Soaring demand: Teekay Tankers is seeing record spot rates for its tankers as the Iran conflict continues (Photograph by Teekay Tankers)Teekay Corporation reported sharply higher second-quarter earnings as its subsidiary, Teekay Tankers, delivered the strongest adjusted quarterly profit in its history amid record spot tanker rates. Revenue increased to $379.1 million from $232.2 million, while income from operations more than quadrupled to $220.8 million from $52.7 million. The strong performance was driven by Teekay Tankers, which achieved record spot tanker rates during the quarter, as hostilities continued in the Middle East region, disrupting maritime traffic through the Strait of Hormuz. Average Suezmax spot rates reached $109,200 per day, while Aframax/LR2 tankers earned an average of $74,100 per day, both records for the company. Teekay Tankers has also continued its fleet renewal programme.