TEN Ltd. Announces Sale of Two First-Generation Suezmax Tankers
Following the recent delivery of the shuttle tanker Anfield from Samsung shipyard in South Korea in late July, TEN announced today the sale of two 2006-built Suezmax tankers. This transaction will release in excess of $100 million to the company’s cash reserves. “In line with our stated policy of maintaining the modernity and diversity of ...
TEN Ltd., a leading public shipping company, has announced the sale of two first-generation Suezmax tankers. The decision was made in conjunction with the delivery of the shuttle tanker Anfield from Samsung Shipyard in South Korea in late July. This move is expected to generate over $100 million for the company's cash reserves. TEN, established in Bermuda in 1993, is one of the oldest and most established shipping firms globally.
The company's fleet currently comprises 81 vessels, with a combined deadweight tonnage of approximately 10.5 million dwt. Mr. George Saroglou, TEN's President, explained that the sale aligns with the company's commitment to maintaining a modern and diversified fleet, as demonstrated by their ongoing 26-vessel newbuilding program, of which seven have already been delivered.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.