Teekay Offshore Orders Shuttle Tanker Newbuildings

Image credit: Teekay Offshore

Teekay Offshore (NYSE:TOO) has placed an order for up to four DP2 shuttle tanker newbuildings which the company says will be the most environmentally friendly vessels of their kind on the water.

Teekay Offshore’s CEO Ingvild Sæther announced the contract signing last week for the two Suezmax-size, DP2 shuttle tanker newbuildings, with options to order up to two additional vessels.

The vessels will be delivered in 2019 and 2020 and will provide shuttle tanker services in the North Sea in support of its long-term relationship with Statoil.

The newbuildings will be constructed based on Teekay Offshore’s new Shuttle Spirit design, incorporating technologies to increase fuel efficiency and reduce emissions, including LNG propulsion technology. “Once on the water, they will be the most environmentally friendly shuttle tankers ever built,” the company said.