Teekay Offshore delays two floating accommodation vessel deliveries

Teekay Offshore delays two floating accommodation vessel deliveries

Teekay Offshore Partners (TOP) has delayed delivery of two semi-completed hulls, which are being converted to “high-end” floating accommodation units (FAUs) at two Cosco shipyards for TOP’s Norwegian subsidiary Logitel Offshore Holding.

The first converted FAU, the Arendal Spirit, was delivered to the shipowner in February. The unit commenced three-year fixed-rate timecharter to Petrobras in Brazil on June 7.

The second unit, which is being converted at Cosco (Nantong) Shipyard, was due to arrive in October this year but has now been delayed by up to 12 months.

The third unit, which is undergoing work at Cosco (Qidoing) Offshore Co, was scheduled to arrive in the first quarter 2017 but will now arrive 120 days later in the second quarter.

“The partnership expects to secure charter contracts for these newbuildings prior to their respective current scheduled deliveries in the third quarter of 2016 and the second quarter of 2017,” TOP said in its financial results for the second quarter 2015.

All the other terms of the shipbuilding contract remain unchanged, Cosco Corp (Singapore) said in a statement today.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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