Tsakos Energy Navigation released attractive rates for its new charters concerning both tankers and LNG carriers.
For example, the LNG carrier “Neo Energy” (capacity 150,000 cubic meters and built in 2007) was chartered until March 2023 at a price of $37,000 per day. Now, the ship is chartered for $115,000 per day until February 2024. There is also an option for a one-year extension of the charter to $100,000 per day.
At the same time, the aframax type tanker “Maria Princess” (capacity 105,346 dwt and built in 2008) was chartered until July 2024 at a price of $46,500 per day compared with $22,500 per day chartered until August 2023.
Another aframax, ‘Sapporo Princess’ (105,354 dwt and built 2010), moved from spot market to time charter until May 2024 for $50,000 per day.
In the smaller tankers, the panamax product tanker “World Harmony” (74,200 dwt and built 2009), which was chartered until May 2023, at a minimum of $13,000 per day and a maximum of $24,000 per day, was chartered until April 2025 with a freight rate of between $25,500 and $44,000 per day.
A corresponding rise in revenue was also seen for a tanker of approximately the same specifications named “Chantal”.
The listed company’s current fleet consists of 58 ships, of which 55 are tankers and three are LNG carriers.
At the same time, the shipping company is running a shipbuilding program for eight more ships, all tankers. The total tonnage of the fleet, including units under construction, exceeds 8.2 million dwt.
The activity of Tsakos Energy Navigation in two markets with high freight rates significantly increased its profits.
Most shipping analysts expect a continuation of this upward trend in economic volumes in the second quarter as well, driven by long-term and attractive charters.
