Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 1

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 3
Chunk 1
---
 report for a more thorough description of these and other risks.

Risks Related To Our Industry

  The tanker industry is cyclical, resulting in charter rates that can be volatile. Poor charter markets for crude oil and product tankers may adversely affect our future revenues and earnings.  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

  Disruptions in global economic conditions, including as a result of the conflicts in Ukraine and the Middle East, as well as protectionist trade measures, including the tariffs recently imposed...  

  The tanker industry is highly dependent upon the crude oil and petroleum products industries, with the level of availability and demand for oil and petroleum products impacting demand for tanke...  

  An increase in the supply of vessels could cause charter rates to decline, adversely affecting our results.  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────

  We face substantial competition for charters, including from state and independent oil companies.  

  We operate internationally, and terrorist attacks, international hostilities, economic sanctions and economic conditions could adversely affect our business.  

  Failure to comply with the U. S. Foreign Corrupt Practices Act and other anti-bribery legislation could result in fines, criminal penalties, contract terminations and adversely affect our busin...  

  We are subject to regulation and liability under environmental, health and safety laws that could require significant expenditures, including with respect to climate change and greenhouse gas e...  

  Increasing scrutiny and changing expectations from investors, lenders and other market participants with respect to ESG policies may impose additional costs on us or expose us to additional risks.  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Risks Related To Our Business

  A decline in the future value of our vessels could affect our ability to comply with various covenants in our credit facilities, which are secured by mortgages on our subsidiaries’ vessels.  

  Charters at attractive rates may not be available when our current time charters expire.  
 ────────────────────────────────────────────────────────────────────────────────────────────

  We are dependent on the ability and willingness of our charterers to honor their commitments to us for substantially all our revenues.  

  Contracts for newbuilding vessels present certain economic and other risks.  

  Credit conditions internationally might impact our ability to raise debt financing.  

  The