TEN Ltd. Receives Best Deal of the Year Award at the 2025 Lloyds List Greek Shipping Awards

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.

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.

Argus Dec 9 session

-2.40% close to close Open Argus

Details

News Market Reaction – TEN

On Dec 9, the first trading day after this news, TEN closed 2.40% below the previous close.

Data tracked by StockTitan Argus for the Dec 9 session.

Key Figures

Pro-forma shuttle fleet: 16 vessels Vessels under construction: 10 vessels Revenue backlog: $3.0 billion

Pro-forma shuttle fleet

16 vessels

Shuttle tanker fleet size after expansion

Vessels under construction

10 vessels

Shuttle tankers being built in South Korea

Revenue backlog

$3.0 billion

Current revenue backlog linked to shuttle tanker operations

Historical Context

5 past events · Latest: Nov 20

5 events

1. Nov 20

   Earnings & dividend

   24h Move

   -0.9%

   Strong nine-month profits and $1.00 common dividend with fleet expansion plan.

2. Nov 04

   Preferred dividend

   24h Move

   +0.8%

   Declared regular quarterly cash dividend on Series E preferred shares.

3. Nov 03

   Earnings call notice

   24h Move

   -0.4%

   Announced timing and access details for Q3 and nine-month 2025 call.

4. Oct 30

   Executive honor

   24h Move

   -0.7%

   CEO recognized for maritime industry and philanthropic contributions.

5. Oct 02

   Preferred dividend

   24h Move

   +1.8%

   Declared regular quarterly cash dividend on Series F preferred shares.

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

Key Terms

shuttle tanker, lng tanker, revenue backlog

3 terms

shuttle tanker technical

"its landmark expansion into the shuttle tanker space."

A shuttle tanker is a specially equipped ship that carries crude oil from offshore production sites to onshore terminals or other ships when pipelines are unavailable, acting like a large delivery truck for oil at sea. Investors watch shuttle tankers because their earnings depend on long-term transport contracts, oil production levels, and fuel and regulatory costs, so changes in those factors can affect shipping company revenues and fleet valuations.

lng tanker technical

"a leading diversified crude, product and LNG tanker operator,"

A LNG tanker is a large ship built to carry liquefied natural gas, keeping the gas frozen in insulated, very cold tanks so it can be moved safely over long distances. For investors, these vessels matter because they are a key link in the global energy supply chain—their availability, operating costs and regulatory risks can affect fuel prices, shipping company earnings and how reliably gas reaches buyers, similar to how refrigerated trucks enable long-distance food delivery.

revenue backlog financial

"with current revenue backlog of approximately $3.0 billion."

Revenue backlog is the total value of confirmed sales, contracts, or orders that a company has committed to deliver but has not yet recognized as revenue; think of it as a queue of future income the business has already promised to customers. Investors care because backlog shows near-term sales visibility and growth potential—like knowing how many jobs are already scheduled—and it helps assess whether reported results are likely to continue, slow, or be at risk from cancellations or delays.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

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

FAQ

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

What did TEN (NYSE: TEN) win at the 2025 Lloyds List Greek Shipping Awards?

TEN won the Best Deal Award on December 5, 2025 for its shuttle tanker expansion.

How many vessels does TEN have in its pro-forma fleet as of December 8, 2025?

TEN has a pro-forma fleet of 16 vessels.

How many TEN vessels are currently under construction and where are they being built?

10 vessels are under construction in South Korea.

What is TEN's reported revenue backlog in the December 8, 2025 announcement?

TEN reported a current revenue backlog of approximately $3.0 billion.

Who accepted the Best Deal Award on behalf of TEN at the December 5, 2025 event?

The award was accepted by George Saroglou, President & COO and Panagiotis Tsakos Jr.

Does the December 8, 2025 announcement indicate TEN's position in the shuttle tanker market?

The announcement states TEN has become one of the largest shuttle tanker owners in the world based on recent fleet expansion.