In March 2017, Teekay Parent secured a one-year charter contract for the Polar Spirit LNG carrier, which is in-chartered from Teekay LNG until April 2018, with a major energy company, which commenced in April 2017. Teekay LNG In May 2017, Teekay LNG's 52 percent-owned joint venture with Marubeni Corporation ( MALT LNG Joint Venture ) signed an 18-month charter contract (plus a one-year extension option) with a major Japanese utility company, which is scheduled to commence in the fourth quarter of 2018. This charter contract will be serviced by one of the MALT LNG Joint Venture's existing vessels currently trading in the short-term market.