Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 31

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 31
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 ENERGY NAVIGATION LIMITED AND SUBSIDIARIES NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) JUNE 30, 2025 AND 2024 (Expressed in thousands of U.S. Dollars, except for share and per share data, unless otherwise stated)

(b) Tsakos Shipmanagement S.A. (“TSM”):TSM provided technical management to the Company’s vessels up to February 2023.

No technical services were provided by TSM for the first half of 2025 and the prior year first half. As of June 30, 2025, the amount due from TSM was $ 2,608($ 2,623at December 31, 2024).

(c) Tsakos Shipping and Trading S.A. (“ TST”): TST provides technical management to the Company’s vessels. The Management Company, at its own expense, pays technical management fees to TST, and the Company bears and pays directly to TST most of its operating expenses, including repairs and maintenance, provisioning and crewing of the Company’s vessels, as well as certain charges which are capitalized or deferred, including reimbursement of the costs of TST personnel sent overseas to supervise repairs and perform inspections on the Company’s vessels. TST for technical services rendered charged $ 681for the second quarter of 2025 and $ 409for the prior year second quarte r. For the first half of 2025, charges amounted to $ 1,196compared to $ 1,013for the prior year first half, included in operating expenses in the accompanying consolidated statements of comprehensive income.

At June 30, 2025, the amount due to TST as technical manager was $ 539($ 176due from TST at December 31, 2024).

TST provides chartering services for the Company’s vessels by communicating with third party brokers to solicit research and propose charters. For this service, the Company pays TST a chartering commission of approximately 1.25% on all freights, hires and demurrages. Such commissions are included in voyage expenses in the accompanying consolidated statements of comprehensive income. TST also provides sale and purchase of vessels brokerage service. For this service, TST may charge brokerage commissions. In the first half of 2025 and 2024, TST charged a brokerage commission of $ 203for the sale of the suezmax tanker Pentathlon,and $