Tsakos Energy Navigation Limited is a leading provider of international seaborne crude oil and petroleum product transportation services. The company also transports liquefied natural gas. It was incorporated in Bermuda in 1993 as Maritime Investment Fund Limited and later renamed Tsakos Energy Navigation Limited in 2001 to strengthen its brand in the tanker industry. As of March 30 2026 the firm operated a fleet of 64 vessels comprising 56 crude oil and product tankers two LNG carriers and six suezmax shuttle tankers with dynamic positioning capability. The total deadweight tonnage of the operating fleet was approximately 8.0 million dwt all of which are double hulled. The average age of the tankers in the fleet was 10.3 years compared with an industry average of 14 years. The company has invested roughly 9.3 billion dollars in its fleet since inception of which about 7.5 billion dollars has been directed to newbuilding constructions. Its common shares were first listed on the Oslo Stock Exchange and the Bermuda Stock Exchange in 1993. The company delisted from the Oslo exchange in March 2005 due to limited trading and its shares are no longer actively traded on the Bermuda exchange. In March 2002 Tsakos Energy Navigation Limited completed an initial public offering in the United States and its shares began trading on the New York Stock Exchange under the ticker TNP until June 30 2024 and under the ticker TEN since July 1 2024.

Revenue is generated chiefly through the chartering of vessels to oil companies traders and refiners. The company employs a mix of time charters spot voyages and contract of affreightment agreements to match market conditions and customer needs. Under time charters customers pay a daily hire rate for the use of a vessel over a set period providing relatively predictable cash flows. Spot voyages involve single trip charters where earnings fluctuate with prevailing freight rates offering upside during strong markets. Contract of affreightment arrangements secure volumes of cargo over longer periods with rates that may vary according to market indices. In addition the company receives management fees from its affiliate Tsakos Energy Management for overseeing vessel operations technical management and administrative functions. Technical management fees are also paid to Tsakos Shipping and Trading which handles crewing maintenance repair and voyage execution for the majority of the fleet. The company also earns chartering commissions paid to TST for each vessel fixed under a charter arrangement. Further income may arise from vessel sale and purchase brokerage services performed by TST for transactions involving the fleet. The combination of long term charters and selective spot exposure aims to balance stability with profit potential.

Tsakos Energy Navigation Limited distinguishes itself from many peers through a modern high quality fleet that is younger than the sector average. The firm emphasizes safety environmental performance and operational efficiency as evidenced by ISO 14001 ISO 9001 ISO 45001 and ISO 50001 certifications held by its technical manager Tsakos Shipping and Trading. A diversified fleet that spans VLCC suezmax aframax panamax handysize MR tankers LNG carriers and DP2 shuttle tankers enables the company to serve a wide range of cargo requirements including crude oil petroleum products and liquefied natural gas. Fourteen vessels in the fleet carry ice class notation allowing access to polar ports when conditions permit. The company has built long term relationships with major energy companies which contributes to high utilization rates historically averaging 94.5 percent over the last five years. By maintaining flexibility in its chartering policy the firm can shift between fixed rate agreements and spot market participation to capture favorable rate environments while preserving a stable earnings base. Tsakos Energy Navigation Limited entered the liquefied natural gas market in 2007 with the delivery of its first LNG carrier and has since added additional LNG tonnage through newbuildings and charter in vessels. The firm has also expanded its shuttle tanker platform with six DP2 suezmax shuttle tankers in operation and ten further units under construction each secured with long term employment contracts upon delivery. The technical manager TST provides integrated commercial and technical services which helps reduce operating costs and improve service reliability.

The company serves a broad customer base that includes national oil companies major integrated traders and independent refiners. In 2025 the largest revenue contributors were Equinor at 16.78 percent Exxonmobil at 12.12 percent CSSA at 11.75 percent Flopec at 6.15 percent Petrobras at 5.36 percent Trafigura at 4.35 percent Galp at 4.26 percent BP Shipping at 4.11 percent Chevron at 4.09 percent Pisco at 3.59 percent Petco at 3.26 percent Shell at 3.09 percent Vitol at 2.91 percent Mercuria at 2.19 percent Aramco at 1.88 percent Unipec at 1.87 percent Repsol at 1.84 percent Maersk Pool at 1.40 percent BPPNA at 0.86 percent and RWE at 0.83 percent. Additional regular customers cited in the filing are Total Petrogal Petronas and other global oil firms that charter vessels for the movement of crude oil petroleum products and liquefied natural gas across international trade routes. The firm's clientele reflects a focus on large sophisticated energy market participants that value reliable service and compliance with safety and environmental standards. Customers engage the company under long term medium term and short term charters depending on their operational requirements and market outlook. The global nature of the client base allows Tsakos Energy Navigation Limited to deploy its vessels across major trade routes linking production centers with consuming regions worldwide.