Teekay Tankers says supply has been accomplished for all 12 suezmax crude oil tankers from its acquisition of Principal Maritime’s fleet introduced in August.

The acquisition totaled $662 million and will increase Teekay Tankers’ suezmax fleet from 10 to 22 vessels, making Teekay Tankers the biggest proprietor and operator of mid-size crude oil tankers. Teekay says the addition of the 12 ships will increase the worth its fleet to $1.7 billion and reduces its common age by 1.2 years.

The remaining suezmax vessel included within the aqcuisition, Sydney Spirit, was delivered October 15, 2015, with the final of the vessels now going by dry docking. All 12 are anticipated to function within the spot tanker market within the close to future.

The Suezmax vessels becoming a member of the fleet are the next: London Spirit, Atlanta Spirit, Moscow Spirit, Athens Spirit, Los Angeles Spirit, Barcelona Spirit, Beijing Spirit, Seoul Spirit, Rio Spirit, Tokyo Spirit, Montreal Spirit and Sydney Spirit.

While the deliveries had been successful, the enlargement did get off to a little bit of a rocky begin when earlier this month one of many vessels, Tokyo Spirit (ex-Princimar Loyalty), ran aground in stormy climate simply outdoors a marina close to Lisbon, Portugal, presumably because the vessel awaited its scheduled dry docking. The ship was pulled free the next day with no hurt to the atmosphere and minimal injury to the ship. We had been informed in actual fact that native authorities had praised the proprietor for the swift response and profitable conclusion to the incident.

Weekly Insights from the Helm

Dive right into a sea of data with our meticulously curated weekly “Dispatch” e mail. It’s greater than only a publication; it’s your private maritime briefing.

Sign Up