Teekay LNG Logs Improved 2Q Results
Teekay GP L.L.C., the general partner of Teekay LNG Partners L.P. today reported the Partnership's results for the quarter ended June 30, 2015. During the second quarter of 2015, the Partnership generated distributable cash flow(1) of $65.8 million, compared to $61.5 million in the same period of the prior year. The increase in distributable cash flow was primarily due to lower interest expense resulting from the December 2014 termination of capital leases for, and the subsequent refinancing of, three 70 percent-owned liquefied natural gas (LNG) carriers…
Teekay, BP Enter Deal for Newbuild LNG Tankers
Teekay LNG Partners L.P. announced that it has entered into a 13-year time-charter contract with BP Shipping Limited (BP) for one liquefied natural gas (LNG) carrier newbuilding, plus an option exercisable by BP by the end of the third quarter of 2015 for one additional LNG carrier under similar terms. The vessels, including the optional vessel if exercised, will primarily provide LNG transportation services for BP’s LNG volumes from the Freeport LNG project located on Quintana Island near Freeport, Texas, which consists of three LNG trains with a total capacity of 13.2 metric tons per annum, scheduled for start-up in 2018.
GasLog Ltd. Announces Delivery of 'Solaris'
GasLog Ltd. is pleased to announce the delivery of the fully owned LNG carrier Solaris, from Samsung Heavy Industries Co., Ltd. She today, commenced a medium-term charter to Shell Tankers Singapore (Private) Limited, a subsidiary of Royal Dutch Shell plc. The vessel is a 155,000 cubic meter tri-fuel Diesel Electric (TFDE) LNG carrier that sets new standards for efficient performance and environmental protection. The vessel is classified to the ABS ENVIRO+ notation, signifying the highest level of environmental protection and energy conservation. Furthermore…
