TEN Energy has placed an order for a second liquefied natural gas (LNG) carrier with Taiwan-based shipbuilder Shuttle Inc (2405.TW), according to Handelsavisen Monitor data.
The transaction expands the South Korean energy trader's active shipbuilding program to a total of 20 vessels, signaling continued commitment to fleet growth despite broader market volatility in the shipping sector.
The order reinforces the strategic partnership between TEN Energy and Shuttle Inc, a key player in the specialized LNG carrier market.
For investors in 2405.TW, the deal represents a tangible win in the competitive orderbook, adding to the shipbuilder's backlog of high-value, complex projects.
The expansion of TEN Energy's program to 20 vessels suggests sustained demand for LNG transport capacity, driven by global energy transition dynamics and long-term supply contracts.
Handelsavisen's own analysis assigns Shuttle Inc a composite score of 50.23/100, reflecting a balanced view of its market position and financial health.