ATHENS, GREECE--(Marketwired - Aug 1, 2017) -  TEN, LTD. (NYSE: TNP), a leading crude, product and LNG tanker operator, today announced the delivery of the aframax tanker Stavanger TS, the eighth in a series of nine tankers built against long-term employment to a major European oil concern and one of the four, of this particular order, with ice-class specifications. 

The last remaining ship to complete the 15-vessel organic growth program, the Bergen TS is scheduled to be delivered and commence its long-term employment in the third quarter of this year. All 15 new tankers have long-term employment. With the delivery of the Bergen TS, TEN's current expansion program will reach its conclusion and result in 75% of the fleet in secured contracts with minimum gross revenues of $1.5 billion and average charter duration of 2.6 years.

ABOUT TSAKOS ENERGY NAVIGATION
 TEN, founded in 1993, is one of the first and most established public shipping companies in the world today. TEN's pro-forma fleet, including one Aframax 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.

COMPANY'S GROWTH TIME-TABLE

#   Vessel Name   Type   Dwt   Delivery   Status   LT Contracts
1  Ulysses  VLCC  300,000  May 2016  Delivered  Yes
2  Elias Tsakos  Aframax  112,700  June 2016  Delivered  Yes
3  Thomas Zafiras  Aframax  112,700  Aug 2016  Delivered  Yes
4  Leontios H  Aframax  112,700  Oct 2016  Delivered  Yes
5  Parthenon TS  Aframax  112,700  Nov 2016  Delivered  Yes
6  Sunray  Panamax LR1  74,200  Aug 2016  Delivered  Yes
7  Sunrise  Panamax LR1  74,200  Sep 2016  Delivered  Yes
8  Maria Energy  LNG  93,616  Oct 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  Mar 2017  Delivered  Yes
12  Sola TS  Aframax  112,700  Apr 2017  Delivered  Yes
13  Oslo TS  Aframax  112,700  May 2017  Delivered  Yes
14  Stavanger TS  Aframax  112,700  July 2017  Delivered  Yes
15   Bergen TS   Aframax   112,700   Q3 2017   TBD   Yes

LT: Long-Term

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.