Tsakos Energy Navigation (TEN) has resurrected the idea for a master limited partnership (MLP) spin-off after expanding its aframax-tanker orderbook to nine vessels this week.
New York-listed TEN, which penned an additional four newbuildings at South Korea’s DSME against long-term contracts with Statoil, says the MLP could be completed by the end of this year.
Nikolas Tsakos, chief executive of the Greek owner, says the nine aframaxes coupled with the company’s shuttle-tanker and LNG assets, would lead to the creation of one of the largest MLPs in shipping.
He
