating Leases, Future Minimum Payments Receivable, in Three Years	5,200		5,200
Time-charter [Member]
Disaggregation of Revenue [Line Items]
Total revenues	34,986	$ 1,496	50,553	$ 4,906
Contract with Customer, Liability, Current	$ 7,700		$ 7,700		$ 7,500
Charters Out
Disaggregation of Revenue [Line Items]
Number Of Vessels | vessel	14		14		5
Charters Out Expires 2020 [Member] [Domain]
Disaggregation of Revenue [Line Items]
Number Of Vessels | vessel	6		6
Charters Out Expires 2021 [Domain]
Disaggregation of Revenue [Line Items]
Number Of Vessels | vessel	6		6
Charters Out Expires 2022 [Domain]
Disaggregation of Revenue [Line Items]
Number Of Vessels | vessel	2		2

Revenue Revenue - Disaggregatio

Revenue Revenue - Disaggregation of revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenues	$ 246,492	$ 207,007	$ 588,392	$ 445,168
Voyage Charters - Suezmax
Disaggregation of Revenue [Line Items]
Total revenues	93,985	87,001	251,705	189,009
Voyage Charters - Aframax
Disaggregation of Revenue [Line Items]
Total revenues	59,369	48,889	131,833	115,136
Voyage Charters - LR2
Disaggregation of Revenue [Line Items]
Total revenues	27,873	26,325	76,659	61,952
Voyage Charters - Full Service Lightering
Disaggregation of Revenue [Line Items]
Total revenues	26,699	29,280	65,207	47,475
Voyage charter revenues
Disaggregation of Revenue [Line Items]
Total revenues	207,926	191,495	525,404	413,572
Time Charters - Aframax
Disaggregation of Revenue [Line Items]
Total revenues	2,158	0	2,158	1,837
Time Charters - Suezmax
Disaggregation of Revenue [Line Items]
Total revenues	31,000	1,496	46,567	3,069
Time Charters - LR2
Disaggregation of Revenue [Line Items]
Total revenues	1,828	0	1,828	0
Time-charter [Member]
Disaggregation of Revenue [Line Items]
Total revenues	34,986	1,496	50,553	4,906
Ship-to-ship support services, Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	1,123	8,222	7,842	13,161
Commercial management, Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	1,848	2,090	4,201	4,326
LNG terminal management, consultancy and other, Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	609	3,704	392	9,203
Other revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,580	$ 14,016	$ 12,435	$ 26,690

Short-Term Debt (Details)

Short-Term Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Nov. 30, 2018
Short-term Debt [Line Items]
Short-term debt (note 5)	$ 10,000	$ 50,000
Short-term Debt [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 80,000	$ 40,000
Debt Instrument, Term	6 months
Short-term Debt [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Effective Percentage	3.70%	5.00%
Minimum [Member]
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Debt Covenant, Required Capital Invested	$ 20,000
Maximum [Member]
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Debt Covenant, Required Capital Invested	$ 30,000
London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Reporting - Schedule of

Segment Reporting - Schedule of Company's Revenue and Income From Operations by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 246,492	$ 207,007	$ 588,392	$ 445,168
Voyage expenses	(61,558)	(97,398)	(180,799)	(200,397)
Vessel operating expenses	(46,218)	(53,600)	(96,867)	(108,187)
Time-charter hire expenses	(9,296)	(10,792)	(19,175)	(20,240)
Depreciation and amortization	(29,546)	(30,658)	(59,178)	(60,523)
General and administrative expenses	(9,784)	(9,508)	(19,070)	(18,673)
(Loss) gain on sale of assets and write-down of assets	2,896	0	(191)	0
Income from operations	92,986	5,051	213,112	37,148
Equity loss	3,188	(169)	5,128	584
Operating Segments | Tanker
Segment Reporting Information [Line Items]
Revenues	245,728	197,442	581,400	426,386
Voyage expenses	(61,558)	(97,398)	(180,799)	(200,397)
Vessel operating expenses	(45,140)	(46,181)	(90,927)	(93,139)
Time-charter hire expenses	(9,296)	(10,792)	(19,175)	(20,240)
Depreciation and amortization	(29,425)	(29,925)	(58,685)	(59,115)
General and administrative expenses	(9,637)	(9,116)	(18,443)	(17,915)
(Loss) gain on sale of assets and write-down of assets	(185)		(3,272)
Income from operations	90,487	4,030	210,099	35,580
Equity loss	3,188	(169)	5,128	584
Operating Segments | Ship-to-Ship Transfer
Segment Reporting Information [Line Items]
Revenues	764	9,565	6,992	18,782
Voyage expenses	0	0	0	0
Vessel operating expenses	(1,078)	(7,419)	(5,940)	(15,048)
Time-charter hire expenses	0	0	0	0
Depreciation and amortization	(121)	(733)	(493)	(1,408)
General and administrative expenses	(147)	(392)	(627)	(758)
(Loss) gain on sale of assets and write-down of assets	3,081		3,081
Income from operations	2,499	1,021	3,013	1,568
Equity loss	$ 0	$ 0	$ 0	$ 0

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Total Segment Assets to Total Assets Presented in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting, Asset Reconciling Item [Line Items]
Consolidated total assets	$ 2,071,966	$ 2,229,476
Cash and cash equivalents	167,907	88,824	$ 35,429	$ 54,917
Tanker
Segment Reporting, Asset Reconciling Item [Line Items]
Consolidated total assets	1,904,059	2,114,451
Ship-to-Ship Transfer
Segment Reporting, Asset Reconciling Item [Line Items]
Consolidated total assets	$ 0	$ 26,201

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total principal	$ 321,681	$ 562,861
Less: unamortized discount and debt issuance costs	(8,743)	(3,182)
Total debt	312,938	559,679
Less: current portion	(27,549)	(43,573)
Non-current portion of long-term debt	285,389	516,106
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total principal	235,000	341,132
Term Loans
Debt Instrument [Line Items]
Total principal	$ 86,681	$ 221,729

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information - Revolvers and Term Loans (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)credit_facilityvessel	Dec. 31, 2019USD ($)credit_facility	Dec. 31, 2018	Aug. 01, 2020vesselSubsidiaries
Debt Instrument [Line Items]
Total principal	$ 321,681,000	$ 562,861,000
Repayments of Debt	$ 455,300,000
Weighted-average effective interest rate	3.00%	3.70%
Aggregate annual long-term principal repayments, remainder of 2020	$ 22,100,000
Aggregate annual long-term principal repayments, 2021	11,200,000
Aggregate annual long-term principal repayments, 2022	11,200,000
Aggregate annual long-term principal repayments, 2023	75,900,000
Aggregate annual long-term principal repayments, 2024	$ 201,300,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Number Of Debt Instruments | credit_facility	1	2
Line of Credit Facility, Maximum Borrowing Capacity	$ 485,600,000	$ 371,500,000
Line of Credit Facility, Remaining Borrowing Capacity	250,600,000	30,400,000
Long-term Debt, Revolving Credit Facility, Decrease in Amount Available Remaining Fiscal Year	47,200,000
Long-term Debt, Revolving Credit Facility, Decrease in Amount Available Year Two	91,400,000
Long-term Debt, Revolving Credit Facility, Decrease in Amount Available Year Three	80,400,000
Long-term Debt, Revolving Credit Facility, Decrease in Amount Available Year Four	65,300,000
Long term Debt, Revolving Credit Facility Decrease in Amount Available Year Five	201,300,000
Total principal	$ 235,000,000	$ 341,132,000
Term Loans
Debt Instrument [Line Items]
Number Of Debt Instruments | credit_facility	1	3
Total principal	$ 86,681,000	$ 221,729,000
Debt instrument, interest rate, stated percentage	5.40%	5.40%
Debt Instrument, Collateral, Number of Vessels | vessel	4
Term Loan Due 2023 [Member]
Debt Instrument [Line Items]
Minimum liquidity covenant requirement	$ 35,000,000
Minimum liquidity as a percentage of consolidated debt covenant requirement	5.00%
2020DebtFacilityMaturinginDecember2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Collateral, Number of Vessels | vessel	31
Debt Instrument, Collateral Amount	$ 1,021,400,000
Debt Covenant Minimum Hull Coverage Ratio	125.00%
Actual Hull Coverage Ratio	379.00%
Minimum liquidity covenant requirement	$ 35,000,000
Minimum liquidity as a percentage of consolidated debt covenant requirement	5.00%
2020DebtFacilityMaturinginDecember2024 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total principal	$ 235,000,000
Guaranteed By Teekay Corporation | Term Loans
Debt Instrument [Line Items]
Minimum liquidity as a percentage of debt	7.50%
Maintain the greater of free cash liquidity	$ 100,000,000
Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Minimum [Member] | Term Loan Due 2023 [Member] | Term Loans
Debt Instrument [Line Items]
Debt Instrument, Term	6 months
Minimum [Member] | Guaranteed By Teekay Corporation | Term Loans
Debt Instrument [Line Items]
Debt Instrument, Term	6 months
Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.40%
London Interbank Offered Rate (LIBOR) [Member] | Term Loans
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.00%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Term Loans
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.30%
London Interbank Offered Rate (LIBOR) [Member] | Maximum | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		2.75%
London Interbank Offered Rate (LIBOR) [Member] | Maximum | Term Loans
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.00%
Subsequent Event [Member] | Term Loan Due 2023 [Member] | Term Loans
Debt Instrument [Line Items]
Debt Instrument, Collateral, Number of Vessels | vessel				4
Subsequent Event [Member] | Financial Guarantee [Member] | Term Loan Due 2023 [Member]
Debt Instrument [Line Items]
Number of Subsidiaries | Subsidiaries				5

Leases Finance Lease Obligation

Leases Finance Lease Obligation (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Finance Lease, Liability	$ 402,519	$ 414,788
Current obligations related to finance leases (note 7)	26,281	25,357
Long-term obligations related to finance leases (note 7)	$ 376,238	$ 389,431

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020USD ($)vessel	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Finance Leased Assets [Line Items]
Proceeds from financing related to sales and leaseback of vessels | $	$ 0	$ 63,720,000
Finance Lease, Weighted Average Discount Rate, Percent	7.60%		7.60%
Suezmax, Aframax and LR2 Vessels [Member]
Finance Leased Assets [Line Items]
Number Of Vessels	16
Number of Vessels with Purchase Option	16
Suezmax Tankers
Finance Leased Assets [Line Items]
Number Of Vessels	3
Minimum [Member]
Finance Leased Assets [Line Items]
Sale Leaseback Transaction, Lease Terms	P9Y
Maximum
Finance Leased Assets [Line Items]
Sale Leaseback Transaction, Lease Terms	P12Y
July 2017 Sale Leaseback [Member]
Finance Leased Assets [Line Items]
Debt Covenant Minimum Hull Coverage Ratio, Thereafter	100.00%
Debt Covenant Minimum Hull Coverage Ratio, Years 1, 2 and 3	90.00%
Actual Hull Coverage Ratio	129.00%		122.00%
September 2018 Sale Leaseback [Member]
Finance Leased Assets [Line Items]
Maintain 78% Hull Coverage Ratio for the Second Year	78.00%
Debt Covenant Minimum Hull Coverage Ratio, Thereafter	90.00%
Actual Hull Coverage Ratio	110.00%		115.00%
Maintain 80% Hull Coverage Ratio Year 3 & 4	80.00%
November 2018 Sale leaseback Transaction [Member]
Finance Leased Assets [Line Items]
Maintain 100% Hull Overage Ratio	100.00%
November 2018 Sale leaseback Transaction [Member] | Suezmax, Aframax and LR2 Sale Leaseback [Member]
Finance Leased Assets [Line Items]
Actual Hull Coverage Ratio	163.00%		158.00%
May 2019 Sale Leaseback [Member]
Finance Leased Assets [Line Items]
Debt Covenant Minimum Hull Coverage Ratio, Thereafter	90.00%
Debt Covenant Minimum Hull Coverage Ratio, Year 1	75.00%
Actual Hull Coverage Ratio	102.00%		109.00%
Debt Covenant Minimum Hull Coverage Ratio, Year 2	78.00%
Maintain 80% Hull Coverage Ratio Year 3 & 4	80.00%
Purchase Commitment [Member]
Finance Leased Assets [Line Items]
Number Of Vessels	8
Finance Lease Obligations [Member]
Finance Leased Assets [Line Items]
Minimum liquidity covenant requirement | $	$ 35,000,000
Minimum liquidity as a percentage of consolidated debt covenant requirement	5.00%
Finance Lease, Liability, Payment, Due | $	$ 573,900,000		$ 601,700,000
Finance Lease, Liability, Undiscounted Excess Amount | $	$ 171,400,000		$ 186,900,000
Finance Lease Obligations [Member] | Minimum [Member]
Finance Leased Assets [Line Items]
Debt Instrument, Term	6 months
Finance Lease Obligations [Member] | July 2017 Sale Leaseback [Member]
Finance Leased Assets [Line Items]
Number Of Vessels	4
Finance Lease Obligations [Member] | September 2018 Sale Leaseback [Member]
Finance Leased Assets [Line Items]
Number Of Vessels	6
Finance Lease Obligations [Member] | November 2018 Sale leaseback Transaction [Member]
Finance Leased Assets [Line Items]
Number Of Vessels	4
Finance Lease Obligations [Member] | May 2019 Sale Leaseback [Member]
Finance Leased Assets [Line Items]
Number Of Vessels	2

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Finance Leased Assets [Line Items]
Finance Lease, Liability, Payments, Due Next Twelve Months	$ 28,449,000
Finance Lease, Liability, Payments, Due Year Two	56,222,000
Finance Lease, Liability, Payments, Due Year Three	56,213,000
Finance Lease, Liability, Payments, Due Year Four	56,204,000
Finance Lease, Liability, Payments, Due Year Five	56,348,000
Finance Lease, Liability, Payments, Due after Year Five	320,481,000
Finance Lease Obligations [Member]
Finance Leased Assets [Line Items]
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line	35,000,000
Finance Lease, Liability, Payment, Due	573,900,000	$ 601,700,000
Finance Lease, Liability, Undiscounted Excess Amount	$ 171,400,000	$ 186,900,000

Leases Operating Leases (Detail

Leases Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Operating Leased Assets [Line Items]
Operating lease right-of-use assets (note 7)	$ 10,758	$ 19,560
Lessee, Operating Lease, Liability, Payments, Due Year Two	6,500
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 17,300

Derivative Instruments - Summar

Derivative Instruments - Summary of Interest Rate Swap Positions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Derivative [Line Items]
Realized gains (losses)	$ (114)	$ 800	$ 360	$ 1,741
Current portion of derivative assets (note 8)	0		0		$ 577
LIBOR-Based Debt:
Derivative liabilities (note 9)	(789)		(789)		0
Derivative Liability, Current	(414)		$ (414)		(86)
Minimum [Member]
LIBOR-Based Debt:
Debt Instrument, Basis Spread on Variable Rate			0.50%
Maximum
LIBOR-Based Debt:
Debt Instrument, Basis Spread on Variable Rate			3.50%
Interest rate swap agreement
Derivative [Line Items]
Realized gains (losses)	86	829	$ 609	1,783
Freight Forward Agreements [Member]
Derivative [Line Items]
Realized gains (losses)	(200)	$ (29)	(249)	$ (42)
Reported Value Measurement [Member]
Derivative [Line Items]
Current portion of derivative assets (note 8)	0		0		577
LIBOR-Based Debt:
Derivative Asset, Noncurrent	0		0		82
Accrued Liabilities (Receivables), Current	0		0		230
Derivative liabilities (note 9)	(789)		(789)		0
Derivative Liability, Current	(414)		(414)		(86)
Reported Value Measurement [Member] | Interest rate swap agreement
Derivative [Line Items]
Current portion of derivative assets (note 8)	0		0		577
LIBOR-Based Debt:
Derivative Asset, Noncurrent	0		0		82
Accrued Liabilities (Receivables), Current	0		0		230
Derivative liabilities (note 9)	(789)		(789)		0
Derivative Liability, Current	249		249		0
Reported Value Measurement [Member] | Freight Forward Agreements [Member]
Derivative [Line Items]
Current portion of derivative assets (note 8)	0		0		0
LIBOR-Based Debt:
Derivative Asset, Noncurrent	0		0		0
Accrued Liabilities (Receivables), Current	0		0		0
Derivative liabilities (note 9)	0		0		0
Derivative Liability, Current	165		$ 165		$ 86
London Interbank Offered Rate (LIBOR) [Member]
LIBOR-Based Debt:
Debt Instrument, Basis Spread on Variable Rate			3.50%
London Interbank Offered Rate (LIBOR) [Member] | United States Dollar Denominated Interest Rate Swaps One [Member]
Derivative [Line Items]
Derivative, Notional Amount	50,000		$ 50,000
Derivative, Fair Value, Net	$ (1,038)		$ (1,038)
LIBOR-Based Debt:
Remaining Term			4 years 6 months
Fixed Swap Rate	0.76%		0.76%

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020
Maximum
Derivative [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%
Minimum [Member]
Derivative [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%

Derivative Instruments - Locati

Derivative Instruments - Location and Fair Value Amounts of Derivative Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Current portion of derivative assets	$ 0	$ 577
Current portion of derivative liabilities (note 8)	414	86
Derivative liabilities (note 8)	$ 789	$ 0
Maximum [Member]
Derivatives, Fair Value [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.50%

Derivative Instruments - Gain (

Derivative Instruments - Gain (Loss) for Derivative Instruments Not Designated or Qualifying as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative [Line Items]
Realized gains (losses)	$ (114)	$ 800	$ 360	$ 1,741
Unrealized (losses) gains	(475)	(2,578)	(1,776)	(4,366)
Total	(589)	(1,778)	(1,416)	(2,625)
Interest rate swap agreement
Derivative [Line Items]
Realized gains (losses)	86	829	609	1,783
Unrealized (losses) gains	(483)	(2,699)	(1,697)	(4,470)
Total	(397)	(1,870)	(1,088)	(2,687)
Forward freight agreements
Derivative [Line Items]
Realized gains (losses)	(200)	(29)	(249)	(42)
Unrealized (losses) gains	8	121	(79)	104
Total	$ (192)	$ 92	$ (328)	$ 62

Other Income - Components of Ot

Other Income - Components of Other Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Liabilities Disclosure [Abstract]
Foreign exchange (loss) gain	$ (87)	$ 595	$ 1,048	$ 182
Other income	1,027	19	1,035	67
Total	$ 940	$ 614	$ 2,083	$ 249

Freight Tax and Other Tax Exp_3

Freight Tax and Other Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jan. 01, 2019	Sep. 30, 2018	Jan. 01, 2018
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits	$ 35,749	$ 35,749		$ 49,579	$ 35,792	$ 32,059
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions		(14,507)	$ (2,047)
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations		(812)	0
Tax Adjustments, Settlements, and Unusual Provisions	15,200
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions		1,489	$ 1,686
Settlement with Taxing Authority [Member]
Income Tax Contingency [Line Items]
Taxes Payable, Current	$ 8,600	$ 8,600

Financial Instruments - Summary

Financial Instruments - Summary of Fair Value and Carrying Value of Assets and Liabilities Measured on Recurring and Non-recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term Debt	$ (10,000)	$ (50,000)
Cash, cash equivalents and restricted cash	176,110	96,790	$ 40,782	$ 60,507
Operating lease right-of-use assets (note 7)	10,758	19,560
Long-term debt, including current portion (note 6)	(312,938)	(559,679)
Total obligations related to finance leases	(402,519)	(414,788)
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash	176,110	95,332
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term Debt	(9,991)	(50,000)
Long-term debt, including current portion (note 6)	(314,792)	(558,657)
Total obligations related to finance leases	(465,028)	(442,648)
Assets Held-for-sale, Long Lived, Fair Value Disclosure	0	37,240
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Level 2 | Interest rate swap agreement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	(1,038)	(659)
Estimate of Fair Value Measurement [Member] | Fair Value, Recurring [Member] | Level 2 | Forward freight agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	(165)	(86)
Estimate of Fair Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Operating lease right-of-use assets (note 7)	10,758
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash, cash equivalents and restricted cash	176,110	95,332
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term Debt	(10,000)	(50,000)
Advances to equity-accounted for joint venture	6,430	9,930
Long-term debt, including current portion (note 6)	(312,938)	(559,679)
Total obligations related to finance leases	(402,519)	(414,788)
Assets Held-for-sale, Long Lived, Fair Value Disclosure	0	37,240
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Level 2 | Interest rate swap agreement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	(1,038)	(659)
Reported Value Measurement [Member] | Fair Value, Recurring [Member] | Level 2 | Forward freight agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	(165)	$ (86)
Reported Value Measurement [Member] | Fair Value, Nonrecurring [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Operating lease right-of-use assets (note 7)	10,758
Ship To Ship Transfer Business [Member] | Ship To Ship Transfer Business [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accounts Receivable, Fair Value Disclosure	$ 12,800

Capital Stock and Stock-Based_2

Capital Stock and Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	100,000,000		100,000,000		100,000,000
Preferred stock, par value (usd per share)	$ 0.01		$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	585,000,000		585,000,000		585,000,000
Preferred stock, shares issued (in shares)	0		0		0
Restricted Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			78,300		53,800
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value			$ 1.3		$ 0.5
Class A
Class of Stock [Line Items]
Common Stock, Shares, Outstanding	29,100,000		29,100,000		29,000,000
Common stock, shares authorized (in shares)	485,000,000		485,000,000		485,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01		$ 0.01		$ 0.01
Common Stock, Voting Rights, Votes Per Share Owned			$ 1
Common stock, shares issued (in shares)	29,100,000		29,100,000		29,000,000
Class A | Restricted Stock Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			44,800		34,100
Class B
Class of Stock [Line Items]
Common Stock, Shares, Outstanding	4,600,000		4,600,000		4,600,000
Common stock, shares authorized (in shares)	100,000,000		100,000,000		100,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01		$ 0.01		$ 0.01
Common Stock, Voting Rights, Votes Per Share Owned			$ 5
Maximum percentage of voting power			49.00%
Common stock, shares issued (in shares)	4,600,000		4,600,000		4,600,000
General and Administrative Expense [Member]
Class of Stock [Line Items]
Employee Benefits and Share-based Compensation	$ 0.6	$ 0.2	$ 0.9	$ 0.6

Related Party Transactions - Su

Related Party Transactions - Summary of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Nov. 30, 2016
Related Party Transaction [Line Items]
Vessel operating expenses	$ (46,218)	$ (53,600)	$ (96,867)	$ (108,187)
Strategic and administrative service fees	(7,143)	(7,950)	(15,115)	(15,742)
Revenues	246,492	207,007	588,392	445,168
Due to Affiliate, Current	2,091		2,091		$ 2,139
Due from affiliates (note 13c)	2,440		2,440		697
Payable to Manager [Member]
Related Party Transaction [Line Items]
Due to Affiliate, Current	10,100		10,100		$ 7,900
Vessel operating expenses - technical management fee
Related Party Transaction [Line Items]
Vessel operating expenses	(248)	0	(496)	0
Secondment fees
Related Party Transaction [Line Items]
Strategic and administrative service fees	(144)	(40)	(242)	(99)
LNG terminal services revenue
Related Party Transaction [Line Items]
Revenue from Related Parties	0	1,000	0	2,129
Technical management fee revenues
Related Party Transaction [Line Items]
Revenue from Related Parties	169	169	338	427
Service revenues
Related Party Transaction [Line Items]
Revenue from Related Parties	$ 0	$ 67	$ 9	$ 217
Teekay LNG Operating LLC [Member] | Bahrain LNG W.I.L.
Related Party Transaction [Line Items]
Ownership percentage						30.00%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Working capital advanced to Pool Managers			$ 2,440,000	$ 697,000
Aframax Tanker | RSA Participants [Member] | Vessels Hire
Related Party Transaction [Line Items]
Amounts of transaction	$ 0	$ 2,000,000

Sale of Assets (Details)

Sale of Assets (Details) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Jul. 31, 2020USD ($)	Apr. 30, 2020USD ($)	Jun. 30, 2020USD ($)vessel	Mar. 31, 2020USD ($)	Jun. 30, 2020USD ($)vessel	Dec. 31, 2019vessel
Property, Plant and Equipment [Line Items]
Operating Lease, Impairment Loss			$ 0.7
Suezmax Tankers [Member]
Property, Plant and Equipment [Line Items]
Number Of Vessels | vessel			3		3
Number of Vessels Held for Sale | vessel						2
Gain (Loss) on sale of vessels					$ 0.1
Suezmaxes Tankers Three [Member]
Property, Plant and Equipment [Line Items]
Gain (Loss) on sale of vessels					$ 2.7
Suezmax Tanker Held For Sale [Member]
Property, Plant and Equipment [Line Items]
Gain (Loss) on sale of vessels			$ 0.5	$ (0.5)
Ship To Ship Transfer Business [Member] | Ship To Ship Transfer Business [Member]
Property, Plant and Equipment [Line Items]
Gain (Loss) on sale of ship-to-ship transfer business			3.1
Sale of ship-to-ship transfer business		$ 14.3	27.1
Adjustment for final amounts of cash and other working capital on closing date			$ 1.1
Ship To Ship Transfer Business [Member] | Subsequent Event [Member] | Ship To Ship Transfer Business [Member]
Property, Plant and Equipment [Line Items]
Sale of ship-to-ship transfer business	$ 12.7

Earnings (Loss) Per Share - Bas

Earnings (Loss) Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 98,198	$ 106,839	$ (14,307)	$ 12,447	$ 205,037	$ (1,860)
Weighted average number of common shares – basic (in shares)	33,727,978		33,623,800		33,698,972	33,604,397
Dilutive effect of stock-based awards (in shares)	250,752		0		263,539	0
Weighted average number of common shares – diluted (in shares)	33,978,730		33,623,800		33,962,511	33,604,397
Earnings (loss) per common share:
– Basic (usd per share)	$ 2.91		$ (0.43)		$ 6.08	$ (0.06)
– Diluted (usd per share)	$ 2.89		$ (0.43)		$ 6.04	$ (0.06)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - Class A - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		600		600
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	200	15	200	15

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Supplemental Cash Flow [Line Items]
Restricted cash – current (note 16)	$ 4,766	$ 1,916	$ 3,071	$ 2,153
Restricted cash – long-term (note 17)	3,437	3,437	3,437	3,437
Cash and cash equivalents and restricted cash	176,110	40,782	96,790	60,507
Cash and cash equivalents	167,907	35,429	88,824	54,917
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	0	25,656
Cash and Cash Equivalents [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Cash and cash equivalents	0	0	1,121	0
Restricted Cash [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Restricted Cash and Cash Equivalents	$ 0	$ 0	$ 337	$ 0

Liquidity (Details)

Liquidity (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Total principal	$ 321,681	$ 562,861
Term Loans
Total principal	$ 86,681	$ 221,729

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	Aug. 01, 2020USD ($)vessel	Jun. 30, 2020USD ($)vessel	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Long-term Debt | $		$ 312,938	$ 559,679
Term Loan Due 2023 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Long-term Debt | $	$ 67,400
Term Loans
Subsequent Event [Line Items]
Debt Instrument, Collateral, Number of Vessels | vessel		4
Term Loans | Term Loan Due 2023 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Debt Instrument, Collateral, Number of Vessels | vessel	4