TEN Announces Time-Charter Extensions for Tankers

Wednesday, May 17, 2006
Tsakos Energy Navigation Ltd. (TEN) announced three-year charter extensions for its 2002-built double-hull Suezmax tankers, Cape Baker and Cape Balboa, to a major South American state oil company. The charter rates for the extensions are significantly higher than the prior rates and are over 55% higher than TEN's charter-in obligations, reflecting a healthy outlook for the market. Gross revenues for these two vessels are expected to exceed $75 million over the three-year charter period. These vessels were part of a sale & leaseback transaction TEN entered into in 2003 with options to repurchase the vessels, at specified prices, over the next two years.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

SAFE Boats Bags Homeland Security Order

Production of Customs and Border Protection’s coastal interceptor vessels to commence immediately   SAFE Boats International informs it has been awarded a contract from U.

Ardmore Shipping Takes Tanker Delivery

Ardmore Shipping Corporation took delivery of the newbuild product and chemical tanker vessel Ardmore Seafox on June 25, 2015, the company announced today. The 49,

PPG Debuts New Antifoulings

Low-friction, self-lubricating coatings use patented technology to deliver reduced fuel consumption and improved tolerance to idle time.   PPG Protective and

Tanker Trends

Ardmore Shipping Takes Tanker Delivery

Ardmore Shipping Corporation took delivery of the newbuild product and chemical tanker vessel Ardmore Seafox on June 25, 2015, the company announced today. The 49,

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural

GasLog Partners To Buy Three Vessels

GasLog Partners LP and GasLog Ltd. announced today the closing of the Partnership’s acquisition from GasLog of 100% of the ownership interests in the entities

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2176 sec (5 req/sec)