Tsakos Energy Navigation (TEN) has ordered a second LNG carrier from HD Hyundai Heavy Industries in South Korea, with delivery expected in the first quarter of 2029.
This contract increases the newbuilding programme of the Greek tanker operator to 20 vessels.
The first ship of the programme, a DP2 shuttle tanker named Anfield DP, is scheduled for delivery in late July 2026. This vessel has secured a minimum 10-year charter with an unnamed US oil major, with options to extend the agreement up to 20 years.
TEN noted it has secured at least $3.5 billion in minimum revenues from its fleet expansion project.
"We are delighted to expand our presence in the ever-evolving LNG sector…The growing global energy demand fueled by geopolitical developments has increased the need for LNG as an alternative source," said President and Chief Operating Officer George Saroglou.
TEN's fleet currently consists of 83 vessels totaling more than 11 million DWT.