Tsakos Energy Navigation secures charter extensions for shuttle tankers

Tsakos Energy Navigation (TEN) has agreed to extend employment for two DP2 shuttle tankers for up to five years each, following the conclusion of their current 15-year contracts.

The company stated that these extensions are expected to begin in mid-2028 and will follow the existing charters that originated upon the delivery of the vessels in 2013.

According to TEN, the new agreements are projected to generate gross revenues exceeding $200 million throughout their duration. This contributes to a total minimum fleet revenue backlog of $4 billion, as tanker markets remain at high levels.