Tsakos Energy Navigation Ltd (N:TNP)
Business Focus: Sea-Borne Tankers
| Sector: Energy | Industry: Oil & Gas Transportation Services |
| Company Contact | |
| Address: | 367 Syngrou Avenue, P. Faliro ATHINA 175 64 |
| Tel: | N/A |
| Website: | https://www.tenn.gr |
| IR: | See website |
| Key People | ||
| Nikolas P. Tsakos President, Chief Executive Officer, Director | Michael Gordon Jolliffe Vice Chairman of the Board, Director | Paul Durham Chief Financial Officer, Chief Accounting Officer |
| George V. Saroglou Chief Operating Officer, Vice President, Director | Vasileios Papageorgiou Chief Marine Officer | |
| Business Overview |
| Tsakos Energy Navigation Ltd is a Greece-based provider of international seaborne crude oil and petroleum product transportation services. The Company operates through the maritime transportation of liquid energy-related products segment. The Company's fleet consists of 70 vessels, constituting a mix of crude tankers, product tankers, and liquefied natural gas (LNG) carriers, totaling more than 7 million dwt. It includes VLCC, Aframax, Panamax, handysize, handymax tankers, LNG carrier, and DP2 shuttle tankers, which allows the Company to serve its customers' international petroleum product and crude oil transportation needs. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Tsakos Energy Navigation Ltd revenues increased 3% to $889.6M. Net income applicable to common stockholders increased 59% to $266.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from (Gain) Loss on sale of vessels decrease from $440K (expense) to $81.2M (income), Interest Income increase from $2M to $14.6M (income). |
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