TNG Gets Extension for ECO Tanker Charter

Maritime Activity Reports, Inc.

May 27, 2019

Pic: Tankerska Next Generation

Pic: Tankerska Next Generation

Croatian joint stock shipping company Tankerska Next Generation (TNG) has concluded an additional six-month charter deal for one of its ECO class product tankers with a leading U.S.charterer of some $17,100 per day.

The negotiated deal thoroughly represents the company's strategic concept that focuses on the determination to secure a strong asset base and stable cash flow.

In doing so, TNG minimizes the risk of its business operations, by means of balancing the employment of the fleet on voyage charter while still focusing on the significance of time charters.

Prior to that TNG secured 6 to 12 month time charter employment in charterers’ option for another ECO class product tanker. The contracted employment was with immediate effect.

The tanker will be chartered out to a prominent charterer at approximately USD 17,000 per day under regular market terms.

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