Teekay Corp. has released a video reviewing what happened in the LNG shipping market in 2Q16, and offering predictions for the year ahead. Teekay expects that charter rates will gradually increase through 2017, due to six new projects scheduled to come online that year. These will be located in Australia, the US, Russia and West Africa. Nonetheless, the company also expects that the recovery in rates will be moderate both this year and next, because a number of export projects starting next year have been delayed to later in the year. Therefore, these projects may not provide any significant export volumes until nearer to 2018.
Teekay LNG Partners L.P. and its joint venture partner Marubeni Corporation have agreed to acquire ownership interests in eight LNG carriers from Denmark-based, A.P. Moller-Maersk A/S, for approximately US$ 1.4 billion.