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Tsakos Shipping and Trading S.A. is the Technical
Manager for Tsakos
Energy Navigation Limited (TEN), which, through its
subsidiaries, owns or controls a fleet of twenty-six tankers specializing
in the transportation of crude and refined oil products worldwide.
 TEN
(formerly MIF Limited) is incorporated in Bermuda, managed out of its
Athens office and, since its inception in 1993, listed on the Bermuda
Stock Exchange (BSX), and on the
Oslo Stock Exchange (OSE), under the symbol: TEN. On
March 5, 2002, it successfully achieved a listing on the
New York Stock Exchange (NYSE) under the symbol: TNP.
The Company currently operates a fleet of 26 vessels
(including three chartered-in vessels, one aframax and two suezmaxes).
The fleet comprises 2.9 million dwt with an average age of 7.3 years,
compared to the world's tanker tonnage average age of 12.1 years.
Currently, 95% of TEN's fleet is of double hull design.
By mid-2007, TEN is scheduled to take delivery of a further twelve newbuildings,
(5 Suezmaxes iceclass(1C-1A), 2 Aframaxes, 4 handysize product tankers
iceclass(1A) and 1 LNG
carrier). The resulting fleet of 38 vessels of approximately 4.4 million dwt ,
will include 30 newbuildings (1998-2007) of approximately 3.5 million dwt.
Tsakos Energy Management S.A. (TEM) provides executive and
commercial management to the Company. TEM, in turn, has
appointed Tsakos Shipping and Trading S.A. (TST) as the Company's
Technical Manager, which provides the Company operational expertise
accumulated over the past thirty-two years and allows the Company to
take advantage of the economies of scale available through the
management by TST of sixty nine vessels.
Since inception, the Company has had a consistently successful record in
terms of profitability and cash flow. |
