TEN Charters up to Two Suezmax Shuttle Tankers
Tsakos Energy Navigation Ltd., a crude, product and LNG tanker operator, reached an agreement for a long-term time charter to a national oil company of a new DP2 suezmax shuttle tanker for delivery in the first quarter of 2017, with an option for a second vessel. This project will make a positive contribution to TEN’s bottom line. Shuttle tankers are a highly specialized sector, which calls for state of the art vessels specifically designed for oil transport from an offshore field. Typically, such vessels are committed to industrial projects for long periods and function in a complex operational environment. Nikolas P.
Tsakos Energy Navigation Ltd to Build LR1s for Oil Major
Tsakos Energy Navigation Limited (TEN) announced today the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months respectively with charterers options for another 12 months for each vessel at an accretive base rate with profit sharing. TEN expects minimum gross revenues of approximately $35 million for the full period. In addition, TEN announces today the commencement of a new partnership with another oil major for the construction and chartering of two LR1 tankers for five years. The option to declare two additional LR1 vessels expires at the end of October 2014.
TEN Charters Out Suezmax Tankers
Tsakos Energy Navigation Limited (TEN) announced the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months, with charterer options for another 12 months for each vessel at a base rate with profit sharing. TEN expects minimum gross revenues of about $35m for the period. In addition, TEN announced the start of a partnership with another oil major for the construction and chartering of two LR1 tankers for five years. The option to declare two additional LR1 vessels expires October 2014. The vessels…
