Dynamic renewal program on schedule 7 of 26 newbuildings successfully delivered & chartered $3.5 billion in future minimum secured revenues
Following the recent delivery of the shuttle tanker Anfield from Samsung shipyard in South Korea in late July, TEN proceeded to the sale of two 2006-built Suezmax tankers. This transaction will release in excess of $100 million to the company’s cash reserves. “In line with our stated policy of maintaining the modernity and diversity of our fleet, as evident by the 26- vessel newbuilding program currently in effect, of which seven have already been delivered, we continue to monetize the equity value of our first-generation vessels. These vessels, purposely built 20 years ago by TEN for its client’s requirements, have been great contributors to the company’s success,” stated Mr. George Saroglou, President of TEN.
ABOUT TEN Ltd.: Founded in 1993 and celebrating 33 years as a public company, 24 of which on the NYSE, TEN is one of the first and most established public shipping companies in the world. TEN's diversified pro-forma energy fleet currently consists of 81 vessels, totaling approx. 10.5 million dwt.
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