Athens, Greece – May 16, 2024 -TEN, Ltd (NYSE: TNP) (the “Company”) announces that
following the delivery of three vessels since the beginning of 2024, the Dual-Fuel LNG LR2
product tankers “Ithaki DF”, “Chios DF” and “DF Montmartre”, three more vessels have
recently joined the fleet and consist of the 2023-built Dual-Fuel LNG LR2 product tanker “DF
Mystras”, the 2018-built scrubber fitted 1A Ice Class, Aframax “Alpes”and the 2018-built Super
Eco Suezmax, “Poppy S” which was delivered on May 14, 2024. An additional seventh vessel,
the 2019-built scrubber fitted 1A Ice Class, Aframax “Aspen”, will be delivered by the end of
May upon completion of its special survey currently performed by her present owners.
All these vessels are employed on time-charter contracts with profit-sharing provisions, with
expected minimum gross revenues in excess of $200 million.
“We welcome these environmentally friendly tankers in TEN which bring us closer to our goal
for a full “green” fleet by 2030. These new acquisitions increase TEN’s cash generating prowess
while further deepening its environmental footprint in the ever-evolving energy space,” Mr.
George Saroglou, President & COO of TEN stated. Our “green ship” initiative continues with
eight more vessels currently under construction to join our fleet from next year,” Mr. Saroglou
concluded.