Greece’s Tsakos Energy Navigation (TEN) has announced the extension of one of its LNG carriers, for a minimum one year and maximum of three years.
The extension, with an unnamed charterer, is at an increased rate commencing in the first quarter of 2020. It is expected to generate around $30m of gross revenue.
George Saroglou, chief operating officer of TEN, commented: “We are delighted to continue the employment of our LNG carrier to one of the industry’s top names which highlights TEN’s operational capabilities in this highly demanding sector.
“The LNG sector continues to be an area of increasing interest to us and the recent newbuilding order is a testament to that. TEN’s diversified fleet of crude, product, shuttle tankers and LNG carriers, provides management with the flexibility to choose the most accretive business in each segment, in today’s strong tanker market environment.”