Teekay LNG inks two new charters

Teekay LNG Partners has secured new fixed-rate charters for two of its 52 percent-owned liquefied natural gas carriers.

The Bermuda-based LNG shipper said in a statement that the deals include a 12-month charter on the LNG carrier Arwa Spirit and an eight-month charter on the Methane Spirit.

Both of these charters will start upon completion and in direct continuation of their existing contracts in May and July 2020, respectively.

In addition, Teekay LNG has refinanced its existing $225 million unsecured revolving credit facility.

The shipping company refinanced the facility with a new two-year facility of the same amount.

The pricing is also consistent with the previous facility of LIBOR + 140 bps, Teekay LNG said.

Following the new charters, Teekay LNG’s almost entire fleet is under contracts with a 98 percent rate for this year.

The company’s fleet is 94 percent fixed for 2021.

Teekay has interests in 47 LNG carriers, 23 mid-size LPG carriers, and seven multi-gas carriers.

Most Popular

Venture Global’s Plaquemines LNG to commission fourth tank

US LNG exporter Venture Global LNG has received approval from the US FERC to commission the fourth storage tank with LNG at its Plaquemines plant in Louisiana.

Worley gets full notice to proceed on first phase of CP2 LNG project

Australian engineering firm Worley has received a full notice to proceed from US LNG exporter Venture Global LNG under its reimbursable EPC contract for the first phase of the CP2 LNG project in Louisiana.

US FERC issues final SEIS for NextDecade’s Rio Grande LNG project

The US Federal Energy Regulatory Commission (FERC) has released a final supplemental environmental impact statement for NextDecade's Rio Grande LNG facility and the accompanying pipeline in Texas. FERC continues to conclude that approval of the projects would result in "less than significant impacts."

More News Like This

Seapeak buys Navigare’s LNG carrier for $213 million

The LNG carrier in question is the 174,000-cbm dual-fueled, Marvel Swan. Seapeak, previously known as Teekay LNG Partners, said in...

Seapeak seals sale and leaseback deal for one LNG carrier

The shipping company revealed this in its second-quarter results report. According to the report, the LNG carrier in question is...

Wartsila, Seapeak extend LNG carrier maintenance deal

Finland’s Wartsila has signed a 16-year lifecycle agreement with Stonepeak’s Seapeak for ten liquefied natural gas (LNG) carriers. The contract...

Seapeak says working on charter and other opportunities for six LNG carriers

Stonepeak's Seapeak is pursuing various opportunities relating to six of its liquefied natural gas (LNG) carriers which are scheduled...