Teekay Offshore (TOO) CEO Ingvild Sæther announced the contract signing for two Suezmax-size, DP2 shuttle tanker newbuildings, with options to order up to two additional vessels.
These newbuilding vessels will be constructed based on TOO’s new Shuttle Spirit design which incorporates proven technologies to increase fuel efficiency and reduce emissions, including LNG propulsion technology. Once on the water, they will be the most environmentally friendly shuttle tankers ever built. We will be sharing more about the new Shuttle Spirit vessels over the coming months – stay tuned.
The vessels will deliver in 2019 and 2020 and provide shuttle tanker services in the North Sea in support of our long-term relationship with Statoil.
About Teekay Offshore
Teekay Offshore Partners L.P. (NYSE:TOO) is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $6 billion, comprised of 63 offshore assets, including shuttle tankers, floating production, storage and offloading (FPSO) units, floating storage and offtake (FSO) units, units for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers. The majority of Teekay Offshore’s fleet is employed on medium-term, stable contracts.
Teekay Offshore’s common units trade on the New York Stock Exchange under the symbol “TOO”.