Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 47

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 47
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ulled. As of April 4, 2025, the average age of the tankers in our current operating fleet was 10.4 years, compared with the industry average of 13.7 years.

We believe the following factors distinguish us from other public tanker companies:

  Modern, high-quality fleet. We own a fleet of modern, versatile, high-quality tankers that are designed for enhanced safety and low operating costs. Since inception, we have committed to invest...  

  Diversified fleet. Our diversified fleet, which includes VLCC, suezmax, aframax, panamax, handysize tankers, LNG carriers and DP2 suezmax shuttle tankers, allows us to better serve our customer...  
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  Stability throughout industry cycles. Historically, we have employed a high percentage of our fleet on long and medium-term employment with fixed rates or minimum rates plus profit sharing agre...  

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  High-quality, sophisticated clientele. For 50 years, Tsakos entities have maintained relationships with and achieved acceptance by national, and other independent oil companies and refiners. Se...  

  Leading offshore shuttle tanker platform. We have twelve DP2 suezmax shuttle tankers under construction, each with long-term employment contracts, which together with our existing four DP2 suez...  

  Significant leverage from our relationship with TST. We believe the expertise, scale and scope of TST, are key components in maintaining low operating costs, efficiency, quality and safety. We ...  

As of April 4, 2025, our fleet consisted of the following 61 vessels:

  Vessel                       Year      Deadweight          Year      Charter               Expiration of       Hull Type (2)      Cargoes         
  VLCC                                                                                                                                              
  1. Hercules I (4)            2017         300,000          2017      time charter          November 2026                          Crude           
  2. Ulysses                   2016         300,000          2016      time charter          November 2025                          Crude           
  3. Dias I (4)                2020         300,000          2022      time charter          November 2025                          Crude           
  SUEZMAX                                                                                                                                           
  1. Apollo Voyager (12)