US-listed Tsakos Energy Navigation (TEN) has boosted its liquidity by selling what was once one of the biggest product tankers in the world.
The 117,000-dwt LR2/aframax Proteas (built 2006) will add $7.1m in free cash to the Greek owner’s bank balance, after repayment of related debt.
This will be booked in the second quarter.
The vessel has been sold to unrelated entities, TEN said.
