TEN Ltd. Receives Best Deal of the Year Award at the 2025 Lloyds List Greek Shipping Awards
Rhea-AI Summary
TEN (NYSE: TEN) received the Best Deal Award at the 2025 Lloyds List Greek Shipping Awards for its landmark expansion into the shuttle tanker sector. The company now has a pro-forma fleet of 16 vessels, with 10 vessels under construction in South Korea, and reports a current revenue backlog of approximately $3.0 billion. The award was presented on December 5, 2025, and was accepted by President & COO George Saroglou and Panagiotis Tsakos Jr.
Positive
- Pro-forma fleet of 16 vessels
- 10 vessels currently under construction in South Korea
- Revenue backlog of approximately $3.0 billion
- Industry recognition with Best Deal Award on December 5, 2025
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
Peer moves are mixed: TK up 0.43%, NGL up 1.23%, while NAT and PBT are down 1.38% and
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 20 | Earnings & dividend | Positive | -0.9% | Strong nine-month profits and $1.00 common dividend with fleet expansion plan. |
| Nov 04 | Preferred dividend | Positive | +0.8% | Declared regular quarterly cash dividend on Series E preferred shares. |
| Nov 03 | Earnings call notice | Neutral | -0.4% | Announced timing and access details for Q3 and nine-month 2025 call. |
| Oct 30 | Executive honor | Positive | -0.7% | CEO recognized for maritime industry and philanthropic contributions. |
| Oct 02 | Preferred dividend | Positive | +1.8% | Declared regular quarterly cash dividend on Series F preferred shares. |
Recent dividend and governance announcements have produced relatively modest single-day price moves in both directions, with some positive events seeing slight post-news weakness.
Over the last few months, TEN has focused on shareholder returns and governance while executing on fleet growth. On Nov 20, 2025, it reported nine-month gross revenues of $577 million, net income of $103 million and declared a $1.00 common dividend, alongside a 20-vessel newbuilding program. Regular preferred dividends on Series E and F were maintained, and a new director joined the Board via a 6-K. Today’s award for shuttle tanker expansion fits into this broader narrative of fleet investment and industry recognition.
Market Pulse Summary
This announcement highlights industry recognition for TEN’s shuttle tanker expansion, underpinned by a pro-forma fleet of 16 vessels, including 10 under construction in South Korea, and a stated revenue backlog of $3.0 billion. Set against shares trading above the $19.93 200-day moving average and below the $26.69 52-week high, it reinforces the strategic shift toward shuttle tankers. Investors may watch future disclosures on contract terms, fleet delivery timing, and how backlog converts into reported revenues and earnings.
Jargon Translator
AI-generated analysis. Not financial advice.
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
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
FAQ
What did TEN (NYSE: TEN) win at the 2025 Lloyds List Greek Shipping Awards?
How many vessels does TEN have in its pro-forma fleet as of December 8, 2025?
How many TEN vessels are currently under construction and where are they being built?
What is TEN's reported revenue backlog in the December 8, 2025 announcement?
Who accepted the Best Deal Award on behalf of TEN at the December 5, 2025 event?
Does the December 8, 2025 announcement indicate TEN's position in the shuttle tanker market?
