Two MEGI LNG Carrier Newbuildings Start Working for Shell

Nov 10, 2017

Two MEGI LNG carrier newbuildings, the Macoma and Murex, which were delivered to Teekay LNG Partners in October and November 2017, have started their charters with Royal Dutch Shell (Shell).

The pair has been chartered out on six and seven-year charter contracts respectively, with the options for extensions.

The two large LNG carriers feature 173,000 cbm and 95,299 dwt each and have been built at Daewoo Shipbuilding and Marine Engineering (DSME) from South Korea.

Murex joined Shell’s technically managed fleet last week and is one of five new LNG carriers that Shell will welcome from their owners, subsidiaries of Teekay LNG Partners L.P. by mid-2018.

These vessels are powered by M-type, electronically controlled, gas injection (MEGI) engines.

“Welcoming the Murex and her four state-of-the-art sister vessels to our managed fleet is the perfect way to celebrate 125 years of delivering energy around the world. We are extremely proud of our long maritime history and continue to drive innovation in the industry,” Grahaeme Henderson, Vice President, Shell Shipping & Maritime said.

“We expect these newbuilding deliveries will have a positive contribution to our cash flows and earnings beginning in the fourth quarter of 2017. Looking ahead to 2018, we expect to take delivery of an additional eight LNG carrier newbuildings, all of which are scheduled to commence charter contracts ranging between six and 28 years in duration, which we expect will provide further cash flow and earnings growth to the Partnership,” Mark Kremin, President and Chief Executive Officer of Teekay Gas Group, said.

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