The charters will begin in October 2008 and November 2008, respectively, for the Maria Princess and the Nikkon Princess. The fixed rate is more than twice the vessels’ anticipated all-in break even rate.
Upon termination of these short-term charters, the vessels will be redelivered to their usual trading area, the Atlantic-Mediterranean region, where they are expected to enter the spot market.
Nikolas Tsakos, president and CEO of Tsakos Energy Navigation, said: The delivery of these two crude tankers will further augment our presence in the aframax segment and will simultaneously increase our exposure in the spot market which should reflect positively on our bottom line.
