Teekay Sells Last VLCC for USD 62 Mn

Image Courtesy: Teekay

Amid an increase in the sale and purchase activities related to the tanker segment, Teekay Corporation has agreed to sell its last Very Large Crude Carrier (VLCC) for a price of USD 62 million, according to data provided by VesselsValue.

Namely, the 2011-built Shoshone Spirit was sold to Greek Pantheon Tankers Management, a company which operates a fleet of fourteen vessels ranging from LR2 tankers, VLCCs, Suezmaxes, to Aframaxes.

Featuring a length of 333 meters and a width of 60 meters, the 314,000 dwt crude carrier was built by South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME).

Following the sale of the crude carrier, Teekay Corporation will operate a total of 17 Aframax and Suezmax tankers, which together have a capacity of over 2 million dwt.

Teekay Corporation reported a widened loss for the first quarter of this year. The company recorded a USD 48.8 million GAAP net loss against USD 9.76 million reported in the corresponding period last year.

The company’s consolidated cash flow from vessel operations (CFVO) increased to USD 359 million from USD 320.9 million in the prior year, primarily due to higher cash flows from Teekay Offshore.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2017 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Global Liner Shipping Asia Conference

Fight. Survive. Thrive. Respond to challenges of consolidation & disruption at the largest gathering of container shipping industry in Asia…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference. With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and […]

read more >

Indonesia Marine & Offshore Expo (IMOX) 2017

Indonesia Marine & Offshore Expo (IMOX) 2017, Batamis an international maritime and offshore industrial event that brings an international…

read more >

Salvage & Wreck Asia

Could your business be affected by shipwreck? Are you a salvage professional or a wreck removal expert? …

read more >