Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 227

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 227
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 daily rate of $42.9, based on ten-year historical average for LNG carriers. Based on this evaluation the Company determined that the carrying value of the LNG carrier Neo Energy 114,367 has been written down to $ 88,000, and an impairment charge of $ 26,367 has been recorded. In 2022, there was no indication of an impairment charge.

Impairment charges are separately reflected in the accompanying consolidated statements of comprehensive income.

5. Deferred Charges and leasehold improvements

Deferred charges, consisting of dry-docking and special survey costs, net of accumulated amortization, amounted to $ 38,135 33,682 Antarctic Sakura Princess 975, 4,631 Archangel, Alaska Arctic, Antarctic Sakura Princess,

6. Long - term debt and other financial liabilities

Long-term debt

Long-term debt (Table)

  Facility                                                                     2024            2023  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────
  Loans                                                                   1,605,654       1,411,779  
  Less: Deferred finance costs, net                                        ( 8,495)        ( 8,046)  
  Total long-term debt                                                    1,597,159       1,403,733  
  Less: Current portion of debt                                          ( 245,475)      ( 185,516)  
  Add: Deferred finance costs, current portion                                2,739           2,532  
  Long-term debt, net of current portion and deferred finance costs       1,354,423       1,220,749  

Loan balances outstanding at December 31, 2024, amounted to $ 1,605,654. These bank loans are payable in U. S. Dollars in semi-annual May 2025 and September 2033 Interest rates on the outstanding loans as at December 31, 2024, are based on Secured Overnight Financing Rate (“ SOFR”) plus a spread.

On March 1, 2024, the Company signed a new five-year loan agreement amounting to $ 245,000 to finance the acquisition of the five vessels, Alpes, Popi Sazaklis, Aspen, DF MystrasandDF Montmartre. The new loan is repayable in ten semi-annual 2,012.5 28,175 2,012.5 28,175 1,615.5 25,845 1,565 37