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Tsakos Energy Navigation inks time charter contracts

Tsakos Energy Navigation (TEN) has inked four new time charter contracts.

The company said it had bagged time charters of 14 months for an aframax, two panamaxes and an MR product tanker. The latest charters bring TEN’s forward orderbook to $1.4bn.

“The new time charters increase TEN’s fleet under secured revenue employment to 68%. With seven more vessels delivering in 2017, six of which under long term charters, the coverage will well exceed 70%. Responding to our charterers’ appetite, we will be reaching our long term coverage goal well ahead of schedule,” said Nikolas Tsakos, president and ceo of TEN.

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