20-vessel newbuilding program on schedule

Shuttle tanker Anfield DP to be delivered in July 2026 in South Korea

$3.5 billion in minimum secured revenues

TEN Ltd. (NYSE: TEN) (“TEN” or the “Company”), a leading diversified tanker and LNG operator, announced the order of a second LNG carrier at Hyundai Heavy Industries in South Korea, with expected delivery in the first quarter of 2029.

With this order, TEN’s newbuilding program reaches 20 vessels, the first of which, the Anfield DP, a DP2 Shuttle tanker, is scheduled for delivery in late July 2026 with a minimum 10-year employment to a U.S. oil major, which, through extension options could stretch to 20 years.

“We are delighted to expand our presence in the ever-evolving LNG sector, a market we are actively participating in since 2007. The growing global energy demand fueled by geopolitical developments has increased the need for LNG as an alternative source,” Mr. George Saroglou, TEN’s President & COO stated.

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 83 vessels, in excess of 11 million dwt.

Tsakos Energy Navigation Ltd.press release