TEN enriches its fleet portfolio with five eco-friendly tankers

Greek shipping company Tsakos Energy Navigation (TEN) has ordered five environmentally friendly tankers from Norwegian shipowner Viken Crude AS.

Illustration; Credit: TEN

As informed, the vessels in question are 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, according to TEN.

The purchase is part of TEN’s fleet expansion plans. Last year, the company placed orders for the construction of two scrubber-fitted environmentally designed Suezmax tankers in South Korea. The tankers are expected for delivery in 2025.

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Meanwhile, the Greek shipowner welcomed its first newbuild LNG-powered Aframax tanker. Last month, tankers Chios DF and Ithaki DF joined the fleet, marking the completion of program of four eco-designed tankers.

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With this latest 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.

“Following the sale of 9 first generation vessels in the last 12 months and having initiated our LNG powered tanker renewal program, we are delighted to acquire this modern eco fleet and underscore TEN’s commitment to operate environmentally friendly vessels to meet the increasing demands of our blue-chip clientele,” George Saroglou, President & COO of TEN commented.

“With 11 vessels now joining TEN going forward, including the six under construction, the revenue growth capacity of the fleet and its expected impact to the bottom line, is materially enhanced,” Saroglou concluded.