Company Profile
TEN Limited owns and operates a fleet of modern tankers providing world-wide marine transportation services for national, major and other independent oil companies and refiners under long, medium and short-term charters.
The Company currently (May 2002) operates a fleet of 17 tankers (including one chartered - in Aframax) comprising of 1,536,000 dwt with an average age of 8.9 years, which TEN believes is much younger than the world's tanker fleet. Additionally TEN will take delivery of 10 newbuildings (four Suezmaxes, two Aframaxes and four Panamaxes) reducing the pro-forma average age to 6.7 years in March 2004. The resulting fleet of 27 vessels with dwt 2,680,000 includes 16 newbuildings (1997-2004) with dwt 1,981,000. Consistent with the Company's strategy to offer its customers a young and growing fleet TEN will seek additional attractive opportunities to contract new vessels and to dispose of older ships.
TEN Limited is incorporated in Bermuda, managed out of Greece, and listed in the New York Stock Exchange (NYSE) under the symbol TNP, in the Oslo Stock Exchange (OSE) in Norway under the symbol TEN and in the Bermuda Stock Exchange (BSX) under the symbol TEN.
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