Tsakos Energy Navigation Ltd · NYSE:TEN

Tsakos Energy Navigation — Q3 2013 Earnings Presentation

17 slides from Tsakos Energy Navigation's earnings presentation, Nov 22, 2013

  1. Slide 1: Q3 & 9 Months 2013 Earnings Conference Call

    TEN Ltd Tsakos Energy Navigation November 22, 2013 1 Q3 & 9 Months 2013 Earnings Conference Call

  2. Slide 2: Forward-looking statements

    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

  3. Slide 3: Fleet Composition

    20 Years in the Fleet Composition Capital Markets Crude LNG Product 19 2 DP2 Shuttle 28 Empire State VLCC Suezmax Aframax LNG Suezmax Aframax Panamax Handymax Handysize 1,250 1,100 900 850 750 900 850 750 615’ 570’ 300,000dwt 160,000dwt 100,000dwt 85,000dwt 160,000dwt 100,000dwt 70,000dwt 50

  4. Slide 4: Positive Long-term Outlook

    20 Years in the Positive Long-term Outlook Capital Markets Global Demand Global Oil Demand (in mbpd) Strong potential of China and India with a combined population of 2.5 billion in a world of 7.0 billion. Their per capita oil consumption is at 94 extremely low levels and have already embarked on a

  5. Slide 5: Corporate Facts

    20 Years in the Corporate Facts Capital Markets  49 vessels (pro forma)  Active fleet utilization in Q3 2013 at 98.4%  48 in operation  1x LNG under construction (plus  73% of remaining 2013 (11/21) and 60% of 2014 one option) available days in secured revenue contracts (including CoAs / Pools)

  6. Slide 6: 9-Months 2013 Highlights

    20 Years in the 9-Months 2013 Highlights Capital Markets  Voyage revenues of $313.4 million ($293.7 in 9Mo 2012)  EBITDA of $103.5 million (17.9% increase from 9Mo 2012)  $28.0 million in operating income vs. $11.9 million in 9Mo 2012, (135% increase)  Net Income/(Loss) of $(1.9) million vs. $(2

  7. Slide 7: Fleet (as of November 21, 2013)

    20 Years in the Fleet (as of November 21, 2013) Capital Markets CLEAN/PRODUCT TANKERS CRUDE TANKERS Dwt Built Hull Ice Class/Other Dwt Built Hull Ice Class/Other SUEZMAX - SHUTTLE VLCC 1 Rio 2016 157,000 2013 DH DP2 1 Millennium 301,171 1998 DH 2 Brasil 2014 157,000 2013 DH DP2 SUEZMAX AFRAMAX - LR

  8. Slide 8: Repeat Customers – Blue Chip Clientele

    20 Years in the Repeat Customers – Blue Chip Clientele Capital Markets Top Customers Rating (1) % of 2012A Revenue Petrobras A3 / BBB 16.70% Exxon Aaa / AAA 13.81% Flopec NR / NR 9.54% Shell Aa1 / AA 8.19% HMM A- / A- 6.64% BG A2 / A 6.18% BP A2 / A 5.41% Long-term, blue-chip, recurring customer bas

  9. Slide 9: Employment Details (as of November 21, 2013)

    20 Years in the Employment Details (as of November 21, 2013) Capital Markets 11 3 1 21 12 TC (Fixed) TC (P/S) CoA (Spot Related) Pool (Spot Related) Spot Flexible Employment Secured Employment 9

  10. Slide 10: Secured Revenues (including TC, TC w/PS, Pool)

    20 Years in the Secured Revenues (including TC, TC w/PS, Pool) Capital Markets Based on employable dates and includes vessels under time charter, time charter with profit share (only minimum rate) and Pool/CoAs (Subject to deliveries and potential changes in TEN’s chartering policy ) Remaining 2013

  11. Slide 11: Sale & Purchase Activity – Capital Gains

    20 Years in the Sale & Purchase Activity – Capital Gains Capital Markets  Sale & Purchase activity integral to operations – Close to 100 transactions - realizing actual value  Since 2003 TEN has generated capital gains from its sale & purchase activity close to $280 million  $28 million average p

  12. Slide 12: Continuous Dividend Payments

    20 Years in the Continuous Dividend Payments Capital Markets On June 4th, 2010 the Board of Directors declared a change in TEN’s dividend policy from semi-annual to quarterly payments  Dividend payments far in excess of original IPO price of $7.50/share  Today investors have gotten $9.725/share in

  13. Slide 13: Income Statement

    20 Years in the Income Statement Capital Markets Three months ended Nine months ended September 30 September 30 STATEMENT OF OPERATIONS DATA 2013 2012 2013 2012 Voyage revenues $ 107,564 $ 92,409 $ 313,348 $ 293,686 Commissions 4,166 3,375 12,018 8,548 Voyage expenses 29,557 24,812 86,501 82,700 Ves

  14. Slide 14: Balance Sheet

    20 Years in the Balance Sheet Capital Markets BALANCE SHEET DATA September 30 December 31 September 30 2013 2012 2012 Cash, restricted cash and marketable securities 173,094 162,153 164,275 Other assets 82,813 80,889 126,630 Vessels, net 2,223,546 2,088,358 2,124,215 Advances for vessels under const

  15. Slide 15: Other Financial / Fleet Data

    20 Years in the Other Financial / Fleet Data Capital Markets Three months ended Nine months ended OTHER FINANCIAL DATA September 30 September 30 2013 2012 2013 2012 Net cash from operating activities $ 31,668 $ 4,824 $ 104,230 $ 39,457 Net cash used in investing activities $ (15,578) $ (50,574) $ (1

  16. Slide 16: APPENDIX: World Tanker Fleet vs. Newbuilding Orderbook

    APPENDIX : World Tanker Fleet vs. Newbuilding Orderbook 4,500 4,257 4,343 4,162 4,000 3,862 4,000 3,500 3,000 2,500 2,000 1,500 1,059 892 1,000 600 490 463 500 0 27.4% 22.3% 14.4% 11.5% 10.7% 2009 2010 2011 2012 2013 (Oct) Orderbook Fleet 16 Source: Clarkson Research Studies, Oil & Tanker Trades Out

  17. Slide 17: Tsakos Energy Navigation, Ltd

    TSAKOS ENERGY NAVIGATION, LTD For more information please contact: Paul Durham: Chief Financial Officer pdurham@tenn.gr George Saroglou: Chief Operating Officer gsaroglou@tenn.gr Harrys Kosmatos: Corporate Development Officer hkosmatos@tenn.gr Tsakos Energy Navigation, Ltd 367 Syngrou Avenue Athens

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