| Summary of Related Party Transactions |
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Teekay and its wholly-owned
subsidiary and the Company’s manager, Teekay Tankers
Management Services Ltd. (the Manager), provide commercial,
technical, strategic and administrative services to the Company. In
addition, certain of the Company’s vessels participate in
pooling arrangements that are managed in whole or in part by
subsidiaries of Teekay (collectively the Pool Managers). The
Company also has chartered out tankers to Teekay. For additional
information about these arrangements, please read “Item 7
– Major Shareholders and Related Party Transactions –
Related Party Transactions – Pooling Agreements” in our
Annual Report on From 20-F for the year ended December 31,
2012. Amounts paid by the Company for such related party
transactions for the periods indicated were as follows: |
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Three
Months
Ended |
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Six Months
Ended |
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June 30,
2013 |
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June 30,
2012 |
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June 30,
2013 |
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June 30,
2012 |
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$ |
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$ |
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$ |
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$ |
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Time-charter revenues (i)
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3,671 |
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3,671 |
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7,302 |
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7,342 |
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Pool management fees and commissions (ii)
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967 |
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801 |
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1,997 |
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1,647 |
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Commercial management fees (iii)
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264 |
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204 |
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570 |
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421 |
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Vessel operating expenses—crew training
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268 |
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522 |
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666 |
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1,102 |
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Vessel operating expenses—technical management fee
(iv)
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1,412 |
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2,080 |
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2,859 |
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4,152 |
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General and administrative (v)
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2,717 |
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1,041 |
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5,446 |
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2,017 |
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General and administrative—Dropdown Predecessor
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— |
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1,697 |
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— |
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2,958 |
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Interest Expense—Dropdown Predecessor
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— |
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5,335 |
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— |
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11,658 |
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