SOURCE: Tsakos Energy Navigation Limited

Tsakos Energy Navigation Limited

July 18, 2011 09:00 ET

Tsakos Energy Navigation Announces Second Quarter 2011 Financial Results Release Date, Conference Call and Webcast

ATHENS, GREECE--(Marketwire - Jul 18, 2011) - Tsakos Energy Navigation Limited ("TEN" or the "Company") (NYSE: TNP) will report earnings for the second quarter ended June 30, 2011 prior to the open of the market on Thursday, July 28, 2011.

That same morning, at 10:00 a.m. Eastern Time, TEN will also host a conference call to review the results as well as management's outlook for the business. The call, which will be hosted by TEN's senior management, may contain information beyond what is included in the earnings press release.

Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 866 819 7111 (US Toll Free Dial In), 0800 953 0329 (UK Toll Free Dial In) or +44 (0)1452 542 301 (Standard International Dial In). Please quote "Tsakos" to the operator.

A telephonic replay of the conference call will be available until August 4, 2011 by dialing 1 866 247 4222 (US Toll Free Dial In), 0800 953 1533 (UK Toll Free Dial In) or +44 (0)1452 550 000 (Standard International Dial In). Access Code: 90295809#

Simultaneous Slides and Audio Webcast:
There will also be a simultaneous live, and then archived, slides webcast of the conference call, available through TEN's website (www.tenn.gr). The slides webcast will also provide details related to fleet composition and deployment and other related company information. This presentation will be available on the Company's corporate website reception page at www.tenn.gr. Participants for the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

ABOUT TSAKOS ENERGY NAVIGATION
To date, TEN's pro forma fleet consists of 50 double-hull vessels of 5.4 million dwt that includes one suezmax tanker currently under construction to be delivered in July 2011 and two suezmax DP2 shuttle tankers for expected delivery in 2012 totaling 472,000 dwt. TEN's balanced fleet profile is reflected in 23 crude tankers ranging from VLCCs to aframaxes and 26 product carriers ranging from aframaxes to handysize and one LNG carrier.

TEN's employment profile (operating fleet):

Type of Employment Vessels
Period Employment - Fixed, fixed w/profit share & min max 28
CoA - market related 1
Pool - market related 6
Spot - market related 12

TEN's current newbuilding program:

Suezmax DWT Hull Type / Design Expected Delivery
1. S2035 158,000 DH July 2011
2. Suezmax DP2 157,000 DH Q4 2012
3. Suezmax DP2 157,000 DH Q1 2013

DH: Double Hull

FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Visit our company website at: http://www.tenn.gr

Contact Information

  • For further information, please contact:

    Company
    Tsakos Energy Navigation Ltd.
    George Saroglou, COO
    +30210 94 07 710
    gsaroglou@tenn.gr

    Investor Relations / Media
    Capital Link, Inc.
    Nicolas Bornozis
    Biraj Gyawali
    +212 661 7566
    ten@capitallink.com

    TSAKOS ENERGY NAVIGATION LIMITED
    (TEN)

    367 Syngrou Avenue, 175 64 P. Faliro, Hellas
    Tel:30210 94 07 710-3
    Fax:30210 94 07 716
    e-mail:ten@tenn.gr
    Website:http://www.tenn.gr