This year’s meeting was the largest gathering of TEN’s associates & partners that took place amidst an excellent freight rate market.
As Dr. Nikolaos P. Tsakos, Founder and CEO of TEN Ltd. said: “2024 was a milestone year for TEN in terms of profitability and the creation of the first Maritime Academy in Chios.
Mr. George Saroglou, President and COO of TEN Ltd. gave a short overview. He pointed out that TEN follows a crisis resistant growth model spanning four decades. Due to the stewardship of the company’s personnel and the dedication of the seafarers onboard the company has expanded tremendously taking advantage the opportunities of the market.
TEN has created a diversified fleet, secured revenues and green ship growth. It has divested 13 older vessels since 1/1/2023 and has replaced them by taking delivery of 21 highly sophisticated vessels contracted/acquired.
TEN has achieved also solid performance and healthy liquidity key factors which are keys to the fleet expansion. 2024 total dividend payment amounts to $1.70 per common share.
Mrs. Venetia Kallipolitou, Department HR & Training Manager- Tsakos Group, referred to the establishment of Tsakos Nautical Academy in Chios which is incorporated with the Administration of Cyprus Deputy Ministry of Shipping. The cadets are fulfilling strict criteria to enter the Academy and the next plan is to introduce a program of developing ETO (Electromechanical Cadet Officers) following the motto “Sea is our limit”.
They follow a three year training program including one year ship service and two years academic training.
The event was addressed by Ambassador George Tsunis who praised TEN for adopting best business practices with an unprecedented course the last 30 years in the NYSE.
TEN represents the two countries’ Greece & US strong ties in the commercial and shipping sector.
Mr. Tsunis expressed his deep respect to the Tsakos family for its great social and philanthropic contribution.
In the Annual Strategy Meeting of Tsakos, Dr. Maria Vassalou, Director of TEN Ltd. and former Associate Professor of Finance at Columbia Business School, Professor Angelos Kallipolitis and Fotini Angellopoulou, from Clarksons presented some very critical topics regarding the debt sustainability in the world’s financial architecture, putting together prices of equity valuation and Tanker Martex Outlook.
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