TEN Ltd. Announces Delivery and Naming of the Third in a Series of Twelve DP2 Shuttle Tankers Ordered at Samsung Heavy Industries, South Korea

About this update from Tsakos Energy Navigation Ltd

$3.5 billion of minimum contracted revenue from 82 vessel pro-forma fleet 16-shuttle tanker fleet making TEN one of the largest shuttle tanker owners in the world ATHENS, Greece, July 24, 2026 (GLOBE NEWSWIRE) -- TEN, Ltd (NYSE: TEN) today announced the delivery and naming of DP2 suezmax shuttle tanker "Anfield DP" from Samsung Heavy Industries Co., Ltd ("Samsung") in South Korea, the third in a series of 12 DP2 shuttle tankers under construction at Samsung. The vessel will commence a 10-year employment to a US oil major, with options to extend until the vessel's 20th year anniversary. The delivery of "Anfield DP" further advances the company's second phase expansion in the Brazilian offshore space, having established a presence in this "high barriers-to-entry" market since 2012. The naming ceremony was attended by dignitaries from Greece, South Korea and the USA. Her Excellency, Ms. K. Guilfoyle, the US Ambassador to Greece, named the vessel which hoisted the Greek flag. With this latest addition, TEN operates seven shuttle tankers on long-term employment, with nine more on order. Minimum gross revenues from the backlog of long-term charters are currently approximately $3.5 billion. "We welcome another advanced spec shuttle tanker in our fleet. The company continues its tested strategy of divesting its first-generation tankers at very profitable levels while replacing them with high-end specialized tonnage backed by accretive long-term contracts," Mr. George Saroglou, President & COO of TEN stated. "With a secured revenue backlog of $3.5 billion, supported by blue-chip counterparties, TEN can comfortably continue its growth trajectory and at the same time reward shareholders with healthy dividends," Mr. Saroglou concluded. TEN's CURRENT NEWBUILDING PROGRAM ABOUT TSAKOS ENERGY NAVIGATION TEN, founded in 1993 and celebrating this year 33-years as a public company, is one of the first and most established public shipping companies in the world. TEN's diversified energy fleet currently consists of 82 vessels, including twelve DP2 shuttle tankers, two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers, totaling 10.1 million dwt. ABOUT FORWARD-LOOKING STATEMENTS Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. For further information, please contact:  Company  Tsakos Energy Navigation Ltd.  George Saroglou  President & COO  +30210 94 07 710  [email protected] Investor Relations / Media  Capital Link, Inc.  Nicolas Bornozis / Markella Kara  +212 661 7566  [email protected]   A photo accompanying this announcement is available at  https://www.globenewswire.com/NewsRoom/AttachmentNg/a5a51003-9ab8-4858-a2b6-399aa574fbe6

View stock analysis, news, and events for Tsakos Energy Navigation Ltd