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    Teekay acquires a chunk of Ugland Nordic

    News // March 9, 2001
    Teekay Shipping has acquired 56 per cent of Ugland Nordic Shipping and says it intends to acquire all of the remaining shares in the company in due course.

    The two companies say they plan to focus on the market for shuttle tankers and floating storage units.

    Ugland has just acquired four shuttle tankers from Awilco (see elsewhere in this issue).

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