New York-listed Greek tanker owner Tsakos Energy Navigation (TEN) has announced that it has fixed two product tankers to an oil major for a period of three years.
The charters include a min/max provision and are expected to generate revenues of $33m, and potentially up to $60m.
George Saroglou, CEO of Ten, commented: “With 2018 finishing on an upbeat note for all tanker segments, these two fixtures further signify a strong market for this year which the Company’s employment strategy is designed to take advantage of.
“We expect the market in 2019 to maintain the strong momentum as a result of the current supply and demand equilibrium as well as the anticipated disruptions due to the upcoming IMO 2020 emission regulations. TEN is positioning itself appropriately to benefit from this unfolding positive freight environment.”