Following pioneering practices that balance the ship market fluctuations and tackle with the geopolitical disruptions and regulatory requirements TEN is in the forefront of the tanker industry maintaining a leading position as an international seaborne trade transporter of energy.
During the recent Annual General Meeting of TEN that was held in Tsakos group premises in Athens, Dr. Nikolas Tsakos reaffirmed the excellent course of the company which has outperformed all of its peers.
The last newbuilding suezmax tanker “Dr Irene Tsakos” that was added in TEN’s fleet was a milestone delivery as it has a particular importance for the family.
The late Dr. Irene Tsakos, the mother of Nikolas was a remarkable woman with solid values and principles.
Dr. Nikolas Tsakos said during his speech at the company’s AGM: “TEN has been able all these years, from 1993 until today, to navigate from growth to growth through different stages of expansion and development, TEN went through several challenging periods and market disruptions such as Russia – Ukraine war, Covid-19 pandemic and has managed to maintain its profitability and expand its fleet.
Today, TEN has a diversified tanker fleet of 85 tankers of various types as well as two LNG carriers with a fleet carrying capacity of 10,2 million dwt.
The newbuilding program has 19 vessels under construction.
The company has secured 180 years of time-charters, cooperating with 1st class charterers and has remarkably reduced its debt.
Dr. Tsakos also mentioned that we have faced the market volatility in a cyclical business which is influenced by several geopolitical events and protectionism strategies and we have been the largest ice-class operator and one of the biggest shuttle tankers operators in the world”.
A dividend of 0.60$ per common share to be paid in July 2025.
TEN has never stopped to give dividends to our investors and shareholders. TEN has always paid a dividend irrespective of the market cyclicality.
Capt. Panagiotis Tsakos who also addressed the AGM expressed his pride and happiness that in the last delivery of the ship “Dr. Irene Tsakos” the company was represented by three generations of Tsakos family and he extended his congratulations to everyone that worked for this outstanding result.
Finally, Panos N. Tsakos referred to the company’s activities in the Philippines, where the company operates two training academies to recruit its ships with skilled seafarers and he also focused on TEN’s Singapore office providing vetting and chartering services to the company’s fleet.
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