December 2017 was a very disappointing month for the tanker market. Namely, especially for mid-size tankers it was the worst December for spot rates since the early 1990s and for VLCCs it was the worst December since the 1980s. However, in the end of 2018 and start of 2019, the situation is expected to recover.
Read morehttps://www.youtube.com/watch?v=l4MkIZZT3Sg LNG exports increased significantly near at the end of 2017, which caused an increase in short-term charter rates for LNG vessels, reaching the highest level in almost 4 years. This was partly because of the increasing LNG demand in China, which has started shifting millions of homes and businesses from coal to gas fired heating. Growth in 2018 is expected to continue, with global LNG exports increasing by the fastest rate since the launch of Qatar’s mega trains back in 2010.
Read moreIT company Dualog, announced that it has won a contract to install and upgrade email capability on 160 Teekay vessels worldwide. Work has already started, with over 100 vessels being equipped. Teekay wants to move towards digitalisation, for this reason it decided to get a new email platform, to enhance its cyber security.
Read moreSoon after delivery, the icebreaker 'Eduard Toll' completed both its first loading at Sabetta Terminal Russia and first discharge in Montoir, France. This marked a major milestone for shipping in the Arctic. 'Eduard Toll's' journey is the first time a shipping vessel made independent passage, without the support of an ice breaker, during this time of year.
Read moreThe Netherlands-based towage company ALP Maritime has taken official delivery of towing vessel 'ALP Keeper' in Okayama, Japan. The vessel is part of the ALP Future Class, meaning it has a fuel capacity of 3400 m3 of IFO/MGO, sufficient for non-stop Trans-Atlantic/Indian, Pacific Ocean towing operations without fuel calls.
Read moreTeekay announced that it received its first LNG Carrier Newbuild, 'Eduard Toll', which is the fourth of 15 Arc7 LNG carriers being built for the Yamal LNG project. The vessel was technically accepted in Korea at the beginning of December 2017 after successfully completing sea trials and departing for its journey to Northern Russia.
Read moreThe Future Leaders Program is a four year post-secondary education program where students are accredited with a Bachelor of Science in Marine Engineering and Marine Transportation, and receive training to acquire the necessary education and skills to become successful marine officers.
Read moreThe vessels will incorporate some of Wärtsilä’s technology concepts, in order to enhance the ships' performance. These orders with Wärtsilä, are worth over 110 million euros and were booked in December 2017 and January 2018. The vessels will be built at the Samsung Heavy Industries yard.
Read moreEarlier this month, Teekay's product tanker 'Leyte Spirit' completed safe transit through the Panama Canal, becoming the first Teekay conventional Aframax tanker to cross the canal. The ship is 243 meters in length and 42 meters in width and was built at Hudong Zhonghua shipyard in China in 2011.
Read moreWith the completion of this Arc7 financing, Teekay LNG has now completed $2.2 billion in debt financings for their newbuildings in the past 12 months and has financed 14 of its remaining 15 LNG carrier newbuildings, which includes one floating storage unit.
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