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The LNG carrier in question is the 174,000-cbm dual-fueled, Marvel Swan.
Seapeak, previously known as Teekay LNG Partners, said in its third-quarter results report it had purchased a 100 percent interest in the vessel on October 24.
As part of the acquisition, Seapeak assumed the existing time-charter contract which has a firm period ending in 2030, with extension options of up to two years, exercisable by the charterer.
Seapeak initially funded the vessel purchase using a portion of its existing liquidity and intends to secure long-term financing on the vessel by early 2025.
Danish investment firm Navigare Capital Partners took delivery of Marvel Swan, its first LNG carrier, from South Korea’s Samsung Heavy Industries in April 2021.
The LNG carrier serves a charter deal with Japan’s trading house Mitsui & Co.
Moreover, the 293-meter-long vessel ships Mitsui’s offtake volumes from Sempra’s Cameron LNG plant in Louisiana.
Marvel Swan features dual-fuel propulsion but also GTT’s Mark III Flex membrane tank tech.
According to VesselsValue data, Navigare ordered the LNG carrier at Samsung Heavy in 2018 for $186 million.
49 LNG carriers
Teekay LNG Partners rebranded as Seapeak in 2022 following the completion of its $6.2 billion merger deal with New York-based private equity firm Stonepeak Infrastructure Partners.
As of September 30, 2024, Sepeak’s LNG fleet included 49 LNG carriers, the third-quarter report shows.
This includes five LNG carriers under construction and one LNG regasification terminal in Bahrain.
Seapeak’s interest in these vessels ranges from 20 percent to 100 percent.
The company said in March in its 2023 report that it was pursuing various opportunities related to six of its LNG carriers which are scheduled to complete their charter contracts between June 2024 and June 2025.
The six LNG carriers are Seapeak Hispania, Seapeak Catalunya, Seapeak Madrid, Seapeak Vancouver, Seapeak Methane, and Seapeak Magellan.
According to the new quarterly report, Seapeak Hispania was temporarily idle between the scheduled completion of its previous charter contract and the start of new short-term charter contracts.
Seapeak did not provide further information.