HHI to Deliver New LNG Carrier to TEN in 2021

Maritime Activity Reports, Inc.

September 6, 2019

Pic: TEN

Pic: TEN

Greek tanker company TEN announced that it is proceeding with the order of one-option-one 174,000cbm liquefied natural gas (LNG) carrier from Hyundai Heavy Industries (HHI) in South Korea.

The vessel will be delivered in the second half of 2021, said the transporter of owning a versatile fleet of modern crude and product tankers with strong ice-class capabilities, shuttle tankers and LNG vessels.

With this order, the Company’s LNG proforma fleet rises to four vessels, two of which are employed on time-chartered contracts with major international natural gas production and trading entities.

"TEN continues its stated policy of maintaining a diversified energy fleet with a focus on LNG as an area of growth. Management expects more accretive investments in the sector as that develops," said a press release.

The company’s newbuilding program progresses as planned. The first of two aframaxes on long-term contracts to a major US end user is expected to be delivered in October 2019, with the second in January 2020.

Expanding TEN’s presence in the developing natural gas sector, management signed a contract for the construction of an additional LNG carrier with an option for one more at competitive prices.

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