TEN Ltd. orders second LNG carrier at Hyundai Heavy Industries

TEN Ltd. (NYSE: TEN) has placed an order for a second LNG carrier at Hyundai Heavy Industries in South Korea, with delivery expected in the first quarter of 2029, according to a company press release.

The order brings TEN's newbuilding program to 20 vessels. The first vessel in the program, the Anfield DP, a DP2 shuttle tanker, is scheduled for delivery in late July 2026. That vessel has a minimum 10-year employment contract with a U.S. oil major, with extension options that could extend the term to 20 years.

TEN reported $3.5 billion in minimum secured revenues. The company's fleet currently consists of 83 vessels totaling more than 11 million deadweight tons.

"We are delighted to expand our presence in the ever-evolving LNG sector, a market we are actively participating in since 2007," said George Saroglou, TEN's President and COO. "The growing global energy demand fueled by geopolitical developments has increased the need for LNG as an alternative source."

TEN was founded in Bermuda in 1993 and has been listed on the NYSE for 24 years.

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