Tsakos Energy Navigation (TEN) has accelerated its plans aiming to achieve green transition by 2030.
The longest-running Greek shipping company listed on the US stock market, according to the founder and CEO Dr. Nikos Tsakos, has started investing in dual-fuel LNG tankers in an effort to gradually acquire a 100% “green fleet” by 2030.
In this framework, the company recently announced the sale of the Suezmax Eurochampion 2004 tanker, built in 2005. The ship was named in honor of Greece’s victory in Euro 2004.
At the same time, the deliveries of the four newly built dual fuel LNG tankers of the aframax type were completed. In particular, the deliveries of the last two tankers Chios DF and Ithaki DF. It is a series of high-tech and ecologically designed ships built for long-term employment in a large oil group.
As for the debt-free Eurochampion 2004, it will contribute approximately 40 million US dollars to the company’s cash flow while discussions are underway for further such sales in the near future.
“The sale of Eurochampion 2004 and delivery of the two new vessels is another milestone for TEN, as it highlights the company’s commitment to fleet renewal by combining profitable ship sales with deliveries of high-quality ‘green’ ships on long-term charters,” George Saroglou, President and COO of TEN, commented.
Its shipbuilding program includes six eco tankers which it is expected to receive gradually until the first quarter of 2026.
It is pointed out that the company had also sold older ships in its fleet in 2023, while recently, according to information, TEN bought five modern eco tankers, four of which are aframax and one suezmax.
