Tsakos Energy Navigation Celebrates Its 20th Anniversary as a Public Company and Rings the Closing Bell at the New York Stock

Tsakos Energy Navigation Celebrates Its 20th Anniversary as a Public Company 
and Rings the Closing Bell at the New York Stock Exchange 
ATHENS, GREECE -- (Marketwire) -- 03/26/13 --  Tsakos Energy
Navigation Limited (TEN or the "Company") (NYSE: TNP), a leading
product, crude and LNG tanker operator, today announced that on
Friday, March 22, 2013, the Chief Executive Officer of the Company,
Mr. Nikolas Tsakos, as well as senior members of the company's
management team and guests celebrated the Company's 20th Anniversary
as a public company at a specially held ceremony at the New York
Stock Exchange and rang the closing bell. 
To view the Closing Bell ceremony, please click on the following link
or copy and paste it in your browser
http://media.capitallink.com/videos/companies/tsakos/TEN20th032213.mp4. 
In his address, Mr. Nikolas Tsakos noted the company's track record
of solid growth and value creation for its shareholders since 1993
when TEN first listed on the Oslo Stock Exchange and then in 2002 on
the New York Stock Exchange. From a fleet of just four vessels in
1993, TEN has become one of the largest independent transporters of
energy in the world controlling a versatile fleet of modern crude and
product tankers and liquefied natural gas ("LNG") vessels. The
company's pro forma fleet of 49 vessels consists of 28 product
tankers, 19 crude oil tankers and 2 LNG carriers. Among the public
tanker companies listed in the U.S., TEN has the largest product
tanker fleet currently in operation and one of the largest tanker
fleets with ice-class capabilities. The average age of TEN's pro
forma fleet is 6.5 years versus 8.7 years for the world tanker
average. 
TEN's current newbuilding program includes a Suezmax DP2 shuttle
tanker, scheduled to be delivered in April 2013, and one LNG carrier
to be delivered to the company in the first quarter 2015. The first
newbuilding Suezmax DP2 Shuttle tanker was added in March 2013. The
addition of these vessels, broaden TEN's maritime energy scope and
further diversify its sources of revenue.  
Since 1997, the Company has invested over $4 billion in 65 new
buildings in the context of its fleet renewal and expansion program
and since its listing on the New York Stock Exchange in 2002, TEN has
generated over $1 billion in net in
come from operations and vessel
sales and purchase transactions.  
TEN has paid without interruption a dividend every year since its
NYSE listing. Inclusive of the most recent divided paid in December
2012, TEN has distributed in total $9.575 per share in dividends to
its shareholders compared with the IPO price of $7.50 per share
(taking into account the 2-1 share split of November 14, 2007.) 
ABOUT TSAKOS ENERGY NAVIGATION
 To date, TEN's pro forma fleet
(excluding newbuilding options) consists of 49 double-hull vessels, a
mix of product tankers, crude tankers and LNG carriers, of 4.9
million dwt. This figure includes one LNG carrier under construction
and one DP2 suezmax shuttle tanker totaling 157,000 dwt. TEN's
balanced fleet existing profile is reflected in 19 crude tankers
ranging from VLCCs to aframaxes and 28 product carriers ranging from
suezmaxes to handysize and one LNG carrier. The Company has an option
for a third LNG carrier to be declared no later than end of first
quarter 2013.  
TEN's current newbuilding program:  


 
--  Suezmax Shuttle DP2 157,000dwt Scheduled Delivery: April 2013
--  LNG 86,000dwt/162,000 cbm Tri-Fuel Scheduled Delivery: Q1 2015

  
(All vessels are Double Hull - Option vessel technical specs subject
to change depending on charterer/employment) 
For further information please contact:
Company
Tsakos Energy Navigation Ltd.
George Saroglou
COO
+30210 94 07 710
gsaroglou@tenn.gr 
Investor Relations / Media 
Capital Link, Inc. 
Nicolas Bornozis
Paul Lampoutis 
+212 661 7566 
ten@capitallink.com 
 
 
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