Tsakos Energy Navigation Ltd · NYSE:TEN
Tsakos Energy Navigation — Q2 2009 Earnings Presentation
12 slides from Tsakos Energy Navigation's earnings presentation, Aug 5, 2009
Slide 1: Tsakos Energy Navigation Q2 2009 Earnings Conference Call
TEN Ltd Tsakos Energy Navigation August 5, 2009 Q2 2009 Earnings Conference Call Supplemental Information
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
Slide 3: Fleet Details (as of August 5, 2009)
Fleet Details (as of August 5, 2009) TOTAL FLEET (incl. vessels under construction) Ships: 52 Dwt: 5,657,862 Double Hull: 100% Average Age (existing): 6.6 years Average Age of World Fleet: 9.5 years Ice-class vessels: 23 Ice-class dwt: 2,010,837 CRUDE FLEET CLEAN / PRODUCT FLEET Ships: 27 Ships: 25
Slide 4: Fleet Composition (as of August 5, 2009)
Fleet Composition (as of August 5, 2009) CRUDE TANKERS CLEAN / PRODUCT TANKERS Dwt Built Hull Ice Class Dwt Built Hull Ice Class VLCC AFRAMAX - LR 1 Millennium 301,171 1998 DH 1 Proteas 117,055 2006 DH 1A 2 La Madrina 299,700 1994 DH 2 Promitheas 117,055 2006 DH 1A 3 La Prudencia 298,900 1993 DH 3 P
Slide 5: Blue Chip Clientele
Blue Chip Clientele yey Sere rren® Neste on Trafifura Pac B eG j tp eovss : = PETROBRAS E Tex a TSI ~ Fleet Technical Manager PHILLIPS lyondellbasell =>
Slide 6: Employment Details
Employment Details As of August 5, 2009 (subject to change subject to upcoming charter renewals) 3 11 33 Secured Employment * Pool (Market Related) Spot (Market Related) • Secured Employment includes vessels on Time-Charter with Profit Share (18), Time-charter with Fixed Rate (10), CoA (4) & Bareboa
Slide 7: Secured Employment
Secured Employment Based on employable dates – subject to change based on new deliveries and potential changes to in chartering policy 2009 2010 (as of 6/30/09) (as of 6/30/09) 66% 44% Fixed Fixed Minimum Revenues Minimum Revenues (guaranteed) (guaranteed) $120m $170m As of August 5, 2009 33 vessels
Slide 8: Remaining Newbuilding Schedule
Remaining Newbuilding Schedule Aframax DWT Hull Type / Design Delivery 1. Ise Princess 105,000 Double Hull / DNA July 17, 2009 2. Asahi Princess 105,000 Double Hull / DNA September 15, 2009 3. Sapporo Princess 105,000 Double Hull / DNA January 8, 2010 4. Uraga Princess 105,000 Double Hull / DNA May
Slide 9: Financial Highlights – Balance Sheet
Financial Highlights – Balance Sheet Expressed in thousands US dollars 2005 2006 2007 2008 1H 2009 Cash & Cash equivalents $145,769 $174,567 $181,447 $312,169 $308,664 Total Current Assets (incl. cash) $191,734 $222,493 $276,053 $370,781 $371,065 Advances for vessels under $150,428 $261,242 $169,739
Slide 10: Financial Highlights (cont.)
Financial Highlights (cont.) Expressed in million US dollars 2004 2005 2006 2007 2008 1H 2009 Q2 2009 Av. Number of Vessels 27.3 26.1 33.8 41.7 44.1 46.0 46.0 Total Revenues $318 $296 $428 $501 $623 $240 $114 TCE Revenues, net (2) $276 $260 $359 $429 $540 $204 $93 Net Income $143. $161. $196. $183.
Slide 11: Financial Highlights (cont.) – Dividends and Share Buyback
Financial Highlights (cont.) Dividend Payments (split adjusted) 2002 2003 2004 2005 2006 2007 2008 Installment 1 $0.25 $0.25 $0.35 $0.50 $0.63 $0.83 $0.9 0 Installment 2 $0.10 $0.25 $0.48 $0.55 $0.75 $0.90 $0.8 5 TOTAL: $0.35 $0.50 $0.83 $1.05 $1.37 $1.73 $1.7 5 Share Buyback In Q1 2008 TEN repurcha
Slide 12: Tsakos Energy Navigation, Ltd – Contact
TSAKOS ENERGY NAVIGATION, LTD 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 Corporate Development Officer Tsakos Energy Navigation, Ltd 367 Syngrou Avenue A
Tsakos Energy Navigation — Q2 2009 Earnings Presentation on 6ix