TEN Ltd. Announces Sale of Two First-Generation Suezmax Tankers

Ternium, an Italian-Argentine steelmaker, plans to take Usiminas, Brazil's largest flat-steel maker, private. Usiminas shares rose over 7% on the news. Ternium still needs minority shareholder approval. Neither company has issued a formal statement. Usiminas is strategic for Brazilian industry, supplying flat steel to car makers and appliance factories.

TEN Ltd. (NYSE: TEN) said it ordered a second LNG carrier from Hyundai Heavy Industries, with delivery expected in Q1 2029. The order brings TEN’s newbuilding program to 20 vessels. TEN’s first newbuild, the Anfield DP (a DP2 shuttle tanker), is due for delivery in late July 2026, tied to at least 10 years of employment to a U.S. oil major with extension options up to 20 years.

Tenaris (NYSE: TEN) shares rose 6.2% after the company began operations at a new Suriname service center in Paramaribo. The 74,500-sq.-meter facility will support TotalEnergies’ GranMorgu offshore project, supplying casing and production tubing; capacity is 15,000 metric tons. The article also notes broader oil-price weakness and TEN’s YTD and 52-week performance.

The article says the IRGC assessed a U.S.-Iran war risk as “low,” which it says contributed to a drop in crude oil prices. Louis Navellier says energy and tanker stocks remain attractive, citing strong forecast sales/earnings and longer routes and Strait of Hormuz bottlenecks. It also notes Elbit Systems Q1 revenue rose 15.5% to $2.189B, beating expectations, and Micron’s UBS price target was raised to $1,625.

AMD (NASDAQ:AMD) committed up to $5B to Anthropic, an AI company planning an IPO by October. AMD's investment is contingent and could triple its private company investments. Anthropic's reported revenue run rate exceeded $65B by July, with a potential $2T valuation. AMD's data center revenue grew 105% YoY to $6.7B in Q2, with Anthropic's GPU deployment starting in 2027.

Hyundai Steel and POSCO began constructing a $5.8B steel plant in Louisiana, targeting 2.7M tons/year production by 2029. The project, with 50% Hyundai Steel ownership, aims to create 5,400 jobs and reduce carbon emissions by 70%. It's part of a $26B U.S. investment plan to strengthen supply chains and compete with local steel prices around $1,200/ton.