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TEN's total future secured revenues are now in the region of $3.7 billion
Tanker market fundamentals remain strong
ATHENS, Greece, June 12, 2025 (GLOBE NEWSWIRE) -- TEN Ltd. (NYSE:TEN) ("TEN" or the "Company"), a leading diversified crude, product and LNG tanker operator, today announced the delivery of the eco-friendly scrubber-fitted suezmax tanker Dr Irene Tsakos and the naming of her sister vessel, Silia T, from HD Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea. The Silia T is expected to be delivered during the third quarter of 2025.
The Dr Irene Tsakos and Silia T have secured long-term charters with leading European and US energy majors for a period of five and three years, respectively. The latter is followed by options to extend its employment to a total of nine years, boosting the Company's total revenue backlog to approximately $3.7 billion.
With the delivery of the Dr Irene Tsakos, TEN now has 19 vessels under construction, scheduled for delivery between the third quarter of 2025 and the fourth quarter of 2028. With this, TEN's orderbook now includes 11 shuttle tankers, one suezmax crude carrier and seven product tankers (2 MR and 5 Panamax). The Company's proforma fleet currently consists of 82 vessels, 63 of which are in the water.
Posted In: TEN
