TEN LTD Announces Delivery and Long-Term Charter of Aframax Crude Tanker
October 22 2019 - 9:00AM
TEN, LTD. (NYSE:TNP), a leading crude, product and LNG tanker
operator, today announced the delivery of an aframax tanker, the
first in a series of four advanced technology vessels, built
against long-term contracts to a major US oil concern. The proceeds
in time charter equivalent terms, equate to approximately $200
million over the minimum duration.
“TEN continues its tested policy of enhancing
strategic relationships with major end users,” Mr. George Saroglou,
Chief Operating Officer of TEN stated. “With the charter markets
moving in the right direction and with 37 vessels in the fleet with
the ability to capture the rates upturn, TEN efficiently combines
secured revenue generation and the ability to participate in the
strong freight environment,” Mr. Saroglou concluded.
ABOUT TSAKOS ENERGY NAVIGATIONTEN, a pioneering
energy company, founded in 1993 and celebrating this year 26 years
as a public company, is one of the first and most established
public shipping companies in the world. TEN’s diversified energy
fleet consists of 70 double-hull vessels (pro-forma), constituting
a mix of crude tankers, product tankers and LNG carriers (including
one LNG newbuilding option), totaling 7.8 million dwt.
ABOUT FORWARD-LOOKING
STATEMENTS Except for the historical information contained
herein, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
predicted by such forward-looking statements. TEN undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or
otherwise.
For further information please contact:
Company Tsakos Energy Navigation Ltd.George
Saroglou COO +30210 94 07 710 gsaroglou@tenn.gr
Investor Relations / Media Capital Link, Inc.
Nicolas Bornozis Markella Kara +212 661 7566
ten@capitallink.com
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