Recent Updates — TEN

Tsakos Energy Navigation reported a 54.4% increase in Q2 2026 voyage revenue to $298.4 million and a 41.2% increase for the first half of 2026 to $551.4 million, driven by strong tanker market rates and elevated European Union Allowance (EUA) revenues. The company sold its VLCC tanker Ulysses in Q2 for net proceeds of $106.4 million, recognizing a $37.9 million gain. Average daily Time Charter Equivalent (TCE) rates rose 49.8% to $46,100 in the quarter and 41.5% to $43,503 for the six-month period. Fleet utilization decreased slightly to 94.8% due to dry-docking activity. The Board declared a $1.00 per common share dividend payable in July 2026. Tsakos Energy Navigation operates as an international tanker owner and operator.