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.