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Teekay News

16 Jan 2024

Qatari LNG Tankers Resume Course Via Red Sea

© moofushi / Adobe Stock

Four tankers used for shipments of Qatari liquefied natural gas (LNG) have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea, LSEG shiptracking data showed on Tuesday.The Houthi attacks, in what they call a bid to support Palestinians in the war with Israel, have disrupted trade on the main East-West route that makes up about 12% of global shipping traffic.On Monday, the Houthi movement vowed to widen its targets in the Red Sea region to U.S. ships, following U.S.

15 Jan 2024

QatarEnergy Stops Red Sea LNG Shipping Due to Attacks

© vladsv / Adobe Stock

QatarEnergy, the world's second largest exporter of liquefied natural gas, has stopped sending tankers via the Red Sea although production continues, a senior source with direct knowledge of the matter told Reuters on Monday.Yemen's Iran-backed Houthi group has since November been attacking vessels in the Red Sea, part of a route that accounts for about 12% of the world's shipping traffic, in what they say is an effort to support Palestinians in the war with Israel.At least four tankers used to carry Qatari LNG were held up over the weekend after U.S.

26 Oct 2023

World's Ghost Fleet in Focus Over US Russian Price Cap Crackdown

Credit: komi$ar/AdobeStock

U.S. penalties on shippers transporting Russian oil in breach of the G7's price cap could push more Russian cargoes onto vessels referred to as the ghost fleet and away from mainstream tankers, shipping sources and analysts told Reuters.The cap bans Western companies from providing maritime services for Russian seaborne oil exports sold above $60 a barrel.It was designed to keep oil flowing to markets while reducing Russia's energy earnings that it can use to finance its war on Ukraine…

02 Oct 2023

Shipshave Scoops Award for In-Transit Hull Cleaning Solution

Cleaning of the hull during a voyage using a robotic tool deployed from the deck by the crew. Photo: Shipshave

Shipshave has won the Most Innovative Proven Technology Award in the inaugural SNIC Innovation Awards for its in-transit hull cleaning solution that removes biofouling to boost fuel efficiency and decarbonization.The prize was handed out at the Singapore Norway Innovation Conference (SNIC) 2023, with the theme Innovate to Zero, that is hosted annually in Singapore by the Norwegian Business Association Singapore (NBAS).Shipshave earned the accolade for having “the most innovative…

21 Jun 2023

Teekay Takes FuelOpt Tech on 25 Vessels

Image courtesy Yara

Teekay Tankers signed agreements to equip 25 additional tankers with Yara Marine Technologies’ FuelOpt propulsion optimization technology. The order follows the installation and evaluation of FuelOpt onboard Zenith Spirit in 2021, followed by a further three vessels in 2022.Teekay placed the new orders in Q1 and Q2 2023 after having confirmed that the use of FuelOpt onboard four of its vessels, operating with steady shaft power, resulted in fuel savings and emissions reductions of 3-5% through 2022. FuelOpt is compatible with all existing and future fuels and is designed to be user-friendly.

31 Jan 2023

Titan Acquires Pair of LNG Carriers for Bunkering Capability Retrofit

The 12,000 cbm Seapeak Vision, due to join Titan's fleet in March 2023. Image: Titan

Titan, the independent supplier of low and zero-emission fuels, acquired two small scale LNG carriers – the Seapeak Unikum and Seapeak Vision – from Seapeak, the Canadian gas transportation company formerly known as Teekay LNG Partners. The vessels will be retrofitted to ensure suitable LNG bunkering capabilities, enabling them to both transport and bunker LNG, liquefied biomethane (LBM), and in the longer-term hydrogen derived e-methane (e-LNG).Both sister vessels have a cargo capacity of 12,000 ccbm and measure 152 x 19.8m. The vessels will join Titan’s fleet in March this year.

30 Dec 2022

Seapeak Completes Evergas Acquisition

Canadian headquartered shipowner Seapeak on Thursday announced it has completed its previously announced acquisition of Danish shipping company Evergas from France-based Jaccar Holdings.Evergas, previously comprising Greenship Gas Trust and Greenship Gas Manager, is one of the world’s leading seaborne transporters of petrochemical gases and natural gas liquids (NGL).The cash deal, worth approximately $700 million, was announced in October and will see Evergas rebrand and operate as a wholly-owned subsidiary of Seapeak. Through the acquisition, Seapeak will add two very large ethane carriers (VLEC) and eight multigas/liquefied natural gas (LNG) carriers to its fleet.Seapeak…

02 Nov 2022

Teekay Names Speers EVP & CFO

© Haris Andronos / Adobe Stock

Teekay Corporation announced Vince Lok’s retirement as Teekay’s Executive Vice President and Chief Financial Officer effective January 1, 2023, after nearly 30 years with the company, including the past 16 years as Teekay’s Group CFO.Upon Lok’s retirement, Brody Speers, Vice President, Finance & Treasurer, will be assuming Lok’s responsibilities, along with continuing to oversee Teekay’s Finance, Accounting and Tax teams. Lok has agreed to stay on as an advisor through the end of 2023 to help ensure a smooth transition as well as support the company’s strategic initiatives.Kenneth Hvid…

08 Sep 2022

Stolt Tankers to Install Yara Marine's FuelOpt on Seven More Ships

(Photo: Yara Marine)

Stolt Tankers and Yara Marine Technologies have signed an agreement to equip a further seven tankers with Yara Marine's FuelOpt propulsion optimization technology. The agreement was signed at SMM in Hamburg, Germany on Wednesday, 7 September 2022. This new order follows the installation and evaluation of FuelOpt on board the Stolt Breland in early 2022.Operating the largest fleet of chemical tankers in the world, Stolt Tankers is looking to prioritize voyage efficiency solutions that support emissions reductions.

04 Jul 2022

Sevan Hummingbird FPSO Set to Leave Chestnut Field in North Sea

Teekay's Sevan Hummingbird FPSO is set to leave Spirit Energy's Chestnut oil field in the North Sea after 13 years of oil production at the site.According to notice to mariners issued by Teekay on Thursday, the FPSO is currently being disconnected from its moorings.The 2007-built vessel, which was also known as Hummingbird Spirit, or just Hummingbird, has the capacity to produce around 25,000 barrels of oil per day, and a storage capacity of 270,000. It is operated by Altera on behalf of Teekay. The cylindrical FPSO, with hull diameter of 60 meters, has been producing oil from the Chestnut field since 2008. Spirit Energy, the operator of the offshore oil field, in August 2021 said it would file a decommissioning program for the Chestnut field.

01 Apr 2022

Samsung Delivers Shuttle Tanker to Altera

(Photo: Altera Infrastructure)

Altera Infrastructure, formerly known as Teekay Offshore, said it has taken delivery of a new shuttle tanker from Samsung Heavy Industries in South Korea.The 148,200 DWT newbuild, Altera Thule, was handed over to Altera on Thursday. The ship's crew is currently on board and preparing for sail away after familiarization, testing and drills, the company said.The Bahamas-registered suezmax will operate on long-term contracts with a group of companies that includes Chevron, Exxon, Husky, Equinor, Suncor and more, to provide shuttle tanker services off Canada's East Coast.

20 Jan 2022

Teekay LNG Rebrands as Seapeak

(Photo: Seapeak)

Shipping company Teekay LNG has rebranded as Seapeak following the completion of its acquisition by U.S.-based investment firm Stonepeak.One of the world’s largest independent owners and operators of liquefied natural gas (LNG) carriers, Teekay LNG announced in October that it entered into a merger agreement that would see Stonepeak acquire all issued and outstanding common units representing limited partner units in Teekay LNG, and its common un it holders voted to approve the deal in December.

14 Jan 2022

BP Files Petrojarl Foinaven FPSO Removal Plan

British oil major BP has filed a decommissioning plan for the removal of the Petrojarl Foinaven FPSO and the recovery of associated mooring systems, the risers and dynamic umbilicals from the Foinaven Field, located 160 kilometers (100 miles) west of Shetland in water depths of up to 600 meters.The FPSO and related equipment will be transferred onshore for re-use, recycling or disposal as appropriate. BP last year said that the Petrojarl Foinaven FPSO had to be taken off-station as it had reached end of its 25-year service life, operating in a harsh environment, and now the company has filed the removal plans with the UK authorities.The FPSO is owned by Petrojarl 4 DA (part of the Teekay Corporation group) and is currently chartered by BP under a bareboat charter party.

04 Oct 2021

Stonepeak to Buy Teekay LNG in $6.2 Billion Deal

(File photo: Teekay LNG)

Investment firm Stonepeak said on Monday it would buy Teekay LNG Partners in a deal worth $6.2 billion, as it looks to take advantage of rising global demand for LNG amid a push towards cleaner sources of energy.Prices of the benchmark U.S. natural gas contract have been on the rise, hitting seven-year highs recently. On Monday, the front-month gas futures contract was up 6.3% at $5.97 per million British thermal units (mmBtu).Stonepeak is offering $17 per unit, which represents a premium of 8.3% to the closing price of Teekay LNG's common units on Oct.

10 Sep 2021

Sembcorp Marine Wins Dorado FPSO FEED Deal with Altera

Credit: Santos

Singapore-based Sembcorp Marine has secured an exclusive contract from floating production firm Altera Infrastructure, to carry out the Front-End Engineering Design (FEED) work for an FPSO to be built for Santos' Dorado oil and project offshore Australia.Dorado. located in the Bedout Sub-basin, offshore Western Australia,  is an oil and gas project which is expected to have an initial oil production of 75,000 to 100,000 barrels per day, with subsequent development of significant…

07 Sep 2021

Teekay Scores Australian Government Contract

Teekay Corporation announced it has entered into a contract with the Australian Government Department of Defense to provide marine services for five Australian Government vessels for a firm period of six years, with options to extend for up to an additional 10 years. Under the contract, which is expected to commence in November 2021, Teekay will provide ship management services, including crewing and training, operating, engineering, maintenance and supply support.“This is another example of how we can generate value from the Teekay franchise and allows us to expand our asset-lite services segment,” commented Kenneth Hvid, Teekay’s president and CEO.

20 Jul 2021

Brazil: Enauta Brings Another Atlanta Field Well Back Online after Pump Failure

Teekay Petrojarl I / Credit; Teekay

Brazilian oil company Enauta has brought online another oil well at its Atlanta field in the Santos Basin, offshore Brazil, following a recent pumping system failure, and is now producing from two wells connected to the Petrojarl I FPSO.As previously reported, the company - formerly Queiroz Galvao - had earlier this month said that the field was producing via one well only due to a failure in the pumping system which had caused two wells to stop producing.The Atlanta field early production system has three wells…

12 May 2021

Gallery: Petrojarl Banff FPSO Arrives in Denmark for Recycling

Credit: Teekay

Teekay's Petrojarl Banff FPSO completed its final voyage on May 8, 2021, and is now moored alongside the Modern American Recycling Services Europe A/S (MARS) quayside in Frederikshavn, Denmark in preparation for recycling.The decommissioned FPSO, which ceased production in the U.K. North Sea in 2020, had been moored at Kishorn Port on the northwest coast of Scotland since September 2020. The tow of the FPSO from the Kishortn Port to Frederikshavn started on May 2, ending on May 8.The Banff FPSO had been producing oil for CNRI at the Banff and Kyle fields…

29 Apr 2021

Teekay to Expand Use of ABB's Engine Diagnostics Software

Teekay will now be able to access deeper insights into fleetwide engine health and performance with ABB Ability Tekomar XPERT for fleet (Image: ABB)

Shipping company Teekay is expanding its use of ABB Turbocharging’s engine diagnostics software to deliver deeper insights at fleet level.Teekay will roll out Tekomar XPERT for fleet, including the software’s new CO2 emissions indicator, across 54 Suezmax and Aframax tankers. The company, which has used Tekomar XPERT to monitor its vessels engines since 2015, will now be able to access deeper insights into fleetwide engine health and performance as well as at-a-glance CO2 emissions data.While Tekomar XPERT monitors the engines on an individual vessel to deliver diagnostics and advisory…

10 Mar 2021

Whitworth Joins Gulf Copper Board

Jonathan Whitworth (Photo: Gulf Copper and Manufacturing Corporation)

Gulf Copper and Manufacturing Corporation has appointed Jonathan Whitworth as a member to its board of directors.Whitworth, a graduate of Texas A&M University at Galveston (TAMUG), brings his extensive working history and experience back to Texas. He holds an MBA in Finance with a focus on marine business and currently serves as vice chairman of the TAMUG Board of Visitors.“I feel very fortunate to have retired and moved back to Galveston Island, a city which has a rich maritime history and a place with great memories for both me and my wife,” said Whitworth.

09 Mar 2021

Altera Takes Sixth E-shuttle Tanker from Samsung

Altera Wind (Photo: Altera Infrastructure)

Altera Infrastructure recently took delivery of its newest E-shuttle tanker Altera Wind from South Korean shipbuilder Samsung Heavy Industries.The 103,000 deadweight tonne newbuild is the sixth and final in the series of DP2 shuttle tankers using liquefied natural gas (LNG) fuel and recovered volatile organic compounds (VOCs) as a secondary fuel, as well as battery packs for flexible power distribution and blackout prevention.The Norwegian-flagged vessel is built to DNV's Battery Power notation and has a 1…

18 Jan 2021

Petrojarl Banff FPSO to Be Recycled in Denmark

(Photo: Teekay)

M.A.R.S. Europe said it has been awarded a contract by Teekay Petrojarl Floating Production UK Ltd. for dismantling and recycling of the Petrojarl Banff floating production, storage and offloading unit (FPSO). The deal includes engineering, preparation, dismantling and green recycling of the long-serving floater.Teekay's Petrojarl Banff FPSO is expected to arrive at M.A.R.S. Europe’s EU-approved facility in the Port of Frederikshavn, Denmark prior to the end of Q1 2021.The decommissioned FPSO, which ceased production in the U.K.

30 Oct 2020

Baksaas Appointed DNV GL’s Chair of the Board

(Photo: DNV GL)

Former Telenor CEO Jon Fredrik Baksaas has been appointed as DNV GL’s new chair of the board, the Norwegian-headquartered classification society announced.Best known for his 13-year tenure as president and CEO of the telecoms firm, Baksaas started his career with DNV (as it was then known) and spent six years at the company before leaving in 1985. He has also served as member of the DNV Council for 12 years.“DNV GL is a company that is well positioned to take a role as a trusted voice to tackle the global transformations the world is facing.