TEN Announces Charters for Tankers

Tuesday, March 20, 2007
New Charters Expected to Generate a Minimum of $42M in Gross Revenue Tsakos Energy Navigation Ltd. (TEN) announced the fixture of the 2006-built 1A ice-class Handysize product tanker Andromeda for three-years to an international trading house for a minimum rate and a 50:50 profit share if rates exceed that minimum. Concurrently with this fixture, TEN concluded a three-year charter, to the same end-user and for the same terms, for the sister handysize vessel Aegeas which is expected to be delivered in April 2007 from Hyundai Mipo Dockyard in South Korea. The charter of the Andromeda will commence in May 2007 while for the Aegeas immediately upon delivery. By earning just the minimum rate, the company expects to generate at least $42 million in gross revenues over the corresponding charter period.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair
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: 0.1708 sec (6 req/sec)