SEAPEAK MARIB

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AP Møller-Mærsk sells complete LNG fleet to Marubeni LNG and Teekay

The Danish shipping group AP Moller-Maersk has signed an agreement with Teekay LNG Partners, a Canadian group of Teekay Corporation, based in Bermuda, and Japan's Marubeni Corporation to cede the business of maritime transportation of liquefied natural gas operated Maersk LNG from the branch which has a fleet of six ships LNG entire property of its subsidiaries and two ships of the same type of which it owns 26% of the property, InforMare reports. The transaction, expected to be completed by the end of this year, will include the entire fleet of Maersk LNG and will have a value of 1,402 million dollars. The sale will take place in respect of the joint venture owned 52% by the Teekay LNG and the remaining 48% owned by Marubeni. The ships of the entire LNG is owned by Maersk Maersk Methane units, Maersk Arwa, and Maersk Marib, built in 2008, Maersk Magellan units and Woodside Donaldson, built in 2009, and the Maersk Meridian, built in 2010. The LNG ships which Maersk owns 26% of properties are Maersk Ras Laffan, built in 2004, and the Maersk Qatar, built in 2006. Currently five of the eight ships are operated under contract to rent a fixed average remaining term of approximately 17 years (with options to extend the duration), while three ships are operated under leases for less (including with an option to extend the period in the long term)