The New York-listed shipowner with a pro-forma energy fleet of 81 vessels, Tsakos Energy Navigation (TEN), has announced on Tuesday the sale of two first-generation suezmax tankers.
Following the recent delivery of the shuttle tanker Anfield from Samsung shipyard in South Korea in late July, TEN announced the sale of two 2006-built suezmax tankers.
According to TEN, the transaction will release in excess of $100m to the company’s cash reserves.
TEN said seven of the 26 newbuildings have already been delivered and chartered.
“In line with our stated policy of maintaining the modernity and diversity of our fleet, as evident by the 26 vessel newbuilding program currently in effect, of which seven have already been delivered, we continue to monetize the equity value of our first-generation vessels,” said George Saroglou, president and chief operating officer of TEN.
“These vessels, purposely built 20 years ago by TEN for its client’s requirements, have been great contributors to the company’s success,” he added.
Founded in Bermuda in 1993 and celebrating 33 years as a public company, 24 of which on the New York stock exchange, TEN has a diversified pro-forma energy fleet of 81 vessels, totalling approximately 10.5 million dwt.
