Greek shipowner Tsakos Energy Navigation (TEN) celebrated its 30th year as a publicly listed company. TEN was listed on the Oslo Stock Exchange in 1993 and transferred its listing to the New York Stock Exchange in March 2002.
Dr. Nikolaos P. Tsakos, Founder, and CEO and his family hosted on October 10 a memorable event in New York City along with members of the executive team, in the presence of distinguished guests from the international shipping industry, banking and investment communities to mark this occasion.
The Greek shipowner celebrated its journey which began 30 years ago with a fleet of four tankers, to becoming one of the largest independent transporters of energy in the world, owning a versatile fleet of 68 modern crude and product tankers, shuttle tankers and LNG vessels.
As the owner reveals, over its 20-year presence on New York Stock Exchange, TEN has generated net income in excess of $2.5 billion and has made uninterrupted payments of common and preferred dividends in excess of $750 million, regardless of market cyclicality.
Tsakos was among the first tanker companies to embrace the double hull vessel concept in the design and as it is said today by Nikolaos P. Tsakos, the company remains committed to fleet modernization and green energy transition.
TEN has implemented a $6.0 billion newbuilding program on fleet expansion and renewal, whilst it has secured over $2.5 billion in fleet revenue backlog.
TEN took delivery on September 25 of an LNG powered Aframax tanker, Njord DF, the first in a series of four high-spec eco designed vessels built against long-term employment to a major European state-owned oil concern.
The introduction of this vessel “kickstarts” the delivery of the company’s existing green growth program, with now nine remaining vessels, which are expected to be gradually introduced to its fleet over the next ten quarters.
Dr. Nikolaos P. Tsakos, founder and chief executive of the company commented: “This exceptional moment represents a significant milestone in our history as a publicly traded company that not only celebrates its achievements but more importantly, it propels us to look ahead into our next chapter and continue to push forward to better our business and our practices. We are grateful and appreciative to all our associates for their efforts so far and remain enthusiastic as we embark on the next phase of the company’s development for the benefit of our shareholders.”
The company´s fleet currently consists of 68 double-hull vessels, including four dual-fuel LNG powered aframax vessels, two DP2 shuttle tankers, two scrubber-fitted suezmax vessels and two scrubber-fitted MR product tankers under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 8.4 million dwt.
