TEN, Ltd Announces 36-Month Market Related Charters for Two Product Tankers
January 08 2019 - 9:10AM
TEN, Ltd (“TEN” or the “Company”) (NYSE:TNP) today announced
36-month long charters with min/max provisions for two product
tankers to a major oil concern. At a minimum, these two fixtures
combined are expected to generate $33.0 million of gross revenues.
“With 2018 finishing on an upbeat note for all
tanker segments, these two fixtures further signify a strong market
for this year which the Company’s employment strategy is designed
to take advantage of,” Mr. George Saroglou, COO of TEN commented.
“We expect the market in 2019 to maintain the strong momentum as a
result of the current supply and demand equilibrium as well as the
anticipated disruptions due to the upcoming IMO 2020 emission
regulations. TEN is positioning itself appropriately to benefit
from this unfolding positive freight environment,” Mr. Saroglou
concluded.
ABOUT TSAKOS ENERGY NAVIGATIONTEN, founded in
1993 and celebrating this year 25 years as a public company, is one
of the first and most established public shipping companies in the
world today. TEN’s diversified energy fleet currently consists of
66 double-hull vessels, including two aframax tankers under
construction, constituting a mix of crude tankers, product tankers
and LNG carriers, totalling 7.5 million dwt. Of the fleet today, 46
vessels trade in crude, 15 in products, three are shuttle tankers
and two are LNG carriers.
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:
CompanyTsakos Energy Navigation
Ltd.George Saroglou COO+30210 94 07 710gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc. Nicolas BornozisPaul Lampoutis +212 661
7566ten@capitallink.com
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