Tsakos Time Charter for Aframax Product Tanker

Thursday, July 23, 2009

Tsakos Energy Navigation Limited (NYSE:TNP) announced a fixed rate time charter starting this week for the 2006-built double hull Aframax product tanker Promitheas for up to six months. Prior to this charter the vessel operated in the spot market.

With the addition of this new time charter, TEN’s fixed employment for 2009 and 2010 is 63% and 44%, respectively. Ignoring the potential for profit sharing and assuming only the minimum rates for the remaining operating days in 2009, TEN expects to earn at least $127m in incremental gross revenues. For 2010, based on the same assumptions, the minimum gross revenue already secured is estimated at $170m.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Thrustmaster Announces Factory Expansion

Thrustmaster of Texas, a manufacturer of commercial marine propulsion products, signed a deal last week to expand its Houston-based production facility by 100,000 sqft (93,000 sq m).

Ocean Training Launches Blended Learning Course

Major revisions to the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (The STCW Convention) came into force in 2012.

CMA CGM Acquires 7,000 Reefer Containers

The CMA CGM Group announced it has acquired more than 7,000 of last generation 40’ High Cube Reefer containers including 6,000 low consumption engines. The CMA

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1895 sec (5 req/sec)