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Teekay keeps foot on expansion pedal.
(From Lloyds List)
CANADIAN tanker giant Teekay's expansion in Norway over the past two years has created one of the largest medium-sized tanker operations in the world.
Teekay now holds almost half of its assets in the country, reorganised under the new operation Teekay Norway.
As well as operating around 40 North Sea shuttle tankers through Stavanger company Teekay Navion, the product transport wing of Teekay Tanker Services is looking to expand its conventional shipping operations.
'Expanding the suezmax fleet and greater involvement in carrying oil products are among our ambitions,' says Teekay Tanker Services vice-president Peder Farmen, based in Norway.
'All the same, we are working to expand our strong aframax position.'
Teekay's conventional shipping business in Stavanger derives from Statoil's former shipping wing Navion and now employs 30 staff in west Norway developing business and chartering, together with a team in London.
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