ATHENS, Greece, May 6, 2009 (GLOBE NEWSWIRE) -- Tsakos Energy Navigation Ltd. ("TEN") (NYSE:TNP) announced today that its Annual Report on Form 20-F for the year ended December 31, 2008 has been filed with the Securities and Exchange Commission and can be accessed on the Company's website www.tenn.gr, on the homepage.
Shareholders may also request a hard copy of the complete audited financial statements, free of charge, by clicking on the annual report prompt under the Contact Us section of the Company's website.
Alternatively, shareholders may request a hard copy of the complete audited financial statements, free of charge, by contacting the Company at:
Tsakos Energy Navigation Attn: 20-F Request 367, Syngrou Ave. 175 64 P. Faliro, Hellas Tel: + (30) 210 94 07 710-13
Reports and other information regarding the Company are also available without charge at a website maintained by the U.S. Securities and Exchange Commission at http://www.sec.gov.
ABOUT TSAKOS ENERGY NAVIGATION
TEN's pro forma fleet consists of 50 vessels of 5.3 million dwt. TEN's operational fleet consists of 46 vessels all of double-hull design. TEN's newbuilding program includes four DNA-aframax crude carriers representing 420,000 dwt.
TEN's fixed employment for remaining 2009 days reaches 70% while for 2010, fixed employment is currently at 43%. Assuming the profit-sharing charters were only to generate the minimum for the remaining days of 2009, TEN would still expect to earn at least another $300 million in gross revenues. For 2010, based on the same assumptions, the minimum gross revenue already secured is currently $180 million.
TEN's balanced fleet profile is reflected in 25 crude tankers ranging from VLCCs to aframaxes and 24 product carriers ranging from aframaxes to handysize; complemented by one LNG.
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.