Teekay LNG’s fleet growth has helped the shipowner lift cashflow in the first quarter although bottom-line profits have slipped.
The spin-off of Canadian tanker giant Teekay said itgenerated distributable cash flow of US$50.8 million compared to US$39.1million a year earlier.
The New York-listed subsidiary said the jump was in part aresult of a deal last year to buy, in a joint venture with Japan’s Marubeni,six ships from Maersk LNG.
