Tsakos Energy Navigation Limited (TEN)today announced that it had conducted its Annual General Meeting (AGM). All of the resolutions proposed were approved, and specifically, the Company announced that: * Mr. D. John Stavropoulos and Mr. P. Nicholson were re-elected to serve two-year terms on the Board of Directors. * Mr. W. O'Neil and Mr. F. Nusspickel were newly elected to the Board of Directors to serve two-year terms. * The audited financial statements for the year ended December 31, 2003 were adopted * Ernst & Young were appointed as auditors for the financial year ending December 31, 2004 * The proposal for the remuneration of the non-executive directors was approved * Shareholder acceptance of the Tsakos Energy Navigation Limited 2004 Incentive Plan
Tsakos Energy Navigation Ltd. ("TEN") (NYSE: TNP) has announced a four-year time charter for the 2007-built 150,000 m3 LNG carrier Neo Energy to a major international energy concern. The charter is expected to commence in the first quarter of next year upon expiration of the vessel’s existing employment. This new charter, in line with current market levels, is anticipated to make a significant contribution to the bottom line over its duration.
Tsakos Energy Navigation Ltd. (TEN) announced a three-year time- charter to a European charterer of the 37,340 dwt 1B ice-class handysize product tanker Bosporos, expected to be delivered from Hyundai Mipo Dockyard of South Korea at the end of August. The charter is structured with a minimum rate and a 50/50 profit share should rates exceed that minimum. The gross proceeds from this charter, assuming only the minimum rate, are expected to exceed $21m.
Tsakos Energy Navigation Ltd. announced a three-year charter extension for its 2005-built double-hull 1C ice class Suezmax tanker Euronike to a large independent United States refiner, who has employed the vessel for the past twelve months since her delivery from the shipyard. The charter rate for the extension compares favourably to rates for similar duration charters for similar modern tonnage in the market. Gross revenues
Tsakos Energy Navigation Limited (TEN) announced the delivery of the 1993-built 298,900 dwt double-hull VLCC La Prudencia. The vessel has been immediately employed by a major oil company earning approximately $75,000 per day for a 50-day voyage. La Prudencia is the first delivery from the five vessel transaction announced on January 12, 2006, and will be followed by the 2004-built 37,532 dwt product tanker Delphi later this quarter.
Tsakos Energy Navigation Limited announced the delivery and charter of the 105,000 dwt DNA-Aframax tanker Uraga Princess from Sumitomo Heavy Industries in Japan, the final newbuilding in a series of eight ordered in 2004. Upon delivery, the vessel entered a minimum 30-day repositioning voyage with the oil trading arm of a major financial institution.
Tsakos Energy Navigation signed a cooperation agreement with China Classification Society (CCS) to jointly develop shipping and energy related projects in China. CCS was established in 1956, is one of the ten full members of the International Association ofClassification Societies (IACS) and the only specialized organization of China to provide classification services. By the end of 2009, CCS classed fleet was 2,282 ships totalling 34.45 million gross tonnage.
Athens, Greece – Tsakos Energy Navigation Limited announced the order of one plus one state-of –the–art LNG carrier for delivery in the first quarter of 2015 at a major South Korean yard. The vessel is of the new tri-fuel design, enabling the ship to run on fuel oil, marine diesel/gas oil and natural gas, offering attractive alternatives to charterers. Discussions for long-term contracts have begun
Tsakos Energy Navigation Limited (TEN) has taken delivery of the latest vessel in its newbuilding program from Imabari Shipyards in Japan. The Panamax Inca was delivered on March 20, and immediately entered into an accretive repositioning voyage with a major Far Eastern concern at $25,000 per day. The Inca is the second of four new fully coated panamaxes, and joins its sister ship, the Maya, which was received on January 24, 2003
Tsakos Energy Navigation Limited (TEN) (NYSE:TNP) announced that its Board of Directors has declared a regular quarterly dividend of $0.15 per share of common stock outstanding payable on October 26, 2010 to shareholders of record on October 22, 2010. The stock will trade ex-dividend on October 20, 2010. Including the above distribution, TEN will have distributed $8.475 per share in dividends to its shareholders since the Company was listed on the NYSE in March of 2002. The listing price was $7
Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator, today announced that it plans to offer its Series B Cumulative Redeemable Perpetual Preferred Shares (the Series B Preferred Shares) in a public offering under its effective shelf registration statement.
Tsakos Energy Navigation Limited (TEN), a product, crude and LNG tanker operator today announced the successful delivery of its second fully coated DP2 suezmax shuttle product tanker, Brasil 2014, from South Korea. The Brasil 2014 is a sister vessel to the Rio 2016 that was delivered in March
Tsakos Energy Navigation Limited a product, crude and LNG tanker operator, announced that on Friday, March 22, 2013, the Chief Executive Officer of the Company, Mr. Nikolas Tsakos as well as senior members of the company's management team and guests celebrated the Company's 20th Anniversary as a
Greece-based Tsakos Energy Navigation Limited (TEN) fix 3-year charters for 5 Panamax LR1 product tankers with a major national end-user. These fixtures are expected to generate close to $80 million in gross revenues over the duration of their contracts
Tsakos Energy Navigation Limited – product, crude and LNG tanker operator – delivered the fully-coated DP2 shuttle tanker, the first of its kind internationally to fly the Greek flag, with a carrying capacity of 157,000 dwt, Rio 2016
Tsakos Energy Navigation Limited (TEN) charters out ice-class aframax product tanker 'Propontiss', & sells two oldest vessels. The company announce the charter of its 2008-built 1A ice-class aframax product tanker Propontis to Northern European end-users for two years
Tsakos Energy Navigation Limited (TEN ) (NYSE: TNP) one of the largest independent ice-class owners in the world with 21 out of 51 vessels with ice-class capabilities has announced six-month time charters for three ice class tankers to a global energy end-user at rates that reflect currently
Tsakos Energy Navigation Limited (TEN) announce a three-year time charter extension for the 2007 built, 163,216 dwt, double hull suezmax tanker, 'Arctic'. The charter with the same South American state oil company incorporates minimum and maximum levels and a 50:50 profit split for rates in
Tsakos Energy Navigation Limited (TEN or the “Company")(NYSE: TNP) announced a two-year time charter extension for the 2008 built, 105,392 dwt, double hull aframax tanker, Nippon Princess, with the same charterer, a state oil company.
Tsakos Energy Navigation Limited (TEN) announced that its Board of Directors has authorized a new share repurchase program on the company’s common shares allocating up to $20 million for purchases in the open market and in other transactions
Tsakos Energy Navigation Limited (TEN) has announced the sale of the 1991-built Aframax tanker Vergina II to third party owners. Vergina II, sister vessel of Victory III sold earlier in 2010, will be delivered to its new owners by the end of this month and will release approximately $1
Tsakos Energy Navigation Ltd. (TEN) announced the charter of the 105,000 dwt, DNA design Aframax tanker, Maria Princess, to a major Chinese oil concern for a twelve month period. This charter comes in line with the Company's pre-stated policy in exploring opportunities in the wider Chinese energy
Some of the biggest names in shipping today called on the industry to take far-reaching action to create a maritime sector which is socially and environmentally responsible and profitable. Members of the Sustainable Shipping Initiative, a global coalition drawn from across the sector
Four newbuilding suezmaxes (including two shuttle tankers) chartered for a combined 53 years with minimum total revenues of $720 million Fleet utilization at 99% FIRST QUARTER HIGHLIGHTS * Voyage revenues of $99.2 million * Net income of $9.3 million * Earnings per share (diluted) of $0.20
Minimum $200 million in revenues over charter period ATHENS, GREECE – May 9, 2011 - Tsakos Energy Navigation Limited (“TEN” or the “Company”) (NYSE:TNP) today announced two long-term fixtures with minimum and profit sharing provisions to a major Far Eastern entity