Time charter coverage secured for two tankers

Tankerska Next Generation (TNG) has secured two-year employment for one of its conventional ice-class product tankers, the contracted employment is due to commence in March 2020. The tanker will be chartered out to a prominent charterer at approximately USD 15,250 per day under standard market terms and conditions. The charterer has an option to extend the deal, in direct continuation, for the third year at approximately USD 15,750.

Furthermore, by following its proclaimed strategy, TNG has ensured additional time charter coverage for its ECO tanker at USD 16,850 per day for three to six months, with immediate effect.

From today's perspective, we consider the fleet well covered with period business, more so than in the last few years. The achieved employment is thoroughly in line with the company's strategic concept that focuses on the efforts to secure a strong asset base and stable cash flow. By doing so, TNG minimizes the risk of its business operations by emphasizing our time charter position while balancing the remainder of the fleet on voyage charter.