TEN (Tsakos Energy Navigation) has capitalized on strong charter rates and favourable long-term employment opportunities to secure new contracts for its vessels, including tankers and LNG carriers, as reported by Splash247.
New charters and extensions
The Greek company, listed on the New York Stock Exchange, announced these new charters and extensions in its Q1 earnings report, resulting in a total contracted revenue of $1.6 billion for its fleet. During the first quarter, TEN achieved a fleet utilization rate of 96.4%, with an average time charter equivalent exceeding $41,882 per day, more than double compared to the same period last year. With a fleet of 67 ships, including those under construction, TEN is set to commemorate its 30th year as a publicly traded company in October. Notably, the company recorded a record-breaking profit of $177 million in the first quarter, a significant increase from the $5.5 million profit reported in the same period in 2022.
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Source: Splash247
