Tsakos Energy Navigation is expanding its investment program by focusing on shuttle tankers.
According to Xclusiv, the group will proceed with the construction of nine more shuttle tankers (DP2) in a South Korean shipyard, with the Brazilian Transpetro as charterer.
According to the same sources, the Greek shipping group will invest approximately 1.3 billion dollars for these tankers that have the ability to load and unload on offshore platforms.
The delivery of two of them is scheduled for 2027, while the remaining seven are expected to be delivered next year.
It is noted that the group’s listed company, Tsakos Energy Navigation, already has four DP2 shuttle tankers in its fleet.
Shuttle tankers seem to be gaining more and more interest from Greek shipowners.
Shipbrokers commented that the new US President Donald Trump has spoken favourably about investments in drilling both on land and at sea has led many shipowners to reconsider their stance, after a period when orders in this sector had decreased.
Green transition
TEN has also focused on investments with the aim of converting its fleet to green by 2030.
As TEN founder and president Dr. Nikos Tsakos recently stated, “at this moment, with new technology dual-fuel ships, we are the largest dual fuel operator in the world and we continue to do so.
We managed to make long-term agreements with companies such as EXXON, Chevron, TOTAL, Equinor, Shell, BP.”
