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Teekay LNG aims to double the bottom line in 2019

12 newbuildings have been added to Teekay LNG's portfolio since October 2017 and even more are on the way. Together with higher rates, the company believes it will double the bottom line in 2019.

Photo: Teekay

A range of newbuildings and higher rates on existing vessels have impacted 2018 figures positively for Teekay LNG partners,among the world's largest LNG vessel operators, reveals the company in the report published Thursday.

According to this, 12 new LNG vessels have become part of the company's fleet in the period between October 2017 and December 2018, either directly or via joint ventures. The higher and increasing earnings have have helped to counterbalance lower earnings from seven multi-gas vessels which terminated their contracts, while higher expenses on administration has also pulled slightly down.

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