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Tsakos Energy Navigation announces three year charter extensions for tanker Euronike |
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Tsakos Energy Navigation Ltd. announced a three-year charter extension for its 2005-built double-hull 1C ice class Suezmax tanker Euronike to a large independent United States refiner, who has employed the vessel for the past twelve months since her delivery from the shipyard.
The charter rate for the extension compares favourably to rates for similar duration charters for similar modern tonnage in the market. Gross revenues for this vessel are expected to exceed $40 million over the corresponding charter period.
“We continue to improve our bottom line through advantageous and quality chartering,” stated Mr. Nikolas P. Tsakos, President and Chief Executive Officer of TEN. “We are particularly pleased to extend this charter for a longer duration with the existing charterer as it further highlights our strategy to establish long and lasting relationships with major end-users. The healthy rate attained provides an equity return substantially above the company’s target and indicates a continued strength in prevailing market rates. We remain confident that with the quality of our fleet, our vessels will continue to attract strong demand in the chartering market going forward.”
Source: Press Release
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