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TEN Extends Charter for LNG Carrier at Higher Rate

Greek tanker operator Tsakos Energy Navigation (TEN) has extended a charter contract of one of its LNG carriers at a higher rate.

The charter extension has been agreed with an unnamed company for a period of one to three years.

The new increased rate is set to commence in the first quarter of 2020 and expected to generate around USD 30 million of gross revenues, according to the company.

“We are delighted to continue the employment of our LNG carrier to one of the industry’s top names,” George Saroglou, Chief Operating Officer of TEN said.

“The LNG sector continues to be an area of increasing interest to us and the recent newbuilding order is a testament to that,” Saroglou continued.

TEN has a fleet of 70 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 7.8 million dwt.