{"id":30008,"date":"2022-04-27T22:46:35","date_gmt":"2022-04-27T19:46:35","guid":{"rendered":"https:\/\/www.al-sindbad.net\/ten-pockets-7-1m-in-free-cash-on-16-year-old-rl2\/30008\/"},"modified":"2022-04-27T22:46:35","modified_gmt":"2022-04-27T19:46:35","slug":"ten-pockets-7-1m-in-free-cash-on-16-year-old-rl2","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/ten-pockets-7-1m-in-free-cash-on-16-year-old-rl2\/30008\/","title":{"rendered":"TEN pockets $7.1m in free cash on 16-year-old RL2\u00a0"},"content":{"rendered":"<p><\/p>\n<div class=\"entry-content entry clearfix\">\n<div class=\"mailmunch-forms-before-post\" style=\"display: none !important;\"><\/div>\n<p>Greek owner Tsakos Energy Navigation (TEN) has announced the sale of a 2006-built LR2 aframax tanker to unrelated entities.\u00a0<\/p>\n<p>The sale of what TEN said was one of the largest product tankers in the world at the time of its construction, will generate $7.1m of free cash, after the repayment of related debt to be recorded in the second quarter of 2022. According to VesselsValue data, TEN sold the 117,100 dwt LR2\/aframax<br \/>\n\t\t\t<span style=\"color:#00adeb;\" class=\"mt_tooltip\" data-mturl=\"\/en\/ais\/details\/ships\/shipid:213095\/mmsi:352001369\/vessel:213095\" data-mmsi=\"352001369\" data-imo=\"9305609\" data-dwt=\"117055\" data-yob=\"2006\" data-typename=\"Crude Oil Tanker\" data-typecolor=\"8\" data-countrycode=\"PA\" data-country=\"Panama\" data-info=\"Crude Oil Tanker [PA]\" data-photourl=\"https:\/\/www.al-sindbad.net\/file\/2022\/04\/TEN-pockets-71m-in-free-cash-on-16-year-old-RL2.aspx.jpeg\" data-assetname=\"PROTEAS\" data-assettype=\"Vessel\">Proteas<\/span>, renamed <em>Meline<\/em>, to an unknown Far Eastern buyer for $20m.<\/p>\n<p>\u201cThis timely sale depicts our commitment to our stated \u201cGreenship\u201d initiative as it coincides with the recent order of four dual-fuel aframaxes on long-term employment to a significant end-user. As we continue to explore and evaluate future alternatives, similar transactions should be expected,\u201d commented George Saroglou, COO of TEN.<\/p>\n<div class=\"mailmunch-forms-in-post-middle\" style=\"display: none !important;\"><\/div>\n<p>Founded in 1993, the New York-listed TEN currently has a fleet of 70 vessels. The company\u2019s newbuilding program includes one suezmax shuttle tanker and four dual-fuel LNG-powered aframaxes.<\/p>\n<div class=\"mailmunch-forms-after-post\" style=\"display: none !important;\"><\/div>\n<div class=\"stream-item stream-item-below-post-content\">\n\t    <!-- \/91333190\/SPLASH247_*_Splash247_Article_*_Strip_Slot_*_2 --><\/p>\n<div id=\"div-gpt-ad-1_95_0_1_2\">\n<script>\ngoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); });\n<\/script>\n<\/div>\n<\/p><\/div>\n<div class=\"post-bottom-meta post-bottom-tags post-tags-modern\">\n<div class=\"post-bottom-meta-title\">\n<span class=\"tie-icon-tags\" aria-hidden=\"true\"><\/span> Tags<\/div>\n<p><span class=\"tagcloud\"><a href=\"https:\/\/splash247.com\/tag\/greece\/\" rel=\"tag\">Greece<\/a><\/span>\n<\/div>\n<\/p><\/div>\n<p>splash247<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greek owner Tsakos Energy Navigation (TEN) has announced the sale of a 2006-built LR2 aframax tanker to unrelated entities.\u00a0 The sale of what TEN said was one of the largest product tankers in the world at the time of its construction, will generate $7.1m of free cash, after the repayment of related debt to be &hellip;<\/p>\n","protected":false},"author":1,"featured_media":30009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":["post-30008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tanker-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/30008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=30008"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/30008\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/30009"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=30008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=30008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=30008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}