Greece’s TEN takes delivery of LNG newbuild

Greek shipping firm Tsakos Energy Navigation (TEN) has taken delivery of a brand new LNG carrier from South Korea’s Hyundai Heavy Industries.

HHI delivered the 174,000-cbm Tenergy on January 12, according to the vessel’s manager, Bernhard Schulte Shipmanagement (Hellas).

BSM’s Athens-based unit will provide management services to support TEN and the charterer with this newbuild WinGD dual-fuel X-DF LNG carrier, the firm said, but it did not provide any additional information.

According to its AIS data provided by VesselsValue, Tenergy already left HHI’s yard in Ulsan on its maiden voyage.

Nikolas Tsakos-led TEN said in its quarterly report it would take delivery of this newbuild in January.

TEN also operates the 2007-built 150,000-cbm Neo Energy as well as the 2016-built 174,000-cbm Maria Energy.

The firm said in May last year it had signed new charters for all of the three LNG vessels. After that, it also ordered four LNG-powered Aframax tankers at South Korea’s Daehan Shipbuilding.

TEN’s founder and chief executive, Nikolas Tsakos, said during the company’s third-quarter earnings call in December the new LNG carrier would generate about $100,000 a day net income.

The Spark25 Pacific spot rate hit a record high of $374,500 per day on November 26. However, it sharply declined in the meantime reaching about $50,000 a day this week.

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