Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 53

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 53
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 Shipping for every charter involving the vessels in the fleet. The total amount paid for these chartering brokerage commissions was $9.7 million in 2024, $11.0 million in 2023 and $10.7 million in 2022. In addition, Tsakos Shipping may charge a brokerage commission on the sale of a vessel. In 2024, the suezmax tankers, Eurochampion 2004, Euronike, the aframax tankersIzumo Princess, Nippon Princessand the LNG carrier, Neo Energywere sold and for this service Tsakos Shipping charged $1.2 million, representing 0.5% of the sale price. In 2023, six handymax tankers, Artemis, Afrodite, Ariadne, Aris, Apollon, Ajaxand two handysize tankers Arionand Amphitritewere sold and for this service Tsakos Shipping charged $0.8 million, representing 0.5% of the sale price. In 2022, the aframax tanker Proteasand the panamax tanker Incawere sold and for this service Tsakos Shipping charged $0.3 million, representing 1.0% of the sale price. Tsakos Shipping may also charge a fee on delivery of each new building vessel in payment for the cost of design and supervision of the new building by Tsakos Shipping. In 2024, $1.0 million in aggregate was charged for supervision fees of the aframax tankers Njord DF, Ran DF, Chios DFandIthaki DF, which were delivered in the third and fourth quarter of 2023 and the first quarter of 2024, respectively. In 2023, $0.5 million in aggregate was charged for supervision fees of the LNG carrier, Tenergyand the DP2 shuttle tanker, Porto, which were delivered in the first and third quarter of 2022, respectively. In 2022, no such fee was charged.

Tsakos Shipping supervises the post fixture business of our vessels, including:

  monitoring the daily geographic position of such vessels in order to ensure that the terms and conditions of the charters are fulfilled by us and our charterers;  

  collection of monies payable to us; and  

  resolution of disputes through arbitration and legal proceedings.  

In addition, Tsakos Shipping appoints superintendents to supervise the construction of new buildings and the loading