Teekay lands billion dollar deal with Chinese state bank

New credit agreement with the Chinese state and development bank CEXIM provides Teekay with upwards of USD 1 billion for newbuildings at Chinese shipyards, including tanker and LNG vessels.

BY OLE ANDERSEN

Published: 01.10.15 at 10:26

Teekay Corporation has signed a credit facility agreement for up to USD 1 billion with Chinese state-owned bank CEXIM, the Export-Import Bank of China, for newbuildings to be built at yards in China for the group's companies, mainly including Teekay LNG Partners, Teekay Offshore Partners and Teekay Tankers, all three of which are listed in New York, informs Teekay in a corporate statement.

The loan and framework agreement is subject to certain formal approvals.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

Access all locked articles
Receive our daily newsletters
Access our app

Start a free company trial today

"The challenges we face as an industry require more skills and competencies"

Photo: Lucy Nicholson/Reuters/Ritzau Scanpix

They are a generation of future maritime leaders shaped both by Covid-19 and shutdowns and now by a world filled with tension. Four potential future managers enrolled in the Blue MBA program give their take on why it is important to improve your skills.

Leading shippers prepared to pay 10% extra for sustainable transportation

Shippers are willing to pay more for ”green” transportation if it’s reliable. But they have to state their wishes more clearly, and prices have to be lowered, writes McKinsey in a new report, which provides suggestions for how to accelerate decarbonization.