Slide 1: Tsakos Energy Navigation Q4 and Year End 2007 Earnings Conference Call
, TEN Ltd Teakes Energy Navigation Y = = \oqe WEifen) S38, 200% OAS: VA 200 Earnings ComMerence call, SUPPIEMental Ih Olnatl Ors, boas ae a Pa a is
Slide 2: Forward-looking statements disclaimer
This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Because these forward-looking statemen
Slide 3: Total Fleet (incl. vessels under construction)
TOTAL FLEET (incl. vessels under construction) Ships: 50 Dwt: 5,338,897 Double Hull: 100% Average Age (existing): 5.5 years Average Age of World Fleet: 10.6 years Ice-class vessels: 23 Ice-class dwt: 2,010,579 CRUDE FLEET CLEAN / PRODUCT FLEET Ships: 25 Ships: 25 Dwt: 3,797,006 Dwt: 1,541,891 Ice-cl
Slide 4: Sale & Leaseback ownership
4 * Sale & Leaseback (1) 51% ownership
Slide 5: Global offices and ships still to join the fleet
London Odessa New York ATHENS HQ Ulsan Houston Shanghai Manila Montevideo Still to join the fleet (2008-2010) Product Crude 5
Slide 6: Fleet employment by charter type
Time Charter Time Charter w/Profit Share CoA Spot 6
Slide 7: Forward employment coverage and secured revenues
(Based on employable days remaining) 2008 % Days fixed Revenues 80% $314m 2009 % Days fixed Revenues 62% $250m 39 vessels with period employment (profit-share vessels only at min. rates) have secured: 912 months forward coverage (2.0 years per ship) ● $651 million in revenues 7
Slide 8: Newbuilding delivery schedule 2007-2010
2007 2008 2009 2010 1 Neo Energy 1 Selecao 1 Ise Princess 1 Uraga Princess 2 Arctic 2 Socrates 2 Asahi Princess 3 Antarctic 3 Maria Princess Sapporo 3 Princess 4 Izumo Princess 4 Nikkon Princess 5 Sakoura Princess 6 Andromeda 7 Aegeas Delivered LNG 8 Byzantion 1 Suezmax Natural Gas 9 Bosporos 1 Prod
Slide 9: Financial highlights 2002-2007 and Q4
2002 2003 2004 2005 2006 2007 Q4 2007 Q4 2006 Av. Number of Vessels 18.0 25.7 27.3 26.1 33.8 41.7 43.0 37.0 Total Revenues $130 $241 $318 $296 $428 $501 $131 $112 TCE Revenues, net (2) $105 $193 $276 $260 $359 $429 $114 $98 Net Income $3.9 $59.1 $143.3 $161.8 $196.4 $183.2 $52.2 $77.1 Capital Gains
Slide 10: Balance sheet summary 2005-2007
2005 2006 2007 Cash & Cash equivalents $145,769 $174,567 $181,447 Total Current Assets $191,734 $222,493 $276,053 Advances for vessels under construction $150,428 $261,242 $169,739 Vessels’ net book value $711,362 $1,458,647 $1,900,183 Total Fixed assets $861,790 $1,719,889 $2,069,922 Total Assets $
Slide 11: Dividend Payments (split adjusted)
Dividend Payments (split adjusted) 2002 2003 2004 2005 2006 2007 Installment 1 $0.25 $0.25 $0.35 $0.50 $0.63 $0.83 Installment 2 $0.10 $0.25 $0.48 $0.55 $0.75 $0.90 TOTAL: $0.35 $0.50 $0.83 $1.05 $1.37 $1.73 11
Slide 12: For more information please contact
For more information please contact: ●Paul Durham: pdurham@tenn.gr Chief Financial Officer ●George Saroglou: gsaroglou@tenn.gr Chief Operating Officer ●Harrys Kosmatos: hkosmatos@tenn.gr Senior Manager Corporate Development Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens 175 64 Greece Tel: +