Logitel Delays Delivery of Teekay’s Big Round Accommodation Rigs

Arendal Spirit. Photo: Teekay
Arendal Spirit. Photo: Teekay

 

Singapore-based Logitel Offshore Holdings has delayed the delivery of its second and third floating accommodation unit after striking an agreement COSCO.

Logitel was co-created by Norway’s Sevan Marine in 2013 in order to develop opportunities for Sevan’s unique cylindrical hull design within the FPSO/FSO business segment. The company is now owned by Teekay Corp.

Sevan, which first warned of the delays in it Q1 2015 report released in May, says that Logitel has decided to delay unit two for up to 12 months and unit 3 for up to 120. Delivery of the second unit is now anticipated for October 2016.

The second and third units are under construction at the COSCO (Nantong) Shipyard in China. Logitel originally had options for up to eight units, although Sevan did not exercise its option for a fourth unit that was due do to expire in May because of current market opportunities in floating accommodation.

In May 2014, Teekay announced its intent to acquire 100% of Logitel upon delivery of the first accommodation unit, the Arendal Spirit.

Arendal Spirit, which is described as a “Unit for Maintenance and Safety”, was delivered to the Logitel in February 2015 and has since arrive in Brazil for its charter with Petrobras. The vessel contains contains 500 beds in 248 cabins with en-suite bathrooms, daylight windows, television, internet and telephone connections, lounge areas, coffee shop, television and game room, fitness room, dining room, office areas, meeting/conference room and cinema.