Marine Road RailAltera Infrastructure
This brief is in active production
Basics
- Name: Altera Infrastructure Group Ltd.
- Headquarters: Scotland, UK
- Altera was previously named Teekay Offshore.
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AIG Ltd owns
- Altera Infrastructure L.P.
- Altera (Atlantic) Management ULP (Unifor's employer)
- Several other similar subsidaries including contract long-distance, rough seas tow boats.
- The name changes was after Brookfield purchased them and a rebrand away from "oil" and towards "sustainability".
- Altera Infrastructure L.P. emerged from Bankruptcy protection this January of 2023.
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Altera was taken private by Brookfield Business Partners in May, 2019.
- Brookfield is a Toronto-based private equity company.
- Brookfield provided debtor in possession coverage for the bankruptcy and is its equity sposor.
- Brookfield has a 99% voting interest and a 43% economic interest in Altera Infrastructure L.P. United States.
- Brookfield does not list labour union disruption in their filings as a major source of risk. Instead, it is winning contract bids across all parts of the operation that affect profitability.
Unifor members
The strike notice identifies Unifor members who operate "tugs".
However, our understanding is that the contract covers deck workers (boatswain and deck hands) and two cook positions.
Altera owns three large shuttle tankers that transport oil between the off-shore platforms and the harbour.
Altera has predicted rising rates because of under-supply of Shuttle Tankers starting in 2029, but constant work until then of current supply. They also have 100% of the market here for operations.
