TEN Exercises Options for Product Carriers

Thursday, March 18, 2004
Tsakos Energy Navigation Limited (TEN) has exercised options for two handysize, double hull, 1A ice-class tankers, with carrying capacity of 37,000 dwt each. The vessels have a contract price of just under $30 million per ship and are scheduled for delivery in March and June of 2007. These vessels are sister ships to the newbuildings announced in January of this year. The vessels are to be constructed by Hyundai Heavy Industries at their Mipo shipyard, and represent the 28th and 29th vessels in TEN's newbuilding program since 1997. These vessels are specifically designed to meet the stringent requirements of classification societies and other regulatory bodies, the rules and guidelines of oil majors and various port authorities and terminals relating to environmental protection. They can also carry all petroleum products including all types and categories of aviation fuels and light chemicals including alcohol and MTBE, the "green", environmentally friendly additive in gasoline. Additionally, the vessels adhere to the Finnish Maritime Authority (FMA) standards, which ensure high structure strength for operation in areas with heavy ice presence. "With the exercise of these options, TEN has clearly illustrated its commitment to maintain a diversified fleet which meets the growing needs of its clients," said Nikolas P. Tsakos, President and CEO of TEN. "These environmentally friendly, high-specification vessels have the opportunity to earn a significant premium for their trading versatility. We expect future demand for this type of vessel to increase, and by building these vessels now, TEN joins an exclusive fraternity of shipowners who participate in this specialized segment of our industry."
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Navy Awards Contract for Passenger Terminal Renovation in Hawaii

Naval Facilities Engineering Command (NAVFAC) Hawaii awarded a $20.5 million firm-fixed-price task order under a multiple award construction contract April 27 to Insight Pacific LLC,

Damen Launches First of Two Ro-Pax Ferries

Eighty-meter ice class Ro-Pax ferry MV Veteran was recently launched by Damen Shipyards Galaţi in Romania, the builder announced today.   The vessel represents the first of a two-vessel contract,

U.S. Renews Security Pledge to Japan

U.S. Secretary of State John Kerry told Japanese leaders on Monday that Washington's treaty commitments to Japan's security remain "iron-clad" and cover all territories under Tokyo's administration,

Maritime Security

Ship Management Says Concerned for Crew After Iran Fires Shots

Rickmers Shipmanagement, the Singapore-based company that has chartered the Maersk Tigris, said Iranian officials fired warning shots at the container ship and boarded it on Tuesday.

Iranian Navy Seized Ship Under Court Order -Fars

The Iranian navy seized a ship on Tuesday at the request of Iran's Ports and Maritime Organization, the English-language service of Iran's semi-official Fars News Agency reported.

Iran Interception of Cargo Ship Appears 'Provocative' -Pentagon

The Pentagon on Tuesday said Iran's interception of a Marshall Islands-flagged cargo vessel appeared to be a "provocative" act, but U.S. officials did not have all the facts surrounding the incident.

 
 
Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1480 sec (7 req/sec)