TEN Acquires VLCC M/T Maersk Estelle

Tuesday, December 23, 2003
Tsakos Energy Navigation Limited (TEN) announced that it has acquired the 299,700 dwt double hull VLCC M/T Maersk Estelle, built in Denmark in 1994, from the AP Moller / Maersk Group. Initially, this vessel will participate in the current strong spot market while the Company considers opportunities for longer-term employment. TEN will assume ownership of the vessel during the later part of January 2004. "We are very excited about this latest addition to our fleet of young and environmentally friendly tankers," stated Nikolas P. Tsakos, President and CEO of Tsakos Energy Navigation. "This is the first vessel that we have acquired outside our 23 vessel strong newbuilding program since 1997. However, the quality of the tonnage, coupled with the increased demand for vessels of this type, made this an extremely attractive transaction. We anticipate that the revenues generated by this vessel will have an immediate impact to our bottom line."
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

Navy Awards Austal $691M for Two Littoral Combat Ships

The U.S. Navy has ordered two new littoral combat ships from Austal, the shipbuilder said in a press release today. The two orders, worth $691 million, are part

Cruise Ship Trends

Costa Concordia Used For Mafia Drug Smuggling

The doomed Costa Concordia was carrying a huge shipment of Mafia-owned cocaine when it set off on its final voyage, AP reports quoting investigators who have collected evidence.

Viking Enters Ocean Cruise Industry

Viking Ocean Cruises has announced it took delivery of Viking Star, marking the company's official arrival into the ocean cruise industry.   The delivery ceremony

VIKING LifeCraft Presented at IMO

This week, VIKING Life-Saving Equipment took a step towards gaining approval for the VIKING LifeCraft, its alternative life-saving appliance (LSA) for passenger ships.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Salvage Ship Repair Ship Simulators Sonar
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: 0.1274 sec (8 req/sec)