Steel cutting milestone achieved for East Coast Canada contracts
December 1, 2015 steel cutting milestones were achieved for three shuttle tankers intended to service the East Coast Canada Contracts, Teekay said in its press release.
As announced in the summer of 2015, the 15-year contracts, plus extension options, will initially be serviced by one of Teekay Offshore’s existing shuttle tankers, the Navion Hispania, and two to three third party-owned shuttle tankers currently operating in East Coast Canada, which will be chartered-in to Teekay Offshore’s Canadian affiliate located in St. John’s, Newfoundland, prior to the delivery of up to four shuttle tanker newbuildings. Navion Hisapnia is the first Teekay vessel to service the contract as well as our first Canadian flagged vessel in 10 years.
The three vessels are expected to be delivered to be delivered in the fourth quarter of 2017 through the first half of 2018.