SEAL-PBNYSEWater TransportationUS GAAP · USD

Seapeak LLC

Seapeak LLC is a marine transportation company focused on shipping liquefied natural gas (LNG) and natural gas liquids (NGL) through an owned and leased fleet of vessels. It also participates in vessel management, joint venture operations, and related terminal and corporate management services linked to liquefied gas logistics.

Kysy yhtiöstä
Liikevaihto637milj. USD
−10,4 %v/v
Liikevoitto (EBIT)131milj. USD
+238,5 %v/v
EBIT-marginaali20,5%
+33,8 %-yks.v/v
Nettotulos26,0milj. USD
+127,1 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−2000200400600800milj. USD2020: 591 milj. USD2020: EBIT 226 milj. USD20202021: 598 milj. USD2021: EBIT 246 milj. USD20212022: 624 milj. USD2022: EBIT 177 milj. USD20222023: 727 milj. USD2023: EBIT 315 milj. USD20232024: 711 milj. USD2024: EBIT −95 milj. USD20242025: 637 milj. USD2025: EBIT 131 milj. USD2025637131
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Seapeak LLC

Liiketoiminta

Osuus liikevaihdosta
LNG time charters65 %

Chartering LNG carriers under medium- to long-term fixed-rate contracts.

NGL time charters18 %

Chartering NGL vessels to transport natural gas liquids for customers.

Management fees and other income15 %

Fees from vessel management, operation, and corporate services to affiliates and joint ventures.

Terminal and joint venture services2 %

Revenue linked to the Bahrain LNG import terminal and equity-accounted joint ventures.

Tuotteet

Raportoitu · osuus liikevaihdosta
78,4%15,9%FY2025100 %
  • Lease Revenue78,4 %
  • Managementfeesandother15,9 %
  • Nonleaserevenue5,7 %

Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Seapeak primarily serves energy and LNG market participants that need seaborne transport capacity for liquefied gas cargoes. Its customers are typically charterers that value asset availability, voyage reliability, and contract coverage across LNG and NGL trade routes.

LNG charter customers

Energy companies and traders charter LNG carriers for medium- to long-term transport needs.

NGL charter customers

Counterparties moving natural gas liquids on chartered vessels for export or regional distribution.

Joint venture operators

Equity-accounted ventures that use Seapeak-related management and operating capabilities.

Terminal and infrastructure users

Parties connected to the Bahrain LNG import terminal and associated logistics services.

Strategia

Seapeak's strategy centers on servicing customers through an owned and leased fleet under medium- to long-term fixed-rate charters. It also evaluates adjacent liquefied gas markets, renewable markets, and other maritime opportunities, while using joint ventures and acquisitions to broaden access to growth opportunities in global LNG and NGL trade.

Charter fleet on fixed-rate contractsLyhyt aikaväli

Longer-duration charters help match vessel deployment with customer demand and fleet utilization.

Pursue adjacent gas and maritime opportunitiesKeskipitkä aikaväli

Diversifying into related markets can extend the asset base beyond core LNG shipping.

Use partnerships and acquisitionsKeskipitkä aikaväli

Joint ventures and acquisitions can add scale, access, and operating optionality.

Maantiede

Seapeak is an international shipping business, so its commercial footprint spans global LNG and NGL trade lanes rather than a single domestic market. The company is organized under Marshall Islands law and operates from the United States context, while its vessels and terminal-related services are deployed where liquefied gas logistics demand exists.

Riskit

Seapeak is exposed to shipping-market cyclicality, charter renewal risk, and dependence on the LNG/NGL trade backdrop that drives vessel demand. Its international structure also creates exposure to fuel, currency, regulatory, and counterparty risks, while asset-heavy operations make earnings sensitive to vessel utilization and contract coverage.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Charter rate and renewal risk1Energy trade and demand cyclicality2Foreign exchange and hedge accounting3Counterparty and JV exposure4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Charter rate and renewal riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Revenue depends heavily on time charters, so weaker market conditions can pressure contract economics when vessels re-charter.

    Kohdistuu: LNG and NGL vessel fleet

  2. Energy trade and demand cyclicalityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Marine transportation demand is tied to global LNG and NGL flows, which can shift with supply, demand, and geopolitics.

    Kohdistuu: International shipping routes

  3. Foreign exchange and hedge accountingVaikutus: KeskitasoTodennäköisyys: Korkea

    The company discloses NOK-denominated debt and cross-currency swaps, creating currency and derivative exposure.

    Kohdistuu: Debt and derivatives

  4. Counterparty and JV exposureVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Management fees, terminal services, and JV-related operations depend on counterparties honoring contracts and funding obligations.

    Kohdistuu: Joint ventures and terminal services

Kysy Clarifolta: Seapeak LLC

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition by contract type

Charter revenue, management fees, and terminal services may follow different recognition patterns under GAAP.

Vaikutus: Affects quarterly comparability and revenue mix analysis

Derivative and FX accounting

Cross-currency swaps and NOK debt create mark-to-market and remeasurement effects.

Vaikutus: Can move reported other income and comprehensive income

Equity-accounted joint ventures

JV earnings and obligations are not consolidated line-by-line, so performance depends on equity-method results and disclosures.

Vaikutus: Affects visibility into underlying cash generation

Lease accounting

Owned and leased vessel arrangements can change presentation between lease revenue and service income.

Vaikutus: Impacts segment margins and reported revenue composition

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Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 28.9.2026

Seapeak LLC (SEAL-PB) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo