Analyst Research

Report Title Price
Provider: Reuters Investment Profile
$20.00
Provider: Sadif Analytics Prime
$25.00
Provider: Directors Deals Ltd.
$12.00
Provider: GlobalData
$125.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Teekay LNG Partners LP And EXMAR NV Announces LPG Carrier Joint Venture


Wednesday, 5 Dec 2012 02:00am EST 

Teekay LNG Partners LP and EXMAR NV announced an agreement in principle to create a new 50/50 joint venture which will operate in the LPG Carrier segment with a primary focus on Midsize Gas Carriers. EXMAR and Teekay LNG seek to expand the joint venture by taking advantage of the current and future demand for liquefied petroleum gas (LPG) and ammonia (NH3). EXMAR will contribute 16 owned LPG carriers to the new joint venturecompany, to be named EXMAR LPG BVBA. The EXMAR LPG BVBA fleet will include 15 owned Midsize Gas Carriers (MGC), of which four are under construction at Hyundai Mipo, and one owned Very Large Gas Carrier (VLGC). EXMAR LPG BVBA will also time-charter in three MGCs and two VLGCs, and bareboat-charter in one MGC and one VLGC. Prior to this transaction, EXMAR LPG BVBA will acquire from Wah Kwongthe remaining 50% interest in two MGCs, the Brugge Venture and the Touraine, which it does not already own. Teekay LNG will then acquire a 50% ownership in EXMAR LPG BVBA.In exchange for 50% interest in EXMAR LPG BVBA, Teekay LNG will contribute approximately USD140 million of equity and assume pro rata debt and lease obligations secured by certain vessels to be owned by EXMAR LPG BVBA. The proposed transaction, which is expected to close in late-2012 or early-2013, has been approved by the Teekay LNG and EXMAR Boards of Directors. 

Company Quote

14.05
-1.65 -10.51%
7 Aug 2014