Tsakos Energy Navigation 12 newbuilds to be delivered until 2028

TEN welcomes its first LNG-powered Aframax tanker in a series of four

With 21 new vessels, three of which DP2 shuttle tankers under construction on long-term contracts to significant energy users, TEN’s management continues to actively explore strategic opportunities, across all sectors in which it operates.

New York-listed Tsakos Energy Navigation (TEN) also reveals that it will explore “divestment opportunities” for its earlier generation vessels and in that way monetize the full value of the assets the current market environment is providing for.

Meanwhile, 30 vessels reported with new and extended charters at significantly higher rates, whilst 21 vessels contracted/acquired within 2024.

“With a fleet of 74 vessels, 11 of which underwent scheduled dry dockings this year, thus far, the fleet performed well, setting high standards for operational excellence, fleet growth and shareholders rewards. The $1.50 per common share total dividend for 2024 is proof to that,” Mr. George Saroglou, president of TEN commented.

“With healthy cash balances and committed growth, we remain confident that TEN will be at the forefront of growth and value investors going forward,” Mr. Saroglou concluded.