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Bjorn Moller News

24 Jun 2020

Moller Retires from Teekay Board

(File photo: Teekay)

Bjorn Moller is retiring from Teekay Corporation’s Board of Directors, the shipowner announced Wednesday.Moller has more than 35 years of service with the Teekay, including 22 years as a board member and more than 20 years in senior management positions. He was Teekay’s President and Chief Executive Officer from 1998 to 2011.Moller also served as Vice Chairman of Teekay GP L.L.C., the general partner of Teekay LNG Partners L.P., Vice Chairman of Teekay Offshore GP L.L.C., the general partner of Teekay Offshore Partners L.P.

15 Mar 2019

Teekay Changes Board of Directors

The marine energy transportation company Teekay Corporation and its associate company Teekay Tankers have announced changes to its Board of Directors.Teekay Corporation said that C. Sean Day, Chairman Emeritus and Director, Tore Sandvold, Director, and Peter S. Janson, Director, are retiring from the Board after a combined 50 years with the Company’s Board. Day will remain as a Director of Teekay GP LLC (the general partner of Teekay LNG Partners LP).William (“Bill”) P. Utt will be stepping down from his role as Chairman and Director of the Company and as a Director of Teekay GP LLC, but will remain as Chairman and Director of Teekay Offshore GP LLC (the general partner of Teekay Offshore Partners LP).The Board has selected current Teekay director…

01 Mar 2011

Teekay Tankers Q4 & Year End Results

Teekay Tankers Ltd. ·         Declared a cash dividend of $0.22 per share for the quarter ended December 31, 2010. ·         Reported fourth quarter adjusted net income of $2.6 million, or $0.05 per share (excluding specific items which increased GAAP net income by $5.2 million, or $0.10 per share). ·         Over 60 percent of fourth quarter revenue days earned average fixed time-charter rate of $24,390 per day; significantly above average spot TCE of $14,779 per day earned on remaining spot revenue days. ·         Completed acquisition of one Suezmax tanker and one Aframax tanker for a total cost of $107.5 million. ·         In January 2011, commenced a 23-month extension of an existing Suezmax tanker time-charter.

14 Jan 2011

Teekay Announces Senior Management Appointments

Teekay Corporation (Teekay or the Company) (NYSE:TK) announced that its current President of its Shuttle Tanker and FSO business unit, Kenneth Hvid, has been appointed to the position of Executive Vice President and Chief Strategy Officer effective April 1, 2011. In his new role, Mr. Hvid will be located in Vancouver, Canada and will be succeeding Peter Evensen, who will take over as Teekay's President and Chief Executive Officer in April 2011 as a result of the previously announced retirement of Bjorn Moller.Mr. Hvid joined Teekay in 2000 from A.P. Moller, and was responsible for leading the Company's global procurement activities until he was promoted in 2004 to Senior Vice President, Teekay Gas Services. During this time, Mr.

04 Sep 2009

Teekay Corp. Reports Q2 Results

Teekay Corporation (Teekay or the Company) (NYSE:TK) reported an adjusted net loss attributable to stockholders of Teekay(1) of $21.8 million, or $0.30 per share, for the quarter ended June 30, 2009, compared to adjusted net income of $77.1 million, or $1.05 per share, for the same period of the prior year. Adjusted net income (loss) attributable to stockholders of Teekay excludes a number of specific items which had the net effect of increasing net income by $181.2 million (or $2.49 per share) for the three months ended June 30, 2009 and $106.3 million (or $1.45 per share) for the three months ended June 30, 2008, as detailed in Appendix A to this release.

18 Dec 2008

Frontline, Teekay to Expand Suezmax Pool

Hamilton, Bermuda, December 15, 2008 – Teekay Corporation and Frontline Ltd. announced an agreement to commercially combine their Suezmax vessels within the Gemini Pool, a Suezmax tanker pool serving customers around the globe. Frontline will place its spot Suezmax vessels within the Gemini Pool, bringing the total number of vessels in the pool to 36. To manage the larger fleet and establish a chartering presence in Europe to supplement its existing Stamford, Connecticut operations, Gemini has opened an office in Oslo and four commercial personnel from Frontline have joined the new office. “Frontline has always been a frontrunner in consolidating the tanker industry and entering the Gemini Pool is an important element in such.

20 Jun 2008

Teekay Invests $257m in Teekay Petrojarl

Teekay Corporation announced that its wholly owned subsidiary, TPO Investments AS (TPO), has acquired an additional 30.1 percent interest (22.6 million common shares) in Teekay Petrojarl ASA (Teekay Petrojarl) from Prosafe Production (Prosafe) at a price of NOK 59 per share. Teekay Petrojarl is a leading operator of Floating Production Storage and Offloading (the North Sea and is listed on the Oslo Stock Exchange (OSE: PETRO). The total purchase price of approximately $257 million will be settled in cash. As a result of this transaction, Teekay’s total ownership of Teekay Petrojarl has increased to approximately 94.8 percent from 64.7 percent.

16 May 2008

Teekay Announces Dividend

Teekay Tankers Ltd. announced a cash dividend of $0.70 per share for the quarter ended March 31, 2008. This dividend is payable on May 30, 2008 to all shareholders of record on May 23, 2008.  "We are pleased to declare Teekay Tankers' first full quarter dividend since its initial public offering," stated Bjorn Moller, Teekay Tankers' Chief Executive Officer. "Spot tanker freight rates in the second quarter to-date have exceeded the average rates in the first quarter. Coupled with our recent acquisition of two Suezmax tankers in April 2008, we expect to generate more cash available for distribution in the second quarter."

10 Dec 2003

Amended IMO Regulations Positive for Teekay

The International Maritime Organization (IMO) has announced stricter regulations governing the tanker industry on a worldwide basis. The IMO regulations, scheduled to become effective April 5, 2005, will accelerate the mandatory phase-out of single-hull tankers as well as impose a more rigorous inspection regime for older tankers. The regulations will ban the oldest single-hull tankers, representing approximately 12 percent of the current world tanker fleet, from worldwide trading by the end of 2005. It is expected that a further 25 percent of the existing world tanker fleet will be excluded from the majority of the oil tanker trades by 2010.

16 Mar 2004

Teekay Acquires Spanish LNG and Oil Shipping Company

Teekay Shipping Corporation has entered into a definitive agreement to acquire Naviera F. Tapias S.A. Teekay has also entered into an agreement with the shareholders of Tapias to establish a 50/50 joint venture that will pursue new business in the oil and gas shipping sectors, focusing specifically on the Spanish market. The Tapias acquisition will establish Teekay's presence in LNG shipping, one of the fastest growing sectors of sea-borne energy transportation. It will position the Company as a key supplier of LNG shipping to Spain, the world's third largest importer of LNG, and provide a strategic growth platform for Teekay. As a major provider of crude oil transportation to Spain, the acquisition of Tapias will also extend Teekay's leading position in the crude oil tanker sector.

09 Mar 2001

Teekay Acquisition May Lead to Another Merger

International tanker group Teekay's acquisition of a majority of the world's biggest shuttle-tanker owner Ugland Nordic Shipping could lead to a second merger to dominate the sector, with Statoil's tanker subsidiary Navion, analysts said. Norwegian energy giant Statoil is close to being privatized, and the future direction of Navion, in which it holds 80 percent, is uncertain. Co-owner of Navion, Norway's Rasmussen group, last month bought a major stake in Ugland, and analysts said this was the first step towards an Ugland-Navion merger. Both Teekay and Rasmussen now seem open to the possibility that one huge merger involving all four parties could still go ahead. Ugland Nordic has a fleet of 14, and four more on order.

21 Feb 2006

Teekay to Pursue FPSO Projects

Production Storage and Offloading (FPSO) units. and Chief Executive Officer. that will result from this increased offshore oil production. Mr. customers and should increase our investment in this area. Production Espen Klitzing. The joint venture will only encompass new projects. venture. venture are to be finalized during the second quarter of 2006.

16 Dec 2002

Teekay Buys Navion for $800M

Teekay Shipping Corporation announced that it will buy Statoil's wholly-owned shipping company, Navion ASA, on a debt free basis, for approximately $ 800 million in cash. The transaction positions Teekay as a strategic logistics provider of shuttle tanker services to Statoil and other oil companies, and increases Teekay's presence in the conventional crude oil and product tanker trades. In 2001, Navion transported a total of 160 million tons of crude oil and petroleum products, exceeding the 135 million tons carried by Teekay in that year. Operating from Stavanger, Norway, Navion has built a leading franchise in the complex North Sea offshore loading business.

20 Aug 1999

Teekay Shipping: Staying One Step Ahead

Events of the past two years — headlined by the Asian financial crisis, supported by falling oil demand and punctuated by OPEC's production cutbacks to buoy per barrel pricing — have conspired to throw and keep the tanker market into a historical abyss. In an industry renowned for its ups and downs, this was a “down” for the record books. Consequences of poor rates for the transport of oil products have and will be debated for years, but relying on the cliche “if it doesn't kill you, it will only make you stronger,” it would appear that the companies left standing — those not acquired, merged or simply shut down — should be poised to capitalize on favorable market conditions to come. None, though, is so well suited to prosper as Teekay Shipping.