TEN Accepts Delivery and Charter of Tanker

Wednesday, April 12, 2006
Tsakos Energy Navigation Limited (TEN) announced the delivery of the 2005- built 53,000 dwt double-hull Medium Range (MR) product tanker, Artemis. This vessel is the first delivery from the nine-vessel fleet acquired from Western Petroleum S.A. earlier this year. The fleet consists of six 2005-built MR product tankers and three 2006-built Long Range (LR) Aframax product tankers, all with 1A ice-class designations. Upon delivery, the Artemis will operate in the spot market The remaining five MR tankers are scheduled to be delivered to the Company later this month and the three LR Aframaxes are expected to be delivered during May and June of this year.

Following the delivery of the six MR product tankers this month, the next newbuildings to join TEN's fleet will be the 1A 116,000dwt LR Aframax tanker Proteas, and the TEN built 1A 36,660dwt product tanker Antares. Both deliveries from Hyundai Mipo Dockyard of South Korea are expected at the end of May of this year.

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