Teekay LNG Partners does not expect to see any cancellations of charters on its LNG fleet despite the current market volatility and weakness.
Speaking on a first quarter results call, Teekay Gas Group president and chief executive Mark Kremin stressed that all the company’s LNG carriers are fixed on take or pay contracts.
He said there is no provision for the terms of the charters to change with the company getting paid for every day the ship is available for operations.
