TEN Announces Three-Year Charters for Tankers Selecao

Monday, January 28, 2008
Tsakos Energy Navigation Limited announced three-year time- charters for Panamax newbuildings "Selecao" and "Socrates" to a major South American state oil company. The charters are expected to generate gross revenues in excess of $57 million for the Company over the corresponding charter period. The vessels are expected to be delivered in February and March of this year. After delivery of the "Selecao" and the "Socrates," TEN's earnings visibility will be further enhanced with 82% and 60% of 2008 and 2009 employment days fixed on time charters of varying types. These fixtures translate to an average of 2.1 years of employment for the 39 vessels under fixed charters and the total gross revenue these vessels are expected to generate (assuming only the minimum rate for the 24 vessels with profit sharing arrangements) will be approximately $700 million.
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

RoRo Ship Enters Operation for WWL

Wallenius Wilhelmsen Logistics welcomes into operation the M/V Thermopylae, the first of its new generation of Post Panamax HERO (High Efficiency RoRo) PCTC vessels.

Containership Becomes Largest to Sail the Thames

The Munkebo Maersk became the largest ship to ever sail up the River Thames as it called at DP World London Gateway, the U.K.’s newest deep-sea port hub. The 399-meter-long,

Rolls-Royce to Power Zhuhai Ferries

Rolls-Royce has been selected to supply waterjets and high speed MTU diesel engines to power two new aluminium catamaran fast ferries for Chinese ferry operator

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
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: 0.2124 sec (5 req/sec)