TEN Announces New Time Charters

Thursday, March 20, 2003
Tsakos Energy Navigation Limited (TEN) announced new time-charter contracts for two of its product carriers, the Libra and the Crux. The Libra has a two-year contract, with a further one-year option, starting immediately at a rate of $13,450 with a major North American oil concern. The Crux has a sixteen-month time charter starting in April 2003 at $13,000 with another major international charterer. "With these contracts, TEN is continuing its established practice of maintaining a balanced fleet employment profile with spot voyages and medium to long-term accretive charters," said Nikolas P. Tsakos, President and CEO. He added, "The attractive rates that we have secured for these vessels are indicative of the continued strong market that we have been observing over the last several months. These charters will positively impact earnings and enhance shareholder value." Overall TEN has 14 vessels operating with medium or long-term employment charters or contracts accounting for 57 percent of estimated operating days for 2003, which should provide a sustainable flow of revenue and profits.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

QinetiQ Signs Contract with ASV

QinetiQ, as part of a new Marine Surface Target Service, has signed a contract with Autonomous Surface Vehicles (ASV) for the supply and operational support of autonomous surface target vessels.

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Bollinger to Build 6 More FRCs for the USCG

Bollinger Shipyards, Inc., Lockport, Louisiana, announced the award of six additional USCG Sentinel Class Fast Response Cutters (FRCs). The U. S. Coast Guard

Shipbuilding

GTT Wins DSME Order for 9 More Icebreaking LNGCs

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of Liquefied Natural Gas (LNG), announced

Volvo Penta Diesel Sterndrives for Metal Shark Patrol Boats

Metal Shark now offers Volvo Penta diesel sterndrives in its 29 Defiant patrol boats for customers requiring optimum performance, durability and maneuverability.

More VDR Orders for Danelec in China

Danelec Marine has received orders to supply Voyage Data Recorders (VDRs) and Electronic Chart Display and Information Systems (ECDIS) for 18 offshore support vessels in China.

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1167 sec (9 req/sec)