Teekay Tankers reveals LR2 play

Energy News Beat

AmericasTankers

Teekay Tankers is renewing its LR2 tonnage through deals that will see one of the ageing vessels replaced by a 12 years younger unit.

The New York-listed firm has agreed to offload the 2007-built Galway Spirit to an unnamed buyer for delivery in the first quarter of 2025.

No price was revealed for the Hyundai Heavy-built unit, but the company has also confirmed the previously reported sale of the 2009-built suezmax Tianlong Spirit, with both ships bringing in a total of $59m.

The suezmax sale relates to the four-ship package at $35m each with George Procopiou’s Dynacom Tankers, flagged by S&P sources earlier this year, with the company so far confirming three deals without naming the buyer.

Meanwhile, a filing to the US Securities and Exchange Commission divulged an acquisition of an unnamed 2019-built aframax/LR2 for $63m.

Some brokers have identified the vessel as the Daehan-built 115,643 dwt Prostar, which had previously sailed for Teekey as part of its chartered-in fleet.

Teekay, which last month completed the sale of another ageing LR2, said it expects delivery of its latest purchase during the second quarter of this year.

The Kenneth Hvid-led company currently owns 23 suezmaxes, including those agreed for sale, and 15 aframax/LR2 tankers. The company also has five chartered-in ships, four of which aframax/LR2, and a 50% stake in the VLCC Hong Kong Spirit joint venture.

“Approximately 60% of our fleet is currently aged 15 years and older, and we may continue the process of fleet renewal in the coming years,” the company said.

The post Teekay Tankers reveals LR2 play appeared first on Energy News Beat.

 

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