logitel floating accommodation unit sevan

Teekay Orders Another Cylindrical Floating Hotel from Cosco Nantong

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August 11, 2014

Rendering via Logitel

Adding to the two other newbuilds currently under construction, Teekay Offshore Partners LP has exercised the first of six options to build an additional Floating Accommodation Unit (FAU) based on the Sevan design at the Cosco Shipyard, Nantong, for delivery in Q3 2016.

CEO Carl Lieungh comments “Sevan’s cylindrical hull design is perceived to have several competitive advantages relative to competitors such as; lower cost, higher deck load capacity, better stability and more storage space. Teekay’s exercise of the first FAU option will also have a positive effect on our earnings.”

Teekay Offshore Partners is a publicly traded Master Limited Partnership (MLP) foucsed on providing offshore services to the deepwater regions of the North Sea and Brazil.  The company owns interests in 34 shuttle tankers (including two chartered-in vessels), five floating production, storage and offloading (FPSO) units, six floating storage and offtake (FSO) units (including one committed FSO conversion unit), one HiLoad Dynamic Positioning (DP) unit, four long-haul towing and anchor handling vessel newbuildings, three floating accommodation unit newbuildings and four conventional oil tankers.

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