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Tankship Time Charter to Generate US$20-million for Tsakos

Tsakos Energy Navigation Limited (TEN) announce a three-year time charter extension for the 2007 built, 163,216 dwt, double hull suezmax tanker, 'Arctic'. The charter with the same South American state oil company incorporates minimum and maximum levels and a 50:50 profit split for rates in between. The minimum gross revenues from this fixture are estimated in the region of $20.0 million. "The principal…