Several sources linked Tsakos Energy Navigation (TEN) to the acquisition of two ships BP Shipping has been trying to sell for months.

TEN has grabbed the 13-year-old 114,800dwt British Merlin and the one year younger British Curlew for US$14.65m each.

TEN registered a third-quarter loss but said in a statement that the company is optimistic about the tanker market amid the strong rebound in rates in the fourth quarter.