Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 95

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 95
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Once agreed the mid-term measures are expected to appear in a new chapter 5 to MARPOL Annex VI, entitled the "IMO net-zero framework", currently under development (as mentioned above).

  ix.      The LCA Guidelines  

As mentioned above, the LCA Guidelines were adopted at MEPC81 in March 2024. The Guidelines provide a framework to assess the GHG intensity of all possible marine fuels and energy carriers, on a WtW basis, in relation to carbon dioxide, methane and nitrous oxide emissions.

The Guidelines (1) include default emission factors, and a methodology for using actual emission factors (subject to third-party verification and certification), and (2) introduce the concept of a Fuel Lifecycle Label to collect relevant information (including fuel type, pathway code, blend and lower calorific value) and convey sustainability certification.

  Low Carbon Global Industry Alliance ("GIA")  

On June 29, 2017, the Low Carbon Global Industry Alliance (the “ GIA”) was officially inaugurated. The GIA was a program, under the Global Environmental Facility-United Nations Development Program-IMO project (GEF-UNDP-IMO GloMEEP Project), which supports shipping, and related industries, as they move towards a low carbon future. The GIA includes 18 members including, but not limited to, shipowners, operators, classification societies, and oil companies. Following completion of the GloMEEP Project in December 2019, the GIA was re-established and continues to operate under the framework of IMO GreenVoyage2050.

  Cyber Security Regulations  

In June 2017, the IMO’s Maritime Safety Committee adopted requirements for cyber-risk management systems to be incorporated and implemented by ship owners and managers by 2021. U. S. agencies have indicated that cybersecurity regulations for the maritime industry are likely to be further developed in the near future in an attempt to combat cybersecurity threats. Compliance might require companies to cultivate additional procedures for monitoring cybersecurity, which could require additional expenses and/or capital expenditures.

The impact of these requirements on our business and operations, including any necessary capital expenditures, is difficult to accurately predict at this time.

  Trading Restrictions  

Our vessels may be chartered or sub-chartered to parties, or call on ports, located in countries that are subject to restrictions and sanctions imposed by the United States, the EU and other jurisdictions.

Certain countries (including certain regions of Ukraine, Russia, Belarus, Cuba, Iran, North Korea and Syria), entities and persons are targeted by economic