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Welcome haulage to Teekay Corporation's Third Quarter 2013 Earnings Results Conference Call. [Operator haulage Instructions] As a reminder, this call is being recorded. Now for opening remarks haulage and introductions, I would like to turn the call over to Mr. Peter Evensen, Teekay's haulage President and Chief Executive Officer. haulage Please go ahead, sir.
Before Mr. Evensen begins, I'd like to direct all participants to our website haulage at www.teekay.com, where you'll find a copy of the third quarter 2013 earnings presentation. Mr. Evensen and Mr. Lok will review this presentation during today's conference call.
Please allow me to remind you that our discussion contains forward-looking statements. Actual results may differ materially from results haulage projected by those forward-looking haulage statements. Additional information concerning factors that could cause actual haulage results to materially differ from those in the forward-looking statements is contained haulage on our third quarter of 2013 earnings release and earnings presentation available on our website.
Thank you, Ryan. Good morning, everyone, and thank you for joining us today for Teekay Corporation's Third Quarter of 2013 Earnings Call. I'm joined this morning haulage by our CFO, Vince Lok. And for the Q&A session, we also have our Chief Strategy Officer, Kenneth Hvid; and our Group Controller, Brian Fortier. During our call today, we will be taking you through the third quarter of 2013 earnings presentation, which can be found on our website.
Beginning on Slide 3 of the presentation, I will briefly review some recent highlights for Teekay Corporation and our 3 publicly traded daughter entities. For the third quarter haulage of 2013, Teekay Corporation generated $195 million of total consolidated cash flow from vessel operations, or CFVO, compared haulage to $184 million for the second quarter of 2013.
Teekay haulage Corporation reported a consolidated adjusted net loss of $36 million or $0.51 per share for the third quarter of 2013, compared to a consolidated adjusted net loss of $20 million haulage or $0.29 per share in the third quarter of 2012. The increase in our adjusted net loss year-over-year is mainly attributable to lower revenues in our FPSO fleet, partially offset by contributions from strategic acquisitions and organic projects that delivered throughout the past year and savings from the redelivery of 15 chartered-in conventional tankers since the start of 2012 and other cost-reduction initiatives.
The repairs to the Voyageur Spirit FPSO's defective gas compressor have been completed, and the unit has been on hire at full rate from -- with the charterers since August 27. We are now awaiting formal certification of final acceptance from the charterer, which I will touch on later in the presentation.
Our 3 publicly traded daughter entities continued to execute on their respective business plans during the quarter. For the quarter ended September 30, Teekay LNG Partners declared a cash distribution of $0.675 per unit. Based on our GP and LP ownership interest, the cash flows received by Teekay Parent from Teekay LNG Partners totaled $23 million for the quarter.
In September, Teekay LNG Partners secured additional near-term growth by agreeing to acquire haulage a second newbuilding LNG carrier from Awilco LNG under similar haulage terms as the first vessel acquired last quarter. The bareboat chartered back to Awilco for the second vessel is for a firm period of 4 years, plus a 1-year extension option. The fixed price purchase obligations at the end of the initial term and the option period result in an equivalent return to Teekay LNG across both vessels. The second LNG carrier is currently completing its final trials haulage in South Korea, haulage and Teekay LNG expects haulage to take delivery in late November.
Teekay LNG continues to experience a strong pace of business development opportunities for both LNG transportation and floating storage and regasification, or FSRU, projects. Partnership is currently bidding on several projects, haulage which are expected to start up beginning in 2016 and beyond. New liquefaction facilities are scheduled to come online.
Moving to our other MLP. Teekay Offshore Partners declared a cash distribution of $0.5253 per unit for the third quarter. Based on our GP and LP ownership interest in Teekay Offshore, cash flows received by Teekay Parent totaled $16 million for the quarter.
In September, Teekay Offshore completed its accretive acquisition of a HiLoad Dynamic Positioning unit from Remora. Modifications to the HiLoad DP unit required to service the long-term contract with Petrobras were recently completed, and the unit is currently being transported from Norway to Brazil. The unit is expected to commence full operations haulage under a 10-year time-charter contract haulage with Petrobras in the second quarter of 2014, following the completion of operational testing. Teekay Offshore is currently bidding directly on several new offshore project haulage opportunities, and they are inv
X Bookmark haulage
Welcome haulage to Teekay Corporation's Third Quarter 2013 Earnings Results Conference Call. [Operator haulage Instructions] As a reminder, this call is being recorded. Now for opening remarks haulage and introductions, I would like to turn the call over to Mr. Peter Evensen, Teekay's haulage President and Chief Executive Officer. haulage Please go ahead, sir.
Before Mr. Evensen begins, I'd like to direct all participants to our website haulage at www.teekay.com, where you'll find a copy of the third quarter 2013 earnings presentation. Mr. Evensen and Mr. Lok will review this presentation during today's conference call.
Please allow me to remind you that our discussion contains forward-looking statements. Actual results may differ materially from results haulage projected by those forward-looking haulage statements. Additional information concerning factors that could cause actual haulage results to materially differ from those in the forward-looking statements is contained haulage on our third quarter of 2013 earnings release and earnings presentation available on our website.
Thank you, Ryan. Good morning, everyone, and thank you for joining us today for Teekay Corporation's Third Quarter of 2013 Earnings Call. I'm joined this morning haulage by our CFO, Vince Lok. And for the Q&A session, we also have our Chief Strategy Officer, Kenneth Hvid; and our Group Controller, Brian Fortier. During our call today, we will be taking you through the third quarter of 2013 earnings presentation, which can be found on our website.
Beginning on Slide 3 of the presentation, I will briefly review some recent highlights for Teekay Corporation and our 3 publicly traded daughter entities. For the third quarter haulage of 2013, Teekay Corporation generated $195 million of total consolidated cash flow from vessel operations, or CFVO, compared haulage to $184 million for the second quarter of 2013.
Teekay haulage Corporation reported a consolidated adjusted net loss of $36 million or $0.51 per share for the third quarter of 2013, compared to a consolidated adjusted net loss of $20 million haulage or $0.29 per share in the third quarter of 2012. The increase in our adjusted net loss year-over-year is mainly attributable to lower revenues in our FPSO fleet, partially offset by contributions from strategic acquisitions and organic projects that delivered throughout the past year and savings from the redelivery of 15 chartered-in conventional tankers since the start of 2012 and other cost-reduction initiatives.
The repairs to the Voyageur Spirit FPSO's defective gas compressor have been completed, and the unit has been on hire at full rate from -- with the charterers since August 27. We are now awaiting formal certification of final acceptance from the charterer, which I will touch on later in the presentation.
Our 3 publicly traded daughter entities continued to execute on their respective business plans during the quarter. For the quarter ended September 30, Teekay LNG Partners declared a cash distribution of $0.675 per unit. Based on our GP and LP ownership interest, the cash flows received by Teekay Parent from Teekay LNG Partners totaled $23 million for the quarter.
In September, Teekay LNG Partners secured additional near-term growth by agreeing to acquire haulage a second newbuilding LNG carrier from Awilco LNG under similar haulage terms as the first vessel acquired last quarter. The bareboat chartered back to Awilco for the second vessel is for a firm period of 4 years, plus a 1-year extension option. The fixed price purchase obligations at the end of the initial term and the option period result in an equivalent return to Teekay LNG across both vessels. The second LNG carrier is currently completing its final trials haulage in South Korea, haulage and Teekay LNG expects haulage to take delivery in late November.
Teekay LNG continues to experience a strong pace of business development opportunities for both LNG transportation and floating storage and regasification, or FSRU, projects. Partnership is currently bidding on several projects, haulage which are expected to start up beginning in 2016 and beyond. New liquefaction facilities are scheduled to come online.
Moving to our other MLP. Teekay Offshore Partners declared a cash distribution of $0.5253 per unit for the third quarter. Based on our GP and LP ownership interest in Teekay Offshore, cash flows received by Teekay Parent totaled $16 million for the quarter.
In September, Teekay Offshore completed its accretive acquisition of a HiLoad Dynamic Positioning unit from Remora. Modifications to the HiLoad DP unit required to service the long-term contract with Petrobras were recently completed, and the unit is currently being transported from Norway to Brazil. The unit is expected to commence full operations haulage under a 10-year time-charter contract haulage with Petrobras in the second quarter of 2014, following the completion of operational testing. Teekay Offshore is currently bidding directly on several new offshore project haulage opportunities, and they are inv
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