Marine Link
Thursday, October 19, 2017

TEN Delivers Aframax Tanker

August 16, 2016

Image: Daewoo Mangalia Heavy Industries

Image: Daewoo Mangalia Heavy Industries

 Tsakos Energy Navigation (TEN Ltd) has announced the delivery of the Aframax crude tanker "Thomas Zafiras" from Daewoo Mangalia Heavy Industries which will immediately enter a long term contract to a Northern European charterer that could generate gross revenues in excess of $100 million.

 
This is the second vessel in a series of nine purposely built Aframax tankers on long term time charters at accretive rates. 
 
TEN's new building program continues later this month with the delivery of a Panamax LR1 tanker also chartered to long term accretive employment.
 
The majority of the Company's new building vessels are built against long lasting time charters that secure revenue growth and dividend distributions.
 
 TEN is a leading crude, product and LNG tanker operator. The Company's pro-forma fleet, including one VLCC, one LNG carrier, eight Aframax tankers, a Suezmax DP2 shuttle tanker and two LR1 product tankers all under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 7.2 million dwt. Of these, 47 vessels trade in crude, 13 in products, three are shuttle tankers and two are LNG carriers.
 
Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News