Greece's TEN Charters Out One Ship, Sells Two

Press Release
Thursday, January 24, 2013
TEN VLCC: Photo courtesy of Tsakos Energy Navigation

Tsakos Energy Navigation Limited (TEN) charters out ice-class aframax product tanker 'Propontiss', & sells two oldest vessels.

The company announce the charter of its 2008-built 1A ice-class aframax product tanker Propontis to Northern European end-users for two years, which is expected to generate $14.5 million of revenue over its duration.

In addition, the sale has been completed to third party interests of its two oldest vessels, the VLCCs La Prudencia and La Madrina, built in 1993 and 1994 respectively.

"We are pleased to report another attractive fixture which is again a testament of our strategy to maintain long term industrial relationships with high-end charterers for the versatile and quality fleet that we have built over the years. As we speak today, we have a fixed employment of approximately two years for each vessel in our fleet. Further on, the divestment of our two older assets will supplement our long stated, and so far successful, objective of cost containment while on the other hand allow us to maintain the young profile of our fleet.," said Mr. George Saroglou, Chief Operating Officer of TEN.

"These vessels have served the Company well over the years and we wish their new owners similar fortunes. We remain committed to enhancing and diversifying our revenue streams and we look forward to the introduction and subsequent 15-year employment of the two DP2 Shuttle tankers that will be delivered in March and April of this year," Mr. Saroglou concluded.
 

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,

Tanker Trends

Med Crude-Urals Stronger in Baltic as Surgut Sells Cargoes

Russian Urals crude price differentials strengthened in the Baltic in a spot tender on Tuesday after loading schedules confirmed scarce export volumes for May.   There

Tank Coating for Navig8 Chem Carriers

Shipowner Navig8 is progressing the application of Interline9001, a advanced cargo tank coating from AkzoNobel’s International marine product range, on a series

Containers, Crude Drive Q1 Increase at Marseille Fos

A record month for containers and a revival in crude oil imports boosted first quarter throughput at leading French port Marseille Fos to 20.1 million metric tons – up by 1.

Ship Sales

Diana Shipping Acquires Two More Bulkers

Diana Shipping Inc. announces the acquisition of a Kamsarmax dry bulk vessel as well as a newbuild Capesize dry bulk vessel   Diana Shipping Inc. signed, through a separate wholly-owned subsidiary,

D'Amico Orders Two 'Eco' LR1 Product Tankers

D'Amico International Shipping has ordered two new long range one product tankers, to be built by Vietnam’s Vinashin Shipyard Co for about $44m each.   The tankers

Scorpio Bulkers Sells Three Vessels

Scorpio Bulkers has agreed to sell two new capesize bulk carriers and an ultramax for a combined $111m to an unknown buyer.   The two capes are currently under

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics 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: 0.1163 sec (9 req/sec)