TEN wins new charters

TEN wins new charters

New York-listed Greek tanker owner Tsakos Energy Navigation (TEN) has announced new charters for three of its vessels worth over $32m.

The company has fixed charters for one of its aframax crude tankers and two MR product carriers to unnamed companies for an aggregate 6 years.

George Saroglou, chief operating officer of TEN, commented: “With these fixtures, TEN continues to increase its long term time charter coverage to major oil concerns and further solidify its cash flow and dividend visibility.

“With 78% of the fleet in long term charters, half of which with provisions to capture market upturns, resulting to minimum secured revenues of $1.4 billion, TEN is well positioned to benefit from the expected market upturn due to the fast declining orderbook and the seasonally strong months ahead.”

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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