rss icon Subscribe
desktop mobile

TEN Gets Charter Extension for Seven Panamaxes

Photo: Tsakos Energy Navigation Limited

By Aiswarya Lakshmi

Greece-based Tsakos Energy Navigation (TEN) has announced the charter extension for seven panamax tankers, for an average of 24 months, to a state oil concern.

The charters which all incorporate profit sharing provisions are expected to generate minimum gross revenues of over $70 million.
"These charters, in terms of duration, security, flexibility and quality, enhance the industrial nature of our business, further solidify our fleet's cash generating ability, strengthen our balance sheet and provide visibility of earnings and dividends," George Saroglou, COO of TEN commented.
TEN is one of the oldest and largest independent transporters of energy in the world.
TEN's fleet consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 47 vessels trade in crude, 13 in products, three are shuttle tankers and two are liquefied natural gas (LNG) carriers.

Feb 14, 2018

 

Contracts

Chinese Steel Mills Chase Iron Ore Contracts with Brazil's Vale

© Fotosenmeer / Adobe Stock

Chinese steel mills and traders are rushing to secure long-term contracts for high-quality iron

MAN Propulsion for 7 Russian Factory Trawlers

(Image: MAN Energy Solutions)

MAN Energy Solutions said it has won the contract to supply propulsion systems for seven new

Austal Awarded Two More Independence-variant LCS

(U.S. Navy photo courtesy of Austal USA)

The U.S. Navy awarded a contract modification to shipbuilder Austal USA to build two additional

Finance

INSIGHTS: John Rynd / President , CEO and Director, Tidewater Inc.

John Rynd / President , CEO and Director, Tidewater Inc.

Mr. John Rynd graduated from Texas A&M University with a Bachelor of Arts degree in Economics.

Suez Canal Revenues Jump in August

© Carabay / Adobe Stock

Egypt’s Suez Canal revenues rose to $502.2 million in August up 6.7 percent from the same period

Odfjell Finalizes Sale of Rotterdam Tank Terminal

(Photo: Odfjell)

Norwegian shipping and tank terminal company Odfjell SE announced on Thursday that it has

Maritime Apps