TEN LTD Announces Charter Extension for LNG Carrier
December 05 2019 - 10:32AM
TEN, LTD. (NYSE: TNP), a leading diversified tanker operator, today
announced the extension of 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.
“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,”
Mr. George Saroglou, Chief Operating Officer 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. TEN’s
diversified fleet of crude, product, shuttle tankers and LNG
carriers, provides management with the flexibility to choose the
most accretive business in each segment, in today’s strong tanker
market environment,” Mr. Saroglou concluded.
ABOUT TSAKOS ENERGY NAVIGATION
TEN, a pioneering energy company, founded in
1993 and celebrating this year 26 years as a public company, is one
of the first and most established public shipping companies in the
world. TEN’s diversified 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.
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 BornozisMarkella Kara +212 661
7566ten@capitallink.com
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