Greek tanker owner Tsakos Energy Navigation (TEN) has announced that it has sold two of its suezmaxes for $65.2m via a sale and leaseback deal with an unnamed party.
The company said the deal for 2005-built suezmax tankers Eurochampion 2004 and Euronike will help it to reduce debt and add $16m cash to its balance sheet.
George Saroglou, COO of TEN, commented:“Following the 15-vessel renewal program that was completed last quarter, the sale and purchase of vessels remains an integral part of TEN’s strategy to maintain its owned fleet modernity and enhance liquidity.”
The HHI-built vessels were delivered to their new owners in late December 2017 and go back to TEN on five-year charters.
