Tsakos Energy Navigation reveals MR newbuild orders

Tsakos Energy Navigation (TEN) has lifted its newbuilding orderbook to 10 ships. 

The Greek tanker and LNG carrier owner revealed in its second-quarter earnings report that it had recently contracted a pair of MR product tankers at an unnamed shipyard.

The New York-listed company disclosed no further details except that the scrubber-fitted ships will deliver in the first quarter of 2026. Depending on the country of build, delivery and ship specifications, 50,000 dwt newbuild MRs are quoted by brokers at about $47m.

TEN, with a fleet of 68 ships, including those under construction, will celebrate its 30th year as a public company in October. The company logged a first-half 2023 profit of $237m versus a $51.7m profit in the corresponding period in 2022.