Samsung Heavy Industries inked a newbuilding contract for shuttle tanker quartet.
Teekay Offshore says the four DP2 suezmax shuttle tankers will be built by Samsung for delivery in mid and late 2013.
A Samsung spokesman confirms the deal and says the contract is a new order rather than an existing contract penned long time ago.
He refused to reveal further details like price tag or payment terms citing a confidentiality clause on the contract with the owner.
Meanwhile, Teekay Offshore signed 10-year deals with BG Group to charter out the new DP2 suezmax shuttle tankers. While financial terms were not disclosed, the company did say the contracts include extension and purchase options.
Based in Bermuda, Teekay Offshore owns 40 shuttle tankers, of which five are newbuildings.