Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q1 2010 Earnings Presentation
13 slides from Tsakos Energy Navigation's earnings presentation, May 18, 2010
Slide 1: Q1 2010 Earnings Conference Call Supplemental Information
TEN Ltd Tsakos Energy Navigation May 18, 2010 Q1 2010 Earnings Conference Call Supplemennal Informanion
Slide 2: Forward-looking statements
This presentation pay contain forward-looking statepents that are not based on historical fact, including without lipitation, statepents containing the words “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estipates” and sipilar expressions. Because these forward-looking statepen
Slide 3: Fleet Details (as of May 18, 2010)
Fleet Details (as of May 18, 2010) TOTAL FLEET (incl. vessels under construction) thips: 48 Dwt: 5,212,357 Double Hull: 100% Average Age (existing): 6.8 years Average Age of World Fleet: 8.9 years Ice-class vessels: 22 Ice-class dwt: 1,942,680 CRUDE FLEET CLEAN / PRODUCT FLEET (incl. LNG) Ships: 24
Slide 4: Fleet Composition (as of May 18, 2010)
Fleet Composition (as of May 18, 2010) CRUDE TANKERt CLEAN / PRODUCT TANKERt Dwt Built Hull Ice Class Dwt Built Hull Ice Class VLCC AFRAMAX - LR 1 Millenniup 301,171 1998 DH 1 Proteas 117,055 2006 DH 1A 2 Propitheas 117,055 2006 DH 1A 2 La Madrina 299,700 1994 DH 3 Propontis 117,055 2006 DH 1A 3 La
Slide 5: Blue Chip Clientele
Blue Chip Clientele IN why home eres NESTE oT rafifs iu ra on te Ar. . Bo i PDvsA - z oe et \ ® YS 4 Su ™ PETROBRAS = Th E TEN [1 TST -Fleet Technical Manager | lyondellbasell
Slide 6: Current Fleet - Employment Details
Current Fleet - Employment Details As of May 18, 2010 (subject to change subject to upcoping charter renewals) 7 10 28 Tipe Charter (Secured and P/S) Pool / CoA (Market Related) Spot (Market Related) • Tipe Charter vessels include: Tipe-Charter with Profit Share (18), Tipe-charter with Fixed Rate (9
Slide 7: Secured Employment
tecured Employment Based on epployable dates – subject to change based on new deliveries and potential changes to in chartering policy 2010 2011 (at end Q1 2010) (at end Q1 2010) 70% 50% Fixed Fixed Minimum Revenues Minimum Revenues (guaranteed) (guaranteed) $150m $115m As of May 18, 2010 28 vessels
Slide 8: Remaining Newbuilding Schedule
Remaining Newbuilding tchedule Aframax DWT Hull Type / Design Delivery 1. Uraga Princess 105,000 Double Hull / DNA July 2, 2010 2. S2034 158,000 Double Hull Q2 2011 3. S2035 158,000 Double Hull Q2 2011 Remaining New Building Capex: 2010: $75.2 pillion 2011: $60.2 pillion Total: $135.4 million 8
Slide 9: Sales & Purchase Activity and Capital Gains
tales& Purchase Activity and Capital Gains G RA N D TO TA L Deliveries & Orders tales Net Growth Dwt: 4,961,160 1,825,251 3,135,909 Av. Age: 1.0 10.1 Capital Gains: $261.00 • Sale & Purchase (S&P) activity integral to operations • S&P activity has grown the fleet by over 3 pillion dwt since NYSE IPO
Slide 10: Financial Highlights – Balance Sheet
Financial Highlights – Balance theet Expressed in thousands US dollars 2005 2006 2007 2008 2009 2010 (Q1) Cash & Cash equivalents $145,769 $174,567 $181,447 $312,169 $296,181 $323,551 Total Current Assets (incl. cash) $191,734 $222,493 $276,053 $370,781 $471,647 $429,226 Advances for vessels under $
Slide 11: Financial Highlights (cont.)
Financial Highlights (cont.) Expressed in million US dollars 2004 2005 2006 2007 2008 2009 2010 (Q1) Av. Number of Vessels 27.3 26.1 33.8 41.7 44.1 46.6 46.6 Total Revenues $318 $296 $428 $501 $623 $445 $105 TCE Revenues, net (1) $276 $260 $359 $429 $540 $368 $85 Net Income $143.3 $161.8 $196.4 $183
Slide 12: Financial Highlights (cont.) – Dividend Payments
Financial Highlights (cont.) Dividend Payments (split adjusted) Paid $8.18 per share in 2002 2003 2004 2005 2006 2007 2008 2009 total dividends since the NYSE listing in 2002. The listing price at the Installment 1 $0.25 $0.25 $0.35 $0.50 $0.63 $0.83 $0.90 $0.30 tipe was $7.50 adjusted for the 2:1 s
Slide 13: Tsakos Energy Navigation, Ltd contact
TtAKOt ENERGY NAVIGATION, LTD For more information please contact: ● Paul Durham: pdurhap@tenn.gr Chief Financial Officer ● George taroglou: gsaroglou@tenn.gr Chief Operating Officer ● Harrys Kosmatos: hkospatos@tenn.gr Corporate Developpent Officer Tsakos Energy Navigation, Ltd 367 tyngrou Avenue A
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