Teekay LNG Partners and Shell sign five newbuild LNG charters

2014-12-05

Teekay LNG Partners and Shell have signed charters ranging from six to eight years for five newbuild LNG carriers.

The 173,400 cu m ships will operate in Shell's fleet from their delivery from Daewoo Shipbuilding and Marine Engineering (DMSE) in the second half of 2017 and 2018. The charters include extension options.

Dr. Grahaeme Henderson, vp of Shell Shipping & Maritime, commented: “We are pleased to have signed this deal with a leading company like Teekay LNG, further strengthening our relationship with them... We look forward to welcoming these cutting-edge M-type, Electronically Controlled, Gas Injection (ME-GI) engine vessels into our LNG fleet which is one of the largest and most technically advanced in the world.”

“This accretive transaction both builds on our strong existing relationship with Shell and represents another milestone for the adoption of fuel-efficient MEGI-propelled LNG carriers as Shell will be among the first of the energy majors to bring ME-GI vessels into its fleet,” said Peter Evensen, ceo of Teekay GP LLC.

Source from : Seatrade Global

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