Greece’s TEN sells steam LNG carrier

Greek shipping firm Tsakos Energy Navigation (TEN) has sold a 2007-built liquefied natural gas (LNG) carrier with a steam turbine propulsion.

Besides the LNG carrier, TEN has sold a 2008-built Aframax, and the company has generated an additional $100 million in free cash from these sales, TEN said in a statement.

TEN did not provide any additional details regarding the LNG carrier sale.

The vessel in question is the 150,000-cbm, Neo Energy, built in 2007 by South Korea’s Hyundai Heavy.

VesselsValue shows that TEN sold the LNG carrier, now named New Energy, to an undisclosed buyer for $80 million.

Besides this LNG carrier, TEN owns the 2016-built 174,000-cbm, Maria Energy, and the 2022-built 174,000-cbm LNG carrier, Tenergy.

TEN also said in the statement it has completed its previously announced deal with Norway’s Viken with the delivery of a 2019-built scrubber fitted 1A ice-class Aframax tanker.

This deal included two 2023-built LNG dual-fuel LR2 tankers.

With this acquisition, TEN’s LNG-powered tankers, after the delivery of its four-new
vessel program, increased to six.

TEN took delivery of four LNG-powered Aframax tankers from South Korea’s Daehan Shipbuilding and all of these vessels serve charter deals with Norway’s Equinor.

Since the beginning of 2023, TEN has sold 13 vessels totaling 1.1 million dwt averaging about 18.5 years.

At the same time, it has purchased and placed new orders for 20 vessels totaling 2.25
million dwt, with an average age of 1.2 years.

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