L4 Logistics | Transport Shipping and Logistics News

The fleet consists of six 2005-built MR product tankers and three 2006-built Long Range (LR) Aframax product tankers, all with 1A ice-class designations. Upon delivery, the Artemis will operate in the spot market The remaining five MR tankers are scheduled to be delivered to the Company later this month and the three LR Aframaxes are expected to be delivered during May and June of this year. “We are excited to welcome the first of the nine ice-class product tankers we recently acquired from Western Petroleum S.A. so promptly after the conclusion of the transaction which will be immediately be accretive to our bottom line” stated Mr. Nicholas P. Tsakos, President & Chief Executive Officer of TEN. “We expect to take delivery of an additional 21 vessels over the next eight quarters bringing out total fleet to 51 vessels, including 24 ice-class ships. This will make TEN one of the largest independent ice-class operators in the world.” Mr. Tsakos continued, “As we have stated in the past, fleet diversity and vessel versatility form the backbone of our growth strategy and the introduction of these vessels to our fleet provides our clients with an even wider pool of vessels to choose from to service their needs.” Following the delivery of the six MR product tankers this month, the next newbuildings to join TEN’s fleet will be the 1A 116,000dwt LR Aframax tanker Proteas, and the TEN built 1A 36,660dwt product tanker Antares.  Both deliveries from Hyundai Mipo Dockyard of South Korea are expected at the end of May of this year. ABOUT TSAKOS ENERGY NAVIGATIONTEN’s proforma fleet consists of 51 vessels of 5.3 million dwt. Today, TEN operates a fleet of 29 vessels and will take delivery of an additional six vessels by the beginning of May. Additionally, its newbuilding program is comprised of 16 vessels including LR Aframax product carriers, four Aframax crude transporters, two suezmaxes, six Handysize product carriers, and one LNG representing 1.4 million dwt. The strategy of a balanced diverse fleet is reflected in 24 crude transporters ranging from VLCCs to Aframaxes and 27 product carriers ranging from Aframaxes to handysize; complimented by the first LNG.Source: Press Release