Tsakos Energy Navigation Ltd. (TNP) has entered into a 3-year profit sharing charter for the double hull suezmax tanker Arctic.
The Greek sea-based transportation provider said that the charter is expected to generate gross revenue of at least $25 million over the period.
The company also said that it has already secured minimum gross revenue of about $180 million from profit sharing charters for 2010.
Meanwhile, the consensus forecast for the company’s full-year earnings has declined a penny to $1.30 per share over the past month, as 1 of 7 covering analysts lowered expectations.
TNP, a Zacks #3 Rank (“Hold”) stock, has slipped more than 1.5% on volume of approximately 252,000, compared to the average daily volume of about 248,000.
“TNP” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research
