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.

TEN tanker
Image Credits: dmhi.ct.ro

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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

Reference: tenn.gr

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