TEN, China Class Sign Agreement

Tuesday, October 26, 2010

Tsakos Energy Navigation signed a cooperation agreement with China Classification Society (CCS) to jointly develop shipping and energy related projects
in China. CCS was established in 1956, is one of the ten full members of the International Association ofClassification Societies (IACS) and the only specialized organization of China to provide classification services. By the end of 2009, CCS classed fleet was 2,282 ships totalling 34.45 million gross tonnage.
“This agreement creates for TEN new opportunities for strategic business development in China with a strong and reliable local partner” Nikolas P. Tsakos, President & CEO of TEN said. “The economic development and potential of China is staggering. With its continued infrastructure development, China has played and will continue to play a major role in raw materials commodity growth, global energy demand and thus in shipping.”
“We believe that CCS will be our gateway in developing energy and shipping related opportunities in China. In TEN, the focus has always been in developing long term, strategic relationships with oil majors, government entities and refineries in both the developed and developing world.”

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