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TEN Announces the Delivery and Charter of Suezmax Tanker

January 11, 2007

Tsakos Energy Navigation Ltd. (TEN) announced the delivery of the 1A ice-class 162,400 dwt Suezmax tanker Arctic from South Korea's Hyundai Heavy Industries. The introduction of the Arctic raises the company's Suezmaxes to nine of which five are of ice-class design. With the Arctic, the fleet's total ice-class capacity in the water now stands at 18 vessels. Upon delivery, the Arctic will enter a forty-day repositioning charter with a major end-user at an attractive rate.

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