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TEN trims losses in second quarter

TEN’s heavy preference for time chartering its fleet has shielded it from the worst of the industry’s recent pain and this was evident again in the second quarter as earnings from its 62 tankers outperformed spot market rates by more than 100%. A significant amount of the company’s capacity is already employed over the next two years and looking ahead the owner is confident of a tanker market recovery

Athens-based owner says its heavily time-chartered tanker fleet beat spot rates by more than 100%

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