TEN Ltd. Announces Delivery and Naming of the Third in a Series of Twelve DP2 Shuttle Tankers Ordered at Samsung Heavy Industries, South Korea

TEN (NYSE:TEN) announced the delivery and naming of the DP2 suezmax shuttle tanker “Anfield DP” from Samsung Heavy Industries in South Korea, the third in a planned series of 12 DP2 shuttle tankers.

Rhea-AI Summary

TEN (NYSE:TEN) announced the delivery and naming of the DP2 suezmax shuttle tanker “Anfield DP” from Samsung Heavy Industries in South Korea, the third in a planned series of 12 DP2 shuttle tankers. The vessel will begin a 10-year employment with a US oil major, with options that could extend employment to its 20th anniversary, supporting TEN’s second-phase expansion in the Brazilian offshore market.

With Anfield DP, TEN now operates seven shuttle tankers on long-term employment, with nine more shuttle newbuildings on order, contributing to a shuttle fleet of 16 vessels and making TEN one of the larger shuttle tanker owners globally. According to TEN, minimum gross revenues from its long-term charter backlog total approximately $3.5 billion. The company’s diversified fleet stands at 82 vessels, including twelve DP2 shuttle tankers and multiple scrubber-fitted crude and product tankers, totaling 10.1 million dwt, alongside an extensive newbuilding program of conventional tankers, additional shuttle tankers and LNG carriers.

Positive

• $3.5 billion minimum gross revenue backlog from long-term charters
• New DP2 shuttle tanker Anfield DP on 10-year employment with US oil major
• Shuttle fleet of 16 vessels positions TEN among largest shuttle owners
• Diversified fleet of 82 vessels totaling 10.1 million dwt
• Seven shuttle tankers on long-term employment, nine additional shuttle newbuildings ordered

Negative

• None.

Argus Jul 24 session

-0.08% close to close Open Argus

Details

News Market Reaction – TEN

On Jul 24, the day this news came out, TEN closed 0.08% below the previous close.

Data tracked by StockTitan Argus for the Jul 24 session.

Market Context

The platform recorded Net Buying across recent insider activity, including 25,000 shares bought and ...

Analysis

The platform recorded Net Buying across recent insider activity, including 25,000 shares bought and 2,490 sold. That context frames the tanker delivery, while the prior common-dividend reaction of -0.98% remains a risk comparison.

Key Figures

Minimum contracted revenue: $3.5 billion Pro-forma fleet: 82 vessels Shuttle tanker fleet: 16 shuttle tankers +5 more

Minimum contracted revenue

$3.5 billion

82-vessel pro-forma fleet

Pro-forma fleet

82 vessels

TEN fleet

Shuttle tanker fleet

16 shuttle tankers

Fleet description

Series size

Third of 12 vessels

DP2 shuttle tankers ordered at Samsung

Initial employment

10-year employment

US oil major charter

Extension period

Until the vessel’s 20th year anniversary

Charter extension options

Operating shuttle tankers

Seven shuttle tankers

On long-term employment

Shuttle tankers on order

Nine shuttle tankers

Fleet status

Historical Context

5 past events · Latest: Jul 02

5 events

1. Jul 02

   Preferred dividend

   24h Move

   +5.7%

   Declared quarterly cash dividend on Series F preferred shares

2. Jul 01

   LNG carrier order

   24h Move

   +5.7%

   Ordered second LNG carrier, expanding the newbuilding program

3. Jun 15

   Common dividend

   24h Move

   -1.0%

   Declared second semi-annual common dividend of $1.00 per share

4. Jun 09

   Annual meeting

   24h Move

   +0.8%

   Held annual meeting with at least 93.8% approval

5. May 21

   Quarterly earnings

   24h Move

   +0.8%

   Reported strong first-quarter results and declared common dividend

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

dp2, suezmax

2 terms

dp2 technical

"delivery and naming of DP2 suezmax shuttle tanker"

DP2 (also known as CRTH2) is a protein on certain immune cells that senses a chemical signal involved in allergic inflammation and helps attract and activate those cells. For investors, DP2 matters because drugs that block this receptor can dial down asthma and other allergic conditions; think of DP2 as a door lock and a drug as a block that prevents inflammatory cells from rushing in, which affects a drug’s clinical and commercial prospects.

suezmax technical

"DP2 suezmax shuttle tanker “Anfield DP”"

Suezmax is the classification for the largest oil tanker size that can pass through the Suez Canal fully loaded; think of it as the biggest truck that still fits down a narrow highway. It matters to investors because ship size influences shipping costs, route choices and supply-chain flexibility — factors that affect oil transport expenses, freight rates and the profitability of energy and shipping companies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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$3.5 billion of minimum contracted revenue from 82 vessel pro-forma fleet

16-shuttle tanker fleet making TEN one of the largest shuttle tanker owners in the world

ATHENS, Greece, July 24, 2026 (GLOBE NEWSWIRE) -- TEN, Ltd (NYSE: TEN) today announced the delivery and naming of DP2 suezmax shuttle tanker “Anfield DP” from Samsung Heavy Industries Co., Ltd (“Samsung”) in South Korea, the third in a series of 12 DP2 shuttle tankers under construction at Samsung. The vessel will commence a 10-year employment to a US oil major, with options to extend until the vessel’s 20th year anniversary. The delivery of “Anfield DP” further advances the company’s second phase expansion in the Brazilian offshore space, having established a presence in this “high barriers-to-entry” market since 2012.

The naming ceremony was attended by dignitaries from Greece, South Korea and the USA. Her Excellency, Ms. K. Guilfoyle, the US Ambassador to Greece, named the vessel which hoisted the Greek flag.

With this latest addition, TEN operates seven shuttle tankers on long-term employment, with nine more on order. Minimum gross revenues from the backlog of long-term charters are currently approximately $3.5 billion.

“We welcome another advanced spec shuttle tanker in our fleet. The company continues its tested strategy of divesting its first-generation tankers at very profitable levels while replacing them with high-end specialized tonnage backed by accretive long-term contracts,” Mr. George Saroglou, President & COO of TEN stated. “With a secured revenue backlog of $3.5 billion, supported by blue-chip counterparties, TEN can comfortably continue its growth trajectory and at the same time reward shareholders with healthy dividends,” Mr. Saroglou concluded.

TEN’s CURRENT NEWBUILDING PROGRAM

#	Name	Type	Delivery (exp)	Status	Employment
CONVENTIONAL TANKERS
1	Dr Irene Tsakos	Suezmax – Scrubber Fitted	Q2 2025	DELIVERED	Yes
2	Silia T	Suezmax – Scrubber Fitted	Q4 2025	DELIVERED	Yes
3	Delos T	MR – Scrubber Fitted	Q1 2026	DELIVERED	Yes
4	Dion	MR – Scrubber Fitted	Q1 2026	DELIVERED	Yes
5	Amazona	Panamax LR1 – Scrubber Fitted	Q2 2027	Under Construction	TBA
6	Maya	Panamax LR1 – Scrubber Fitted	Q3 2027	Under Construction	TBA
7	Inca	Panamax LR1 – Scrubber Fitted	Q4 2027	Under Construction	TBA
8	NY Knicks 26	VLCC – Scrubber Fitted	Q4 2027	Under Construction	TBA
9	Chairman DJS	VLCC – Scrubber Fitted	Q1 2028	Under Construction	TBA
10	TBN	VLCC – Scrubber Fitted	Q2 2028	Under Construction	TBA
11	Aztec	Panamax LR1 – Scrubber Fitted	Q3 2028	Under Construction	TBA
12	Andes	Panamax LR1 – Scrubber Fitted	Q3 2028	Under Construction	TBA
SHUTTLE TANKERS
13	Athens 04	DP2 Shuttle Tanker	Q2 2025	DELIVERED	Yes
14	Paris 24	DP2 Shuttle Tanker	Q3 2025	DELIVERED	Yes
15	Anfield DP	DP2 Shuttle Tanker	Q3 2026	DELIVERED	Yes
16	Ariano Suassuna DP	DP2 Shuttle Tanker	Q3 2027	Under Construction	Yes
17	Elza Soares DP	DP2 Shuttle Tanker	Q4 2027	Under Construction	Yes
18	Maria Firmina DP	DP2 Shuttle Tanker	Q1 2028	Under Construction	Yes
19	Carolina de Jesus DP	DP2 Shuttle Tanker	Q2 2028	Under Construction	Yes
20	Ipanemas DP	DP2 Shuttle Tanker	Q3 2028	Under Construction	Yes
21	Maracana DP	DP2 Shuttle Tanker	Q3 2028	Under Construction	Yes
22	Corinithians DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
23	Severino DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
24	Dr Socrates DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
LNG CARRIERS
25	TBN	LNG Carrier	Q3 2028	Under Construction	TBA
26	TBN	LNG Carrier	Q1 2029	Under Construction	TBA

ABOUT TSAKOS ENERGY NAVIGATION
TEN, founded in 1993 and celebrating this year 33-years as a public company, 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 twelve DP2 shuttle tankers, two scrubber-fitted suezmax vessels, 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 10.1 million dwt.

ABOUT 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 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a5a51003-9ab8-4858-a2b6-399aa574fbe6

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did TEN (NYSE:TEN) announce on July 24, 2026 about the Anfield DP shuttle tanker?

TEN announced the delivery and naming of the DP2 suezmax shuttle tanker Anfield DP from Samsung. According to TEN, Anfield DP is the third in a 12-vessel DP2 shuttle series and will operate under long-term employment for a US oil major.

How long is the employment contract for TEN's Anfield DP shuttle tanker (NYSE:TEN)?

Anfield DP will commence a 10-year employment with a US oil major. According to TEN, the contract includes options that can extend the vessel’s employment up to its 20th year, providing long-duration cash flow visibility from this DP2 suezmax shuttle tanker.

What is TEN's contracted revenue backlog and fleet size as of July 2026 (NYSE:TEN)?

TEN reports minimum gross revenues of approximately $3.5 billion from its long-term charter backlog. According to TEN, the diversified fleet currently consists of 82 vessels totaling about 10.1 million dwt, including crude tankers, product tankers, LNG carriers and DP2 shuttle tankers.

How many DP2 shuttle tankers does TEN operate or have on order (NYSE:TEN)?

TEN operates seven shuttle tankers on long-term employment and has nine additional DP2 shuttle tankers on order. According to TEN, this 16-vessel shuttle fleet makes the company one of the larger shuttle tanker owners in the global offshore market.

What vessels are included in TEN's current newbuilding program (NYSE:TEN)?

TEN’s newbuilding program covers conventional tankers, DP2 shuttle tankers and LNG carriers with staggered deliveries through 2029. According to TEN, the list includes scrubber-fitted suezmax, MR, LR1 and VLCC tankers, nine shuttle tankers under construction, and two LNG carriers.

How does the Anfield DP delivery support TEN's Brazilian offshore expansion (NYSE:TEN)?

The Anfield DP delivery advances TEN’s second-phase expansion in the Brazilian offshore shuttle tanker market. According to TEN, the company has operated in this high-barriers-to-entry region since 2012, and the new DP2 suezmax shuttle further strengthens its contracted presence with long-term employment.