The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

TeeKay Shipping opts for XRT's Enterprise Suite

Teekay Shipping, the world's largest operator of midsized oil tankers, has selected the XRT Enterprise Suite (XES) to centrally manage its global treasury operations, including cash, liquidity and risk.

"We chose the XRT Enterprise Suite because of its integrated communications module and its ability to manage cash," said Vince Lok, senior vice president and treasurer of Teekay Shipping. "XRT's extensive experience in dealing with foreign banks and its strong presence in Europe, which will provide us with localized support on a global scale, were also important considerations in our decision." 

With operations in 14 countries, Teekay will utilize XES to automatically link information from Teekay's banks to its corporate accounting system in Canada. This includes debt, investments, foreign exchange and other treasury activities - all in an airtight secure environment. As a result, Teekay expects to be able to eliminate a number of manual processes, which will improve data integrity and save time and money.

"XES integrates and delivers critical financial information across the organization to streamline collaboration and provide extended visibility into key business operations," said Glen Solimine, vice president of XRT North America. "We are excited to be working with Teekay to help improve global visibility of the company's cash."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree