NYSE-listed TEN announced on Wednesday the order of a second LNG carrier at HD Hyundai Heavy Industries in South Korea.
TEN said the LNG carrier is scheduled for delivery in the first quarter of 2029.
The firm did not reveal further details.
With this order, TEN’s newbuilding program reaches 20 vessels.
“We are delighted to expand our presence in the ever-evolving LNG sector, a market we are actively participating in since 2007,” George Saroglou, TEN’s president and COO, said.
“The growing global energy demand fueled by geopolitical developments has increased the need for LNG as an alternative source,” Saroglou said.
HD Hyundai Heavy Industries announced on Wendesday that it has won contracts worth approximately $574 million to build one floating storage and regasification unit (FSRU) and one LNG carrier.
The FSRU is tied to BW LNG.
According to HD Hyundai Industries, it will build the LNG carrier for an owner in Oceania.
HD Hyundai Heavy will deliver the vessel by January 2029.
This contract is worth $392.2 billion won, or approximately $254 million.
In February this year, HD Hyundai Heavy also secured an order for one LNG carrier from an unnamed owner in Oceania.
The order is valued at $254 million.
The South Korean shipbuilder will deliver this vessel by September 2029.
This order followed Greek reports that TEN had booked two LNG carriers at HD Hyundai Heavy.
TEN currently has two LNG carriers in its fleet, both built by HD Hyundai Heavy Industries.
The company owns the 2016-built 174,000-cbm, Maria Energy, and the 2022-built 174,000-cbm LNG carrier, Tenergy.
In 2024, the company sold its 150,000-cbm vessel Neo Energy, built in 2007 by HD Hyundai Heavy.