Tsakos Energy Navigation Ltd. Announces charter extension for one MR Tanker and commencement of strategic alliance with European oil major through the chartering of a modern crude Aframax vessel
Athens, Greece — May 5, 2014
Tsakos Energy Navigation Ltd. (NYSE:TNP), a leading crude, product and LNG tanker operator, today announced the charter extension for a further
12-months of one of its MR tankers to the current charterer, a major Japanese trading house.
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Concurrent with this, TEN commenced its strategic partnership with a major European oil major through the chartering of the first of its modern DNA Aframax crude carriers operating, up to now, in the spot market.
“We view the above fixtures as a reflection of the growing appetite of major end-users to subcontract their cargo needs to proven and reliable operators, particularly with modern fleets, like ourselves,” stated Mr. Nicholas P. Tsakos, President & CEO of TEN.
“With the majority of our fleet today operating in crude trades but also with a notable presence in products operations, coupled with our shuttle tankers and LNG vessels, we feel confident that our Company will continue reaping the rewards that are steadily surfacing and further solidify its bottom line not only through the straight chartering of vessels but also through deeper strategic initiatives that have been, and will continue to be, pursued”. Mr. Tsakos concluded.
About Tsakos Energy Navigation
To date, TEN's fleet, including the LNG carrier Maria Energy and nine Aframax crude oil tankers under construction, consists of 58 double-hull vessels, a mix of product tankers, crude tankers and LNG carriers, totaling 5.9 million dwt. Of these, 28 are product carriers ranging from DP2 shuttle suezmaxes to handysize, 14 of which are currently carrying crude cargoes, 28 are crude tankers ranging from VLCCs to Aframaxes, and two are LNG carriers.
Tsakos Energy Navigation press release
