TEN, Ltd. Continues Its Fleet Renewal and Reports Sale of Panamax Tanker

Dynamic Fleet Growth on Track

Five New-Technology Panamaxes on Order

Tanker Market Fundamentals Remain Strong

ATHENS, Greece, Sept. 28, 2026 (GLOBE NEWSWIRE) -- TEN, Ltd. (NYSE: TEN) (the “Company”) today reported the sale of the oldest vessel in its fleet, the 2003 Japanese-built Panamax tanker Andes, to independent third parties. The sale generated approximately $13.0 million of free cash and registered a $4.6 million capital gain, to be recorded in the third quarter of 2026.  

“The Company has embarked on a significant fleet growth program, as reflected in its 26-vessel orderbook, of which seven vessels have already been delivered. Particular emphasis has been placed on the flexible Panamax segment through the construction of five units,” Mr. George Saroglou, President of TEN commented. “Looking ahead, we will continue to evaluate sale and purchase opportunities while remaining committed to maintaining fleet modernity and operational flexibility that have allowed TEN to thrive through market cycles over the decades,” Mr. Saroglou concluded.

TEN’s CURRENT NEWBUILDING PROGRAM

#	Name	Type	Delivery (exp)	Status	Employment
CONVENTIONAL TANKERS
1	DR IRENE TSAKOS	Suezmax – Scrubber Fitted	Q2 2025	DELIVERED	Yes
2	SILIA T	Suezmax – Scrubber Fitted	Q4 2025	DELIVERED	Yes
3	DELOS T	MR – Scrubber Fitted	Q1 2026	DELIVERED	Yes
4	DION	MR – Scrubber Fitted	Q1 2026	DELIVERED	Yes
5	AMAZONA	Panamax LR1 – Scrubber Fitted	Q2 2027	Under Construction	TBA
6	MAYA	Panamax LR1 – Scrubber Fitted	Q3 2027	Under Construction	TBA
7	INCA	Panamax LR1 – Scrubber Fitted	Q4 2027	Under Construction	TBA
8	CHAIRMAN DJS	VLCC - Scrubber Fitted	Q4 2027	Under Construction	TBA
9	TBN	VLCC - Scrubber Fitted	Q1 2028	Under Construction	TBA
10	TBN	VLCC – Scrubber Fitted	Q2 2028	Under Construction	TBA
11	AZTEC	Panamax LR1 – Scrubber Fitted	Q3 2028	Under Construction	TBA
12	ANDES	Panamax LR1 – Scrubber Fitted	Q3 2028	Under Construction	TBA
SHUTTLE TANKERS
13	ATHENS 04	DP2 Shuttle Tanker	Q2 2025	DELIVERED	Yes
14	PARIS 24	DP2 Shuttle Tanker	Q3 2025	DELIVERED	Yes
15	ANFIELD DP	DP2 Shuttle Tanker	Q3 2026	DELIVERED	Yes
16	ARIANO SUASSUNA DP	DP2 Shuttle Tanker	Q3 2027	Under Construction	Yes
17	ELZA SOARES DP	DP2 Shuttle Tanker	Q4 2027	Under Construction	Yes
18	MARIA FIRMINA DP	DP2 Shuttle Tanker	Q1 2028	Under Construction	Yes
19	CAROLINA DE JESUS DP	DP2 Shuttle Tanker	Q2 2028	Under Construction	Yes
20	DR SOCRATES DP	DP2 Shuttle Tanker	Q3 2028	Under Construction	Yes
21	MARACANA DP	DP2 Shuttle Tanker	Q3 2028	Under Construction	Yes
22	CORINTHIANS DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
23	IPANEMAS DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
24	COPA DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
LNG CARRIERS
25	NY ENERGY 26	LNG Carrier	Q3 2028	Under Construction	TBA
26	TBN	LNG Carrier	Q1 2029	Under Construction	TBA

ABOUT TEN LTD.
Founded in Bermuda in 1993 and celebrating 33 years as a public company, 24 of which on the NYSE, TEN is one of the first and most established public shipping companies in the world. TEN's diversified pro-forma energy fleet currently consists of 80 vessels, totaling approx. 10.4 million dwt.

ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr

Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis/ Markella Kara
+212 661 7566
ten@capitallink.com