Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 37

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 37
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 June 30, 2025, the Company considered that the handysize tankers Aegeasand Andromedaand the aframax tanker Ise Princessmet the criteria enumerated under ASC 360 “Property, Plant, and Equipment” to be classified as held for sale.

At December 31, 2024, there were no vessels held for sale.

Sales

During the second quarter of 2025, there were no vessel sales. During the second quarter of 2024, the Company sold its suezmax tanker Euronike, the aframax tankers Izumo Princessand Nippon Princessand its LNG carrier Neo Energy,realizing total net gain of $ 32,495.

During the first half of 2025, the Company sold its suezmax tanker Pentathlon,realizing total gain of $ 3,553.

During the first half of 2024, the Company sold its suezmax tankers Eurochampion 2004and Euronike, the aframax tankers Izumo Princessand Nippon Princessand its LNG carrier Neo Energy,realizing total net gain of $ 48,662.

Impairment

As of June 30, 2025, and December 31, 2024, the Company reviewed the carrying amount including any unamortized dry-docking costs in connection with the estimated recoverable amount and the probability of sale for each of its vessels, vessels under construction, vessels held for sale and right-of-use-assets. As of June 30, 2025, and December 31, 2024, this review did not indicate an impairment charge.

6. Deferred charges and leasehold improvements

Deferred charges consisting of dry-docking and special survey costs, net of accumulated amortization, amounted to $ 28,526and $ 38,135, at June 30, 2025 and December 31, 2024, respectivel y. Leasehold improvements amounted to $ 1,910at June 30, 2025 for the suezmax tankers Arctic, Antarctic,and the aframax tanker Sakura Princessand $ 975, at December 31, 2024. Amortization of deferred dry-docking costs and of leasehold improvements is included in depreciation and amortization in the accompanying consolidated statements of comprehensive income.

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TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATE