Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 43

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 43
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 $ 31,437for the second quarter of 2024. For the six months ended June 30, 2025, interest expense was $ 52,064compared to $ 60,931for the six months ended June 30, 2024.

Capitalized interest is based on expenditure incurred to date on vessels under construction. Capitalized interest amounted to $ 3,128and $ 5,672for the three and six-month periods ended June 30, 2025, compared to $ 1,802and $ 3,245for the equivalent periods of 2024.

In 2022, the Company discontinued ten of its cash flow hedge interest rate swaps through early termination agreements. The Company considered the forecasted transactions as still probable for seven of those interest rate swaps,and presented the amount received in Accumulated other comprehensive income. Respective amounts are amortized into Company’s earnings until the expiry date of each interest rate swap. For the second quarter of 2025, amortization of deferred gain on termination of hedging interest rate swaps amounted to $ 225(positive) and $ 882(positive) for the prior year’s second quarter. For the first half of 2025, amortization of deferred gain on termination of hedging interest rate swaps amounted to $ 733(positive) and $ 2,094(positive) for the prior year’s first half.

On April 3, 2025, the Company committed to onefloating-to-fixed interest rate swap with a major financial institution maturing September 2026 with an option for extension at the financial institution’s discretion until March 2029, on which it pays fixed rate of 2.955% and receives floating rates based on the three-month SOFR. The interest rate swap agreement was designated and qualified as a non-hedging interest rate swap.

On April 3, 2025, the Company committed to onefloating-to-fixed interest rate swap with a major financial institution maturing November 2026 with an option for extension at the financial institution’s discretion until May 2029, on which it pays fixed rate of 2.88% and receives floating rates based on the three-month SOFR. The interest rate swap agreement was designated and qualified as a non-hedging interest rate swap.

On June 24, 2025, the Company committed to onefloating-to-fixed interest rate swap with a major financial institution maturing November 2026 with an option for extension at the financial