Teekay Announces Pricing of Initial Public Offering

Thursday, December 14, 2006
Teekay Offshore Partners L.P. announced that it has priced its initial public offering of 7,000,000 of its common units at $21.00 per unit. The 7,000,000 common units represent a 35.0% limited partner interest in the master limited partnership and the offering will increase to 8,050,000 common units if the underwriters exercise in full their over-allotment option. Teekay Shipping Corporation owns the remaining interests in the partnership, including common units, subordinated units, incentive distribution rights and its 2% general partner interest. The common units will trade on the New York Stock Exchange under the symbol "TOO." Citigroup Corporate and Investment Banking and Merrill Lynch & Co. acted as joint book-running managers and representatives of the underwriters, which include Morgan Stanley, A.G. Edwards, Deutsche Bank Securities, Raymond James, Simmons & Company International, DnB NOR Markets and Fortis Securities.

Fuels & Lubes

MN100: Klüber Lubrication NA LP

The Company: Klüber Lubrication is one of the world’s leading manufacturers of specialty lubricants, offering high-end tribological solutions to virtually all industries and markets worldwide.

MN100: FloScan Instruments, Inc.

The Company: FloScan designs and manufactures Fuel Monitoring Systems for use on a wide range of diesel powered commercial vessels on every continent including ocean-going,

Tanker Market: ‘New Normal’ Drives Downbeat Summer Sentiment

The tanker market is forecast to see challenging conditions with technical and structural factors impacting earnings, according to independent research and consultancy

 
 
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