TEN, Ltd Delivers First LNG-Powered Aframax Tanker as Part of Green Growth Program
TEN, Ltd, a leading public shipping company, has announced the successful delivery of the first LNG-powered aframax tanker, Njord DF. This vessel marks the beginning of the company’s green growth program, which aims to introduce a total of ten high-spec eco-designed vessels to their fleet over the next ten quarters.
The Njord DF has been built against a long-term employment agreement with a major European state-owned oil concern. The vessel’s introduction is a significant milestone for TEN, as it demonstrates their commitment to environmentally friendly operations and their ability to secure partnerships with globally renowned environmentally sensitive groups.
With the remaining nine vessels expected to be gradually added to TEN’s fleet, the company anticipates gross revenues of $520 million over the project’s lifespan, provided all extension options are exercised.
“We are thrilled and honored to have the opportunity to operate such a high-end green vessel under a long-term employment agreement,” said Mr. George Saroglou, President & COO of TEN. “This selection is a testament to our experience and operational excellence in managing modern vessels and ensuring timely deliveries.”
TEN’s growth program includes the delivery of additional vessels according to shipbuilding contracts. The company’s diversified energy fleet currently consists of 68 double-hull vessels, including LNG carriers, crude tankers, and product tankers.
TEN remains committed to maintaining fleet modernity and transitioning towards greener operations. The second vessel of the same kind is expected to join the fleet in the coming weeks.
For further information, please contact:
Company: Tsakos Energy Navigation, Ltd.
George Saroglou, COO
+30210 94 07 710
Investor Relations / Media: Capital Link, Inc.
Nicolas Bornozis, Markella Kara
+212 661 7566