Tsakos Energy Navigation Orders Second LNG Carrier from Hyundai Heavy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 44 minutes ago
0mins
Source: seekingalpha
- New Vessel Order: Tsakos Energy Navigation announced on Wednesday the order of a second LNG carrier from Hyundai Heavy Industries, scheduled for delivery in Q1 2029, bringing its newbuilding program to a total of 20 vessels, thereby enhancing its competitive position in the LNG transportation market.
- Charter Agreement: The company also revealed that its DP2 shuttle tanker Anfield DP is set for delivery later this month under a minimum 10-year charter with a U.S. oil major, which will provide a stable revenue stream and bolster its financial stability.
- Contracted Revenue Assurance: Tsakos Energy Navigation's fleet has secured minimum contracted revenues of $3.5 billion, reflecting the company's strong bargaining power in the market and long-term business sustainability.
- Market Outlook: While investors remain cautious about the company's prospects, the increase in new vessel orders and long-term charters signifies substantial growth potential for Tsakos Energy Navigation in the LNG transportation sector, potentially supporting future shareholder returns.
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Analyst Views on TEN
Wall Street analysts forecast TEN stock price to rise
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 35.370
Low
35.00
Averages
37.50
High
40.00
Current: 35.370
Low
35.00
Averages
37.50
High
40.00
About TEN
Tsakos Energy Navigation Ltd is a Greece-based provider of international seaborne crude oil and petroleum product transportation services. The Company operates through the maritime transportation of liquid energy-related products segment. The Company's fleet consists of 70 vessels, constituting a mix of crude tankers, product tankers, and liquefied natural gas (LNG) carriers, totaling more than 7 million dwt. It includes VLCC, Aframax, Panamax, handysize, handymax tankers, LNG carrier, and DP2 shuttle tankers, which allows the Company to serve its customers' international petroleum product and crude oil transportation needs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tsakos Energy Navigation Orders Second LNG Carrier from Hyundai Heavy
- New Vessel Order: Tsakos Energy Navigation announced on Wednesday the order of a second LNG carrier from Hyundai Heavy Industries, scheduled for delivery in Q1 2029, bringing its newbuilding program to a total of 20 vessels, thereby enhancing its competitive position in the LNG transportation market.
- Charter Agreement: The company also revealed that its DP2 shuttle tanker Anfield DP is set for delivery later this month under a minimum 10-year charter with a U.S. oil major, which will provide a stable revenue stream and bolster its financial stability.
- Contracted Revenue Assurance: Tsakos Energy Navigation's fleet has secured minimum contracted revenues of $3.5 billion, reflecting the company's strong bargaining power in the market and long-term business sustainability.
- Market Outlook: While investors remain cautious about the company's prospects, the increase in new vessel orders and long-term charters signifies substantial growth potential for Tsakos Energy Navigation in the LNG transportation sector, potentially supporting future shareholder returns.
See More
TEN Ltd. Holds Annual Shareholders Meeting
- Successful Shareholder Meeting: TEN Ltd. held its Thirty-Third Annual General Meeting on May 27, 2026, in Athens, achieving the required quorum with all proposed resolutions receiving at least 93.8% approval, reflecting strong shareholder confidence in governance.
- Board Elections and Financial Audit: The meeting approved the election of a new director and the re-election of three retiring directors, alongside the acceptance of the 2025 audited financial statements, ensuring transparency and compliance in financial reporting.
- Appointment of Auditors: TEN appointed Ernst & Young (Hellas) as auditors for the fiscal year ending December 31, 2026, and authorized the Audit Committee to determine their remuneration, enhancing the professionalism and independence of the company's financial audits.
- Company Overview: Founded in 1993, TEN operates a diversified fleet of 83 vessels, including 10 DP2 shuttle tankers and 3 VLCCs, showcasing its strong competitive position and growth potential in the global shipping market.
See More
Tsakos Energy Navigation Q1 2026 Earnings Highlights
- Earnings Beat Expectations: Tsakos Energy Navigation reported a GAAP EPS of $2.72 for Q1 2026, exceeding expectations by $0.70, indicating the company's strong profitability in a robust market.
- Significant Revenue Growth: The company achieved revenues of $253 million in the first quarter, reflecting a 28.4% year-over-year increase and surpassing market expectations by $37 million, showcasing strong demand and market share gains in the shipping industry.
- Substantial EBITDA Increase: Adjusted EBITDA for Q1 2026 reached $154 million, up 55% from $99.3 million in Q1 2025, highlighting significant improvements in cost control and operational efficiency.
- Solid Cash Reserves: As of March 31, 2026, the company maintained robust cash reserves of approximately $321.4 million, ensuring financial flexibility for future investments and operations, thereby enhancing market confidence.
See More
TEN Reports 160% Increase in Q1 2026 Net Income
- Significant Net Income Growth: TEN reported a net income of $89 million for Q1 2026, translating to $2.72 per share, which is a remarkable 160% increase from $37.7 million and $1.04 per share in Q1 2025, indicating strong performance and enhanced profitability in the market.
- EBITDA Surge: The adjusted EBITDA for Q1 2026 reached $154 million, up 55% from $99.3 million in Q1 2025, reflecting the company's success in operational efficiency and cost management, thereby strengthening its financial stability.
- Record Dividend Distribution: TEN announced a dividend of $1.00 per share for 2026, marking a 36% increase from 2025 and the highest dividend in over a decade, demonstrating the company's commitment to shareholder returns and robust cash flow.
- Newbuilding Program on Track: TEN's 22-vessel newbuilding program is on schedule, totaling 3 million dwt, ensuring the company's competitiveness and growth potential in future markets while providing enhanced service efficiency to clients.
See More
Tsakos Energy Navigation Set to Announce Q1 Earnings
- Earnings Announcement: Tsakos Energy Navigation is set to release its Q1 2023 earnings report on May 21 before market open, with a consensus EPS estimate of $2.02, reflecting a significant 94.2% year-over-year increase, indicating strong performance in robust markets.
- Revenue Expectations: The anticipated revenue for Q1 stands at $216 million, representing a 9.6% year-over-year growth, which underscores the company's stability in revenue generation and its competitive position within the shipping industry.
- Performance Track Record: Over the past two years, TEN has surpassed EPS estimates 88% of the time and revenue estimates 100% of the time, showcasing its strong profitability and adaptability in the market.
- Estimate Revisions: In the last three months, there has been one upward revision for both EPS and revenue estimates, with no downward adjustments, indicating increased analyst confidence in the company's future performance, which may further drive stock price appreciation.
See More
TEN Ltd. to Report Q1 2026 Financial Results
- Earnings Release Schedule: TEN Ltd. plans to announce its financial results for the first quarter ended March 31, 2026, prior to the market opening on May 21, 2026, which is expected to provide critical financial data and management outlook to help investors assess the company's future performance.
- Conference Call Details: On the same day at 10:00 AM Eastern Time, TEN will host a conference call where senior management will discuss the earnings report and future outlook; participants should dial in 10 minutes early using 877-405-1226 or +1 201-689-7823 to ensure smooth access.
- Webcast and Replay: The call will be available via live audio and slides on the company's website, with participants encouraged to register 10 minutes before the start; an archived audio file will also be accessible post-meeting, allowing investors who cannot attend live to obtain the information.
- Company Background: Founded in 1993, TEN is one of the first and most established public shipping companies globally, currently operating a diversified fleet of 83 vessels, including 10 DP2 shuttle tankers and 3 VLCCs, demonstrating the company's solid position and ongoing growth potential in the shipping industry.
See More
Tsakos Energy Navigation Orders Second LNG Carrier from Hyundai Heavy
- New Vessel Order: Tsakos Energy Navigation announced on Wednesday the order of a second LNG carrier from Hyundai Heavy Industries, scheduled for delivery in Q1 2029, bringing its newbuilding program to a total of 20 vessels, thereby enhancing its competitive position in the LNG transportation market.
- Charter Agreement: The company also revealed that its DP2 shuttle tanker Anfield DP is set for delivery later this month under a minimum 10-year charter with a U.S. oil major, which will provide a stable revenue stream and bolster its financial stability.
- Contracted Revenue Assurance: Tsakos Energy Navigation's fleet has secured minimum contracted revenues of $3.5 billion, reflecting the company's strong bargaining power in the market and long-term business sustainability.
- Market Outlook: While investors remain cautious about the company's prospects, the increase in new vessel orders and long-term charters signifies substantial growth potential for Tsakos Energy Navigation in the LNG transportation sector, potentially supporting future shareholder returns.
See More
TEN Ltd. Holds Annual Shareholders Meeting
- Successful Shareholder Meeting: TEN Ltd. held its Thirty-Third Annual General Meeting on May 27, 2026, in Athens, achieving the required quorum with all proposed resolutions receiving at least 93.8% approval, reflecting strong shareholder confidence in governance.
- Board Elections and Financial Audit: The meeting approved the election of a new director and the re-election of three retiring directors, alongside the acceptance of the 2025 audited financial statements, ensuring transparency and compliance in financial reporting.
- Appointment of Auditors: TEN appointed Ernst & Young (Hellas) as auditors for the fiscal year ending December 31, 2026, and authorized the Audit Committee to determine their remuneration, enhancing the professionalism and independence of the company's financial audits.
- Company Overview: Founded in 1993, TEN operates a diversified fleet of 83 vessels, including 10 DP2 shuttle tankers and 3 VLCCs, showcasing its strong competitive position and growth potential in the global shipping market.
See More
Tsakos Energy Navigation Q1 2026 Earnings Highlights
- Earnings Beat Expectations: Tsakos Energy Navigation reported a GAAP EPS of $2.72 for Q1 2026, exceeding expectations by $0.70, indicating the company's strong profitability in a robust market.
- Significant Revenue Growth: The company achieved revenues of $253 million in the first quarter, reflecting a 28.4% year-over-year increase and surpassing market expectations by $37 million, showcasing strong demand and market share gains in the shipping industry.
- Substantial EBITDA Increase: Adjusted EBITDA for Q1 2026 reached $154 million, up 55% from $99.3 million in Q1 2025, highlighting significant improvements in cost control and operational efficiency.
- Solid Cash Reserves: As of March 31, 2026, the company maintained robust cash reserves of approximately $321.4 million, ensuring financial flexibility for future investments and operations, thereby enhancing market confidence.
See More
TEN Reports 160% Increase in Q1 2026 Net Income
- Significant Net Income Growth: TEN reported a net income of $89 million for Q1 2026, translating to $2.72 per share, which is a remarkable 160% increase from $37.7 million and $1.04 per share in Q1 2025, indicating strong performance and enhanced profitability in the market.
- EBITDA Surge: The adjusted EBITDA for Q1 2026 reached $154 million, up 55% from $99.3 million in Q1 2025, reflecting the company's success in operational efficiency and cost management, thereby strengthening its financial stability.
- Record Dividend Distribution: TEN announced a dividend of $1.00 per share for 2026, marking a 36% increase from 2025 and the highest dividend in over a decade, demonstrating the company's commitment to shareholder returns and robust cash flow.
- Newbuilding Program on Track: TEN's 22-vessel newbuilding program is on schedule, totaling 3 million dwt, ensuring the company's competitiveness and growth potential in future markets while providing enhanced service efficiency to clients.
See More
Tsakos Energy Navigation Set to Announce Q1 Earnings
- Earnings Announcement: Tsakos Energy Navigation is set to release its Q1 2023 earnings report on May 21 before market open, with a consensus EPS estimate of $2.02, reflecting a significant 94.2% year-over-year increase, indicating strong performance in robust markets.
- Revenue Expectations: The anticipated revenue for Q1 stands at $216 million, representing a 9.6% year-over-year growth, which underscores the company's stability in revenue generation and its competitive position within the shipping industry.
- Performance Track Record: Over the past two years, TEN has surpassed EPS estimates 88% of the time and revenue estimates 100% of the time, showcasing its strong profitability and adaptability in the market.
- Estimate Revisions: In the last three months, there has been one upward revision for both EPS and revenue estimates, with no downward adjustments, indicating increased analyst confidence in the company's future performance, which may further drive stock price appreciation.
See More
TEN Ltd. to Report Q1 2026 Financial Results
- Earnings Release Schedule: TEN Ltd. plans to announce its financial results for the first quarter ended March 31, 2026, prior to the market opening on May 21, 2026, which is expected to provide critical financial data and management outlook to help investors assess the company's future performance.
- Conference Call Details: On the same day at 10:00 AM Eastern Time, TEN will host a conference call where senior management will discuss the earnings report and future outlook; participants should dial in 10 minutes early using 877-405-1226 or +1 201-689-7823 to ensure smooth access.
- Webcast and Replay: The call will be available via live audio and slides on the company's website, with participants encouraged to register 10 minutes before the start; an archived audio file will also be accessible post-meeting, allowing investors who cannot attend live to obtain the information.
- Company Background: Founded in 1993, TEN is one of the first and most established public shipping companies globally, currently operating a diversified fleet of 83 vessels, including 10 DP2 shuttle tankers and 3 VLCCs, demonstrating the company's solid position and ongoing growth potential in the shipping industry.
See More
