TEN, Ltd. Continues Its Fleet Renewal and Reports Sale of Panamax Tanker

Dynamic Fleet Growth on Track

Five New-Technology Panamaxes on Order

Tanker Market Fundamentals Remain Strong

ATHENS, Greece, Sept. 28, 2026 (GLOBE NEWSWIRE) -- TEN, Ltd. (NYSE: TEN) (the “Company”) today reported the sale of the oldest vessel in its fleet, the 2003 Japanese-built Panamax tanker Andes, to independent third parties. The sale generated approximately $13.0 million of free cash and registered a $4.6 million capital gain, to be recorded in the third quarter of 2026.  

“The Company has embarked on a significant fleet growth program, as reflected in its 26-vessel orderbook, of which seven vessels have already been delivered. Particular emphasis has been placed on the flexible Panamax segment through the construction of five units,” Mr. George Saroglou, President of TEN commented. “Looking ahead, we will continue to evaluate sale and purchase opportunities while remaining committed to maintaining fleet modernity and operational flexibility that have allowed TEN to thrive through market cycles over the decades,” Mr. Saroglou concluded.

TEN’s CURRENT NEWBUILDING PROGRAM

#NameTypeDelivery (exp)StatusEmploymentCONVENTIONAL TANKERS1DR IRENE TSAKOSSuezmax – Scrubber Fitted Q2 2025DELIVEREDYes2SILIA TSuezmax – Scrubber Fitted Q4 2025DELIVEREDYes3DELOS T MR – Scrubber FittedQ1 2026DELIVEREDYes 4DIONMR – Scrubber FittedQ1 2026DELIVEREDYes5AMAZONAPanamax LR1 – Scrubber FittedQ2 2027Under ConstructionTBA6MAYAPanamax LR1 – Scrubber FittedQ3 2027Under ConstructionTBA7INCAPanamax LR1 – Scrubber FittedQ4 2027Under ConstructionTBA8CHAIRMAN DJSVLCC - Scrubber FittedQ4 2027Under ConstructionTBA9TBNVLCC - Scrubber FittedQ1 2028Under ConstructionTBA10TBNVLCC – Scrubber FittedQ2 2028Under ConstructionTBA11AZTECPanamax LR1 – Scrubber FittedQ3 2028Under ConstructionTBA12ANDESPanamax LR1 – Scrubber FittedQ3 2028Under ConstructionTBASHUTTLE TANKERS13ATHENS 04DP2 Shuttle TankerQ2 2025DELIVEREDYes14PARIS 24DP2 Shuttle TankerQ3 2025DELIVEREDYes15ANFIELD DPDP2 Shuttle TankerQ3 2026DELIVEREDYes16ARIANO SUASSUNA DPDP2 Shuttle TankerQ3 2027Under ConstructionYes17ELZA SOARES DPDP2 Shuttle TankerQ4 2027Under ConstructionYes18MARIA FIRMINA DPDP2 Shuttle TankerQ1 2028Under ConstructionYes19CAROLINA DE JESUS DPDP2 Shuttle TankerQ2 2028Under ConstructionYes20DR SOCRATES DPDP2 Shuttle TankerQ3 2028Under ConstructionYes21MARACANA DPDP2 Shuttle TankerQ3 2028Under ConstructionYes22CORINTHIANS DPDP2 Shuttle TankerQ4 2028Under ConstructionYes23IPANEMAS DPDP2 Shuttle TankerQ4 2028Under ConstructionYes24COPA DPDP2 Shuttle TankerQ4 2028Under ConstructionYesLNG CARRIERS25NY ENERGY 26LNG CarrierQ3 2028Under ConstructionTBA26TBNLNG CarrierQ1 2029Under ConstructionTBA      

ABOUT TEN LTD.
Founded in Bermuda in 1993 and celebrating 33 years as a public company, 24 of which on the NYSE, TEN is one of the first and most established public shipping companies in the world. TEN's diversified pro-forma energy fleet currently consists of 80 vessels, totaling approx. 10.4 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:

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]