Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 77

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 77
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stances by Sea, created in 1996 and as amended by the Protocol adopted in April 2010 (as amended, the “ HNS Convention”) if it enters into force. The HNS Convention would create a regime of liability and compensation for damage from hazardous and noxious substances (“ HNS”), including a two-tier system of compensation composed of compulsory insurance taken out by shipowners and an HNS fund which comes into play when the insurance is insufficient to satisfy a claim or does not cover an incident. In March 2020, EU ministers signed a declaration highlighting the importance of the ratification of international maritime conventions, including the 2010 HNS Convention with a target of May 2021 for ratification by EU Member States. In May 2020 France passed legislation preparing for the ratification of the HNS Protocol 2010. In January 2022, Estonia became the sixth country to deposit instruments of ratification of the HNS Protocol 2010 (joining Canada, Denmark, Norway, South Africa and Turkey). France and Slovakia ratified the Convention in October 2023, and November 2023 respectively. To date however, the HNS Convention has not been ratified by a sufficient number of countries to enter into force. Specifically, the Convention requires at least 12 States to ratify or accede to the Protocol, in addition to other conditions. Currently, eight (8) States (Canada, Denmark, Estonia, France, Norway, South Africa, Slovakia, and Turkey) have consented to be bound by the HNS Convention.

  ii.      International Labour Organization’s Maritime Labour Convention ("MLC 2006")  

The Maritime Labour Convention. The International Labour Organization’s Maritime Labour Convention was adopted in 2006 (“ MLC 2006”). The basic aims of the MLC 2006 are to ensure comprehensive worldwide protection of the rights of seafarers (the MLC 2006 is sometimes called the Seafarers’ Bill of Rights) and to establish a level playing field for countries and ship owners committed to providing decent working and living conditions for seafarers, protecting them from unfair competition on the part of substandard ships. The MLC 2006 was ratified on August 20, 2012, and all our vessels were certified by August 2013, as required. Since January 18, 2017, all ships which are subject to the MLC have been required to carry and display on board two certificates confirming that financial security is in place for