https://splash247.com/tsakos-signs-for-lr1-newbuilds-at-two-chinese-yards/

Greek shipping company Tsakos Energy Navigation (TEN) has confirmed the acquisition of five new LR1 tankers, solidifying its fleet expansion strategy. The New York-listed firm has finalized contracts for four 75,000 dwt newbuilds with New Times Shipbuilding and one with Yangzijiang Shipbuilding, according to industry brokers.The new orders follow TEN's previous announcement of "firm discussions" with Far Eastern yards earlier this year. Each of the scrubber-fitted vessels is priced at approximately $55 million, with deliveries scheduled for 2027 and 2028.

This latest order enhances TEN's newbuilding program, bringing the total number of ships under construction to 12. Besides the five LR1 tankers, the program includes three shuttle tankers, two suezmax vessels, and two MR product tankers. The diversified newbuilding portfolio underscores TEN’s commitment to modernizing its fleet and meeting evolving industry standards.The expansion comes amid a favorable market outlook for the tanker segment, driven by robust demand for oil transportation and stricter environmental regulations necessitating modern, fuel-efficient vessels. With this significant investment, TEN aims to bolster its market position and offer advanced, eco-friendly shipping solutions to its global clients.

https://splash247.com/ten-books-shuttle-tanker-newbuild-in-south-korea/

TEN books shuttle tanker newbuild in South Korea - Splash247

Greek shipping company Tsakos Energy Navigation (TEN) has placed an order for a new shuttle tanker at Samsung Heavy Industries, marking its return to the South Korean shipyard. The order, valued at $149 million, was revealed in a regulatory filing on Monday. The 154,400 deadweight tonnage (dwt) vessel comes with an option for a second one and is supported by a long-term charter agreement with ExxonMobil.

This move follows an earlier commitment by the US supermajor to reserve up to four slots for shuttle tanker newbuilds at Samsung Heavy Industries. The first pair of 150,000 dwt vessels from this reservation is scheduled for delivery in June and December 2027.

 

TEN's latest order adds to its growing list of newbuilding projects, bringing the total to seven. The vessel from Samsung Heavy Industries is expected to be delivered by the end of August 2026, adding to two other shuttle tankers set for delivery in 2025.