Teekay ƶijϻ Partners have exercised the first of six options to build another floating accommodation unit (FAU) based on the cylindrical Sevan design at the Cosco Shipyard, Nantong, China.
The new FAU is scheduled for delivery in Q3 2016, and expands Teekay's current building program to three units.
CEO Carl Lieungh says "Sevan's cylindrical hull design is perceived to have several competitive advantages relative to competitors such as; lower cost, higher deck load capacity, better stability and more storage space. Teekay's exercise of the first FAU option will also have a positive effect on our earnings."
