Teekay’s First Canadian Flagged Vessel in 10 Years
September 9, 2015
Teekay Settles in St. John’s, Newfoundland & Labrador
Shuttle tanker Navion Hispania arrived at Conception Bay, on the southeast coast of the island of Newfoundland, on August 17. Following her long journey across the Atlantic, the vessel has undergone the last step of her transition: Acquiring her Canadian flag.
Navion Hispania will be the first Teekay vessel to service the 15-year long-term shuttle contract signed between Teekay Offshore and Canada Hibernia Holding Corporation (CHHS), Chevron Canada, ExxonMobil Canada, Husky Energy, Mosbacher Operating Ltd, Murphy Oil, Nalcor Energy, Statoil, and Suncor Energy. A key component of this contract is Teekay’s commitment to renewing the fleet of vessels offering the service. As announced in June, Teekay Offshore has entered into shipbuilding contracts to construct three Suezmax-size, DP2 shuttle tanker newbuildings with a South Korean shipyard. The three vessels are expected to be delivered in the fourth quarter of 2017 through the first half of 2018.
Teekay’s arrival to Eastern Canada is of special significance as Teekay has had a long-standing presence on the West Coast in Vancouver, British Columbia, a global service provider for the company. The re-flagging of the vessel also further reinforces Teekay Offshore’s (TOO) entrance into the growing Eastern Canada offshore oil production market, a focal point for both Canadian oil and gas development.
For more information on the East Canada Shuttle Tanker Contract, view the official news release or read our blog post.