Sector(s): EnergyIndustry: Oil & Gas MidstreamFull Time Employees: Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. View post tag: IMO 2020 View post tag: Scrubber View post tag: Tsakos Energy Navigation Share this article. As Tsakos insisted, challengers persist but have been put on the back-burner due to COVID-19. With respect to fleet rejuvenation plans, Tsakos said selling older assets is a very important part of the company’s strategy, with half-a-dozen ships earmarked for sales once the markets and assets values pick up. Amounts are as of and compensation values are for the last fiscal year ending on that date.

The company was formerly known as MIF Limited and changed its name to Tsakos Energy Navigation Limited in July 2001. Mobilisation engineering: we can design and execute vessel conversions, perform equipment performance and integration analysis and provide you […], Chevron Marine Lubricants: Issues arising from VLSFO use have very little to do with fuel quality, Pacific Basin CEO: We won’t be investing in any more scrubbers, Titan completes SIMOPs LNG bunkering at Port of Antwerp, Tsakos: We have four ships facing serious engine problems due to poor bunker quality, TEN orders up to three shuttle tankers in South Korea, Fuel oil quality survey sheds light on problems faced by owners during transition to LSFO, Study: Scrubbers have lower well-to-wake CO2 footprint than low-sulphur fuels, BIMCO: Scrubber-fitted containerships overtake crude tankers, Saudi Arabia bans wash water discharge from open-loop scrubbers. Exercised is the value of options exercised during the fiscal year. Announces Date of Second Quarter and Six Months 2020 Financial Results, Conference Call and Webcast, TEN Ltd. Declares Dividend on its Series D and Series E Cumulative Perpetual Preferred Shares, TEN Ltd. CEO to Join ‘Deep Dive into TEN & the Tanker Sector’ Webinar on Thursday, July 16, 2020 at 11 am EDT, TEN, Ltd Announces Long-Term Charters for up to Three N/B Suezmax DP2 Tankers, TEN Ltd. Declares Dividend on its Series C and Series F Cumulative Redeemable Perpetual Preferred Shares, Tsakos Energy Navigation Ltd. (NYSE:TNP) to Present at June 2020 Lytham Partners Virtual Investor Growth Conference, TEN Ltd. Tsakos Energy Navigation Ltd. owns and operates a fleet of tankers. “Our decision was purely based on a gut feeling that it was not good to throw all this rubbish into the sea.”. TEN did not install any scrubbers on board its ships. Earlier this month the company ordered three shuttle tankers on the back of a long-term charter. Hence, the charterers would bear the costs of the downtime and repairs affected ships have to undergo as a result of these issues. Tsakos Energy Navigation Limited’s ISS Governance QualityScore as of N/A is N/A. As explained, the company didn’t even consider the financial benefits from the potential installation of scrubbers due to the environmental position on the technology. Seven months into the implementation of the IMO 2020 sulphur cap, which shaped a monumental shift for the shipping industry to less-polluting fuels, the issues with regard to the quality of bunkers persis, despite being sidetracked by the COVID-19 pandemic. The pillar scores are Audit: N/A; Board: N/A; Shareholder Rights: N/A; Compensation: N/A. The share of the containership fleet fitted with scrubbers exceeded that of the crude oil tanker fle... Saudi Ports Authority is the latest port to prohibit discharges of exhaust wash water in its waters ... Our services include: Vessel design: designing and building a vessel is a complex task. Currency in USD. Discover new investment ideas by accessing unbiased, in-depth investment research, NYSE - NYSE Delayed Price. TEN is a diversified energy company with a 150-year reputation, which owns and operates crude tankers, product tankers, shuttle tankers, as well as LNG carriers.

As of April 2, 2020, it operated a fleet of 65 double-hull vessels.

The IMO 2020 did create a lot of hype on the market in relation to the availability and quality of the new bunkers.

Tsakos Energy Navigation Ltd. owns and operates a fleet of tankers. So, LNG is becoming more of a question mark than a year ago.”. 367 Syngrou AvenueP. “Our ships are still suffering huge financial losses from the quality of the new generation of cocktails of bunkers provided. © 2020 Verizon Media. TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES: Selected Consolidated Financial and Other Data (In Thousands of U.S. Namely, the company has 45 vessels on long-term charters, that are basically employed on securing the company’s financial costs are covered, while the remaining 25 vessels are employed on the spot market, with their earnings assigned to cover shareholders’ dividends.

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