By George George
New charters for the tankers of its fleet were secured by Tsakos Energy Navigation (TEN), interests of Nikolas Tsakos.
In particular, the company announced the expansion of charters of two tankers, type aframax, for a combined period of 48 months, with a large oil company.
With these two transactions, the announcement states, the total number of long-term charters secured in the previous quarter, “climbs” to 10.
These deals, combined with the minimum charter revenue of an LNG carrier and a shuttle tanker, which will be delivered in the first and second quarters of 2022 respectively, are expected to generate gross revenue of $ 500 million.
“The recent trend for long-term charters is a sign of increased demand for tanker services. TEN will directly benefit from the expected market growth,” said, among others, the company’s COO, George Saroglou.
“These two charters, along with the recently closed ones, provide improved cash flow visibility and flexibility and make TEN an attractive proposition,” he added.
The Wall Street-listed company manages a fleet of 71 ships, tankers and LNG carriers. At the same time, a shipbuilding program is “running” for an LNG carrier, a suezmax and four dual fuel aframaxes with LNG combustion capability
Read also:
* New deals on containerships by Thanasis Martino, Tsakos Group and Giannis Koustas
* What does Nikolas Tsakos “see” for freight market, oil and “green” investments
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Source From: Capital
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