Tsakos Energy Navigation Ltd · NYSE:TEN

Tsakos Energy Navigation — Q3 2006 Earnings Presentation

19 slides from Tsakos Energy Navigation's earnings presentation, Nov 9, 2006

  1. Slide 1: 3rd Quarter 2006 Earnings Call Supplementary Information

    TSAKOS ENERGY NAVIGATION, LTD 3rd Quarter 2006 Earnings Call Supplementary Information November 9th, 2006

  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 Details

    Fleet Details Ships: 52 Dwt: 5,490,673 TOTAL FLEET Average Age: 5.7 years Average Age of World Fleet: 11.2 years Double Hull: 100% Ice-class vessels: 24 (46.2% of total fleet) Ice-class dwt: 2,069,151 (37.7% of total fleet) CRUDE FLEET CLEAN / PRODUCT FLEET Ships: 26 Ships: 26 Dwt: 3,898,857 Dwt: 1,

  4. Slide 4: Fleet Composition

    Fleet Composition CLEAN / PRODUCT TANKERS CRUDE TANKERS Dwt Built Hull Ice Class Dwt Built Hull Ice Class LR - AFRAMAX VLCC 1 Proteas 116,000 2006 DH 1A 1 Millennium 301,171 1998 DH 2 Promitheas 116,000 2006 DH 1A 2 La Madrina 299,700 1994 DH 3 Propontis 116,000 2006 DH 1A 3 La Prudencia 298,900 199

  5. Slide 5: Fleet Growth

    Fleet Growth  Since inception in 1993 our fleet, in terms of dwt, has had a CAGR of 25% 4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 o) 93 94 95 96 97 98 99 00 01 02 03 04 06 05 m 19 19 19 19 19 19 19 20 20 20 20 20 20 20 (9 5

  6. Slide 6: Major Vessel Charterers

    ; Major Vessel Charterers wy He _euolsta Ecuatoriana NESTE OIL & LYONDELL Suni ExonMobil bi wv PETROBRAS HMM Tratifjura sibtert » . PETROECUADOR CITGO 5 6

  7. Slide 7: Employment Profile (as of Nov. 2006) - Fixed and Time Charters

    Employment Profile (as of Nov. 2006) Fixed Charters & Time Charters with profit share VESSEL TYPE RATE TO EXPIRY COMMENTS TEN BAREBOAT 1 Millennium VLCC $25,500 Sep. 2013 TCE about $40,000 TIME 2 Cape Baker Suezmax $36,000 Oct. 2009 CHARTER 3 Cape Balboa Suezmax $36,000 Oct. 2009 4 Euronike Suezmax

  8. Slide 8: Employment Profile (as of Nov. 2006) - COA, Pool & Spot

    Employment Profile (as of Nov. 2006) Contracts of Afreightment, Pooling Arrangements & Spot VESSEL TYPE RATE TO EXPIRY COMMENTS TEN COA 1 Parthenon Aframax $ 52,600 n/a Evergreen contract 2 Athens 2004 Aframax $ 52,600 n/a Evergreen contract 3 Marathon Aframax $3 8,500 Aug. 200 7 Evergreen contract

  9. Slide 9: Secured Revenues (as of October 31st, 2006)

    Secured Revenues (as of October 31st, 2006) (Based on employable days and assuming current operational fleet of 37 vessels) 2006 % Days fixed (Remaining) Revenues 93% $85m 2007 % Days fixed (So far to date) Revenues 80% $250m 2008 % Days fixed (So far to date) Revenues 70% $220m 9

  10. Slide 10: Newbuilding Program

    Newbuilding Program 2007 2008 2009 1 Arctic 1 DNA (tbn) 1 DNA (tbn) 2 Antarctic 2 DNA (tbn) 2 DNA (tbn) 3 Neo Energy 4 DNA (tbn) 5 DNA (tbn) 6 LR (tbn) 7 LR (tbn) 8 Andromeda 1 Ice-class LNG Suezmax 9 Aegeas 1 Product Aframax 10 Bosporos 1 Crude Panamax Handysize 11 Byzantion 10

  11. Slide 11: Newbuildings to be fixed (as of October 31st, 2006)

    Newbuildings to be fixed (as of October 31st, 2006) Name Type Ice-Class Delivery 1. Arctic Suezmax 1A 01/2007 2. Antarctic Suezmax 1A 04/2007 3. Andromeda Handysize Product 1A 03/2007 4. Aegeas Handysize Product 1A 04/2007 5. Byzantion Handysize Product 1B 05/2007 6. Bosporos Handysize Product 1B 08

  12. Slide 12: Sale & Purchase Activity

    Sale & Purchase Activity Q1 Q2 Q3 Q4 La Madrina* Aegeas Between 2004 and Nov. 2006 Andromeda Aframax-DNA Arion Delos* Antarctic DELIVERIES & Antares LNG Arctic Aframax - Wide 825,000dwt were disposed 2004 NB ORDERS 446,000dwt 112,000dwt 430,000dwt 113,000dwt (13.6yrs average age) and 3.2 million dwt

  13. Slide 13: Financial Highlights

    Financial Highlights 2003 2004 2005 2006 (9mo) 2006 (Q3) Average # of Vessels 25.7 27.3 26.1 32.7 37.1 TCE Revenues, net $193 $276 $260 $261 $98 Net Income $59.1 $143.3 $161.8 $119.3 $44.5 Gain on Vessel Sales $16 (1) $21 $45.3 $13.3 $13.3 EPS, diluted $3.44 $7.51 $8.17 $6.25 $2.33 ROE 22.1% 45.5% 3

  14. Slide 14: Shareholders Value

    Shareholders Value 1. Dividend Policy - Paid in 2 semi-annual installments - Between 25-50% of Net Income 2002 2003 2004 2005 2006 (9mo) Net Income $3,894 $59,052 $143,290 $161,755 $119,290 Installment 1 $0.50 $0.50 $0.70 $1.00 $1.25 (October) Installment 2 (April following calendar year) $0.20 $0.5

  15. Slide 15: Appendices

    APPENDICES j

  16. Slide 16: Appendix 1

    Appendix 1 Year to date the six companies tanker index has kept pace with the S&P 500 with a return to date of 12.72% vs. 12.27%. TEN’s return has been double that of these benchmarks at 25.73%

  17. Slide 17: Appendix 2

    Appendix 2 The past 56 months since TEN’s listing on the NYSE have been very rewarding for stocks of leading tanker operators. The annualized return of a six companies index has far exceeded the S&P 500 at 26.82% vs. 5.75%. TEN has exceeded even this high standard at 32.13%

  18. Slide 18: Appendix 3

    Appendix 3 Year to date, among the six companies in the Bloomberg Tanker Index TEN has outperformed the peer group

  19. Slide 19: Tsakos Energy Navigation, Ltd contact information

    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 Senior Manager – Corporate Development Tsakos Energy Navigation, Ltd 367 Syngrou Avenu

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