Tsakos Takes Delivery of Tankers

Friday, May 04, 2007
Tsakos Energy Navigation Ltd. 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 m 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 Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

Oil Plunge Deepens High-yield Gloom

US crude fell to a more than six-year low this week, clouding the picture for a high-yield energy sector that already faces a significant cull when credit lines are reevaluated in autumn.

Oil Soars in Biggest One-day Rally in Years

Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies

 
 
Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair 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: 0.1309 sec (8 req/sec)