BUSINESS

Teekay Names Two New LNG Vessels

08/30/2011

On August 17, a naming ceremony was held at the Geoje Island shipyard of Samsung Heavy Industries, Ltd. in Korea for two new LNG vessels being built for three joint owners: NYK LNG Ltd.; Mitsui & Co. Ltd.; and Teekay Corporation. The vessels, Soyo and Malanje,are the first and second of four sister vessels, and the remaining two sisters are currently being built at the Geoje Island shipyard. Chartered by Angola LNG Supply Services, the vessels will ship the LNG from Angola to the global market under 20-year time charters.

Calling Soyo and Malanje a "world class achievement," David Glendinning, President of Teekay Gas Services, was on hand to deliver a key message to Angola LNG from Teekay: "You have placed your trust in us to uphold your reputation every time we deliver your cargo to your customers. This is a responsibility we shall not take lightly."

Teekay Group

NYSE: TGP

Teekay LNG Partners L.P. generates stable cash flows from long-term fixed-rate contracts with strong counterparties. LNG demand is expected to grow by 50% by 2030

...... Visit Site »
NYSE: TOO

Teekay Offshore Partners L.P. generates stable cash flows from fixed-rate contracts and is the world’s largest owner and operator of shuttle contracts

...... Visit Site »
NYSE: TNK

Teekay Tankers Ltd. has a balanced chartering strategy of fixed-rate and spot market contracts that can pay a dividend in virtually any spot tanker market

...... Visit Site »
NYSE: TK

Teekay Corporation is financially strong with a unique business platform and leading positions in promising midstream marine growth sectors

......
NYSE: TGP 36.44 -2.28 -5.89% Volume: 853,693 May 18, 2012

TOO stock

NYSE: TOO 26.74 -1.36 -4.84% Volume: 394,429 May 18, 2012

TNK Stock

NYSE: TNK 4.26 -0.24 -5.33% Volume: 1,829,916 May 18, 2012

TK Stock

NYSE: TK 27.60 -0.71 -2.51% Volume: 1,017,214 May 18, 2012