TEN boosts its fleet with six eco-friendly ships

May 20, 2024, by Fatima Bahtić

Greek shipping company Tsakos Energy Navigation (TEN) has welcomed six environmentally friendly ships since the beginning of 2024.

As informed, the company first took delivery of three ships, the liquified natural gas (LNG) dual-fuel LR2 product tankers Ithaki DF, Chios DF and DF Montmartre. Following these deliveries, three more ships joined the company’s fleet.

The ships in question are 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 the present owners.

All these vessels are employed on time-charter contracts, with expected minimum gross revenues in excess of $200 million, TEN stated.

“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,” George Saroglou, President & COO of TEN commented.

TEN’s diversified energy fleet currently consists of 75 vessels, including three DP2 shuttle tankers, two scrubber-fitted Suezmax vessels and two scrubber-fitted MR product tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carries.

The company has eight new vessels currently on order, with scheduled delivery from 2025 until 2027.