New York-listed Tsakos says the strategic partnership with the Norwegian energy company will see it construct five firm tankers at DSME, with options potentially taking it to nine ships.
In a statement to investors the Greek owner said the charters will run for between five and 12 years.
This translates to income of between $250m and $1bn for TEN.
Chief executive Nikolas Tsakos said in the statement the transaction allowed the company to modernize and grow the fleet responsibly.
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