The big yield preferred shares of Altera (formerly Teekay Offshore, until Brookfield renamed it) will benefit in the near to mid term from from oil price contango. More specifically, Altera's shuttle tanker business is enjoying significant but temporary tailwinds due to the surge in oil storage demand. Fixed term and fixed rate contracts with blue chip clients will also help protect the top line. Altera has a comfortable near-term debt maturity schedule and sufficient cash cushion to support the dividend. The broader market sell off has created an attractive buying opportunity.