Teekay Firms Shuttle Tanker Order at SHI

South Korean shipbuilder Samsung Heavy Industries (SHI) has sealed the order for two Suezmax-size DP2 shuttle tankers with Teekay Offshore Partners (TOO).

The shipbuilder said today in an exchange filing that it has signed a sales and supply contract with Teekay for the tanker pair.

The contract, worth KRW 309.2 billion (USD 274 million), contains options for two additional vessels.

SHI’s current orderbook value stands at KRW 10.4 trillion.

The two ships are slated for delivery by January 2020.

Earlier this month, Teekay said that, upon delivery, the 154,000 dwt vessels will provide shuttle tanker services in the North Sea under Teekay Offshore’s existing master agreement with Statoil ASA (Statoil).

As informed, the new vessels will be constructed based on TOO’s new Shuttle Spirit design which incorporates technologies aimed at increasing fuel efficiency and reducing emissions, including LNG propulsion technology.

What is more, Teekay Offshore revealed plans to transfer its shuttle tanker business into a new subsidiary, Teekay Shuttle Tankers (ShuttleCo).

World Maritime News Staff