TEN Ltd. Delivered 6 Environmentally Friendly Vessels Since The Beginning Of 2024; Vessels Are Employed On Time-Charter Contracts With Profit-Sharing Provisions, With Expected Minimum Gross Revenues In Excess Of $200M
Portfolio Pulse from Benzinga Newsdesk
TEN Ltd. (NYSE:TNP) has delivered six environmentally friendly vessels since the beginning of 2024, with an additional vessel expected by the end of May. These vessels are employed on time-charter contracts with profit-sharing provisions, expected to generate minimum gross revenues of over $200 million. The company aims for a full 'green' fleet by 2030.
May 16, 2024 | 8:29 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
TEN Ltd. has delivered six environmentally friendly vessels since the beginning of 2024, with an additional vessel expected by the end of May. These vessels are on time-charter contracts with profit-sharing provisions, expected to generate minimum gross revenues of over $200 million.
The delivery of new environmentally friendly vessels and the expected revenue boost from time-charter contracts with profit-sharing provisions are positive developments for TEN Ltd. This aligns with the company's goal of achieving a full 'green' fleet by 2030, which is likely to enhance its market position and appeal to environmentally conscious investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100