New shuttle tankers for Teekay’s new subsidiary

Teekay Offshore has conditionally ordered two new shuttle tankers from South Korea’s Samsung Heavy Industries.

The company, providing oil and gas shipping and production units to the oil and gas industry, has recently formed a separate shuttle tanker subsidiary, called Teekay Shuttle Tankers, into which it will transfer all of its shuttle tanker business.

A shuttle tanker is a vessel used for offloading of oil from offshore installations, as an alternative to constructing oil pipelines.

Coinciding with the formation of the shuttle tanker company, Teekay Offshore on Wednesday said it had entered into conditional shipbuilding contracts with Samsung Heavy Industries Co., Ltd. to construct two Suezmax DP2 shuttle tanker newbuildings with options to order up to two additional vessels.

These newbuilding vessels will be constructed based on Teekay’s new Shuttle Spirit design.

According to Teekay, the design incorporates proven technologies to increase fuel efficiency and reduce emissions, including LNG propulsion technology.

Upon delivery scheduled in 2019 and 2020, these vessels will provide shuttle tanker services in the North Sea under the Partnership’s existing Master Agreement with Statoil and will free up required vessel capacity to service Teekay Offshore’s contract of affreightment (CoA) fleet in the North Sea.

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2019 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Fuel Cell Expo 2019

FC EXPO is world’s largest show for hydrogen & fuel cell…

read more >

LNG Bunkering Summit 2019

LNG Bunkering Summit will cover the obstacles facing both the shipping and port communities…

read more >

Egypt Petroleum Show

This event will feature 500+ regional & international exhibiting companies from over 35 countries…

read more >

IoT in Oil & Gas 2019

The IoT in Oil & Gas 2019 Conference will continue to focus on helping operators…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply