Announced 03/06/26 - For TEN, that’s a somewhat early release of quarterly results. Usually, TEN is several weeks to a month, after their tanker/shipping peers. What do TEN mgmt have to say? Well, the release did have a point on Q4 2025 net income of $58M (or 200% increase over Q4 2024). But then, focus shifted to annual results. The fleet pluses and minuses evened out, so ended the year at 62 vessels.
TEN ordered three VLCCs in Dec 2025, and have subsequently announced plans to sell its 2016-built VLCC (could be a Sinokor deal, not specified) with delivery in May 2026. [Edit: VLCC being sold is oldest of their three existing VLCCs]. TEN have also announced an order of two LNG tankers, and taken delivery of two MR2 taken in Jan 2026
Owned the name in the past (common & preferred shares), but no position currently. Based on past experience, TEN tends to lean in on TC coverage. I’d have to dig deeper into its fleet coverage prior to stacking this tanker name among its competitors