Friday 16th Nov, 2018

Teekay Tankers announces Aframax sale-leaseback arrangement


TEEKAY Tankers has announced it has completed and closed the sale-leaseback transaction for six Aframax tankers, the Whistler Spirit, Blackcomb Spirit, Emerald Spirit, Garibaldi Spirit, Tarbet Spirit and Peak Spirit.


In a statement, Teekay said it had increased its liquidity position by about US$60m after the repayment of debt related to these vessels.

As part of this financing, the company is to bareboat charter-in these vessels for nine to ten years.

“We are pleased to have successfully executed on this significant financing initiative with the completion of this sale-leaseback transaction,” Mr Mackay said.

“We increased our net liquidity position by an additional $60 million, extended our debt maturity profile and continue to work on other liquidity initiatives.”

Teekay Tankers currently owns a fleet of 46 double-hull tankers, including 26 Suezmax tankers, 11 Aframax tankers, and nine long range product tankers and has six Aframax tankers and four Suezmax tankers related to capital leases and two contracted time charter-in vessels.

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