TSAKOS Announces The Completion Of Sale Of The Aframax Tanker Opal Queen

Friday, March 25, 2011

ATHENS, GREECE – March 24, 2011 - Tsakos Energy Navigation Limited (“TEN” or the “Company”) (NYSE:TNP) today announced the delivery of the 2001-built aframax tanker Opal Queen to her new owners. The capital gain of over $5 million while the free cash of over $16 million from this sale will be recorded in the first quarter of 2011, while the free cash to be generated will be used for future vessel opportunities.
 
George Saroglou, Chief Operating Officer, said “Sale & Purchase activity is an integral part of TEN’s operations that has generated close to $280 million in capital gains. The transaction displays the Company’s ability to supplement its profits through sales and project its reputation of having a fleet with superior technical characteristics that appeal to prospective buyers of vessels. We wish the vessel’s new owners safe and profitable voyages”.
 

Source: TSAKOS

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

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage 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: 0.0836 sec (12 req/sec)