Tsakos Energy Navigation: Fifth-Best Performer in 2018


Nov. 20 2020, Updated 1:33 p.m. ET

YTD performance

Tsakos Energy Navigation’s (TNP) YTD (year-to-date) returns were -12.8% as of April 5, 2018. Tsakos Energy Navigation is the fifth-best performer among its peers on a YTD basis behind DHT Holdings (DHT), Frontline (FRO), Euronav (EURN), and Gener8 Maritime Partners (GNRT). Its peers had YTD returns 1.1%, -1.5%, -9.2%, and -10%, respectively. Tsakos Energy Navigation has underperformed the shipping ETF and the broad equity market indexes. Since the beginning of 2018, the Guggenheim Shipping ETF (SEA) has fallen 10%. Oil and gas transportation companies account for 47.7% of SEA. The Dow Jones Industrial Average (DIA) has fallen -2% YTD as of April 5, 2018. The SPDR S&P 500 ETF (SPY) has fallen -1.2% during the same period.

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Tsakos Energy Navigation’s fleet

Tsakos Energy Navigation operates crude tankers and product tankers. Tsakos Energy Navigation’s fleet consists of 65 vessels—47 crude tankers, 13 product tankers, three shuttle tankers, and two LNG carriers.

4Q17 highlights

Tsakos Energy Navigation’s net income for 4Q17 was $2.7 million before non-cash items. The company had cash liquidity of $202.7 million as of December 31, 2017. Tsakos Energy Navigation has 77% of the fleet under secured contracts with $1.3 billion in minimum revenues and an average charter life of 2.6 years. In 4Q17, Tsakos Energy Navigation successfully completed its 15-vessel newbuild program. The company sold two Suezmax tankers built in 2005 through a sale and leaseback transaction. Tsakos Energy Navigation paid a dividend of $0.05 per share in December 2017.

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