Photo: Illustration; Source: Unsplash/Shaah Shahidh

New Aframax Tanker Joins Tsakos Energy Navigation Fleet

Tanker operator Tsakos Energy Navigation (TEN) has taken delivery of an Aframax tanker, the first in a series of four advanced technology vessels.

The unit was built against long-term charter contract to a major U.S. oil concern.

The shipowner expects around USD 200 million in time-charter equivalent gross earnings over the minimum duration of the deal.

“TEN continues its tested policy of enhancing strategic relationships with major end users,” 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,” Saroglou concluded.