Tsakos Energy Navigation extends charters for seven panamax tankers

Tsakos Energy Navigation extends charters for seven panamax tankers

Greece’s Tsakos Energy Navigation (TEN) has announced that it has extended the charters for seven panamax tanker to a state oil company for an average of two years.

TEN said the charters all incorporate profit sharing provisions are expected to generate minimum revenues of $70m.

George Saroglou, COO of TEN, commented: “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.”

TEN has 11 panamaxes amongst its fleet of 65 tankers.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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