TEN’s latest tanker starts timecharter

TEN’s latest tanker starts timecharter

A brand-new product tanker has been delivered to Tsakos Energy Navigation (TEN) from South Korea’s Sungdong shipyard and will immediately commence a timecharter to an unnamed “significant” oil major.

Sunray (74,200 dwt, built 2016) will commence a profit-sharing contract of between 54 to 78 months and could generate minimum gross revenue of $40.5m, the NYSE-listed shipowner said.

This is equivalent to daily earnings of around $21,194 during the minimum period of the contract, although the specific charter rate was not disclosed.

The panamax tanker is the fourth vessel to be delivered to TEN since June, as part of its 12-vessel fleet growth programme.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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