Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 56

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 56
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 charterers and are included in advances and other in the accompanying consolidated balance sheets as of June 30, 2025.

As of December 31, 2024, the Company has recognized EUAs amounting to $ 12,945, to be surrendered by September 30, 2025, and were included in accrued liabilities in the accompanying consolidated balances sheets. The amount of $ 6,739, are due to be collected from charterers and are included in trade accounts receivable, net in the accompanying consolidated balance sheets and the amount of $ 3,670has been purchased and/or already received from charterers and are included in advances and other in the accompanying consolidated balance sheets.

The value of EUAs provided by charterers recognized under voyage revenues in the Company’s consolidated statements of comprehensive income, amounted to $ 5,097for the second quarter of 2025 compared to $ 1,688, for the prior year second quarter, and $ 8,883for the first half of 2025 compared to $ 3,185for the prior year first half.

The EUAs obligations under the EU ETS recognized under voyage expenses in the Company’s consolidated statements of comprehensive income, amounted to $ 7,468for the second quarter of 2025 compared to $ 2,604, for the prior year second quarter, and $ 13,025for the first half of 2025 compared to $ 5,118for the prior year first half.

The EUAs obligations are measured at the estimated cost of purchasing credits from the EUA market, based on the voyage completion date. EUAs obligations not reimbursable from charterers are revalued using market prices from an EUA index. During the second quarter of 2025, the Company recorded $ 715 under voyage expenses in the Company’s consolidated statements of comprehensive income for remeasurement of EUAs obligations, compared to $ 6, for the prior year second quarter, and the amount of $ 694 for the first half of 2025, compared to $ 47 for the prior year first half.

16. Subsequent Events

The Company evaluated subsequent events (other than those disclosed above), until the date these interim condensed consolidated financial statements were available to be issued.

| (c) | On July 30, 2025, the Company paid dividends of $0.59375 per share on its 9.50% Series F Preferred Shares. |

| (e) | On August 28,