Dynamic renewal program on schedule
7 of 26 newbuildings successfully delivered & chartered
$3.5 billion in future minimum secured revenues
ATHENS, Greece, Sept. 01, 2026 (GLOBE NEWSWIRE) -- TEN Ltd (NYSE: TEN). Following the recent delivery of the shuttle tanker Anfield from Samsung shipyard in South Korea in late July, TEN announced today 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, purposefully 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 Bermuda 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.
ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Company
Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis /Markella Kara
+212 661 7566
ten@capitallink.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/520d5eb9-7834-4a0f-ad81-eceeae95243d
