Seapeak LLC
SEAL-PA
New York Stock Exchange25.60
USD
-0.05
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Seapeak LLC
SEAL-PA
(New York Stock Exchange)
Recent
price
25.60
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Seapeak LLC Seapeak LLC (SEAL-PA) operates as one of the largest independent owner-operators of liquefied gas vessels worldwide, providing marine transportation services primarily focused on liquefied natural gas (LNG) and natural gas liquids (NGL). The company owns interests in approximately 49 LNG carriers operating under long-term, fixed-rate time charters to international energy companies; 44 NGL carriers, including liquefied petroleum gas (LPG), ethane, and multi-gas vessels typically deployed on voyage or time charters; and a regasification terminal in Bahrain comprising a floating storage unit, offshore receiving jetty, regasification platform, subsea pipelines, and onshore facilities. Seapeak LLC transports key commodities such as propane, butane, ethane, petrochemical gases including ethylene, propylene, and butadiene, as well as ammonia, serving utilities, energy producers, and industrial clients across global markets with chartering contracts that emphasize safety, efficiency, and regulatory compliance. Headquartered in Vancouver, Canada, with incorporation in the Republic of the Marshall Islands, the company was founded in 2004, formerly operating as Teekay LNG Partners L.P. prior to its rebranding to Seapeak LLC in February 2022 following a $6.2 billion merger with Stonepeak Infrastructure Partners. In recent developments, Seapeak LLC acquired the 2021-built, 174,000 cbm dual-fueled LNG carrier Marvel Swan from Navigare Capital Partners in October 2024 for $213 million, assuming its existing time charter extending to 2030 with extension options, funded initially from liquidity and planned for long-term financing by early 2025; this bolsters its LNG fleet, which stood at 49 carriers as of September 30, 2024, including five under construction. Earlier in 2024, the company divested older assets, selling the Seapeak Camilla multi-gas carrier in April for net proceeds of $6.7 million and the Seapeak Cathinka in March, aligning with fleet modernization efforts. These strategic moves support ongoing charter redeliveries for six LNG carriers scheduled between June 2024 and June 2025 while pursuing new opportunities amid rising global LNG demand.
Seapeak: Maintaining Preferred Stock Position Despite Russia Sanctions
Seapeak: The 8.9% Yielding Preferred Shares Remain Attractive
Seapeak's Preferred Shares Offer A 9.3% Yield
Seapeak's Preferred Shares: 9%+ Dividend Yield
Seapeak: The 9%-Plus Yielding Preferred Shares Have Never Been This Robust