The Eurochampion 2004, which was debt free, will contribute approximately US$40 million to the company’s cash balances with management in continuous discussions for further such sales in the near future.
“The sale and delivery of these three vessels constitute another milestone for TEN as it highlights the company’s commitment to fleet renewal by combining profitable vessel divestments with deliveries of high-end ‘green’ vessels on long-term contracts,” said George Saroglou, President & COO of TEN. “The Eurochampion 2004 has served the company well over the years and we wish her new owners ‘calm seas’ in her journeys. With the all LNG-powered vessels now delivered, management will continue to explore growth opportunities on both the newbuilding and second-hand front while maintaining its interest in strategic sales to ensure a seamless fleet transition going forward.”
