TEN Announces the Delivery and Charter of

TEN Announces the Delivery and Charter of Suezmax Tanker

Thursday, January 11, 2007

Tsakos Energy Navigation Ltd. (TEN) announced the delivery of the 1A ice-class 162,400 dwt Suezmax tanker Arctic from South Korea's Hyundai Heavy Industries. The introduction of the Arctic raises the company's Suezmaxes to nine of which five are of ice-class design. With the Arctic, the fleet's total ice-class capacity in the water now stands at 18 vessels. Upon delivery, the Arctic will enter a forty-day repositioning charter with a major end-user at an attractive rate.

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