ATHENS, GREECE--(Marketwired - Mar 9, 2017) - TEN Ltd ("TEN") (NYSE: TNP), a leading diversified crude, product and LNG tanker operator, today announced an up to 18 months time charter with minimum and profit sharing provision for the newly delivered VLCC Hercules I to a major US oil company.

"All 15 new vessels in TEN's growth program, including the five for the rest of this year, have full long-term employment. This new time charter announced today with minimum base rate and profit sharing arrangements protects the Company's bottom line and ensures participation on the upside," stated Mr. Nikolas P. Tsakos, President and CEO of TEN and current Chairman of INTERTANKO. "Long-term business with first class clients is an important part of our industrial shipping strategy, solidifying further our balance sheet while supporting TEN's continued profitability. These are all attributes which should ultimately be reflected in TEN's true valuation," Mr. Tsakos concluded. 

ABOUT TSAKOS ENERGY NAVIGATION
 TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. The Company's pro-forma fleet, including four Aframax tankers and a Suezmax DP2 shuttle tanker under construction, consists of 65 double-hull vessels, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.2 million dwt. Of these, 45 vessels trade in crude, 15 in products, three are shuttle tankers and two are LNG carriers.

NEWBUILDINGS DELIVERED & VESSELS UNDER CONSTRUCTION

 #  Vessel Name  Type  Dwt  Delivery  Status  Employment
 1  Ulysses  VLCC  300,000  June 2016  Delivered  Yes
 2  Elias Tsakos  Aframax  112,700  June 2016  Delivered  Yes
 3  Thomas Zafiras  Aframax  112,700  Aug 2016  Delivered  Yes
 4  Sunray  Panamax LR1  74,200  Aug 2016  Delivered  Yes
 5  Sunrise  Panamax LR1  74,200  Sep 2016  Delivered  Yes
 6  Maria Energy  LNG  93,616  Oct 2016  Delivered  Yes
 7  Leontios H  Aframax  112,700  Oct 2016  Delivered  Yes
 8  Parthenon TS  Aframax  112,700  Nov 2016  Delivered  Yes
 9  Hercules I  VLCC  300,000  Jan 2017  Delivered  Yes
 10  Marathon TS  Aframax  112,700  Feb 2017  Delivered  Yes
 11  Lisboa  DP2 Shuttle  157,000  Q1 2017  TBD  Yes
 12  Sola TS  Aframax  112,700  Q1 2017  TBD  Yes
 13  Oslo TS  Aframax  112,700  Q2 2017  TBD  Yes
 14  Stavanger TS  Aframax  112,700  Q3 2017  TBD  Yes
 15  Bergen TS  Aframax  112,700  Q4 2017  TBD  Yes

Visit our company website at:http://www.tenn.gr

ABOUT FORWARD-LOOKING STATEMENTS
 Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements.

TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.