Seapeak
- Company typePublic
- Founded2022
- HeadquartersHamilton, Bermuda
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
Seapeak firmographics
Firmographics- Name
- Seapeak
- Legal name
- Seapeak LLC
- Website
- https://seapeak.com
- Company type
- Public
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Ownership category
- akta.pro rank
Seapeak industry classification
Industry- Product category
- Liquefied Gas Maritime Transportation
- NAICS
- Water Transportation (483)
- SIC
- Water Transportation (4400), Deep Sea Foreign Transportation Of Freight (4412)
- akta.pro primary industry
- LNG Carrier Operators (TLADABAF)
- akta.pro secondary industries
- LPG Carrier Operators (TLADABAG), LNG Shipping & Marine Transportation (LNG Carriers, Chartering) (EUALAFAC), LNG & LPG Marine Shipping (Carriers) (EUALADAF), Liquid Bulk Storage & Tank Farm Operators (Independent Storage) (TLAHABAM)
Keywords
Where Seapeak is headquartered
LocationHeadquarters
- HQ city
- Hamilton
- HQ country
- Bermuda
Offices11 records
Markets served
Seapeak business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Others
Revenue model
- Time Charter Revenue: Seapeak generates the majority of its revenue through long-term, fee-based time charter contracts with international energy majors for its LNG carriers, LPG carriers, and multi-gas carriers. These fixed-rate charters provide stable, predictable cash flows with terms typically spanning multiple years.
- Terminal Operations: Revenue from Seapeak's 30% ownership interest in the Bahrain LNG Import Terminal, which provides LNG receiving, storage, and regasification services with capacity of up to 800 mmscfd.
- Fleet Management Services: In-house ship management capabilities including technical management, crew management, and commercial management for owned vessels and third-party owners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Series A Preferred Units (NYSE: SEAL PR A) |
| Subscription | Quarterly | Series B Preferred Units (NYSE: SEAL PR B) |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Seapeak product offering
Product offeringCore offering
Seapeak is one of the world's largest independent owner-operators of liquefied gas vessels, providing maritime transportation of LNG, LPG, ethane, and multigas under long-term, fee-based time charter contracts. The company operates a fleet of over 90 vessels ranging from 140,600 to 174,000 cubic meters in capacity, holds a 30% interest in the Bahrain LNG Import Terminal, and runs an in-house training and assurance centre in Glasgow.
Product overview
Seapeak is one of the world's largest independent owner-operators of liquefied gas vessels, operating a unified maritime logistics platform. The core offering consists of LNG carrier fleet (approximately 50 vessels including 5 newbuilds) and LPG, Ethane and Multigas carrier fleet (42-51 vessels including 12-16 newbuilds) providing fee-based charter services. Supporting infrastructure includes a 30% interest in the Bahrain LNG Import Terminal (with regasification capacity of 800 mmscfd) and the Seapeak Training and Assurance Centre in Glasgow featuring Kongsberg simulators. The company also publishes annual ESG reports as part of its sustainability program.
Differentiator
Problem solved
Functional benefit
Products and services
- LNG Carrier Fleet Maritime transportation of liquefied natural gas (LNG) under long-term, fee-based time charters, with vessels ranging from 140,600 to 174,000 cubic meters capacity, including 49 LNG carriers with 7 newbuilds. Five 174,000-cubic meter MEGA propulsion newbuilds ordered in November 2022 from Samsung Heavy Industries for approximately $1.1 billion are scheduled for delivery in 2027 under ten-year charters with an international energy major.
- LPG, Ethane and Multigas Carrier Fleet Maritime transportation of liquefied petroleum gas (LPG), ethane, and multigas carriers under long-term charters, comprising 42 vessels with 12 newbuilds, including two Very Large Ethane Carriers and eight Multigas/LNG carriers acquired through the 2022 Evergas acquisition that operate under time charters to Ineos.
- Bahrain LNG Import Terminal LNG receiving, storage, and regasification terminal in which Seapeak holds a 30% interest, with capacity of 173,400 cubic meters storage and up to 800 mmscfd regasification, including floating storage unit, offshore LNG receiving jetty, regasification platform, and onshore gas receiving facility.
- Seapeak Training and Assurance Centre
Quantifiable outcome
- 100% on-budget and ahead-of-schedule delivery of 6 ARC 7 LNG carriers
- +1 more outcomes
Companies that use Seapeak
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Seapeak technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Seapeak partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered strategic, major and core.
- UN Oil and Gas Methane Partnership (OGMP 2.0)strategicSeapeak became the first shipping company to join OGMP 2.0, a voluntary initiative launched by UNEP to improve methane emissions monitoring, reporting, and verification from oil and gas operations. Seapeak will install better measuring equipment across its LNG fleet.
- Jaccar HoldingsmajorSeapeak acquired Evergas (Greenship Gas Trust and Greenship Gas Manager Pte. Ltd.) from Jaccar Holdings in an all-cash transaction with enterprise value of approximately $700 million, completed December 29, 2022. Evergas operates as a wholly-owned subsidiary.
- Bahrain LNG Terminal ConsortiumcoreConsortium consisting of Seapeak (30%), Noga Holding (30%), Gulf Investment Corporation (24%), and Samsung C&T (16%) for the Bahrain LNG Import Terminal. The terminal includes floating storage unit, offshore LNG receiving jetty, regasification platform, and onshore gas receiving facility.
- SIGTTO (Society of Gas Tankers and Terminal Operators)strategicSeapeak is represented on the Board of SIGTTO, an international body established for the exchange of technical information and experience between members of the industry to enhance safety and operational reliability of gas tankers and terminals.
- Samsung Heavy IndustriesmajorSamsung Heavy Industries constructed 5 LNG carrier newbuilds (174,000-cubic meter MEGA propulsion) for approximately $1.1 billion, scheduled for delivery in 2027. Also constructed ARC 7 vessels delivered 2018-2019.
- KongsbergstrategicKongsberg supplied state-of-the-art simulators including Full Mission Bridge Simulator with 270-degree view for Seapeak Training and Assurance Centre in Glasgow.
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
Seapeak competitors and assessment
Company assessmentDirect peers
- BW LNG: Part of the BW Group, one of the largest independent LNG carrier pools globally — directly comparable to Seapeak as a top-tier independent LNG tonnage operator.
- Awilco LNG: Smaller pure-play LNG carrier operator with TFDE vessels on time charters to energy majors — comparable as an independent LNG tonnage provider, though smaller in scale.
- BW LPG: World's largest owner and operator of VLGCs transporting LPG under long-term and spot charters — directly comparable to Seapeak's LPG carrier business.
- Flex LNG: Pure-play independent owner-operator of LNG carriers with a modern fleet of modern, fuel-efficient vessels on multi-year charters to energy majors — the closest publicly traded comparable to Seapeak's LNG carrier segment.
- Avance Gas: Independent owner-operator of VLGCs primarily transporting LPG and ethane under time charters — comparable to Seapeak's LPG/ethane/multigas fleet.
- Höegh LNG: Independent owner and operator of LNG carriers and FSRUs with long-term charters to international energy and utility customers — directly comparable to Seapeak's LNG shipping and Bahrain LNG Terminal business.
- Cool Company (formerly Golar LNG): Independent LNG shipping operator carved out of Golar with a fleet of modern LNG carriers on long-term charters — a direct peer in independent LNG shipping.
- Dorian LPG: Pure-play VLGC operator focused on LPG transportation under a mix of time and voyage charters — a direct peer to Seapeak's LPG/multigas carrier segment.
Broad incumbents
- Mitsui O.S.K. Lines (MOL): Diversified Japanese shipping major with significant LNG carrier operations alongside dry bulk, tankers and container shipping — competes broadly with Seapeak in LNG but across a much wider portfolio.
- Stolt-Nielsen: Diversified maritime operator focused on tankers and terminal/storage infrastructure with selective LNG exposure — broadly comparable to Seapeak's gas shipping and terminal activities within a wider portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Seapeak social profiles
Digital presenceSeapeak financial estimates
Financial estimateRevenue estimate
Valuation estimate
Seapeak leadership team
Management profileNumber of profiles
Profiles5 records
Seapeak subsidiaries and ownership
Company hierarchySubsidiaries2 records
Seapeak funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Seapeak M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Seapeak
What does Seapeak do?
Seapeak is one of the world's largest independent owner-operators of liquefied gas vessels, providing maritime transportation of LNG, LPG, ethane, and multigas under long-term, fee-based time charter contracts. The company operates a fleet of over 90 vessels ranging from 140,600 to 174,000 cubic meters in capacity, holds a 30% interest in the Bahrain LNG Import Terminal, and runs an in-house training and assurance centre in Glasgow.
Is Seapeak a public or private company?
Seapeak is a public company. It is classified as private equity controlled and is currently operating.
When was Seapeak founded?
Seapeak was founded in 2022. It employs 1,001 to 5,000 people.
Where is Seapeak based?
Seapeak is headquartered in Hamilton, Bermuda.
How does Seapeak make money?
Three revenue lines are on record. Time Charter Revenue is the primary driver. The others are terminal Operations and fleet Management Services.
Who are Seapeak's main competitors?
Direct peers on record are BW LNG, Awilco LNG, BW LPG, Flex LNG, Avance Gas, Höegh LNG, Cool Company (formerly Golar LNG) and Dorian LPG. Broad incumbents are Mitsui O.S.K. Lines (MOL) and Stolt-Nielsen.
Does Seapeak have an API?
No public API is recorded for Seapeak.
What industry is Seapeak in?
Seapeak's product category is Liquefied Gas Maritime Transportation. Its primary akta.pro industry code is TLADABAF, LNG Carrier Operators, with a secondary code of TLADABAG, LPG Carrier Operators. Its NAICS code is 483 and its SIC code is 4400.