Greek owner Tsakos Energy Navigation (TEN) has secured a 24-month charter extension for two of its panamax tankers.
The employment, with a leading South American oil concern, is expected to generate minimum gross revenues of about $25m over the duration of the contracts.
“Long-term continuity is in the core of TEN’s commercial strategy with the establishment and expansion of solid partnerships,” said George Saroglou, COO of TEN, adding that “In today’s uncertain environment, such strategy ensures full fleet utilisation and upside potential, directly reflected on the company’s bottom line.”
The New York-listed TEN currently has a fleet of 71 vessels. The company’s newbuilding program includes one suezmax shuttle tanker and four dual-fuel LNG-powered aframaxes.
