Tsakos Energy Navigation Limited (TEN), a leading product,
crude and LNG tanker operator, yesterday announced three-year charters
for five Panamax LR1 product tankers to a major national end-user. These fixtures are expected to generate close to $80 million in gross
revenues over the duration of their contracts.Inclusive of the above, the total revenue of the Company’s secured
fleet, excluding any profit sharing arrangements, is over $1.0 billion.“We are happy to announce this five-vessel fixture which is in
line with the improving sentiment in the greater tanker sector and an
extension of our strategic alliance with major end users,” said George Saroglou, Chief Operating Officer. “Operating one of the largest and most versatile product tanker fleets
in the world, particularly with the recent addition of a shuttle tanker, and another to join the fleet this April, we feel that TEN’s income
stream, particularly with the profit sharing element attached in some of our vessels and together with the earnings visibility, position the
Company well for the expected market turnaround,” Mr. Saroglou concluded.
WORLD SHIPPING
20 March 2013 - 20:46
Greece: TEN Announces Charter Contracts for Five Tankers
TEN, a leading product, crude and LNG tanker operator, yesterday announced three-year charters for five Panamax LR1 product tankers
WORLD SHIPPING
20 March 2013 - 20:46
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