<\/p>\n
Greek shipping major TEN has entered into a contract for the construction of up to three Suezmax DP2 shuttle tankers on long-term employment with an unnamed European charterer.<\/p>\n
TEN said that vessels would be built at a yard in South Korea and that the time charter equivalent minimum revenues to be generated over the duration of the respective contacts are expected at about $250 million. <\/p>\n
\u201cTEN continues its profitable and market-proven policy of attractive long-term charters to grow its fleet at periods of competitive newbuilding prices,\u201d<\/em> said George Saroglou<\/strong>, COO of TEN.<\/p>\n \u201cBy doubling our presence in this very selective with high-barriers-to-entry sector, we add market share and substantially increase our bottom line. Accretive fleet growth and renewal remain a cornerstone of our strategy which along with healthy dividends and stock buybacks should assist for a more realistic share valuation going forward.\u201d <\/em><\/p>\n TEN\u2019s fleet currently consists of 65 double-hull vessels in the water, constituting a mix of crude tankers, product tankers and LNG carriers.<\/p>\n The company has one LNG carrier, two suezmax tankers and up to three suezmax DP2 shuttle tankers under construction. <\/p>\n The post TEN orders up to three shuttle tankers in South Korea<\/a> appeared first on Offshore Energy<\/a>.<\/p>\n world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":" Greek shipping major TEN has entered into a contract for the construction of up to three Suezmax DP2 shuttle tankers on long-term employment with an unnamed European charterer. TEN said that vessels would be built at a yard in South Korea and that the time charter equivalent minimum revenues to be generated over the duration …<\/p>\n","protected":false},"author":1,"featured_media":13405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[949,1501,1474,1623,198,906],"class_list":["post-13404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-korea","tag-orders","tag-shuttle","tag-south","tag-tankers","tag-ten"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/13404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=13404"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/13404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/13405"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=13404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=13404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=13404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}