1. TEN awarded 'Best Deal' for shuttle tanker expansion. 2. TEN's fleet now includes 16 vessels under construction. 3. Current revenue backlog is approximately $3 billion.
FAQ
Why Bullish?
This recognition reflects TEN's industry strength and growing revenue potential, akin to prior awards boosting stock prices.
How important is it?
The award and expansion are significant growth indicators, likely attracting investor interest.
Why Long Term?
TEN’s strategic expansion positions it for sustained revenue growth, mirroring past successful initiatives leading to prolonged market gains.
ATHENS, Greece, Dec. 08, 2025 (GLOBE NEWSWIRE) -- TEN Ltd. (NYSE:TEN) ("TEN" or the "Company"), a leading diversified crude, product and LNG tanker operator, announced today that it has received the ‘Best Deal' Award in recognition of its landmark expansion into the shuttle tanker space. With a pro-forma fleet of 16 vessels, 10 of which are currently being constructed in South Korea, TEN has over the recent past become one of the largest shuttle tanker owners in the world with current revenue backlog of approximately $3.0 billion.
The annual event which took place on December 5, 2025, included a select group of high-caliber industry leaders, executives, and stakeholders. Mr. George Saroglou, President and COO and Mr. Panagiotis Tsakos Jr. accepted the award on behalf of the Company. TEN's counterparties, and its seafarers underscore the collective commitment, dedication, and excellence that define the organization's long-standing industry presence and performance.
ABOUT TEN LTD.
Founded in 1993 and celebrating 32 years as a public company, TEN is one of the first and most established public shipping companies in the world. TEN's diversified energy fleet currently consists of 82 vessels, including ten DP2 shuttle tankers, three VLCCs, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers totaling approx. 11 million dwt.
FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information, please contact:
Company
Tsakos Energy Navigation Ltd. George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis/ Markella Kara
+212 661 7566
ten@capitallink.com
