SOURCE: Tsakos Energy Navigation

Tsakos Energy Navigation

April 18, 2012 12:00 ET

Tsakos Energy Navigation Ltd. Announces Availability of Form 20-F for the Year Ended December 31, 2011

ATHENS, GREECE--(Marketwire - Apr 18, 2012) - Tsakos Energy Navigation Ltd. ("TEN") (NYSE: TNP) announced today that its Annual Report on Form 20-F for the year ended December 31, 2011 has been filed with the Securities and Exchange Commission and can be accessed on the Company's website.

Shareholders may also request a hard copy of the complete audited financial statements, free of charge, by clicking on the annual report prompt under the Contact Us section of the Company's website, http://www.tenn.gr.

Alternatively, shareholders may request a hard copy of the complete audited financial statements, free of charge, by contacting the Company's Investor Relations Advisor at:

Capital Link Inc.
230 Park Avenue, Suite 1536
New York, NY 10169 USA
Tel: (+) 1 212 661 7566
ten@capitallink.com

The Annual Report, other reports and other information regarding the Company are also available without charge at a website maintained by the U.S. Securities and Exchange Commission at http://www.sec.gov.

ABOUT TSAKOS ENERGY NAVIGATION
To date, TEN's pro forma fleet consists of 51 double-hull vessels of approximately 5.5 million dwt that includes one LNG carrier and two DP2 suezmax shuttle tankers totaling 400,000 dwt. The company has options for two conventional suezmax tankers and an additional LNG carrier to be declared no later than September 2012, totaling 402,000 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 two LNG carriers.

TEN's employment profile (operating fleet as of April 12, 2012):

Type of Employment Vessels
Period Employment - Fixed, fixed w/profit share & min max 31
Pool - market related 5
Spot - market related 12

TEN's current newbuilding program:

Suezmax DWT Hull Type / Design Expected Delivery
1. Suezmax DP2 157,000 DH Q1 2013
2. Suezmax DP2 157,000 DH Q2 2013
LNG
1. TBN 86,000 Tri-Fuel Q1 2015
Newbuilding Options
LNG
1. TBN 86,000 Tri-Fuel Q4 2015
Suezmax
1. S2032 158,000 DH Q2 2012
2. S2033 158,000 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.

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
    Paul Lampoutis
    +212 661 7566
    ten@capitallink.com