$3.7 billion of minimum contracted revenues from 82 vessel pro-forma fleet 16-vessel shuttle tanker fleet making TEN on the largest shuttle tanker owners in world ATHENS, Greece, May 01, 2025 (GLOBE NEWSWIRE) -- TEN, Ltd. (TEN) (NYSE: TEN) (the “Company”) today announced the delivery and naming of two DP2 suezmax shuttle tankers, the “Athens 04” and the “Paris 24”, from Samsung Heavy Industries, Co., Ltd. (“Samsung”) in South Korea and concurrent seven-year employment to a European oil major with options to ...

Company Overview - TEN, Ltd. is a well-established public shipping company founded in 1993, celebrating 32 years as a public entity in 2025 [3] - The company operates a diversified energy fleet consisting of 82 vessels, including various types of tankers and carriers, totaling 10.1 million deadweight tonnage (dwt) [3] Financial Reporting - TEN has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (SEC) [1] - The annual report is accessible on TEN's Investor Relations website under the SEC Filings section [1] Shareholder Information - Shareholders can request a hard copy of the annual report free of charge by contacting Capital Link [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date o ...

Tsakos Energy Navigation (TEN) Q4 2024 Earnings Call March 27, 2025 10:19 PM ET Company Participants Nicolas Bornozis - President & CEOEfstratios Georgios Arapoglou - Chairman of the BoardNikolas Tsakos - Founder, CEO & Executive DirectorGeorge Saroglou - COO, President & Executive DirectorHarrys Kosmatos - Co-CFO Conference Call Participants Poe Fratt - Equity Research Analyst - TransportationClement Mullins - Analyst Operator Good morning to all. Thank you for standing by, ladies and gentlemen, and welcom ...

Tsakos Energy Navigation Limited (NYSE:TEN) Q4 2024 Earnings Conference Call March 27, 2025 11:00 AM ET Company Participants Nicolas Bornozis - Investor Relations, Capital Link Takis Arapoglou - Chairman of the Board Nikolas Tsakos - Founder & Chief Executive Officer George Saroglou - President & Chief Operating Officer Harrys Kosmatos - Co-Chief Financial Officer Conference Call Participants Poe Fratt - Alliance Global Partners Climent Molins - Value Investor's Edge Operator Good morning to all. Thank you ...

Q4 & YE 2024 Earnings Presentation March 27, 2025 TEN, Ltd. This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ mate ...

Core Insights - TEN, Ltd. has reported significant growth in its fleet and financial performance, with a proforma fleet of 82 vessels and a minimum revenue backlog of $4.0 billion, indicating strong future cash flow visibility [20][22] - The company generated gross revenues of $804.1 million and net income of $176.2 million for the year 2024, translating to an annual EPS of $5.03 [4][8] - The adjusted EBITDA for 2024 reached approximately $400 million, reflecting the increased size of the fleet and efficient management [5][30] Financial Performance - For the twelve months of 2024, TEN's operating income was $278.6 million, after accounting for $48.7 million in capital gains from vessel sales [4][30] - In Q4 2024, the company reported gross revenues of $188.3 million and net income of $19.3 million, with an EPS of $0.42 [8][30] - Fleet utilization for 2024 was at 92.5%, with an average TCE per ship per day of $32,550 [4][29] Fleet Expansion and Strategy - TEN is expanding its fleet with 21 new vessels, resulting in a 36% growth in deadweight tonnage (dwt) [1][20] - The company has secured long-term contracts for nine DP2 shuttle tankers with Brazil's Transpetro, expected to generate $2.0 billion in revenues [2][13] - The ongoing fleet renewal includes the sale of older vessels, such as a 2009-built suezmax, generating $30 million in free cash [2][14] Market Outlook - The tanker market fundamentals remain strong, supported by geopolitical events and a favorable supply-demand balance [15][16] - TEN's strategy focuses on building vessels for long-term needs of blue-chip customers while exploring divestment opportunities for older tankers [17][19] - The company aims to maintain uninterrupted dividend payments, having distributed a total of $895 million since its NYSE listing in 2002 [2][12]

Core Viewpoint - TEN, Ltd has announced the construction of nine DP2 Suezmax Shuttle Tankers with expected gross revenues of approximately $2.0 billion, solidifying its position as one of the largest independent Shuttle tanker operators globally [1][2]. Group 1: Company Developments - The nine new vessels will be built at Samsung Heavy Industries in South Korea, with deliveries scheduled for 2027 and 2028 [1]. - TEN currently has a proforma fleet of 16 DP2 Suezmax Shuttle tankers, making it one of the world's largest Shuttle tanker owners [2]. - The charter for these vessels will be in the form of a bareboat, with the charterer assuming all operating and technical costs during the employment period [2]. Group 2: Historical Context and Growth - Over the years, TEN has strategically targeted opportunities to build modern vessels, enhancing its status as a diversified energy transporter [3]. - Significant past milestones include the acquisition of nine ice-strengthened vessels in 2007 and nine Aframax vessels contracted by Equinor in 2014, which established TEN as a major player in various tanker classes [3]. - In early 2024, TEN expanded its fleet by acquiring a five-vessel modern fleet from Norway's Viken Crude, becoming one of the largest operators of Dual-Fuel LNG vessels [3]. Group 3: Financial Stability and Future Outlook - The company's industrial approach to fleet employment has provided cash flow stability, visibility, and flexibility, allowing it to capitalize on opportunities while maintaining the ability to reward shareholders with healthy dividends [4]. - TEN is positioned as a preferred partner for the long-term needs of major oil companies, with ongoing construction of three Shuttle tankers and the new nine vessels enhancing its operational capacity [4]. Group 4: Company Overview - Founded in 1993, TEN is one of the first and most established public shipping companies, currently operating a diversified fleet of 83 vessels, including various types of tankers and carriers, totaling 10.2 million deadweight tonnage (dwt) [5].

ATHENS, Greece, March 14, 2025 (GLOBE NEWSWIRE) -- TEN Ltd. ("TEN") (NYSE:TEN) (the "Company"), a leading diversified crude, product and LNG tanker operator, today announced that the Company will report earnings for the fourth quarter and year ended December 31, 2024, prior to the open of the market in New York on Thursday, March 27, 2025. That same day, at 11:00 a.m. Eastern Time, TEN will host a conference call to review the results as well as the management's outlook for the business. The call, which wil ...

Company Overview - TEN Ltd. is a leading diversified operator in the crude, product, and LNG tanker sector, with a fleet of 74 vessels totaling 8.9 million deadweight tons (dwt) [4] - The company was founded in 1993 and is celebrating 32 years as a public company this year [4] Leadership and Contributions - Mr. D. John Stavropoulos, former Chairman of Tsakos Energy Navigation from 1994 to 2014, passed away at the age of 92 [1][3] - He had a distinguished 33-year career at The First National Bank of Chicago, serving as Executive Vice President and Chief Credit Officer [2] - Stavropoulos was a mentor and friend to Dr. Nikolaos P. Tsakos, the Founder & CEO of TEN, and his business acumen significantly influenced the company's direction [3] Industry Recognition - Mr. Stavropoulos was among the first in the U.S. to receive the Certified Financial Analyst designation and served on the Presidential Credit Standards Advisory Committee [2] - He also taught economics and finance at Northwestern University and was involved with the EMEA Alumni Advisory Board of the Kellogg School of Management [2]