Tsakos Energy Navigation (TEN) has extended the charter for one of its two LNG carriers for a minimum of one year at an increased charter rate.
The extension, which starts in the first quarter of 2020 and could potentially be increased up to three years, is expected to generate some $30m of gross revenues.
TEN did not disclose the identity of the counter-party other than describing them as “one of the industry’s top names”.
Its two LNG carriers are the 149,700-cbm Neo Energy (built 2007) and the 174,000-cbm Maria Energy (built 2016).
TradeWinds has previously reported that the first ship is fixed to LNG giant Shell, while the second ship is said to be fixed to Cheniere Energy.
“We are delighted to continue the employment of our LNG carrier to one of the industry’s top names which highlights TEN’s operational capabilities in this highly demanding sector,” said TEN chief operating officer George Saroglou.
“The LNG sector continues to be an area of increasing interest to us and the recent newbuilding order is a testament to that.”
In August TradeWinds reported that TEN had ordered up to two vessels at South Korea's Hyundai Heavy Industries.
Newbuilding sources said it had firmed up an order for a lone LNG carrier at its favoured shipbuilder and penciled in an option for a second vessel.
