Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 36

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 36
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ANCIAL STATEMENTS (UNAUDITED) JUNE 30, 2025 AND 2024 (Expressed in thousands of U.S. Dollars, except for share and per share data, unless otherwise stated)

Right-of-use assets and lease liabilities - Operating Leases (Table)

| Period / Year                                                                                      |     |   | Lease  Commitment |
|:---------------------------------------------------------------------------------------------------|:----|:--|------------------:|
| July 1 to December 31, 2025                                                                        |     | $ |             7,675 |
| 2026                                                                                               |     |   |             4,993 |
| Minimum net lease payments                                                                         |     | $ |            12,668 |
| Less: present value discount                                                                       |     |   |            -2,023 |
| Total obligations under operating leases and financial liability (current and non-current portion) |     | $ |            10,645 |

The Company has subleased all three vessels and recognized sublease revenue, net of voyage expenses of $ 7,192, for the second quarter of 2025, compared to $ 9,421for the second quarter of 2024. The amount of $ 12,728was recognized for the first half of 2025 for all three vessels, compared to $ 18,458in the prior year first half.

5. Vessels

Acquisitions

On April 28, 2025 and on June 5, 2025, the Company took delivery of its newbuilding DP2 shuttle tanker Athens 04(Adrian Maritime Ltd) and its suezmax tanker Dr Irene Tsakos(Scout Shiptrade Ltd), for an aggregate cost of $ 229,658. On January 11, 2024 and January 19, 2024, the Company took delivery of its newbuilding aframax tankers Chios DF (Simel Navigation Co. ) and Ithaki DF(Torvi Marine Corp. ), respectively, for an aggregate cost of $ 156,649. During the first half of 2024, the Company acquired four aframax tankers DF Montmartre(Pink Diamond Sea Inc.), Alpes(Ortsa Oceanway Corp.), DF Mystras(Palermo Enterprises Corp.), Aspen(Quartz Maritime Limited), and the suezmax tanker Popi Sazaklis(Soho Shipping & Trading Co.), for an aggregate cost of $ 350,000.

Vessels held for sale

As of