LNG

May 14 (LNGJ) - Teekay LNG Partners said first-quarter cash flow rose 10 percent to $66.2 million compared with $60.1M in the year-ago period. "This rise was partially offset by a grounding incident and related disputed off-hire for the 52 percent-owned 'Magellan Spirit' LNG carrier during the first quarter of 2015, the scheduled expiry of the time-charter contract for the 52 percent-owned 'Methane Spirit' in mid-March 2015," it said. Peter Evensen, Chief Executive, said: "The partnership is largely insulated from short-term LNG shipping rate fluctuations and remains well-positioned for expected future growth. Spot and short-term LNG shipping rates continued to decline from the start of 2015 due to low Asian LNG prices, production outages at various liquefaction plants and the delivery of speculative LNG carriers ahead of corresponding LNG supply growth."