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Recent press releases and 8-K filings for TEN.
Tsakos Energy Navigation (TEN) Highlights Strong Market Outlook and Fleet Renewal in 2026 Presentation
TEN
New Projects/Investments
Dividends
Guidance Update
- Tsakos Energy Navigation (TEN) expects a strong market for at least the next two to three years, driven by record oil demand and a limited new building order book for tankers. The company has been recognized as Energy Transporter of the Year by TIME Magazine for the third consecutive year.
- TEN has undertaken a significant fleet renewal program, selling 17 older vessels and replacing them with 33 newer ones, nearly doubling its fleet and tripling deadweight capacity while reducing the average age to 0.6 years. A major new building program includes nine shuttle tankers to be delivered from 2027 through 2028, with one more coming in July 2026.
- The company maintains a strong financial position with debt levels well under 50% and has consistently paid dividends since its inception. TEN announced a $1 dividend for 2025, with the second half of $0.50 payable on February 19, 2026.
Jan 22, 2026, 4:00 PM
TEN Highlights Strong Market Outlook and Fleet Modernization
TEN
Dividends
New Projects/Investments
Guidance Update
- TEN has been named Energy Transporter of the Year by TIME Magazine for the third consecutive year.
- The company has undergone significant fleet renewal, selling 17 older vessels and replacing them with 33 new vessels, nearly doubling its fleet and tripling its deadweight capacity while reducing the average age to 0.6 years.
- Management anticipates a strong market for the next two to three years due to record oil demand exceeding 103 million barrels per day and a limited newbuilding order book of approximately 14% of the current fleet, with many older vessels expected to depart.
- TEN maintains a disciplined financial approach with debt leverage well under 50% and has consistently paid dividends since inception, including a recently announced $1 dividend for which the second $0.50 installment is due on February 19, 2026.
- The company's diversified fleet employment strategy, combining fixed time charters, profit-sharing arrangements, and spot market exposure, aims to safeguard against market downturns while capturing upside.
Jan 22, 2026, 4:00 PM
TEN Provides Update on Fleet Renewal, Market Outlook, and Dividends
TEN
Dividends
New Projects/Investments
Guidance Update
- TEN was named Energy Transporter of the Year by TIME Magazine for the third consecutive year.
- The company completed a significant fleet renewal, selling 17 older vessels and replacing them with 33 new ones, effectively doubling its fleet and tripling its deadweight capacity while reducing the average age to 0.6 years.
- TEN announced a $1 dividend in November 2025, with $0.50 paid in December 2025 and the remaining $0.50 scheduled for payment on February 19, 2026.
- Management anticipates a strong market for the next two to three years, driven by record oil demand, a limited order book, and the need to replace a significant portion of the aging global fleet.
- TEN is expanding its specialized fleet, particularly in shuttle tankers, with nine new shuttle tankers to be delivered from 2027 until the end of 2028 following a tender win in Brazil.
Jan 22, 2026, 4:00 PM
TEN Announces $50 Million Enterprise Lease Agreement with USA Truck
TEN
New Projects/Investments
- TEN (Transportation Equipment Network) announced a $50 million enterprise lease agreement with USA Truck.
- This agreement involves TEN deploying approximately $50 million into a dedicated fleet of 53’ dry van trailers placed on a long-term lease to USA Truck.
- The transaction expands an existing strategic partnership, supporting USA Truck’s near-term operational needs and long-term growth strategy.
- The deal underscores TEN’s ability to deploy capital at scale and deliver tailored fleet solutions.
Jan 14, 2026, 12:30 PM
TEN Ltd. Receives 'Best Deal' Award
TEN
New Projects/Investments
Revenue Acceleration/Inflection
- TEN Ltd. received the 'Best Deal' Award on December 5, 2025, for its landmark expansion into the shuttle tanker space.
- This expansion has established TEN as one of the largest shuttle tanker owners globally, with a pro-forma fleet of 16 vessels, 10 of which are currently under construction.
- The company reports a current revenue backlog of approximately $3.0 billion.
- TEN's diversified energy fleet currently comprises 82 vessels, totaling approximately 11 million dwt.
Dec 8, 2025, 10:00 PM
TEN, Ltd. Reports Q3 and Nine-Month 2025 Financial Results and Declares Common Share Dividend
TEN
Earnings
Dividends
New Projects/Investments
- For the third quarter ended September 30, 2025, TEN, Ltd. reported gross revenues of $186.2 million and net income of $38.3 million, translating to $1.05 per share. For the first nine months of 2025, gross revenues were $577 million and net income was $103 million, or $2.75 per share.
- The company's Board of Directors approved a common share dividend distribution of $1.00 per share, with $0.50 payable on December 19, 2025, and the remaining $0.50 on February 19, 2026. This follows a $0.60 per share dividend paid on July 18, 2025.
- Adjusted EBITDA for the third quarter of 2025 was $95.6 million, and for the nine months ended September 30, 2025, it reached $289 million.
- Fleet utilization for the first nine months of 2025 increased to 96.2% from 92.2% in the corresponding period of 2024, with the average Time Charter Equivalent (TCE) per vessel per day remaining at a solid $30,703.
- At the end of September 2025, TEN's cash position stood at $264.3 million, and total debt obligations were $1.9 billion. The company has a 20-vessel newbuilding program and its diversified energy fleet currently consists of 82 vessels.
Nov 21, 2025, 2:15 PM
TEN, Ltd. Reports Q3 2025 Financial Results and Dividend Announcement
TEN
Earnings
Dividends
New Projects/Investments
- For Q3 2025, TEN reported $186,228 in voyage revenues, $31,265 in net income attributable to common stockholders, and $1.05 in basic and diluted earnings per share. Adjusted EBITDA for the quarter was $95,566.
- For the nine months ended September 30, 2025, voyage revenues were $576,588, net income attributable to common stockholders was $81,752, and basic and diluted EPS was $2.75. Adjusted EBITDA for this period was $288,760.
- TEN announced a dividend of $1.00 per common share on November 20, 2025, to be paid in two installments of $0.50 in December 2025 and $0.50 in February 2026, following a $0.60 per common share dividend paid in July 2025.
- As of September 30, 2025, the company's fleet consisted of 61.0 vessels with an average age of 10.1 years and a utilization rate of 94.8%. The Net Debt-to-Capital ratio for the nine months ended September 30, 2025, was 47.3%.
- Since January 1, 2023, TEN has pursued fleet renewal by divesting 17 older vessels (average age 17.3 years) and contracting/acquiring 33 newer vessels (average age 0.6 years).
Nov 20, 2025, 3:00 PM
Tsakos Energy Navigation Reports Strong Q3 and Nine-Month 2025 Results, Declares Additional Dividend
TEN
Earnings
Dividends
New Projects/Investments
- Tsakos Energy Navigation reported net income of $103 million and $2.75 earnings per share for the nine months ended September 30, 2025, with $264 million in cash at period-end. For the third quarter of 2025, net income was $38.3 million and EPS was $1.05.
- An additional $1 per share dividend was declared, payable in two equal tranches of $0.50 on December 19, 2025, and February 19, 2026, resulting in a total dividend of $1.60 per share for the year.
- The company maintains a contracted revenue backlog of approximately $4 billion and is progressing with a 20-vessel new building program for deliveries from Q1 2026 to Q4 2028, alongside strategic sales of older vessels.
- Management noted a market with strong tanker fundamentals, limited tonnage supply, and high demand, expecting a very strong fourth quarter of 2025.
Nov 20, 2025, 3:00 PM
Tsakos Energy Navigation Reports Strong Q3 2025 Results and Declares Additional Dividend
TEN
Earnings
Dividends
New Projects/Investments
- Tsakos Energy Navigation reported net income of $38.3 million and $1.05 earnings per share for Q3 2025, and $103 million net income and $2.75 earnings per share for the nine months ended September 30, 2025.
- The company declared an additional $1 per share dividend, payable in two equal tranches of $0.50 each in December 2025 and February 2026, bringing the total dividend for the year to $1.60 per share.
- TEN maintains a strong financial position with $264 million in cash as of September 30, 2025, and a $4 billion backlog in contracted revenue, supported by a 94.8% fleet utilization in Q3 2025.
- Strategic initiatives include a 20-vessel newbuilding program with deliveries starting Q1 2026 and ongoing sales of older vessels, with five first-generation vessels currently under negotiation, expected to release $250 million in net cash.
- Management anticipates a very strong Q4 2025 due to robust tanker market fundamentals, limited tonnage supply, and high demand.
Nov 20, 2025, 3:00 PM
TEN Reports Strong Q3 2025 Results and Declares Additional Dividend
TEN
Earnings
Dividends
New Projects/Investments
- Tsakos Energy Navigation (TEN) reported a net income of $38.3 million and $1.05 EPS for Q3 2025, contributing to $103 million net income and $2.75 EPS for the first nine months of 2025.
- An additional $1 per share dividend was declared, payable in two equal tranches in December 2025 and February 2026, bringing the total dividend for the year to $1.60 per share.
- The company holds a strong cash position of $264 million as of September 30, 2025, and has a $4 billion backlog in minimum fleet contracted revenue.
- TEN is advancing its fleet renewal with a 20-vessel new building program and plans to sell five to ten older vessels to generate approximately $250 million in net cash.
- The tanker market is experiencing strong fundamentals, with 94.8% fleet utilization in Q3 2025 and a Time Charter Equivalent (TCE) rate of $30,601.
Nov 20, 2025, 3:00 PM
Quarterly earnings call transcripts for TSAKOS ENERGY NAVIGATION.
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