Last year there was a milestone event for TEN as the company completed 20 years on the NYSE. This year TEN celebrates 30 years in shipping, since it started on 10th of October 1993 and marking another record year of profits.
TEN was also recognized as a crisis resistance company growing out of major global economic disruptions. TEN has expanded its fleet significantly delivering ambitious newbuilding programs since 1995.
After several crisis 11th September 2001 terrorist attacks, credit crisis of 2008 and Covid 19 breakout TEN came out stronger investing in new technology ships.
Life is like a marathon rather than a speed race, said Dr. Nikolas Tsakos in his speech during the last general meeting of the company. He pointed out that the debt is in sensible levels around 40-50% to the company’s capitalization and has modernized the fleet with the addition of dual fuel shuttle tankers and LNG carriers. It has also under construction an ambitious newbuilding program of ten vessels.
The company has also paid healthy dividends through market cyclicality during the last 30 years as a public company and 20 years in NYSE.
TEN in its 20-year trading in NYSE has recorded $2.5billion in net income since its NYSE listing and $770million in dividends.
The general meeting was also addressed by the founder of Tsakos Group cap Panagiotis Tsakos who told that he is very proud of the achievements of his son Nikos and his associates in TEN and he expressed his concern for the compelling issue of Greek seamen shortage.
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