Lauritzen Kosan, the gas carrier division of J. Lauritzen, and Teekay LNG Partners L.P. (Teekay LNG) have agreed that Teekay LNG’s fleet of ethylene gas carriers will join the Lauritzen Kosan pool.
The agreement implies that seven modern ethylene gas carriers, owned by Teekay LNG, will join Lauritzen Kosan’s pool of ethylene carriers with effect from 1 March 2019.
Together with Lauritzen Kosan’s 11 ethylene carriers, three ethylene carriers supplied by other owners, and Teekay LNG’s ethylene fleet, the Lauritzen Kosan pool will become one of the leading suppliers of ethylene carrying capacity in the smaller gas carrier size segment with a total of 21 units.
“We are proud to have Teekay LNG, a world leader in energy transportation, joining us in our strategy to service existing and new customers. This is an indication of our strong market position in the gas carrier industry”, says CEO Thomas Wøidemann, Lauritzen Kosan.
“With Lauritzen Kosan’s close and long-lasting customer relationships, we are confident that we have found the right commercial and operational platform for our fleet of ethylene gas carriers”, says President and CEO Mark Kremin, Teekay Gas Group Ltd.