Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 75

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 75
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 Guidelines set out criteria in relation to permissible EGCS. Individual jurisdictions also regulate the use of EGCS which vary (for example from 1 July 2025 ships with open loop scrubbers will be banned from sailing within a range of Danish coastlines. Similarly, use of Exhaust Gas Cleaning systems is also prohibited within Dubai territorial waters).

Since January 1, 2016, NOx after-treatment requirements have also applied.

California implemented a 24 nautical mile zone within which fuel must have a sulfur content of 0.10% or less on January 1, 2014. Currently, the California regulations run in parallel with the emissions requirements in the North American and Caribbean ECAs. Compliance with the North American and Caribbean ECA emission requirements, as well as the possibility that more stringent emissions requirements for marine diesel engines or port operations by vessels will be adopted by the EPA or the states where we operate, could entail significant capital expenditures or otherwise increase the costs of our operations.

Similarly, pursuant to the EU Sulphur Directive, fuel with a sulfur content in excess of 0.1% has not been permitted since January 1, 2015 in any "SOx Emission Control Area" (being any areas defined as such pursuant to MARPOL Annex VI).

At MEPC 80, the MEPC agreed to designate the North-Western Mediterranean Sea as a Particularly Sensitive Sea Area ("PSSA"), meaning it can be protected by shipping route measures, which include navigating with particular caution and requirements such as speed reduction measures for ships. 19 PSSAs have been designated including most recently the Nusa Penida Islands and Gili Matra Islands in the Lombok Strait, in 2024.

In addition, the EU Sulphur Directive has since January 1, 2010 banned inland waterway vessels and ships berthing in EU ports from using marine fuels with a sulfur content exceeding 0.1% by mass. The prohibition applies to use in all equipment including main and auxiliary engines and boilers. Some EU Member States also require vessels to record the times of any fuel-changeover operations in the ship’s logbook.

Tier III standards apply to marine diesel engines that are installed on ships which operates in any so-called Nox Tier III emission control area. These areas are: the North American ECA and the United States Caribbean ECA (for qualifying ships constructed on or after 1 January 2016), the Baltic Sea ECA and the North Sea ECA (for qualifying ships constructed on or