Teekay Offshore has forged its fourth demolition deal for an older shuttle tanker in less than a year.
The New York-listed company's Teekay Shuttle Tankers unit, which is a major player in the sector, has offloaded the 126,000-dwt shuttle tanker Navion Hispania (built 1999) for green demolition in Turkey, various shipbroking houses said.
The ship is believed to have fetched $270 per ldt, or a total of $7.2m.
Teekay Offshore has confirmed the sale.
The sale adds to a string of similar transactions.
Last month, the 126,000-dwt shuttle tanker Stena Sirita (built 1999), which was owned by a joint venture between Teekay Shuttle Tankers and Stena Bulk, was also sold for scrap to Turkey, reportedly for $6.2m.
In May last year, the partners sold the jointly owned, 127,000-dwt shuttle tanker Stena Alexita (built 1998) for recycling to India. TradeWinds is told this tanker went for green recycling as well.
In the same month, Teekay also offloaded the 151,000-dwt shuttle tanker Nordic Spirit (built 2001) to India.
Both of those ships sold last year went for $430 per ldt.
The Oslo-listed shipowner also has two similar shuttle tankers — the 126,000-dwt Navion Anglia and Navion Oceania (both built 1999) — that could be scrap candidates soon.
Teekay Shuttle Tankers has a fleet of 26 vessels plus six newbuildings at Samsung Heavy Industries, giving it a leading market share of 35%.
