TEN Ltd. announces the acquisition of five high-spec environmentally friendly vessels from Norway’s Viken Crude AS, according to the company's release.
The fleet is comprised of two 2023-built Dual-Fuel LNG LR2 aframaxes, one 2019-built super-eco suezmax and two 1A ice-class scrubber-fitted aframaxes built in 2018 and 2019 respectively. The vessels have an average employment of two years with fixed and profit-sharing features totaling over $100 million in minimum gross revenues.
TEN will fund the purchase with cash-at-hand and bank finance. With this acquisition, TEN’s LNG-powered tankers, after the recent delivery of its four-new vessel program, increases to six, its scrubber-fitted vessels to 12, its vessels with ice-class capabilities to 17 and the pro-forma fleet to 72 diversified ships of all categories.
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 72 double-hull vessels, including 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 8.8 million dwt.