South Korea’s mid-sized shipyard, Daehan Shipbuilding, recently delivered two LNG dual-fuel Aframax tankers, the Chios DF and the Ithaki DF, to Greek shipping company Tsakos Energy Navigation (TEN).
These are the last two units in a series of four high-specification, environmentally friendly design tankers. The first two units in the series, the Njord DF and the Ran DF, were delivered in September and October 2023, respectively.
Back in 2021, TEN ordered six LNG dual-fuel tankers from Daehan Shipbuilding, including four Aframax tankers and two optional LR2 product tankers, with a total order value of KRW 500 billion. Among them, four tankers are scheduled to start construction in September 2022 and be delivered from September to December 2023.
The series is part of the company’s existing green development program, which is expected to gradually introduce a total of 10 vessels to TEN’s fleet by 2026, TEN said. The remaining vessels under construction include two DP2 shuttle tankers, two Suezmax tankers with scrubbers (expected delivery in 2025), and two MR product tankers with scrubbers (expected delivery in 2026).
Meanwhile, TEN announced the sale of the Eurochampion 2004, a debt-free Suezmax tanker built in 2005. The sale will bring the company a cash balance of approximately $40 million. In addition, TEN continues to discuss further sales of this type of vessel in the near future.
Currently, TEN has a diversified fleet of 67 vessels, including vessels under construction, with a total deadweight tonnage of 8.2 million dwt.