Tsakos Energy (TNP) Trades Higher, Gets Charter Extension for 'Nippon Princess'

July 27, 2012 9:47 AM EDT
Tsakos Energy Navigation Limited (NYSE: TNP) is trading higher at the start Friday, up about 1.4 percent, after issuing the following news earlier:

"Tsakos announced a two-year time charter extension for the 2008 built, 105,392 dwt, double hull aframax tanker, Nippon Princess, with the same charterer, a state oil company. The new charter commenced in July 2012. The gross revenues from the extension of this charter are expected to be approximately $14.5 million over the corresponding period."

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