Teekay Offshore has increased its newbuilding orderbook after exercising an option for an additional DP2-rated shuttle tanker.
The vessel will be built at an undisclosed shipyard in South Korea for delivery in the first half of 2022. No financial terms were disclosed.
When the vessel is delivered it will join Teekay’s fleet of three existing Heritage class shuttle tankers that arrived off Canada between 2017 and 2018.
The three other ships are the Norse Spirit (built 2017), the Beothuk Spirit (built 2017) and the Dorset Spirit (built 2018).
The option was attached to a contract originally placed in 2015 for three shuttle tankers in a deal worth a total of $365m.
They were ordered on the back of long-term charters of 15 years plus options with a group of companies that included Chevron, Husky Energy, Mosbacher Operating, Murphy Oil, Nalcor Energy, Statoil and Suncor Energy to provide shuttle tanker services for their East Coast Canada oil production.
“The extension of our Canadian shuttle tanker fleet further strengthens our leading position in the global shuttle tanker industry,” said Idar Hillersoy, president Teekay Offshore Logistics.
“We feel both honoured and proud to continue being the trusted provider of shuttle tanker services at the Hibernia, Terra Nova, White Rose and Hebron offshore oil fields located in Newfoundland & Labrador.”