Teekay Offshore secures funding for suezmax quartet

Teekay Offshore secures funding for suezmax quartet

Teekay Offshore Partners has sealed a new $414m debt facility to finance its four LNG-fueled suezmax shuttle tanker newbuildings, currently under construction at South Korea’s Samsung Heavy Industries.

The vessel are scheduled for delivery in 2019 and 2020, with two of them headed for operations with Equinor and the other two joining the partnership’s contract of affreightment shuttle tanker portfolio in the North Sea.

The facility is funded and guaranteed by both Canadian and Norwegian export credit agencies, and commercial banks.

Ingvild Sæther, president and CEO of Teekay Offshore Group, commented: “We are grateful for the continued strong support we receive from our growing bank group, as represented by our new $414 million debt facility.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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