Tsakos Energy Navigation Limited yesterday announced the sale of the 1991-built aframax tanker Vergina II to third party owners. Vergina II, sister vessel of Victory III sold earlier in 2010, will be delivered to its new owners by the end of this month and will
release approximately $1.8 million in free cash after repayment of outstanding debt.
"The Vergina II has served the Company well and played a significant role in the Company's development for over 15 years," stated Mr. George Saroglou, Chief Operating Officer of TEN. "With this sale, the average age of our aframax fleet improves significantly with vessels built in 2006 now constituting the older tonnage in that particular segment," Mr. Saroglou concluded.
Source: Tsakos Energy Navigation Limited
