Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 4

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 4
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:----------------------------------------------------------------------------|:-----|----------------------------:|:----|:-----|--------:|:----|:-----|--------------------------:|:----|:-----|--------:|
| Voyage revenues                                                             | $    |                     193,309 |     | $    | 214,055 |     | $    |                   390,360 |     | $    | 415,644 |
| Less: Voyage Expenses                                                       |      |                     -31,917 |     |      | -41,403 |     |      |                   -67,980 |     |      | -83,423 |
| Add: Representative operating expenses for Bareboat charter ($10,000 daily) |      |                       3,640 |     |      |   3,640 |     |      |                     7,240 |     |      |   7,280 |
| Time charter equivalent revenues                                            | $    |                     165,032 |     | $    | 176,292 |     | $    |                   329,620 |     | $    | 339,501 |
| Divided by: net earnings (operating) days                                   |      |                       5,364 |     |      |   5,150 |     |      |                    10,718 |     |      |  10,036 |
| Average TCE per vessel per day                                              | $    |                      30,767 |     | $    |  34,235 |     | $    |                    30,754 |     | $    |  33,830 |

| 3 |

Voyage expenses

Voyage expenses include costs that are directly related to a voyage, such as port charges, agency fees, canal dues and bunker (fuel) costs. These voyage expenses are borne by the Company unless the vessel is on time-charter or operating in a pool, in which case they are borne by the charterer or by the pool operators. Commissions on revenue are included in voyage expenses and they are borne by the Company for all types of charter.

Voyage expenses for the three months ended June 30, 2025 and 2024 were:

|                         | Voyage expenses 
            2025 |     |      2024 |     |                     |     | Average daily voyage expenses per relevant vessel 
                                              2025 |     |   2024 |     |                     |
|:------------------------|----------------:|:----|