TEN Delivers Tanker Antarctic and Handysize Product Tanker Aegeas

Thursday, May 03, 2007
Tsakos Energy Navigation Ltd. (TEN) announced the delivery of the 162,400 dwt, 1A ice-class tanker Suezmax tanker Antarctic from Hyundai Heavy Industries and the 36,660 dwt 1A ice-class handysize product tanker Aegeas from Hyundai Mipo Dockyard, both in South Korea. The delivery of the Antarctic completes the company's current Suezmax newbuilding program while the delivery of the Aegeas further augments the company's ice-class capabilities in the product tanker category. The Aegeas will enter an attractive three year time-charter with a major international oil entity for a fixed minimum rate and a 50/50 profit share should rates exceed that minimum. Taking into account only the minimum rate, the Aegeas is expected to generate about $21 million in gross revenues over the charter period. The Antarctic has entered a repositioning voyage until the beginning of June and, upon expiration, it is expected to enter the spot market.

Maritime Today


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

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

People & Company News

Offshore Casualty: Harkand Group Collapses

As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

Shell Presents Crewmember Safety Awards

Shell Shipping and Maritime, Americas recently held its third annual Goal Zero Hero Awards dinner in Houston, recognizing the crewmembers of 21 contracted/chartered vessels,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics 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: 0.0776 sec (13 req/sec)