June 18, 2015
Second CarVal owned Vessel to be Managed by Teekay Australia
We are happy to announce that capesize bulk carrier, MV Maka Franz, is now officially under the management of Teekay Australia. The vessel was taken over at 1500LT on June 18th, 2015, in Qingdao, China. This follows a development this spring which saw Teekay Australia appointed technical manager of the capesize dry cargo fleet owned by the CarVal Investment Funds, of which Teekay is a partner and investor. In Q2-2014, Teekay Corporation also signed a letter of intent with CarVal Investors to participate in the development of a dry bulk shipping company, read the full release.
MV Maka Franz is the second CarVal owned vessel to be managed by Teekay Australia. In addition to the RS Iron Range, 10 other CarVal owned capesize bulk carriers are set to be progressively transferred under the management of Teekay Australia.
The acquisition of MV Maka Franz is a great example of the global Teekay team working in tandem to secure positive outcomes for Teekay and its partners. It also an endorsement of the team in Australia who has provided excellent ship management of dry cargo vessels owned by BHP Billiton Ltd. and other third party customers since 2002.
 Maka Franz discharging in China |
 Bulker hatches on the Maka Franz |
 Maka Franz Departing Qingdao, China |
 Communication mast |