Tsakos Energy Navigation Ltd. Files 6-K for Q2 2025

TL;DR

TNP filed its Q2 2025 6-K, check financials for shipping updates.

AI Summary

Tsakos Energy Navigation Ltd. (TNP) filed a 6-K report for the period ending June 30, 2025. The filing includes financial information and disclosures relevant to the second quarter of 2025. The company is based in Athens, Greece, and operates in the deep-sea foreign transportation of freight sector.

Why It Matters

This filing provides investors with updated financial and operational information for Tsakos Energy Navigation Ltd., crucial for assessing the company's performance and outlook in the shipping industry.

Risk Assessment

Risk Level: low — This is a routine 6-K filing providing financial updates, not indicating any immediate material adverse events.

Key Numbers

• Q2 2025 — Reporting Period (Financial reporting period covered by the 6-K)
• June 30, 2025 — End of Period Date (Specific date for which financial information is reported)

Key Players & Entities

• TSAKOS ENERGY NAVIGATION LTD (company) — Filer
• TNP (company) — Ticker Symbol
• 0001193125-25-225057 (filing_id) — Accession Number
• 20250630 (date) — Period of Report
• 20250930 (date) — Filing Date
• Athens, Greece (location) — Company Headquarters

FAQ

Key Financial Figures

• $193.3 m — ree months ended June 30, 2025, totaled $193.3 million, a 9.7% decrease, compared to $21
• $214.1 million — 3 million, a 9.7% decrease, compared to $214.1 million earned in the three months ended June 3
• $89.7 million — contracts slightly increased by 3.3% to $89.7 million in the second quarter of 2025 from $86.
• $86.8 million — lion in the second quarter of 2025 from $86.8 million in the second quarter of 2024, mainly d
• $2.2 m — to the maritime industry, amounting to $2.2 million, compared to $0.9 million in the
• $0.9 million — amounting to $2.2 million, compared to $0.9 million in the corresponding period of 2024. Th
• $56.2 million — profit-share arrangements increased to $56.2 million in the three months ended June 30, 2025
• $53.4 million — months ended June 30, 2025, compared to $53.4 million in the second quarter of 2024, the incr
• $2.8 m — ted by the impact of EUAs, amounting to $2.8 million, compared to $0.8 million in the
• $0.8 million — amounting to $2.8 million, compared to $0.8 million in the corresponding 2024 period. Howev
• $3.2 million — ements are Byzantion and Bosporos . The $3.2 million reported represents the revenue generat
• $390.4 million — 30, 2025, voyage revenues decreased to $390.4 million from $415.6 million in the first half o
• $415.6 million — venues decreased to $390.4 million from $415.6 million in the first half of 2024, a decrease o
• $25.2 m — n the first half of 2024, a decrease of $25.2 million, or 6.1%, which is primarily attr
• $8.9 million — om time charters attached, amounting to $8.9 million and $10.6 million, respectively, during

Filing Documents

• d79040d6k.htm (6-K) — 1368KB
• 0001193125-25-225057.txt ( ) — 7042KB
• tnp-20250630.xsd (EX-101.SCH) — 100KB
• tnp-20250630_cal.xml (EX-101.CAL) — 81KB
• tnp-20250630_def.xml (EX-101.DEF) — 214KB
• tnp-20250630_lab.xml (EX-101.LAB) — 566KB
• tnp-20250630_pre.xml (EX-101.PRE) — 347KB
• d79040d6k_htm.xml (XML) — 1018KB

MANAGEMENT'S DISCUSSION AND ANALYSIS

MANAGEMENT'S DISCUSSION AND ANALYSIS Results of operations (Percentage calculations are based on the actual amounts shown in the accompanying financial statements) Voyage revenues Voyage revenue earned for the three months ended June 30, 2025 and 2024: 2025 2024 $ million % of total $ million % of total T ime charter-bareboat 6.0 3% 6.3 3% T ime charter-fixed rate 89.7 46% 86.8 41% T ime charter-variable rate (profit-share) 56.2 29% 53.4 25% V oyage charter-spot market 38.2 20% 66.9 30% Pool arrangement 3.2 2% — 0% V oyage charter-contract of affreightment — 0% 0.7 1% T otal voyage revenue 193.3 100% 214.1 100% Voyage revenue earned for the six months ended June 30, 2025 and 2024: 2025 2024 $ million % of total $ million % of total T ime charter-bareboat 12.1 3% 12.5 3% T ime charter-fixed rate 182.9 47% 163.2 39% T ime charter-variable rate (profit-share) 108.0 28% 104.1 25% V oyage charter-spot market 81.4 21% 129.2 31% Pool arrangement 6.0 1% 0.5 0% V oyage charter-contract of affreightment — 0% 6.1 2% T otal voyage revenue 390.4 100% 415.6 100% Voyage revenue earned during the three months ended June 30, 2025, totaled $193.3 million, a 9.7% decrease, compared to $214.1 million earned in the three months ended June 30, 2024. The decrease was primarily driven by weaker tanker market rates compared to the equivalent period of 2024 despite the fact that the tanker market fundamentals being supported by rising global oil demand, low inventories and the unwinding of OPEC plus voluntary production cuts, as well as by ongoing geopolitical tensions that continue to influence trade flows and vessel supply. Total utilization achieved by the fleet (total days that the vessels were actually employed as a percentage of total days in the period that the Company owned or controlled the vessels) was 96.6% in the secon

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View this 6-K filing on SEC EDGAR