TEN Announces New Time Charter

Wednesday, July 28, 2004
Tsakos Energy Navigation Limited (TEN) announced a new time charter contract for the aframax Toula Z to Exxon-Mobil. The vessel has been chartered for three years for the transport of crude oil worldwide. The new charter commences in the third quarter of 2004 upon expiration of the vessel's current contract. The rate is accretive, and is expected to have a positive impact on earnings. "Our ability to provide quality tonnage to oil majors around the world is a key part of business strategy," said Nikolas P. Tsakos, President and CEO of TEN. "This latest contract with Exxon illustrates that our deep relationships with top-tier companies continue to support our growth and provide increase shareholder value. We remain focused on building and maintaining tankers that meet our clients' individual requirements and on providing superior customer service and support." Mr. Tsakos continued, "Our fleet will continue to grow over the coming quarters. The new ice-class vessels and LNG carrier that we have on order will enable us to meet the growing needs of our expanding client base. We will continue to strengthen our balance sheet by securing attractive, long-term charters that will ensure a steady and predictable flow of earnings."

Maritime Today


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

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

Offshore

Premier Oil and Rockhopper Abandon Ocean Rig Contract

Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, cancelled a joint venture contract with Ocean Rig UDW.

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
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: 0.0579 sec (17 req/sec)