Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 132

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 5
Chunk 132
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9 million for the acquisition of the aframax tankers, Chios DF, Ithaki DF, DF Montmartre, DF Mystras, Alpes, Aspenand the suezmax tanker Popi Sazaklisand $4.7 million for improvements on existing vessels. The Company also paid $160.4 million for the twelve under construction vessels, the three shuttle tankersAthens 04, Paris 24, Anfield, the two suezmax tankers Dr Irene Tsakosand Silia T, the two MR tankers, Hull 1521andHull 1522, and the five LR1Hull 1623, Hull 0307383, Hull 0307384, Hull 0307385, Hull 0307386, which were counterbalanced by cash generated by the sale of the two suezmax tankers, Eurochampion 2004andEuronike, the two aframax tankers Nippon PrincessandIzumo Princess, and the LNG carrierNeo Energy, amounting to $228.4 million. In addition, during 2024, the Company invested $20.0 million in debt securities, featuring interest rates alongside the availability of callable securities. In 2023, the cash flow used in investing activities consists of $152.6 million for the acquisition of the aframax tankers, Njord DF, Ran DF, and the two suezmax tankers, Eurochampion 2004andEuronike, $134.7 million payments for vessels under construction, $11.0 million for improvements on existing vessels and $5.0 million investment in debt securities which were offset by cash generated by the sale of the six handymax vessels, Afrodite, Artemis, Ariadne, Aris, Ajax, Apollon, and the two handysize vessels Arion, Amphitrite, of $165.9 million.

As at December 31, 2024, we had two suezmax tankers, three DP2 suezmax shuttle tankers, two MR tankers and five LR1 tankers under construction and the remaining yard installments to be paid for those vessels as at December 31, 2024 amounted to $725.7 million. The amount of $339.3 million is due to be paid in 2025, the amount of $178.3 million in 2026, the amount of $146.5 million in 2027 and $61