“Regardless of the short-term challenges the market is facing due to the coronavirus, longer-term market prospects remain positive. The above transactions enable the Company to proceed with its policy of maintaining a modern fleet through strategic sales of first-generation vessels,” said Mr. George Saroglou, CEO of TEN.

TEN, created in 1993 and marking 27 years as a public company this year, is one of the world's first and longest known public shipping companies. The diversified energy fleet of TEN presently comprises 69 double-hull vessels, including two suezmax tankers and one LNG carrier under development, including a mixture of oil tankers, commodity tankers and LNG carriers.

Maritime Business World