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 Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

BP Gulf Spill Trial Set For January

The high-stakes penalty phase of BP's trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday,

North Sea Maintenance Offsets Lack of Sales to Asia

North Sea Forties crude differentials were unchanged on Tuesday in light trade, supported by upcoming North Sea maintenance, but the forward curve weakened due

Saipem: A Fleet Grows in Brazil

As some pre-salt plays begin production, a wide range of subsea infrastructure is being built, with O&G transportation pipeline grids being one of the vital downstream systems.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.0787 sec (13 req/sec)