ATHENS, GREECE -- (Marketwire) -- 11/08/12 -- Tsakos Energy Navigation Limited ("TEN" or the "Company") (NYSE: TNP) will report earnings for the third quarter and nine months ended September 30, 2012 prior to the opening of the market in New York on Wednesday, November 21, 2012.
That same morning, at 10:00 a.m. Eastern Time, TEN will 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.
Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1 866 819 7111 (US Toll Free Dial In), 0800 953 0329 (UK Toll Free Dial In) or +44 (0)1452 542 301 (Standard International Dial In). Please quote "Tsakos" to the operator.
A telephonic replay of the conference call will be available until Wednesday, November 28, 2012 by dialing 1 866 247 4222 (US Toll Free Dial In), 0800 953 1533 (UK Toll Free Dial In) or +44 (0)1452 550 000 (Standard International Dial In). Access Code: 90295809#
Simultaneous Slides and Audio Webcast:
There will also be a simultaneous live, and then archived, slides webcast of the conference call, available through TEN's website (www.tenn.gr). The slides webcast will also provide 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. Participants for the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
ABOUT TSAKOS ENERGY NAVIGATION
To date, TEN's pro forma fleet consists of 51 double-hull vessels of 5.5 million dwt. This figure includes one LNG carrier and two DP2 suezmax shuttle tankers under construction totaling 400,000 dwt. It also includes two non-operational VLCCs held for sale. TEN's balanced fleet profile is reflected in 23 crude tankers ranging from VLCCs to aframaxes and 26 product carriers ranging from aframaxes to handysize and two LNG carriers. The Company has an option for a third LNG carrier to be declared no later than the end of November 2012, totaling 86,000 dwt.
TEN's employment profile (operating fleet as of November 7, 2012 excluding two VLCCs held for sale):
Period Employment - Fixed, fixed w/profit share & min max (27)
Pool - market related (4)
Spot - market related (15)
TEN's current newbuilding program:
•Suezmax DP2 157,000dwt Q1 2013 •Suezmax DP2 157,000dwt Q2 2013 •LNG TBN 86,000dwt/162,000 m3 Tri-Fuel Q1 2015 •LNG TBN 86,000dwt/162,000 m3 Tri-Fuel Q4 2015 (option)
(All vessels are Double Hull)
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and in Section 21E of the Securities Exchange Act of 1934, as amended). Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. Statements contained in this press release are based upon information presently available to the Company and assumptions that the Company believes to be reasonable. The Company is not assuming any duty to update this information should those facts change or should the Company no longer believe the assumptions to be reasonable. These statements are subject to risks and uncertainties, including without limitation, general market conditions, the market for the Company's common shares, the performance of the Company's business and other risks detailed from time-to-time in the Company's filings with the Securities and Exchange Commission.
For further information please contact:
Tsakos Energy Navigation Ltd.
+30210 94 07 710
Investor Relations / Media
Capital Link, Inc.
+212 661 7566
Tsakos Energy Navigation Limited
367 Syngrou Avenue, 175 64 P. Faliro, Hellas
Tel: 30210 94 07 710-3
Fax: 30210 94 07 716
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