Teekay Shipping recently announced a joint venture with BHP Billiton, the world’s largest coal exporter and third biggest iron exporter. Teekay Marine Pty Ltd., 70% owned by Teekay, will manage BHP’s 11-vessel fleet. In commenting on the growth potential afforded by the venture, BHP Billiton indicated that they are tapping the shipping expertise of Teekay’s global network, giving them access to increased markets.
Nassau-based Teekay Shipping is operator of the world’s largest medium-sized tanker fleet.