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.

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