U.S. Markets closed

REMINDER: Today, January 26th, 2016 CEOs of Euronav, Frontline & Tsakos Energy Navigation to Discuss Developments & Outlook of the Tanker Shipping Sector

NEW YORK, NY--(Marketwired - Jan 26, 2016) - Capital Link Shipping announces that the Senior Management of:

Euronav NV (NYSE: EURN) (EURN), Mr. Paddy Rodgers, CEO
Frontline Ltd (NYSE: FRO) (OSE: FRO), Mr. Robert Hvide Macleod, CEO
Tsakos Energy Navigation Ltd. (NYSE: TNP), Dr. Nikolas P. Tsakos, President & CEO

will participate in a Webinar Panel discussion on the Tanker Shipping sector on Tuesday, January 26th, 2016 at 11:00 am EST (4:00 pm London, 5:00 pm Paris, 11:00 pm Hong Kong). The panel discussion will focus mainly on the trends, developments and outlook of the crude oil tanker shipping sector.

The discussion will be moderated by Mr. Michael Webber, Senior Analyst, Director Shipping, Equipment Leasing & Marine MLPs Equity Research at Wells Fargo Securities, LLC

The Tanker Shipping Forum Webinar is organized by Capital Link, a New York-based Investor Relations and Financial Communications firm with strategic focus on shipping.

The panel discussion can be accessed only through a live audio webcast at www.CapitalLinkWebinars.com or at Capital Link's Shipping Website www.CapitalLinkShipping.com.

Alternatively, participants can click on the link below or copy and paste it in your browser to gain direct access to the webinar:

Participants to the live webcast should register on the website approximately ten minutes prior to the start of the webcast. Please go to the above indicate websites to register and access the event.

After the event, the panel discussion will remain archived and accessible upon demand through the same websites indicated above.

The focus of the discussion (and the Q&A) will be only on sector trends and fundamentals, and not on company specifics or company recommendations. The discussion will cover mainly four topics:

  • the development of the global crude oil market and the effect of lower oil prices on tanker shipping;

  • tanker demand and supply;

  • freight rates and asset values;

  • valuations, focusing on current trends and the sector's outlook.

The discussion will focus primarily on the crude oil shipping sector.

Participants can submit questions to the panelists prior to or during the event through the special feature on the event page, or they can email them to us at questions@CapitalLinkWebinars.com.

A transcript of the panel discussion will be publicly available at no cost within approximately 48 hours after the event and those interested can request it when they register for the event or afterwards through the event page at websites indicated.

A principal function of the tanker sector is to transport crude oil from oil production and export facilities to oil terminals, storage facilities, pipeline systems and oil refineries internationally (Crude Oil Tankers). In addition, tankers are also involved in the carriage of refined petroleum products, such as gasoline, diesel, jet fuel and naphtha, from refineries to storage and distribution systems, industrial plants and other consumers (Product Tankers). Tankers generally are a more cost-effective alternative to pipelines and their advantages increase over distance. Pipelines are also considered to be more vulnerable to political instability, sabotage, economic blockade and the risk of environmental disaster.

There are two principal types of providers of international seaborne transportation services for crude oil and refined petroleum products: independent shipowners and end users, such as oil, energy, petrochemical and trading companies (both private and state-owned). Tonnage controlled by end users is primarily chartered from independent shipowners under short-term spot market contracts and long-term time charters, with the balance being directly owned. The prices for transporting crude oil and refined petroleum products, which are referred to as tanker charter rates, are set in highly competitive markets in which both independent and end-user tonnage participate.

Vessels in the tanker fleet can be divided into categories based on their size in deadweight tons, or dwt, which is a vessel's capacity for cargo, fuel, oil, stores and crew measured in metric tons (1,000 kilograms). The following are the main categories of tankers based on dwt: (1) Very Large Crude Carriers (VLCCs) -- tankers with capacity of 200,000 dwt and over; (2) Suezmax tankers -- tankers with capacity ranging from 120,000 to 200,000 dwt; (3) Aframax tankers -- tankers with capacity ranging from 80,000 to 120,000 dwt; (4) Panamax tankers -- tankers with capacity ranging from 60,000 to 80,000 dwt; (5) Medium Range tankers (MR) -- tankers with capacity ranging from 25,000 to 60,000 dwt, and (6) Small tankers -- tankers with capacity up to 26,999 dwt. A 300,000 dwt tanker can carry 2 million barrels of crude oil, while a Suezmax can carry about 1million barrels and an Aframax between up to about 800,000 barrels.

Tankers that transport refined petroleum products are referred to as products tankers. Products tankers generally range in size from 10,000 to 80,000 dwt, although there are some larger products tankers designed for niche long-haul trades, such as from the Middle East to Japan, Korea and South East Asia. Products tankers generally have cargo-handling systems that are designed to transport several different grades of refined petroleum products simultaneously. These systems include coated cargo tanks that facilitate cleaning between voyages involving different cargoes.

Ice Class tankers are vessels that have been constructed (in compliance with Finnish-Swedish Ice Class Rules) with strengthened hulls, a sufficient level of propulsive power for transit through ice-covered routes and specialized machinery and equipment for cold climates.

Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil and petroleum products. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol "EURN". Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav's owned and operated fleet consists of 56 double hulled vessels being one V-Plus vessel, 28 VLCCs (of which 1 in 50%-50% joint venture), three VLCCs under construction which were recently acquired as resales of existing newbuilding contracts, 22 Suezmaxes (of which four are owned in 50%-50% joint ventures) and two FSO vessels (both owned in 50%-50% joint venture). The Company's vessels mainly fly Belgian, Greek, French and Marshall Island flags.

Frontline Ltd. (the "Company") is a world leader in the seaborne transportation of crude oil and refined products. The Company's diversified fleet of vessels within the VLCC, Suezmax, Aframax/LR2, and MR segments is the largest among U.S. listed tanker companies by carrying capacity. Due to Frontline's brand, financial flexibility, and significant scale, it holds a unique position among its peers. The Company has a long history of executing strategic transactions and returning value to shareholders through dividends and spin-offs. Frontline is listed on both the New York and Oslo Stock Exchanges under the symbol "FRO."

To date, TEN's fleet, including two VLCCs, an LNG carrier, nine Aframax crude oil tankers, a Suezmax DP2 shuttle tanker and two LR1 tankers all under construction, consists of 65 double-hull vessels, a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 47 vessels trade in crude, 13 in products, three are shuttle tankers and two are LNG carriers. In addition, TEN has an option to construct another Suezmax DP2 shuttle tanker. All of TEN's tanker newbuildings except the two VLCCs and the LNG carrier Maria Energy are fixed on long-term project businesses. TEN is listed on the New York Stock Exchange under the ticker symbol "TNP".

Capital Link is an Advisory, Investor Relations and Financial Communications firm with strategic focus, among other, on the maritime industry working with the many sector companies listed on the U.S. and European Exchanges. Capital Link's headquarters are in New York with a presence in London, Athens and Oslo. It is a member of the Baltic Exchange. In our effort to enhance the information flow to the investment community and improve investor knowledge of shipping, Capital Link has undertaken a series of initiatives beyond the traditional scope of our investor relations activity through our websites, weekly newsletters, webinars, investor forums in New York, London, Athens and Shanghai, and the Capital Link Maritime Indices.