TEN Enters Four-Year Time Charter

Monday, June 20, 2011

Tsakos Energy Navigation Ltd. ("TEN") (NYSE: TNP) has announced a four-year time charter for the 2007-built 150,000 m3 LNG carrier Neo Energy to a major international energy concern. The charter is
expected to commence in the first quarter of next year upon expiration of the vessel’s existing employment. This new charter, in line with current market levels, is anticipated to make a significant contribution to the bottom line over its duration.

“The operational performance of the Neo Energy since delivery in 2007 coupled with the current strength in the LNG markets has enabled us to secure an attractive employment for the vessel over the next four years,” stated Mr. Nikolas P. Tsakos, President and Chief Executive Officer of TEN. “The LNG market remains a close-knit and selective sector with demanding operating procedures. TEN has qualified as a reliable owner and operator of LNG tonnage and gained the acceptance of the LNG community worldwide. We view LNG transportation as integral in the overall energy chain, and we will continue to explore tangible opportunities in order to expand our footprint in this promising sector,” Mr. Tsakos concluded.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Shell's Arctic Return Faces Hurdle at Seattle Port

Royal Dutch Shell's quest to return to Arctic drilling for the first time in three years could face delays after Seattle ruled that the city's port must apply for

Matson Q1 Results Show Improved Performance

Matson, Inc. today reported net income of $25 million, or $0.57 per diluted share for the quarter ended March 31, 2015. Net income for the quarter ended March 31, 2014 was $3.

Willard Adds Sales Manager for Gulf Coast, Florida

Willard Marine, Inc. has hired Jimmy Sorenson as regional sales manager for the Gulf Coast and Florida.   Sorenson served 11 years with the U.S. Coast Guard in

LNG

Hybrid Power for Workboats: The Future is Now

Hybrid marine power and propulsion systems for workboats isn’t farfetched. In fact, it may be essential.   In 2015, two significant developments are going to make many operators,

USCG Monitors LNG Carrier Repair in Alaska

The U.S. Coast Guard (USCG) is monitoring repairs aboard the liquid natural gas (LNG) carrier Excel in Homer, Alaska.    The vessel was received an order from

LNG Tanker Due in UK Around May 6

Britain's Isle of Grain liquefied natural gas (LNG) import terminal is set to receive the GDF Suez Point Fortin tanker on around May 6, live ship-tracking data on Reuters Eikon shows.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators 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: 0.1471 sec (7 req/sec)