Tsakos Energy announces charter extension for one MR Tanker, strategic alliance Tsakos Energy Navigation announced the charter extension for a further 12-months of one of its MR tankers to the current charterer, a major Japanese trading house. This fixture has profit-sharing provisions attached and excluding those, the company expects to generate a minimum of $5M in gross revenues over the duration of the contract. Concurrent with this, TEN commenced its strategic partnership with a major European oil major through the chartering of the first of its modern DNA Aframax crude carriers operating, up to now, in the spot market.
Tsakos Energy raises quarterly dividend to 8c per share Tsakos Energy announced the increase of its dividend distributions to holders of its common stock to 8c per quarter or 32c per annum. The new dividend represents a 33% increase from current levels. It is scheduled to commence in Q1 of 2016.