ATHENS: Teekay LNG Partners has ordered two firm 174,000-cbm LNG carriers plus one option from Hyundai Samho Heavy Industries after signing a long-term timecharter deal with BP Shipping.
The vessels will be built to a fuel-efficient design and are expected to be delivered in the first quarter of 2019. BP Shipping has agreed to take one of the newbuildings out on a 13-year timecharter. The financial terms of the deal were not disclosed.The contract includes the option for BP to timecharter another newbuilding under similar terms, which must be exercised by the end of the third quarter this year.
The firm vessel will be employed in transporting LNG export cargoes from BP’s Freeport LNG project located on Quintana Island near Freeport, Texas. The facility has three LNG trains with combined capacity of 13.2m tpa; start-up is expected in 2018. The optional vessel would also be employed in this trade, Teekay said today.
