Tsakos Energy Navigation Ltd. Stock Price, News & Analysis

Tsakos Energy Navigation Limited (historically NYSE: TNP), also referred to as TEN, is a maritime company active in the deep sea freight transportation sector. According to company disclosures, TEN is a crude, product, and LNG tanker operator and is described as a diversified energy fleet owner. The company has been presented in public communications as one of the first and most established public shipping companies in the world, with a long-standing presence in the transportation and warehousing sector through ocean-going tankers.

In multiple press releases, TEN states that it was founded in 1993. It also notes that it has been a public company for decades and that its shares have been listed on the New York Stock Exchange. The company’s fleet is described as a mix of crude tankers, product tankers, and LNG carriers, with various press releases referencing double-hull vessels and specialized units such as DP2 shuttle tankers, scrubber-fitted suezmax vessels, scrubber-fitted MR product tankers, and Panamax LR1 tankers under construction. These disclosures highlight TEN’s focus on energy-related maritime transportation.

Company communications emphasize a diversified energy fleet. Different releases in 2024 refer to a fleet size in the mid-70s by vessel count, with total deadweight tonnage around or above 9 million dwt. TEN has also highlighted the presence of environmentally focused assets, including dual-fuel LNG powered vessels and scrubber-fitted tankers, and has referred to a “green-growth initiative” and a “green ship” initiative as part of its fleet renewal and modernization activities. These statements indicate an emphasis on newer, more environmentally oriented tanker tonnage within its broader fleet.

Press releases describe TEN as operating in the maritime energy transportation industry and as a tanker operator serving energy cargoes. The company has referred to its vessels as being employed under time-charter contracts, sometimes with profit-sharing provisions, and has mentioned long-term contracts to oil majors for certain dual-fuel LNG vessels. TEN also reports that it engages in sale and purchase activity, including acquisitions of modern tankers and sales of older vessels, as part of its fleet renewal efforts.

In its public financial reporting, TEN presents voyage revenues, voyage expenses, charter hire expense, vessel operating expenses, depreciation and amortization, and other items typical of a shipping company income statement. It also discloses non-GAAP measures such as adjusted EBITDA and provides fleet data including average number of vessels during a period, number of vessels at the end of a period, average age of the fleet, and total deadweight tonnage. These disclosures underline the company’s focus on tanker operations as its primary business activity.

According to company announcements, TEN has pursued a program of fleet renewal and expansion that includes both the acquisition of modern vessels and the ordering of newbuildings. Press releases in 2024 describe the completion of an acquisition of vessels from Viken Crude AS, the sale of older Aframax tankers and an LNG carrier, and an ongoing newbuilding program that includes DP2 shuttle tankers, scrubber-fitted suezmax tankers, MR product tankers, and Panamax LR1 tankers under construction with expected deliveries over multiple future years. The company characterizes these actions as modernizing its fleet and increasing its deadweight capacity.

In addition, TEN has highlighted a number of dual-fuel LNG LR2 product tankers and other environmentally focused vessels delivered into its fleet, which it describes as contributing to its goal of a more environmentally friendly fleet. Company communications link these vessels to time-charter contracts with profit-sharing provisions and refer to expected minimum gross revenues from such contracts. The company has also mentioned that certain vessels with alternative fuel capabilities are on long-term contracts to oil majors.

Ticker symbol change and historical TNP listing

For investors researching the historical ticker TNP, TEN has announced that its common shares, previously trading on the New York Stock Exchange under the symbol TNP, transitioned to the ticker symbol “TEN”. Company press releases state that, effective July 1, 2024, the common shares moved from TNP to TEN on the NYSE, while the company continued to be listed under the name Tsakos Energy Navigation Limited. The same announcements note that the Series E and Series F Cumulative Perpetual Preferred Shares also changed their symbols from TNP-PRE to TEN-PRE and from TNP-PRF to TEN-PRF, respectively, with no action required by existing shareholders and no change to the applicable CUSIPs.

This means that the symbol TNP represents the historical trading symbol for Tsakos Energy Navigation Limited’s NYSE-listed common shares prior to July 1, 2024. For current trading information, company communications direct attention to the updated ticker symbol TEN on the New York Stock Exchange.

Business focus and fleet characteristics

According to the company’s own descriptions, TEN’s business is centered on operating a fleet of tankers that transport crude oil, refined petroleum products, and liquefied natural gas. The fleet is described as diversified by vessel type and includes crude tankers, product tankers, LNG carriers, DP2 shuttle tankers, and various scrubber-fitted vessels. Press releases also refer to double-hull vessels and to an average fleet age figure, reflecting the company’s attention to fleet composition and age profile.

Company disclosures also highlight that TEN’s fleet is employed under a mix of time-charter and other charter arrangements. In some cases, the company notes that vessels are on time-charter contracts with profit-sharing features, and that certain dual-fuel LNG vessels are on long-term contracts with oil majors. TEN’s public statements further indicate that it manages utilization, drydockings, and fleet renewals as part of its operational approach.

Corporate reporting and regulatory filings

TEN files annual reports on Form 20-F with the U.S. Securities and Exchange Commission as a foreign private issuer. The company has announced the filing of its Annual Report on Form 20-F for the year ended December 31, 2023, and has indicated that shareholders can access or request copies of that report. In addition, the company submits current reports on Form 6-K, such as a filing that references a press release announcing results for the three months ended March 31, 2025. These filings provide detailed financial and operational information for investors and regulators.

Through these disclosures, TEN presents information about voyage revenues, operating income, net income, cash reserves, bank debt, vessel operating expenses, and other financial metrics. It also provides fleet data, including the number of vessels, average age, deadweight tonnage, and employment days by charter type. The company explains that it uses certain non-GAAP measures, such as adjusted EBITDA, to facilitate comparisons across periods and with other shipping companies.

Historical context for TNP investors

Investors researching TNP stock should understand that TNP is the historical ticker symbol for Tsakos Energy Navigation Limited’s common shares on the New York Stock Exchange. According to company announcements, effective July 1, 2024, the ticker was changed from TNP to TEN, and the company’s preferred share symbols were similarly updated. The company has stated that no shareholder action was required in connection with this change and that the listing on the NYSE under the company’s name continued.

As such, historical price and volume data under the symbol TNP reflect trading in Tsakos Energy Navigation Limited’s common shares prior to the symbol change. For ongoing trading and corporate developments, the company’s own communications refer to the updated symbol TEN on the NYSE. The underlying business, as described in company press releases and filings, remains focused on deep sea freight transportation through a diversified fleet of crude, product, and LNG tankers.