- CEO
- Nikolas Tsakos
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Address
- 367 Syngrou Avenue Athens Greece 175 64
- IPO Date
- Mar 30, 2017
- Business
- Tsakos Energy Navigation Limited Tsakos Energy Navigation Limited (TEN) provides international seaborne transportation services for crude oil, petroleum products, and liquefied natural gas. The company operates a diversified fleet of approximately 70 to 82 vessels exceeding 7 million deadweight tons, including very large crude carriers (VLCCs), Suezmax, Aframax, Panamax, handysize, and handymax tankers; LNG carriers; and DP2 shuttle tankers, serving national oil companies, major integrated oil firms, refiners, and independent traders under long-, medium-, and short-term time charters. Headquartered in Athens, Greece, and founded in 1993, TEN maintains global operations with a focus on energy majors such as ExxonMobil, Equinor, Shell, Chevron, TotalEnergies, and BP.
TEN pursues fleet modernization and expansion, having sold 14 older vessels averaging 17.3 years since early 2023 and acquired or ordered over 20 newer, eco-friendly vessels, including dual-fuel LNG Aframaxes, scrubber-fitted tankers, and shuttle tankers, with deliveries through 2028. Recent initiatives encompass a major contract with Transpetro/Petrobras for nine DP2 shuttle tankers; orders for two VLCCs from Hanwha Ocean and three eco-VLCCs for 2027 delivery; acquisition of five modern environmentally friendly vessels in early 2024; and deliveries of six green vessels in 2024-2025, bolstering a contracted revenue backlog of about $3.7 billion. The company targets a fully green fleet by 2030 while achieving high utilization rates, reaching 96.9% in the first half of 2025, amid strong Q3 2025 financial performance.