Filing Financials: TEN Ltd Reports Growth
The company's diversified energy fleet and strong financial performance position it for continued growth and success in the global energy market, with a focus on delivering value to shareholders and stakeholders through its operations and financial management.
TEN Ltd, a leading diversified crude, product and LNG tanker operator, has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2024, with the US Securities and Exchange Commission (SEC), highlighting a strong track record of growth with a 36% increase in deadweight tonnage and a doubling of minimum contracted revenues to $4.0 billion.
The report, which is available on the company's Investor Relations website or can be obtained by contacting Capital Link, provides an overview of the company's financial performance and operations. TEN, founded in 1993, is one of the first and most established public shipping companies in the world, with a diversified energy fleet of 82 vessels, including 12 DP2 shuttle tankers and several scrubber-fitted vessels.
The company's financial performance for the year ended December 31, 2024, was marked by adjusted EBITDA of $400 million and net income of $176 million. This strong financial performance is a testament to the company's ability to navigate the complexities of the global energy market and capitalize on emerging opportunities.
With the filing of its Form 20-F, TEN Ltd has demonstrated its commitment to transparency and accountability, providing stakeholders with a comprehensive overview of its financial performance and operations. As the company looks to the future, it is well-positioned to continue its growth trajectory and capitalize on emerging trends in the global energy market.