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Exmar completes the LPG joint venture with Teekay LNG Partners L.P.


Published Feb 19, 2013
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EXMAR NV

EXMAR NV, together with TEEKAY LNG PARTNERS L.P. have successfully closed their 50/50 LPG joint-venture.

The EXMAR LPG BVBA joint-venture controls 15 owned Midsize Gas Carriers (MGC), out of which 4 are currently under construction at Hyundai Mipo, and one owned Very Large Gas Carrier (VLGC). EXMAR LPG BVBA also time-charters in three MGCs and two VLGCs (33.33% share) and bareboat-charters in one MGC and one VLGC.

The joint venture has successfully secured financing for its fleet (including the 4 newbuildings at Hyundai Mipo) under a USD 355 million facility, co-arranged by NORDEA and DNB. The syndicated loan facility has been substantially oversubscribed and is expected to close before the end of the first quarter 2013.

Tags: EXMAR NV, Teekay Corporation




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