{
  "id": 6646572,
  "title": "TEN, Ltd. Reports Skyrocketing Results For the First Half and Second Quarter of 2026",
  "url": "https://urgent.news/2026/09/10/ten-ltd-reports-skyrocketing-results-for-the-first-half-and-second",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T21:00:57.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/ten-ltd-reports-skyrocketing-results-for-the-first-half-and-second-quarter-of-2026-2/"
  },
  "original_language": "en",
  "account": "TEN, Ltd. announced impressive financial results for the first six months and second quarter of 2026. The company's fleet generated record gross revenues of $551.4 million, marking a significant increase of $161.0 million compared to the same period in 2025. Adjusted EBITDA reached approximately $324.1 million, up from $193.2 million a year earlier. Net income amounted to $228.1 million for the first half of 2026, including $38 million in capital gains, resulting in $7.12 per share from $1.70 per share in 2025. The company's fleet utilization remained steady at 96.5%. Average TCE per vessel per day rose to $43,503, a 41% increase, driven by strong tanker market conditions. Fleet operating expenses increased modestly to $111.0 million, primarily due to scheduled drydocking for six vessels. Total operating expenses per vessel per day remained competitive at $10,298. Depreciation and amortization totaled $90.4 million due to the company's newer and larger vessel fleet. As of June 30, 2026, TEN's total bank debt was $2.0 billion, reflecting growth in fleet size. Cash balances increased to $466.1 million, $168.0 million higher than at the end of December 2025. Interest and finance costs decreased to $43.4 million, $5.6 million lower than the first half of 2025, thanks to lower spreads and global interest rates. Dividends were distributed to shareholders, totaling $1.50 per share for the year 2026. The company continues to focus on its fleet renewal strategy, divesting older vessels like the 2016-built VLCC Ulysses and two 2006-built suezmax tankers, while securing long-term employment for new builds.",
  "summary": "TEN, Ltd. reported results (unaudited) for the six months and the second quarter ended June 30, 2026. FIRST HALF 2026 SUMMARY RESULTS TEN’s fleet generated record gross revenues of $551.4 million, an increase of $161.0 million compared to the first half of 2025. Adjusted EBITDA for the first half of 2026 was at approximately $324.1 ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Hellenic Shipping News",
        "title": "TEN, Ltd. Reports Skyrocketing Results For the First Half and Second Quarter of 2026",
        "url": "https://urgent.news/2026/09/10/ten-ltd-reports-skyrocketing-results-for-the-first-half-and-second-6646573",
        "published": "2026-09-10T21:00:57.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}