Tsakos, Statoil in crude tanker construction and chartering deal

|About: Tsakos Energy Navigation Li... (TNP)|By:, SA News Editor

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.