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TEN News
TEN Events
TEN Ltd. Sells Two Suezmax Tankers, Releases Over $100M Cash
TEN Ltd. announced the sale of two 2006-built Suezmax tankers. This transaction will release in excess of $100M to the company's cash reserves.
TEN, Ltd. Delivers Third DP2 Tanker, Expected Revenue of $3.5B
TEN, Ltd. announced the delivery and naming of DP2 suezmax shuttle tanker "Anfield DP" from Samsung Heavy Industries in South Korea, the third in a series of 12 DP2 shuttle tankers under construction at Samsung. The vessel will commence a 10-year employment to a U.S. oil major, with options to extend until the vessel's 20 year anniversary. Minimum gross revenues from the backlog of long-term charters are currently approximately $3.5B.
TEN, Ltd. Files Automatic Mixed Securities Shelf
TEN, Ltd. files automatic mixed securities shelf
TEN Ltd. Orders Second LNG Carrier in South Korea
TEN Ltd. announced the order of a second LNG carrier at Hyundai Heavy Industries in South Korea, with expected delivery in the first quarter of 2029. With this order, TEN's newbuilding program reaches 20 vessels, the first of which, the Anfield DP, a DP2 Shuttle tanker, is scheduled for delivery in late July with a minimum 10-year employment to a U.S. oil major, which, through extension options could stretch to 20 years.
TEN Ltd. Extends Two DP2 Tanker Charters to 2028
TEN Ltd. announced the employment extension for two DP2 shuttle tankers, in direct continuation of the existing charters which commenced at delivery back in 2013, for up to five years each. These new charters are scheduled to come into effect upon expiration of the existing 15-year contracts around mid-2028 and are expected to generate gross revenues in excess of $200M over their duration.
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