The gross revenues from this four-vessel industrial program are expected to reach $520 million
TEN, Ltd (TEN) took the delivery of the LNG powered Aframax tanker, Njord DF, the first in a series of four high-spec eco designed vessels built against long-term employment to a major European state-owned oil concern, the Company said.
The introduction of this vessel kickstarts the delivery of the Company’s existing green growth program with now nine remaining vessels expected to be gradually introduced to TEN’s fleet over the next ten quarters.
The gross revenues from this four-vessel industrial program are expected to reach $520 million should all extension options get exercised.
TEN, founded in 1993 and celebrating this year 30 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 four dual-fuel LNG powered Aframax vessels, two DP2 shuttle tankers, two scrubber-fitted suezmax vessels and two scrubber-fitted MR product tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totaling 8.4 million dwt.