Tsakos Energy Charters Two Suezmax Vessels

Tsakos Energy Navigation Ltd, a tanker operator, said Friday it has expanded its long-term strategic alliance with an unnamed US oil company, chartering two suezmax vessels for three years, bringing the relationship to six vessels.

The charters are scheduled to begin in early September upon completion of the current employment of each vessel and contain profit sharing arrangements. “With more than 75% of the fleet in secured employment, resulting to $1.5 billion already in minimum secured revenues and the possibility of generating considerable additional income through profit sharing, we are very confident that TEN will be one of the prime beneficiaries going forward once we enter the seasonally stronger fourth quarter and beyond,” Chief Operating Officer George Saroglou said.

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