Welcome to our dedicated page for Tsakos Energy news (Ticker: TEN), a resource for investors and traders seeking the latest updates and insights on Tsakos Energy stock.
News about Tsakos Energy Navigation Ltd. (TEN) focuses on its activities as a diversified crude, product and LNG tanker operator listed on the New York Stock Exchange. Company press releases and related coverage highlight developments in its energy transportation business, including fleet expansion, chartering activity and financial performance.
Readers of the TEN (TEN) news page can review announcements on quarterly and nine-month results, where the company reports voyage revenues, operating income, net income, fleet utilization and contracted revenue. These releases often include commentary from management on tanker market conditions and the composition of TEN’s charter portfolio across time charters, profit-sharing arrangements, spot voyages, pool participation and other contracts.
News items also cover TEN’s fleet development, such as deliveries of new DP2 shuttle tankers, scrubber-fitted suezmax tankers, MR product tankers, LR1 tankers and VLCCs, as well as orders placed with shipyards in South Korea. The company reports long-term employment for many of these vessels with oil majors and other large counterparties, and highlights its expansion in the shuttle tanker segment, including recognition at the Lloyd’s List Greek Shipping Awards.
Investors following TEN’s news will also find updates on common and preferred share dividends, including regular quarterly dividends on Series E and Series F preferred shares and semi-annual dividends on common stock. Additional news includes features on TEN in external publications, references to its focus on operational discipline and modernization, and information on corporate governance developments such as board appointments. This page brings together these company communications so that readers can monitor TEN’s disclosures on its operations, fleet and capital structure.
Tenneco (NYSE:TEN) has announced a supply agreement for its electronic suspension technology to be featured in the upcoming L9 electric luxury SUV from Li Auto. The Advanced Suspension Technologies (AST) division will produce Monroe® Intelligent Suspension CVSAe™ dampers, enhancing ride comfort and handling. This technology is already in over 75 vehicle models and is compatible with both battery-electric and hybrid vehicles. Manufacturing will occur at Tenneco's Changzhou, China facility, which began operations in 2021.
Tenneco Inc. (NYSE: TEN) announced plans to redeem all outstanding 5⅜% Senior Notes due 2024 and 5.0% Senior Notes due 2026 on October 7, 2022. The total outstanding amounts are $225 million for the 2024 Notes and $500 million for the 2026 Notes, with redemption prices of $1,025.68 and $1,028.06 per $1,000 principal, respectively. Redemption is contingent on the completion of Tenneco's acquisition by Pegasus Holdings and successful debt securities offering. If conditions aren’t met, Tenneco may rescind the redemption notice.
Tenneco (NYSE: TEN) is set to showcase innovative products for rail customers at the 2022 InnoTrans in Berlin, Germany, from September 20-23. Featured offerings include the new Jurid® 847 LL brake block, designed to reduce noise and lifecycle costs while enhancing operational security. The company will also present the ROUNDIT® EMI DW solution, which combines shielding and grounding for cables, and Deva® brand materials for maintenance-free self-lubricating bearings. These developments reflect Tenneco's commitment to advancing rail technology.
Tenneco has launched a new range of Champion industrial spark plugs designed for high-performance applications in heavy-duty and stationary markets. The spark plugs feature an advanced ceramic formula, enhancing their electrical and mechanical strength, which improves durability and increases service intervals. Specifically, the double Iridium M14 J-Gap spark plugs are tailored for both biogas and natural gas operations. Tenneco, with a revenue of $18 billion in 2021, continues to innovate in the automotive sector.
Garage Gurus, part of Tenneco's DRiV group, has announced the winners of its 2022-2023 Automotive Technical Scholarship Program, awarding $2,500 each to 12 students pursuing automotive education. This initiative, now in its eighth year, has contributed over $230,000 in tuition support to aspiring automotive professionals. The program aims to address the shortage of skilled technicians in the automotive industry. Scholarship recipients are enrolled in accredited institutions across the U.S., enhancing their skills to succeed in the automotive repair sector.
Tenneco Inc. (NYSE: TEN) announced the launch of new Monroe Intelligent Suspension RideSense products tailored for luxury European vehicles. These products seamlessly integrate with OE electronic suspensions, allowing for customizable driving experiences. Featuring Continuously Variable Semi-Active technology, RideSense products promise enhanced control and longevity, supported by a 5-Year limited warranty. A total of 18 new part numbers are now available in the US and Canada, covering popular models like the 2015-2007 Mercedes Benz C-Class and 2010-2000 Volvo S60 AWD.
Tenneco (NYSE: TEN) reported second quarter 2022 results, with total revenue of $4.7 billion, a 2% year-over-year increase. Value-add revenue rose 6% to $3.5 billion, despite a $174 million negative currency impact. EBIT dropped to $15 million from $127 million year-over-year, while adjusted EBITDA fell to $212 million from $356 million. The company also reported a net loss of $121 million ($1.44 per diluted share), compared to a net loss of $10 million in the prior year. Tenneco aims to finalize its transaction with Apollo Funds in the second half of 2022.
Monroe, part of Tenneco's DRiV Motorparts group, has launched new part numbers for its products, broadening its coverage by over 6.5 million vehicles in operation. This includes Quick-Strut assemblies, OESpectrum shocks, Magnum struts, and Intelligent Suspension RideSense products. Monroe's offerings now cover over 1.4 million vehicles with designs tested for durability. The new products aim to enhance vehicle performance and cater to high-mileage and heavy-load vehicles, reflecting Monroe's commitment to innovation in automotive solutions.
Tenneco's FERODO Racing has launched a new range of high-performance brake pads, discs, and fluid designed for mountain, road, and eBikes. This innovative product line, showcased at Eurobike 2022, leverages FERODO's extensive experience in motorsport, promising exceptional braking precision and reliability. Key offerings include mid-metallic eBike brake pads, high-carbon steel brake discs, and DOT 4 brake fluid. With over 125 years of braking innovation, FERODO's products continue to support top racing teams globally, reflecting a commitment to performance and safety.
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