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Delivery, Charter of Maria Princess
Friday, October 24, 2008
Tsakos Energy Navigation Limited (TEN) announced the delivery of the double-hull DNA designed 105,000dwt Aframax Maria Princess from Sumitomo Heavy Industries in Japan. The Nippon Princess, a sister vessel to the Maria Princess, is expected to be delivered to the Company, from the same yard, on November 12, 2008.
On delivery, the Maria Princess commenced a 30-90 day repositioning time-charter to a major international oil trader at a $50,000 per day rate. A similar charter has also been arranged for the Nippon Princess. Upon conclusion of these charters, the vessels will be located to their natural trading area, the Mid-Atlantic basin, where management will determine the next employment from the various options currently available.
These Aframaxes are part of the eight vessel-Princess series the Company inaugurated in March 2007 with the delivery of the Izumo Princess, christened by Her Imperial Highness Princess Hisako Takamado of Japan. The Company expects to take delivery of the remaining five vessels, including the Nippon Princess, over the next six quarters.
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