TEN extends LNG carrier charter

Greek independent shipping company Tsakos Energy Navigation has extended the charter agreement for one of its LNG carriers for a minimum one-maximum three-year period. 

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

“We are delighted to continue the employment of our LNG carrier to one of the industry’s top names which highlights TEN’s operational capabilities in this highly demanding sector,” George Saroglou, COO of TEN stated.

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

TEN’s 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.