Tsakos Energy Navigation says seven of its panamax tankers will continue their current employment for a roughly two-year stretch.
The panamax tankers are hired by an unidentified state oil concern, and will net the company $70m in gross revenue, according to a release.
“These charters, in terms of duration, security, flexibility and quality, enhance the industrial nature of our business, further solidify our fleet’s cash generating ability, strengthen our balance sheet and provide visibility of earnings and dividends," said TEN chief operating officer.
