Teekay Inks Term Charter for Two LNGCs

Bermuda-registered LNG carrier operator Teekay LNG Partners has secured new fixed-rate charters for two of its 52% owned LNG carriers, a 12-month charter on the Arwa Spirit and an eight-month charter on the Methane Spirit, it said April 3. The two carriers will start the charters upon completion and in direct continuation of their existing contracts.

“As we are an integral part of the world’s LNG supply chain, all of our vessels have continued to operate as expected under their existing fixed-rate contracts and I am pleased to report that, with these two new fixed-rate contracts, our LNG fleet is now 98% fixed though 2020 and 94% fixed for 2021,” Teekay Gas Group CEO Mark Kremin, said. 

Also, Teekay LNG said it has successfully refinanced its existing $225mn unsecured revolving credit facility, which was scheduled to mature in November 2020, with a new two-year facility of the same amount and pricing consistent with the previous facility.