SOURCE: Tsakos Energy Navigation

Tsakos Energy Navigation

August 30, 2012 09:10 ET

Tsakos Energy Navigation to Participate at the Jefferies 2012 Global Shipping Conference

ATHENS, GREECE--(Marketwire - Aug 30, 2012) - Tsakos Energy Navigation Limited ("TEN" or the "Company") (NYSE: TNP) today announced that the management of the company will be presenting at the Jefferies 2012 Global Shipping Conference in New York City on Wednesday, September 5, 2012.

A PDF version of the slide presentation used at the conference will be available on the Company's website at www.tenn.gr.

About Tsakos Energy Navigation
To date, TEN's pro forma fleet consists of 51 double-hull vessels of 5.5 million dwt. This figure includes one LNG carrier and two DP2 suezmax shuttle tankers under construction totaling 400,000 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. The Company has an option for a third LNG carrier to be declared no later than October 2012, totaling 86,000 dwt.

TEN's employment profile (operating fleet as of August 30, 2012):

Period Employment - Fixed, fixed w/profit share & min max (30)
Pool - market related (4)
Spot - market related (14)

TEN's current newbuilding program:

  • Suezmax Shuttle DP2 157,000dwt Q1 2013
  • Suezmax Shuttle DP2 157,000dwt Q2 2013
  • LNG TBN 86,000dwt/162,000 cbm Tri-Fuel Q1 2015
  • LNG TBN 86,000dwt/162,000 cbm Tri-Fuel Q4 2015 (option)

(All vessels are Double Hull)

Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange Act of 1934, as amended). Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. Statements contained in this press release are based upon information presently available to the Company and assumptions that the Company believes to be reasonable. The Company is not assuming any duty to update this information should those facts change or should the Company no longer believe the assumptions to be reasonable. These statements are subject to risks and uncertainties, including without limitation, general market conditions, the market for the Company's common shares, the performance of the Company's business and other risks detailed from time-to-time in the Company's filings with the Securities and Exchange Commission.

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

    Tsakos Energy Navigation Limited
    (TEN)
    367 Syngrou Avenue
    175 64 P. Faliro, Hellas
    Tel:30 210 94 07 710-3
    Fax:30 210 94 07 716
    e-mail:ten@tenn.gr
    Website:http://www.tenn.gr