Seeking Alpha

Tsakos, Statoil in crude tanker construction and chartering deal

  • Tsakos Energy (TNP +1.7%) announces a strategic partnership with Statoil (STO -0.9%) for the construction and chartering of 5-9 purpose-built Daewoo Aframax crude tankers with a contract term of 5-12 years including options.
  • Gross revenues from the project are expected to range between minimum of $250M up to $1B.
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