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
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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.
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