$3.5 billion of minimum contracted revenue from 82 vessel pro-forma fleet
16-shuttle tanker fleet making TEN one of the largest shuttle tanker owners in the world
TEN announced the delivery and naming of DP2 suezmax shuttle tanker “Anfield DP” from Samsung Heavy Industries Co., Ltd (“Samsung”) 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 US oil major, with options to extend until the vessel’s 20th year anniversary. The delivery of “Anfield DP” further advances the company’s second phase expansion in the Brazilian offshore space, having established a presence in this “high barriers-to-entry” market since 2012.
The naming ceremony was attended by dignitaries from Greece, South Korea and the USA. Her Excellency, Ms. K. Guilfoyle, the US Ambassador to Greece, named the vessel which hoisted the Greek flag.
With this latest addition, TEN operates seven shuttle tankers on long-term employment, with nine more on order. Minimum gross revenues from the backlog of long-term charters are currently approximately $3.5 billion.
“We welcome another advanced spec shuttle tanker in our fleet. The company continues its tested strategy of divesting its first-generation tankers at very profitable levels while replacing them with high-end specialized tonnage backed by accretive long-term contracts,” Mr. George Saroglou, President & COO of TEN stated. “With a secured revenue backlog of $3.5 billion, supported by blue-chip counterparties, TEN can comfortably continue its growth trajectory and at the same time reward shareholders with healthy dividends,” Mr. Saroglou concluded.
TEN’S CURRENT NEWBUILDING PROGRAM
#
Name
Type
Delivery (exp)
Status
Employment
CONVENTIONAL TANKERS
1
Dr Irene Tsakos
Suezmax – Scrubber Fitted
Q2 2025
DELIVERED
Yes
2
Silia T
Suezmax – Scrubber Fitted
Q4 2025
DELIVERED
Yes
3
Delos T
MR – Scrubber Fitted
Q1 2026
DELIVERED
Yes
4
Dion
MR – Scrubber Fitted
Q1 2026
DELIVERED
Yes
5
Amazona
Panamax LR1 – Scrubber Fitted
Q2 2027
Under Construction
TBA
6
Maya
Panamax LR1 – Scrubber Fitted
Q3 2027
Under Construction
TBA
7
Inca
Panamax LR1 – Scrubber Fitted
Q4 2027
Under Construction
TBA
8
NY Knicks 26
VLCC – Scrubber Fitted
Q4 2027
Under Construction
TBA
9
Chairman DJS
VLCC – Scrubber Fitted
Q1 2028
Under Construction
TBA
10
TBN
VLCC – Scrubber Fitted
Q2 2028
Under Construction
TBA
11
Aztec
Panamax LR1 – Scrubber Fitted
Q3 2028
Under Construction
TBA
12
Andes
Panamax LR1 – Scrubber Fitted
Q3 2028
Under Construction
TBA
SHUTTLE TANKERS
13
Athens 04
DP2 Shuttle Tanker
Q2 2025
DELIVERED
Yes
14
Paris 24
DP2 Shuttle Tanker
Q3 2025
DELIVERED
Yes
15
Anfield DP
DP2 Shuttle Tanker
Q3 2026
DELIVERED
Yes
16
Ariano Suassuna DP
DP2 Shuttle Tanker
Q3 2027
Under Construction
Yes
17
Elza Soares DP
DP2 Shuttle Tanker
Q4 2027
Under Construction
Yes
18
Maria Firmina DP
DP2 Shuttle Tanker
Q1 2028
Under Construction
Yes
19
Carolina de Jesus DP
DP2 Shuttle Tanker
Q2 2028
Under Construction
Yes
20
Ipanemas DP
DP2 Shuttle Tanker
Q3 2028
Under Construction
Yes
21
Maracana DP
DP2 Shuttle Tanker
Q3 2028
Under Construction
Yes
22
Corinithians DP
DP2 Shuttle Tanker
Q4 2028
Under Construction
Yes
23
Severino DP
DP2 Shuttle Tanker
Q4 2028
Under Construction
Yes
24
Dr Socrates DP
DP2 Shuttle Tanker
Q4 2028
Under Construction
Yes
LNG CARRIERS
25
TBN
LNG Carrier
Q3 2028
Under Construction
TBA
26
TBN
LNG Carrier
Q1 2029
Under Construction
TBA
Source: GlobeNewswire
