DealsApr 23, 2026, 05:31 PM
TEN Extends 2 Shuttle Tanker Charters for 5 Years, $200M Revenue
AI Summary
TEN Ltd. announced employment extensions for two DP2 shuttle tankers for up to five years each, directly continuing existing charters. These new contracts, set to begin around mid-2028, are projected to generate over $200 million in gross revenues. The company emphasizes its strategy of long-term partnerships with major oil concerns to secure future cash flow growth and shareholder dividends.
Key Highlights
- Two DP2 shuttle tankers received employment extensions.
- Extensions are for up to five years each.
- Expected to generate over $200 million in gross revenues.
- New charters commence around mid-2028.
- Existing charters began in 2013.