TEN Accepts Delivery of Nine-Vessel Western Petroleum Fleet

Tsakos Energy Navigation Limited (TEN) announced the completion of delivery of three LR Aframax newbuilding contracts and six 2005-built MR handymax tankers all with 1A ice-class designations and capable of carrying petroleum products. The first vessel, the Artemis, was delivered on April 11, 2006 while the remaining eight vessels and contracts were delivered in the course of the following four weeks. Of the six MR tankers delivered four will operate in extended time-charters while two will enter the spot market.