TEN Secures Charters for Product Tanker Duo

Tankerllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Greece-based Tsakos Energy Navigation has agreed charter contracts for two of its product tankers.

The 3-year charter deals, with an undisclosed oil company, are expected to generate USD 33 million of gross revenues and up to USD 60 million in potential maximum revenues.

“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,” George Saroglou, COO of TEN commented.

The company expects 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, Saroglou explained.

“TEN is positioning itself appropriately to benefit from this unfolding positive freight environment,” he concluded.

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