Tsakos Energy
Navigation Limited TNP today announced
a three-year time charter extension for the 2007 built, 163,216 dwt,
double hull suezmax tanker, Arctic, with the same charterer, a South
American state oil company. The charter incorporates minimum and
maximum levels and a 50:50 profit split for rates in between. The
minimum gross revenues from this fixture are estimated in the region
of $20.0 million.
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