TEN Announces Delivery of Tankers

Wednesday, May 31, 2006
Tsakos Energy Navigation Ltd. (TEN) announced the delivery of the 1A ice-class 116,000 dwt Aframax product tanker Proteas and the 1A ice-class 36,660 dwt Handysize product tanker Antares from Hyundai Heavy Industries and Hyundai Mipo Dockyard, respectively. Upon delivery, the Proteas, one of the largest product tankers in the world and one of the three Aframax tankers recently acquired from Western Petroleum, entered a spot related voyage carrying naptha. The Antares entered a three-year time charter with a major Far Eastern entity for a minimum rate that exceeds the vessel's all-in breakeven rate. The charter also calls for a 50:50 split on the upside if rates exceed a specified level above the minimum. For the duration of the charter, the minimum rate of the Antares should provide the company with an additional $16 million in gross revenue.
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Creole Spirit Sets Sail for Sea Trials

Teekay’s first M-type, Electronically Controlled, Gas Injection (MEGI)-powered LNG vessel, Creole Spirit, has sailed out from the Daewoo Shipbuilding & Marine Engineering

House Passes Bill to Repeal US Oil Export Ban, Veto Looms

The U.S. House of Representatives passed a bill on Friday to overturn the 40-year-old ban on oil exports, but the measure did not get enough support to overturn any veto by President Barack Obama,

Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Maritime Contracts Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
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: 0.1457 sec (7 req/sec)