Teekay LNG’s fleet growth helped the shipowner lift cash flow in the first quarter although profits slipped. The spin-off of Canadian tanker giant Teekay said it generated distributable cash flow of US$50.8 million against US$39.1 million last time.
The New York-listed subsidiary said the jump was in part a result of last year’s purchase of six ships from Maersk LNG in a joint venture with Japan’s Marubeni.
