Portuguese 
English 
Spanish 
2 min of reading 
Teekay Offshore Partners’ Partners Confirm More Two Orders for Tankers from Shuttle A Turner Offshore Partners, Who Placed Their Order at Samsung Heavy Industries (SHI)
Namely, in July 2018, Teekay Offshore Partners signed a contract with SHI for two new builds of DP2 LNG-powered Aframax shuttle tankers. The two are expected to be delivered in late 2020 and early 2021. The order was made in early July; however, when asked, Teekay’s spokesperson stated that they could not confirm the deal. The first units of the batch were ordered in August 2017 under a contract covering two firm units and two options.
The two additional tankers were ordered in November 2017, raising the construction cost to US$ 265 million. The vessels will provide tanker transportation services in the North Sea under Teekay Offshore’s main contract with Statoil ASA (Statoil). SHI marked the start of the construction of the first LNG shuttle tanker in the series by holding a steel cutting ceremony at its shipyard in Geoje, Korea, on July 2.
Teekay Offshore Partners reported a GAAP net loss of US$ 168.5 million, impacted by US$ 181.4 million in non-cash assets and an adjusted net loss of US$ 0.7 million in the second quarter of 2018.
-
Earthshot offers £1 million to any person or team around the world who presents ideas capable of “fixing the planet” before 2030: Earthshot seeks real solutions against pollution, waste, ocean collapse, climate crisis, and accelerated loss of nature
-
Saltwater is encroaching on coastal aquifers worldwide: a study with 480,000 monitoring points reveals where underground freshwater reserves are becoming vulnerable to seawater intrusion.
-
Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
-
Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
“For the second quarter, our results were better than our guidance, primarily due to stronger than expected results from our chartering fleet (CoA) and lower operating expenses across several FPSO units,” commented Ingvild Sæther, President and CEO of FPSO Teekay Offshore Group Ltd.
“However, as expected, our overall results fell compared to the previous quarter, primarily due to lower rates on the Voyageur Spirit and Ostras FPSO units as a result of contract extensions, higher interest expenses, and liquidated damages received from a towage delivery in the last quarter, partially offset by the commencement of FPSO Petrojarl I in May 2018.”
The FPSO Voyageur Spirit secured a contract extension at least until April 2020, and the FPSO Ostras managed a contract extension until November 2018, along with extension options, providing an additional fixed revenue of over US$ 70 million.
“In July 2018, we refinanced our 2019 bond maturities and the US$ 200 million promissory note due in 2022 with a new US$ 700 million unsecured offering, significantly improving the debt maturity profile of the partnership and further underscoring the strong support from Brookfield for the partnership. US$ 300 million of new capital was provided by Brookfield for this bond offering. Following the bond offering, Brookfield exercised its option to acquire an additional 2% of our general partner, raising its overall stake in our general partner to 51%,” Sæther added.
Be the first to react!