Tsakos Energy announces delivery of second DP2 Shuttle Product Tanker
Minimum secured revenue of over $1.0 billion
Average secured fleet employment of 3.2 years per vessel
Athens, Greece – April 26, 2013
The Brasil 2014 is a sister vessel to the Rio 2016 th at was delivered in March. Both vessels are being deployed on 15-year charters to a major South-Amer ican oil concern with contracts that are expected to generate $520 million in gross revenues. This brings TEN’s fleet to comprise of 28 prod uct carriers, 19 crude tankers and 2 LNG carriers, including a newbuild.
TEN’s fixed minimum contracted revenues exceed $1.0 billion with an average secured fleet employment of 3.2 years per vessel.
“We are delighted to have taken delivery of our sec ond DP2 shuttle tanker that further strengthens our presence in this high-end and rewarding specialized segment,” stated Mr. Nikolas P. Tsakos, President and CEO of TEN. “With a leading position in prod uct tankers, solid critical mass in crude and established presence in LNG, we have positioned the Company to immediately take advantage of market upturns, already evident in our main sector the products, and at the same time expand and solidify our future revenue streams,” Mr. Tsakos concluded.
About Tsakos Energy Navigation
To date, TEN's fleet, including an LNG carrier under c onstruction, consists of 49 double-hull vessels, a mix of product tankers, crude tankers and LNG carri ers, totaling 4.9 million dwt. Of these, 19 are crude tankers ranging from VLCCs to aframaxes, 28 are product carriers ranging from shuttle suezmaxes to handysize and two are LNG carriers.
TEN’s current newbuilding program:
• LNG 86,000dwt/162,000 cbm Tri-Fuel Scheduled Delivery: Second half 2015
(All vessels are Double Hull)
Tsakos Energy Navigation press release
