Greece’s Tsakos Energy Navigation (TEN) has expanded its VLCC newbuilding programme at South Korea’s Hanwha Ocean, adding one firm vessel and securing an option for a fourth.
The new order builds on the two 320,000 dwt units TEN booked at the yard earlier this year. Those ships, confirmed in August, were priced at around $128m each.
With the latest addition, TEN now has three VLCCs on order at Hanwha, with the potential for a fourth if the option is exercised. All three VLCCs at Hanwha will be fitted with scrubbers and are scheduled to join the fleet between 2027 and 2028.
The move is part of what the company described as a “dynamic renewal program,” which includes a total of 21 vessels under construction across crude and product segments, with the aim to “rebalance the fleet toward larger crude carriers”.
TEN, which controls a fleet of 82 vessels, recently took delivery of the Paris 24 from Samsung Heavy Industries and the vessel has started a seven-year charter with an oil major. Next up is the Silia T, an eco scrubber-fitted suezmax due from HD Hyundai Ocean Services in October, fixed to a US oil major for at least three years.
