TEN, Ltd Announces New Charters for Two LNG Vessels

TEN, Ltd. announced new charters for two LNG carriers, the Neo Energy and the Maria Energy to significant international energy concerns for an aggregate period of 36 months. The total gross revenues from these two fixtures, over the duration of the respective contacts, is expected at about $60 million.

“LNG is on top of the agenda for TEN’s diversified energy fleet. With two vessels fixed on accretive medium-term charters, the Company is examining further expansion in the sector,” Mr. George Saroglou, COO of TEN commented. “TEN’s model provides its clients with a broad range of vessel types, ranging from crude and product tankers to gas carriers. At the same time this diversity allows TEN to choose the best investment opportunities for growth,” Mr. Saroglou concluded.

TEN, founded in 1993 and celebrating this year 26 years as a public company, is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 68 double-hull vessels, including two aframax and two suezmax tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.5 million dwt. Of the proforma fleet today, 48 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers.