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25 May 2020 The on-line newspaper devoted to the world of transports 00:12 GMT+2

December 5, 2012

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Exmar and Teekay LNG plan joint venture 50:50 with a fleet of unit for gas of liquified oil

The new company will be equipped of 23 ships

The shipowning societies Exmar and Teekay LNG Partners have reached a preliminary agreement in order to constitute joint venture 50:50 that will operate in the segment of the ships for gas of liquified oil average-sized. The objective of the initiative is to take advantage of the opportunities offered from the current and future gas question of liquified oil and ammonia.

“The new plans for the gas export that is about to be put into effect, with the relatively modest pocketbook orders of ships LPG - it has found Peter Evensen, managing director of Teekay GP LCC, general partner of Teekay LNG - are previewed will determine a strong question for the current fleet of ships LPG”.

The understanding previews that the Exmar Belgian contributes with 16 ships LPG of property to joint venture, that Exmar LPG Bvba will be called. The fleet of the new company therefore will be constituted by 16 Midsize Gas Carriers (MGC), of which four currently under construction in the South Korean ship yard Hyundai Mipo and a Wide Very Gas Carrier (VLGC). Moreover, before the transaction with Teekay LNG, joint venture will rent to time three MGC and two VLGC and will rent to bare boat a MGC and a VLGC, let alone remaining the Wah Kwong company di Hong Kong 50% of the property of two MGC (the Brugge Venture of the ability to 35.418 cubic metres will acquire from, constructed in 1997, and the Touraine of the cpacità of 39.269 cubic metres, constructed in 1996) not in its possession. At last Teekay LNG will acquire 50% of the capital of Exmar LPG Bvba with an investment of approximately 140 million dollars.

The ships of joint venture will continue to being operated commercially and technically from the Exmar.

The agreement is approved of by the boards of directors of Exmar and of Teekay LNG and it previews that it will be completed in the end of this year or at the beginning of 2013.


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