TEN Successfully Takes Delivery Of 15th Ice-Class Aframax Tanker 'Bergen TS'

TEN, Ltd. (TEN) (the “Company”) today reported the delivery of the ice-class Aframax tanker Bergen TS, the last in the 15 vessels, pre-employed on long-term business, growth program, which increased the size of TEN’s fleet by 30% over the last 18 months. With 65 vessels fully operational, the fleet’s minimum revenue backlog comes to $1.3 billion with an average contract duration of 2.5 years.

“With the largest growth in the Company’s history, successfully and timely completed, TEN is well positioned to take advantage of market opportunities as they will appear,” Mr. Nikolas P. Tsakos, President & CEO of TEN stated. “The fully employed renewal program is expected to significantly contribute to TEN’s bottom line and solidify the fleet’s income visibility and cash generation from now and into the future,” Mr. Tsakos concluded.

#	Vessel Name	Type	Dwt	Delivery	Status	LT Contracts
1	Ulysses	VLCC	300,000	May 2016	Delivered	Yes
2	Elias Tsakos	Aframax	112,700	June 2016	Delivered	Yes
3	Thomas Zafiras	Aframax	112,700	Aug 2016	Delivered	Yes
4	Leontios H	Aframax	112,700	Oct 2016	Delivered	Yes
5	Parthenon TS	Aframax	112,700	Nov 2016	Delivered	Yes
6	Sunray	Panamax LR1	74,200	Aug 2016	Delivered	Yes
7	Sunrise	Panamax LR1	74,200	Sep 2016	Delivered	Yes
8	Maria Energy	LNG	93,616	Oct 2016	Delivered	Yes
9	Hercules I	VLCC	300,000	Jan 2017	Delivered	Yes
10	Marathon TS	Aframax	112,700	Feb 2017	Delivered	Yes
11	Lisboa	DP2 Shuttle	157,000	Mar 2017	Delivered	Yes
12	Sola TS	Aframax	112,700	Apr 2017	Delivered	Yes
13	Oslo TS	Aframax	112,700	May 2017	Delivered	Yes
14	Stavanger TS	Aframax	112,700	July 2017	Delivered	Yes
15	Bergen TS	Aframax	112,700	Oct 2017	Delivered	Yes