Tsakos Energy Navigation Announces Three-Year Charters for Double-Hull Newbuilding Panamax Tankers Selecao and Socrates

Tsakos Energy Navigation Limited today announced three-year time- charters for Panamax newbuildings ‘Selecao’ and ‘Socrates’ to a major South American state oil company. The charters are expected to generate gross revenues in excess of $57 million for the Company over the corresponding charter period. The vessels are expected to be delivered in February and March of this year.