TEN announces charter extension for an LNG carrier
TEN, LTD. (NYSE: TNP), a leading diversified tanker operator, 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 ankers, product tankers and LNG carriers (including one LNG newbuilding option), totaling 7.8 million dwt.