Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 226

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 226
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 Eurochampion 2004 Euronike 41,545 and $ 27,500, respectively, and recognized both vessels as fixed assets in the accompanying consolidated balance sheets (Note 4).

The amount of $ 5,809 Eurochampion 2004 Euronike 17,916 4,407

4. Vessels

Acquisitions

On January 11 and 19, 2024 the Company took delivery of its newbuilding aframax tankers Chios DF Ithaki DF 156,649. During the first half of 2024, the Company acquired four aframax tankers DF Montmartre, Alpes, DF Mystras, Aspen, Popi Sazaklis 350,000.

On July 19, 2024 August 22, 2024 Alaska Archangel

On February 14, 2023 February 21, 2023 Eurochampion 2004 Euronike, September 21, 2023 October 26, 2023 Njord DF ( Ran DF 155,677

Sales

In 2024, the Company sold its suezmax tankers Eurochampion 2004 Euronike Izumo Princess Nippon Princess 151,779 59,006 Neo Energy, 76,637 10,344

In 2023, the Company sold its handymax tankers, Afrodite, Artemis, Ariadne, Aris, Ajax Apollon Arion Amphitrite, 165,944 81,198

The net (gains) losses from the sale of the vessels are separately reflected in the accompanying consolidated statements of comprehensive income.

Impairment

As of December 31, 2024, the Company reviewed the carrying amount including any unamortized dry-docking costs and leasehold improvements in connection with the estimated recoverable amount and the probability of sale for each of its vessels, vessels under construction and its right-of-use-assets under operating leases, whenever events or changes in circumstances indicated that impairment indicators were present. This review did not indicate an impairment of the carrying value of the Company’s vessels, vessels under construction and its right-of-use-assets under operating leases.

As of December 31, 2023, this review indicated that events and circumstances changed during 2023 and that the carrying amount of the LNG carrier Neo Energy, 7.7%, based on estimated weighted average cost of capital using cost of equity and cost of debt components and