Tsakos Takes Delivery of Tankers

Friday, May 04, 2007
Tsakos Energy Navigation Ltd. announced the delivery of the 162,400 dwt, 1A ice-class tanker Suezmax tanker Antarctic from Hyundai Heavy Industries and the 36,660 dwt 1A ice-class handysize product tanker Aegeas from Hyundai Mipo Dockyard, both in South Korea. The delivery of the Antarctic completes the Company’s current Suezmax newbuilding program while the delivery of the Aegeas further augments the Company’s ice-class capabilities in the product tanker category. The Aegeas will enter an attractive three year time-charter with a major international oil entity for a fixed minimum rate and a 50/50 profit share should rates exceed that minimum. Taking into account only the minimum rate, the Aegeas is expected to generate about $21 m in gross revenues over the charter period. The Antarctic has entered a repositioning voyage until the beginning of June and, upon expiration, it is expected to enter the spot market.
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

Frontline Disappoints with Deeper 3Q Loss

Frontline, once the world's biggest crude oil tanker company, reported a bigger than expected third-quarter loss on Tuesday and said it is still considering options

Navios Revenue Up 25% in 3Q 2014

Highlights of Navios Maritime Holdings Inc. Financial Results for the Third Quarter and Nine Months Ended September 30, 2014: Revenue 25% increase to $152.

 
 
Maritime Careers / Shipboard Positions Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0986 sec (10 req/sec)