Teekay Lng Partners L p   (TGP)
Other Ticker:  
Price: $16.9800 $-0.01 -0.059%
Day's High: $17 Week Perf: 0.06 %
Day's Low: $ 16.98 30 Day Perf: 0.41 %
Volume (M): 798 52 Wk High: $ 17.20
Volume (M$): $ 13,550 52 Wk Avg: $16.97
Open: $16.99 52 Wk Low: $16.84

 Market Capitalization (Millions $) -
 Shares Outstanding (Millions) -
 Employees 5,561
 Revenues (TTM) (Millions $) 591
 Net Income (TTM) (Millions $) 97
 Cash Flow (TTM) (Millions $) 5
 Capital Exp. (TTM) (Millions $) 10

Teekay Lng Partners L P

Teekay LNG Partners L.P. is an international provider of marine transportation services for LNG, LPG and crude oil. We were formed in 2004 by Teekay Corporation (NYSE: TK), a portfolio manager of marine services to the global oil and natural gas industries, to expand its operations in the LNG shipping sector. Our primary growth strategy focuses on expanding our fleet of LNG and LPG carriers under long-term, fixed-rate charters. In executing our growth strategy, we may engage in vessel or business acquisitions or enter into joint ventures and partnerships with companies that may provide increased access to emerging opportunities from global expansion of the LNG and LPG sectors. We seek to leverage the expertise, relationships and reputation of Teekay Corporation and its affiliates to pursue these opportunities in the LNG and LPG sectors and may consider other opportunities to which our competitive strengths are well suited. Although we may acquire additional crude oil tankers from time to time, we view our conventional tanker fleet primarily as a source of stable cash flow as we seek to continue to expand our LNG and LPG operations.

We generate revenues by charging customers for the transportation of their LNG, LPG and crude oil using our vessels. The majority of these services are provided through either a time-charter or bareboat charter contract, where vessels are chartered to customers for a fixed period of time at rates that are generally fixed but may contain a variable component based on inflation, interest rates or current market rates.

Our vessels primarily operate under long-term, fixed-rate charters with major energy and utility companies and Teekay Corporation. The average remaining term for these charters is approximately 12 years for our LNG carriers, approximately five years for our LPG carriers and approximately three years for our conventional tankers (Suezmax and Handymax), subject, in certain circumstances, to termination or vessel purchase rights.

“Hire” rate refers to the basic payment from the customer for the use of a vessel. Hire is payable monthly, in advance, in U.S. Dollars or Euros, as specified in the charter. The hire rate generally includes two components – a capital cost component and an operating expense component. The capital component typically approximates the amount we are required to pay under vessel financing obligations and, for two of our conventional tankers, adjusts for changes in the floating interest rates relating to the underlying vessel financing. The operating component, which adjusts annually for inflation, is intended to compensate us for vessel operating expenses.

In addition, we may receive additional revenues beyond the fixed hire rate when current market rates exceed specified amounts under our time-charter contracts for two of our Suezmax tankers.

Hire payments may be reduced or, under some charters, we must pay liquidated damages, if the vessel does not perform to certain of its specifications, such as if the average vessel speed falls below a guaranteed speed or the amount of fuel consumed to power the vessel under normal circumstances exceeds a guaranteed amount. Historically, we have had few instances of hire rate reductions, and only one in our joint venture with Exmar, that had a material impact on our operating results in prior years.
When a vessel is “off-hire” – or not available for service – the customer generally is not required to pay the hire rate and we are responsible for all costs. Prolonged off-hire may lead to vessel substitution or termination of the time-charter. A vessel will be deemed to be off-hire if it is in dry dock. We must periodically dry dock each of our vessels for inspection, repairs and maintenance and any modifications to comply with industry certification or governmental requirements. In addition, a vessel generally will be deemed off-hire if there is a loss of time due to, among other things: operational deficiencies; equipment breakdowns; delays due to accidents, crewing strikes, certain vessel detentions or similar problems; or our failure to maintain the vessel in compliance with its specifications and contractual standards or to provide the required crew.

   Company Address: 4th Floor Hamilton 0
   Company Phone Number: 298-2530   Stock Exchange / Ticker: NYSE TGP
   TGP is expected to report next financial results on April 03, 2023.

Customers recorded net loss Customers recorded net loss

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


Stock Performances by Major Competitors

Year to Date Decrease / Increase
FRO        36.46% 
GLNG        97.34% 
GOGL   -13.06%    
TK        3.34% 
TNK        138.05% 
TNP        93.13% 
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Teekay Lng Partners L P 's Segments
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