An investment opportunity was provided when Teekay Offshore (TOO) and the related preferreds (TOO.PA) (TOO.PB) and (TOO.PE) plunged along with many shipping companies on the trade dispute talks (especially perceived setbacks). But Teekay Offshore was never a traditional shipping company. Its ships are assigned to oil fields and the contracts are relatively long. Therefore, the company has very little to do with the trade war talk and a potential recession.
Source: Seeking Alpha Website February 9, 2019
Clearly, the earnings report and conference call was a wake-up