TEN LTD
Q2 & 6MO 2021 Earnings Presentation
October 7, 2021
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 statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Such factors include those risks described from time to time in Tsakos Energy Navigation Ltd's (TEN) filings with the Securities and Exchange Commission, including, without limitation, the risks described in TEN's most recent Annual Report on Form 20-F on file with the Securities and Exchange Commission. These factors should be considered carefully and you are cautioned not to place undue reliance on such
forward-looking statements. All information is current as of the date of this presentation, and TEN undertakes no duty to update this information. 2
Crisis-Resistant Growth Model Spanning Four Decades
8 | Far East Crisis | 9/11 Crisis | Credit Crisis | Meets… | COVID Crisis | |
7 | ||||||
6 | ||||||
(dwt) | 5 | |||||
Million | 4 | |||||
3 | ||||||
2 | ||||||
1 | ||||||
0 |
3
Diversified Fleet - Secured Revenues - Market Upside
VLCC | CRUDE TANKERS | |
1 | Hercules | |
2 | Ulysses | |
3 | Artemis Voyager | |
4 | Apollo Voyager | |
5 | Spyros K | |
6 | Dimitris P | |
7 | Arctic (1) | |
SUEZMAX | 8 | Eurovision |
9 | Euro | |
10 | Decathlon | |
11 | Pentathlon | |
12 | Antarctic (1) | |
13 | Archangel (1) | |
14 | Alaska (1) | |
15 | Eurochampion 2004 (1) | |
16 | Euronike (1) | |
17 | Caribbean Voyager | |
18 | Mediterranean Voyager | |
19 | Bergen TS | |
20 | Sola TS | |
21 | Oslo TS | |
22 | Stavanger TS | |
23 | Marathon TS | |
AFRAMAX | 24 | Parthenon TS |
27 | Elias Tsakos | |
25 | Leontios H | |
26 | Thomas Zafiras | |
28 | Uraga Princess | |
29 | Sapporo Princess | |
30 | Asahi Princess | |
31 | Ise Princess | |
32 | Nippon Princess | |
33 | Maria Princess | |
34 | Sakura Princess (1) | |
35 | Izumo Princess | |
1) | Sale & Leaseback | |
2) | 51% owned |
Dwt | Built | Yard | Hull | Ice Class/Other |
300,000 | 2017 | South Korean | DH | |
300,000 | 2016 | South Korean | DH | |
158,000 | 2020 | South Korean | DH | |
158,000 | 2020 | South Korean | DH | |
158,000 | 2011 | South Korean | DH | |
158,000 | 2011 | South Korean | DH | |
163,216 | 2007 | South Korean | DH | 1A |
158,000 | 2013 | South Korean | DH | |
158,000 | 2012 | South Korean | DH | |
158,000 | 2012 | South Korean | DH | |
158,000 | 2009 | South Korean | DH | |
163,216 | 2007 | South Korean | DH | 1A |
163,216 | 2006 | South Korean | DH | 1A |
163,250 | 2006 | South Korean | DH | 1A |
164,608 | 2005 | South Korean | DH | 1C |
164,565 | 2005 | South Korean | DH | 1C |
115,000 | 2020 | South Korean | DH | |
115,000 | 2019 | South Korean | DH | |
112,700 | 2017 | South Korean | DH | |
112,700 | 2017 | South Korean | DH | 1B |
112,700 | 2017 | South Korean | DH | 1B |
112,700 | 2017 | South Korean | DH | 1B |
112,700 | 2017 | South Korean | DH | 1B |
112,700 | 2016 | South Korean | DH | |
112,700 | 2016 | South Korean | DH | |
112,700 | 2016 | South Korean | DH | |
112,700 | 2016 | South Korean | DH | |
105,344 | 2010 | Japanese | DH | |
105,354 | 2010 | Japanese | DH | |
105,372 | 2009 | Japanese | DH | |
105,361 | 2009 | Japanese | DH | |
105,346 | 2008 | Japanese | DH | |
105,392 | 2008 | Japanese | DH | |
105,365 | 2007 | Japanese | DH | |
105,374 | 2007 | Japanese | DH |
Vessels in Fixed TC Contracts (at Oct 7, 2021) Vessels in TC w/Profit Share contracts (at Oct 7, 2021) Spot contracts (at October 7, 2021)
AFRAMAX LR2
PANAMAX LR1
MR
SHUTTLE LNGHANDY
COATED TANKERS
- TBN
- TBN
- TBN
- TBN
- Proteas
- Promitheas
- Propontis
- Sunrise
- Sunray
- World Harmony
- Chantal
- Selini (2)
- Salamina (2)
- Selecao
- Socrates
- Andes
- Inca (2)
- Ajax
- Afrodite
- Apollon
- Ariadne
- Artemis
- Aris
- Byzantion (2)
- Bosporos (2)
- Andromeda
- Aegeas
- Amphitrite
- Arion
- Tenergy
- Maria Energy
- Neo Energy
- Porto
- Lisboa
- Rio 2016
- Brasil 2014
Dwt | Built | Yard | Hull | Ice Class/Other |
115,000 | 2024 | South Korean | DH | Dual - Fuel LNG |
115,000 | 2024 | South Korean | DH | Dual - Fuel LNG |
115,000 | 2023 | South Korean | DH | Dual - Fuel LNG |
115,000 | 2023 | South Korean | DH | Dual - Fuel LNG |
117,055 | 2006 | South Korean | DH | 1A |
117,055 | 2006 | South Korean | DH | 1A |
117,055 | 2006 | South Korean | DH | 1A |
74,000 | 2016 | South Korean | DH | |
74,000 | 2016 | South Korean | DH | |
74,200 | 2009 | South Korean | DH | |
74,329 | 2009 | South Korean | DH | |
74,296 | 2009 | South Korean | DH | |
74,251 | 2009 | South Korean | DH | |
74,296 | 2008 | South Korean | DH | |
74,327 | 2008 | South Korean | DH | |
68,439 | 2003 | Japanese | DH | |
68,439 | 2003 | Japanese | DH | |
53,095 | 2005 | South Korean | DH | 1A |
53,082 | 2005 | South Korean | DH | 1A |
53,149 | 2005 | South Korean | DH | 1A |
53,021 | 2005 | South Korean | DH | 1A |
53,039 | 2005 | South Korean | DH | 1A |
53,107 | 2005 | South Korean | DH | 1A |
37,275 | 2007 | South Korean | DH | 1B |
37,275 | 2007 | South Korean | DH | 1B |
37,061 | 2007 | South Korean | DH | 1A |
37,061 | 2007 | South Korean | DH | 1A |
37,061 | 2006 | South Korean | DH | 1A |
37,061 | 2006 | South Korean | DH | 1A |
81,479 | 2021 | South Korean | DH | 174,000m3 |
86,000 | 2016 | South Korean | DH | 174,000m3 |
85,602 | 2007 | South Korean | DH | 150,000m3 |
155,000 | 2022 | South Korean | DH | DP2 |
157,000 | 2017 | South Korean | DH | DP2 |
157,000 | 2013 | South Korean | DH | DP2 |
157,000 | 2013 | South Korean | DH | DP2 |
69% of Fleet in the Water (TC P/S, CoA and Spot) with Market Exposure
49% in Secured Contracts (TC, TC P/S & CoA)
4
Timely Acquisitions => Low 6mo 2021 B/E Rates*
*Breakeven rates after Operating Expenses, G&A, Interest and Depreciation
2 VLCC
14 SUEZMAX
19 AFRAMAX
3 AFRAMAX
LR2
10 PANAMAX
LR1
6 HANDYMAX
MR
6 HANDYSIZE
2 | (1) | LNG |
3 | (2) | DP2 |
SHUTTLE | ||
$200,000,000 | |||
$26,309 | |||
$180,000,000 | Spot | ||
$22,479 | |||
$160,000,000 | |||
$17,852 | |||
$140,000,000 | |||
$18,319 | $120,000,000 | ||
$14,862 | $100,000,000 | CharterTime | Expenses |
$15,946 | $80,000,000 | ||
$10,913 | $60,000,000 | ||
$40,403 | $40,000,000 | ||
$20,000,000 | |||
$30,756 | |||
$0 |
Every $1,000pd Increase in Spot Rates has a Positive $0.62 Impact in Annual EPS
(Based on Current Vessels in Spot Contracts Only)
(1) | Excludes one LNG under construction | Note: | |
(2) | Excludes one DP2 Shuttle Tanker under construction | Spot net of Voyage Expenses | 5 |
(3) | Number of vessels in each sector as per 6mo 2021 | Expenses = Opex +Finance Expenses+ Commissions + Overheads + Charter Hire |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
TEN - Tsakos Energy Navigation Limited published this content on 07 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2021 14:56:05 UTC.