High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
In October 2011, Teekay agreed to acquire the Maersk LNG fleet as part of a joint venture with Japan’s Marubeni Corporation. To finance this $1.4 billion dollar deal, Teekay raised equity via the sale of shares and obtaining debt financing via their banks. As of yesterday, the acquisition is now complete.
The deal added six modern LNG carriers to Teekay’s fleet, however to further explain the significance of this event and what it means for their growing LNG business, please see the following video featuring Teekay’s Brody Speers, Manager, Strategic Development and Bikramjit Kanjilal, Director, Quality Assurance.
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