• 2019 October 27 14:28

    Teekay and Teekay LNG announce resolution to China LNG JV

    With reference to a press release issued on September 30, 2019, Teekay Corporation (Teekay) (NYSE:TK) and Teekay LNG Partners L.P. (Teekay LNG) (NYSE:TGP) announced on Oct 22 that COSCO Shipping Energy Transportation Co., Ltd. has completed an ownership restructuring on arms-length terms which has resulted in Teekay LNG’s joint venture partner, China LNG Shipping (Holdings) Ltd. (China LNG), no longer being classified as a “Blocked Person” under Office of Foreign Assets Control (OFAC) rules.  Accordingly, Teekay LNG’s 50/50 joint venture with China LNG, which owns four on-the-water ARC7 LNG carriers and two ARC7 LNG carrier newbuildings, is also no longer classified as a “Blocked Person” under OFAC rules.

    The four existing ARC7 LNG carriers are continuing to operate under their long-term contracts transporting gas from the Yamal LNG project and the remaining two ARC7 LNG carrier newbuildings are expected to deliver in the fourth quarter of 2019.

    As a result of the resolution of this issue, the Teekay Group is now planning to reschedule its previously-postponed investor and analyst meeting and expects to provide details soon.

    About Teekay

    Teekay is a leading provider of international crude oil and gas marine transportation services and also provides offshore oil production. Teekay provides these services primarily through its directly-owned fleet and its controlling ownership interests in Teekay LNG Partners L.P. (NYSE:TGP), the world’s third largest independent owner and operator of LNG carriers, and Teekay Tankers Ltd. (NYSE:TNK), one of the world’s largest owners and operators of mid-sized crude tankers. The consolidated Teekay entities manage and operate total assets under management of approximately $12 billion, comprised of approximately 150 liquefied gas, offshore, and conventional tanker assets. With 12 operating offices around the world and approximately 5,700 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world’s leading oil and gas companies.

    Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”.

    About Teekay LNG

    Teekay LNG Partners is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG marine transportation services primarily under long-term, fee-based charter contracts through its interests in 49 LNG carriers (including two newbuildings), 22 mid-size LPG carriers and seven multi-gas carriers. The Partnership’s ownership interests in these vessels range from 20 to 100 percent. In addition, the Partnership owns a 30 percent interest in a regasification terminal, which is currently under construction. Teekay LNG Partners is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

    Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbol “TGP”, “TGP PR A” and “TGP PR B”, respectively.




2020 August 4

18:36 UK publishes Guidance on financial sanctions for Maritime Industry
18:21 Avance Gas sells 2003-built VLGC Avance
17:45 Klaveness Combination Carriers takes delivery of the fourth CLEANBU vessel
17:03 Tallink Grupp publishes July 2020 passenger and cargo statistics
16:58 ADNOC L&S and Wanhua Chemical Group form Strategic Shipping Joint Venture
16:33 Dredging of Utrenny LNG terminal’s basin kicked off
16:02 MHI-MME receives generator turbine and VOC firing auxiliary boiler orders for shuttle tankers
15:51 Flag, coastal and port authorities from eight countries come together to encourage development of maritime autonomous surface ships
15:43 Port of Ust-Luga MRC’ priority is taking care of employees
14:50 NOVATEK’s transshipment terminal in Port of Ust-Luga undergoes overhaul
14:02 Stena Line starts new service Liepaja - Karlskrona - Travemünde
13:26 MRA sets its sights on distance training
13:12 DEME repatriates 75 Philippine crew members from 12 vessels worldwide by charter flight from Brussels South to Manila
12:15 Evergreen joins the Ship Recycling Transparency Initiative
11:07 The port of Kiel starts the Cruise Season 2020
10:22 Bunker sales in Vladivostok in Jan-Jul plummet 30%
09:36 Baltic Dry Index as of Aug 31
09:30 Crude oil futures become cheaper
09:23 MABUX: Bunker market this morning, Aug 04

2020 August 3

18:43 CMA CGM announces Peak Season Surcharge rates from North Europe to Indian Subcontinent
18:06 Total seven-month cargo traffic in Azov-Don basin in Jan-Jul down 6%
17:55 Inmarsat, Thetius and Shell Shipping and Maritime launch 'Crew Welfare Open Innovation Challenge'
17:25 The PV300 MS Mustai Karim leaves Krasnoye Sormovo Shipyard basin, sets sail for St. Petersburg
16:42 Spot market price for Russian M100 product ended week higher
16:06 Russian Gov’t approves regulation on crab boats construction incentives
15:32 Kalmar delivers four medium and heavy forklifts to support Yizheng Port in meeting safety and environmental requirements
15:26 RZD seven-month loaded freight down 4.4%
14:18 Ust-Luga Company wins the Ust-Luga Cup 2020
13:24 Borr Drilling Limited enters into a new contract and LOIs for three rigs
13:08 Long-awaited project of Kalmykia’s Lagan Port becomes part of the federal transport territorial planning
12:46 MSC Cruises and Palumbo Group form joint venture to operate the Palumbo Malta Shipyard
12:23 OHT wins contract for transport and installation of foundations at Dogger Bank
12:20 RZD to resume traffic via new rail bridge across the Kola as of October 1
11:46 Eagle Bulk reports the successful resolution of security incident onboard vessel
11:10 Buyan-class corvette Grayvoron departs for Novorossiysk sea trials base
09:48 Crude futures prices edge down
09:41 MABUX: Bunker market this morning, Aug 03
09:16 Baltic Dry Index as of July 31

2020 August 2

16:03 Kirby Corporation announces 2Q, 2020 Results
15:31 Bollinger delivers second of three USCG FRCs to be home-ported in Guam
14:37 Dennis de Bruin appointed Managing Director of Commercial Shipping Europe
13:52 ABS supports global offshore wind development with updated guidance
12:35 USCG sets port condition Zulu for Ports of Miami and Key West
11:24 Tony Goldsmith announced as new head of marine at law firm Hill Dickinson as David Wareing steps down
10:52 Sea Machines partners with Maine Maritime Academy & MARAD to include intelligent vessel systems in curriculum

2020 August 1

14:21 U.S. appoints coordinator for the Arctic Region
13:14 CMA CGM announces GRR for Asia-West Africa trade
12:44 Polarcus awarded 3D project in Asia Pacific
11:31 Pacific Basin announces 2020 interim results
10:53 EBRD supports decarbonisation of energy sector in Cyprus

2020 July 31

18:26 Fincantieri BOD approves 1H 2020 results
18:07 Vostochnaya Verf to launch 03141-series first crab catcher in autumn 2020
17:36 Holland America Line changes name of newbuild to Iconic Rotterdam and designates it the new flagship
17:07 October Revolution Shipyard rolls out small seiner for a Kamchatka fishing company
17:06 Alfa Lift signs contract for transport and installation of foundations at Dogger Bank
16:44 Ship recycling in Bangladesh leaps forward with third phase of key project signed
16:05 Cox production diesel outboards make their way to North America
15:36 Port of Vancouver USA receives longest wind blades ever
14:42 USCG medevacs mariner 35 miles offshore Freeport, Texas
13:44 OOCL announces new China Indonesia Philippines service