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Tsakos Energy Navigation Ltd. - TNP STOCK NEWS

Welcome to our dedicated page for Tsakos Energy Navigation Ltd. news (Ticker: TNP), a resource for investors and traders seeking the latest updates and insights on Tsakos Energy Navigation Ltd. stock.

Tsakos Energy Navigation Ltd. (symbol: TNP) is a prominent maritime company specializing in the seaborne transportation of crude oil and petroleum products. With a fleet that serves both national and international independent oil companies and refiners, TNP ensures the safe and efficient delivery of energy products across the globe.

Founded with a commitment to excellence, Tsakos Energy Navigation Ltd. generates revenue through various charter agreements, including time, bareboat, and voyage charters, as well as contracts of affreightment and pool arrangements. These diversified contracts help stabilize income and reduce market risk, positioning TNP as a reliable partner in the maritime industry.

The company’s fleet includes modern, state-of-the-art vessels equipped with advanced technology to ensure environmental compliance and operational efficiency. TNP is continuously investing in new projects and fleet upgrades to meet the evolving demands of the global energy market.

Recent achievements highlight TNP’s strategic growth and resilience in the face of market fluctuations. The company has secured long-term contracts with blue-chip clients and expanded its portfolio to include more versatile and eco-friendly vessels. These initiatives not only enhance TNP’s market position but also demonstrate its commitment to sustainability and innovation.

Financially, Tsakos Energy Navigation Ltd. maintains a solid balance sheet with prudent financial management. This stability allows the company to navigate economic uncertainties while pursuing growth opportunities. Strategic partnerships and collaborations further bolster TNP’s market presence and operational capabilities.

For the latest updates on Tsakos Energy Navigation Ltd., including recent news and developments, consider visiting the StockTitan website frequently to stay informed. Whether you are an investor, industry professional, or simply interested in maritime transportation, TNP’s updates offer valuable insights into the company's performance and future prospects.

Contact Information:
George Saroglou, President & COO
Phone: +30210 94 07 710
Email: gsaroglou@tenn.gr

Investor Relations / Media:
Capital Link, Inc.
Nicolas Bornozis and Markella Kara
Phone: +212 661 7566
Email: ten@capitallink.com

Rhea-AI Summary
Tsakos Energy Navigation (TEN) received the 'Tanker Company of the Year' award at the 20th Lloyd’s List Greek Shipping event in Athens. The award recognizes TEN’s outstanding company performance and significant contribution to the shipping industry. This is TEN’s third recognition in these awards over the years, highlighting its uninterrupted dividend distribution record and investment in new technology vessels.
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TEN, Ltd (TEN) (TNP) reported a 160% increase in net income to $272 million in the first nine months of 2023. The company distributed a $1.00 per share common stock dividend in 2023 and redeemed $108.3 million in at-par preferred shares in Q3 2023. TEN's fleet generated gross revenues of $669 million, reflecting the strength of the tanker market. The company's strategy and outlook remain positive, with over $1.4 billion in secured revenue backlog.
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TEN Ltd. (NYSE: TNP) declares a regular quarterly cash dividend of $0.578125 per share for its Series E Cumulative Perpetual Preferred Shares (TNPPRE) payable on November 28, 2023 to holders of record as of November 22, 2023.
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TEN, Ltd. will report earnings for the third quarter ended on September 30, 2023, prior to the open of the market in New York on Tuesday, November 21, 2023. The company will also host a conference call to review the results and management's outlook for the business at 10:00 a.m. Eastern Time on the same day.
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TEN Ltd. celebrates its 30th year as a publicly listed company
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TEN Ltd. declares regular quarterly cash dividend for Series F Preferred Shares
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$520 million in gross contracted revenues over project's life. Greenship initiative commences with the delivery of the first LNG powered aframax tanker. Nine more vessels expected to be introduced over the next ten quarters. The four-vessel industrial program is expected to reach $520 million in gross revenues.
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TEN reports over 350% increase in net income to $237 million in H1 2023. Long-term market fundamentals remain strong. New charters secure over $1.5 billion in fleet revenue backlog. Positive fleet performance and cash reserves increase. Debt decreases to $1.38 billion. Dividends of $138 million paid. Two scrubber-fitted MR product tankers ordered. $0.30 per share dividend in December 2023. Corporate strategy focuses on capital allocation and green vessel investments.
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TEN, Ltd. will report Q2 2023 earnings on September 7, 2023. Conference call to discuss results and outlook will follow.
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FAQ

What is the current stock price of Tsakos Energy Navigation Ltd. (TNP)?

The current stock price of Tsakos Energy Navigation Ltd. (TNP) is $29.28 as of June 28, 2024.

What is the market cap of Tsakos Energy Navigation Ltd. (TNP)?

The market cap of Tsakos Energy Navigation Ltd. (TNP) is approximately 863.9M.

What does Tsakos Energy Navigation Ltd. do?

Tsakos Energy Navigation Ltd. specializes in the seaborne transportation of crude oil and petroleum products.

How does TNP generate revenue?

TNP generates revenue through charter agreements, including time, bareboat, and voyage charters, contracts of affreightment, and pool arrangements.

Who are TNP's clients?

TNP's clients include national and international independent oil companies and refiners.

What recent achievements has TNP made?

TNP has secured long-term contracts with blue-chip clients and expanded its fleet with versatile and eco-friendly vessels.

What types of vessels does TNP operate?

TNP operates a modern fleet equipped with advanced technology to ensure environmental compliance and operational efficiency.

How does TNP maintain financial stability?

TNP maintains financial stability through prudent financial management and a solid balance sheet, allowing it to navigate economic uncertainties.

Does TNP focus on sustainability?

Yes, TNP is committed to sustainability, investing in eco-friendly vessels and technologies to meet global environmental standards.

Where can I find the latest news about TNP?

The latest news about TNP can be found on the StockTitan website, which provides updates on the company's performance and developments.

Who is the President & COO of TNP?

George Saroglou is the President & COO of Tsakos Energy Navigation Ltd.

How can I contact TNP for investor relations?

For investor relations, you can contact Capital Link, Inc. via phone at +212 661 7566 or email at ten@capitallink.com.

Tsakos Energy Navigation Ltd.

NYSE:TNP

TNP Rankings

TNP Stock Data

863.92M
29.51M
26.86%
20.42%
0.94%
Oil & Gas Midstream
Energy
Link
United States of America
Athens