Tsakos Delivers Shuttle Product Tanker

Friday, April 26, 2013

Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator today announced the successful delivery of its second fully coated DP2 suezmax shuttle product tanker, Brasil 2014, from South Korea.

The Brasil 2014 is a sister vessel to the Rio 2016 that was delivered in March. Both vessels are being deployed on 15-year charters to a major South-American oil concern with contracts that are expected to generate $520 million in gross revenues.

This brings TEN's fleet to comprise of 28 product carriers, 19 crude tankers and two LNG carriers, including a newbuild.

TEN's fixed minimum contracted revenues exceed $1 billion with an average secured fleet employment of 3.2 years per vessel.

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