ATHENS, Greece, March 9, 2010 (GLOBE NEWSWIRE) -- Tsakos Energy Navigation Ltd. ("TEN") (NYSE:TNP) will report earnings for the fourth quarter and full year 2009 prior to the open of the market on Wednesday, March 17, 2010.
That same morning, at 11:00 a.m. Eastern Time, TEN will also host a conference call to review the results as well as management's outlook for the business. The call, which will be hosted by TEN's senior management, may contain information beyond what is included in the earnings press release.
To participate in the call from the United States or Canada, please dial +1.888.694.4702 approximately five minutes prior to the starting time. To participate in the call outside the United States or Canada, please dial +1.973.582.2741 five minutes prior to the starting time. The Conference ID is 6136 7657.
Two hours after the completion of the conference call, a digital recording of the call will be available for seven days, and can be accessed by dialing +1.800.642.1687 from inside the United States or Canada and +1.706.645.9291 from outside the United States or Canada and entering the Conference ID 6136 7657.
The call, which will be simultaneously broadcast live over the Internet, can be accessed at: http://www.videonewswire.com/event.asp?id=67014. The online archive of the broadcast will be available within one hour of the live call at the same web address and will remain available for one month.
Concurrent with the live broadcast, the Company will post a supplemental slide presentation providing details related to fleet composition and deployment and other related company information. This presentation will be available on the Company's corporate website reception page at www.tenn.gr.
ABOUT TSAKOS ENERGY NAVIGATION
Today, TEN's fleet consists of 49 double-hull vessels of 5.2 million dwt and includes two DNA-aframax crude carriers and two suezmax tankers currently under construction totalling 526,000 dwt.
TEN's balanced fleet profile is reflected in 24 crude tankers ranging from VLCCs to aframaxes and 24 product carriers ranging from aframaxes to handysize and one LNG.
TEN's employment profile:
| Type of Employment | Vessels |
| Period Employment – Fixed, fixed w/profit share & min max | 31 |
| CoA – market related | 4 |
| Pool – market related | 6 |
| Spot – market related | 4 |
TEN's current newbuilding program:
| Aframax | DWT | Hull Type / Design | Delivery |
| 1. Sapporo Princess | 105,000 | DH / DNA | April 14, 2010 |
| 2. Uraga Princess | 105,000 | DH / DNA | July 2, 2010 |
| 3. S2034 | 158,000 | DH | Q2 2011 |
| 4. S2035 | 158,000 | DH | Q2 2011 |
DH: Double Hull
DNA: Design New Aframax
FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.