Tsakos Energy Navigation (TEN) announced that charterers have fixed two of its VLCCs for at least three years.

The US-listed company interpreted the deals as an early sign of a much-awaited recovery in tanker freight rates.

"We are pleased to announce these accretive employments, which reflect the positive signs the tankers markets are beginning to exhibit," TEN chief operating officer George Saroglou said in a statement on Friday.