Teekay LNG secures two new charters

  • Infrastructure

Teekay LNG Partners has secured new fixed-rate charters for two of its 52 percent-owned liquefied natural gas carriers.

The Bermuda-based LNG shipper said in a statement that the deals include a 12-month charter on the LNG carrier Arwa Spirit and an eight-month charter on the Methane Spirit.

Both of these charters are expected to start upon completion and in direct continuation of their existing contracts in May and July 2020, respectively.

In addition, Teekay LNG has refinanced its existing $225 million unsecured revolving credit facility, which was scheduled to mature in November 2020.

The facility was refinanced with a new two-year facility of the same amount and pricing consistent with the previous facility of LIBOR + 140 bps, Teekay LNG said.

Teekay LNG’s fleet is now 98 percent fixed though 2020 and 94 percent fixed for 2021.

The company has interests in 47 LNG carriers, 23 mid-size LPG carriers, and seven multi-gas carriers.

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