ATHENS, GREECE--(Marketwire - October 26, 2010) - Tsakos Energy Navigation Ltd. ("TEN" or "the Company") (
TEN is a leading provider of international seaborne crude oil and petroleum product transportation services that operates a fleet of modern crude oil carriers and petroleum product tankers providing world-wide marine transportation services for national, major and other independent oil companies and refiners under long, medium and short-term charters.
TEN's common shares are listed on the New York Stock Exchange under the symbol "TNP."
The underwriter for this offering is Credit Suisse.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer is filing with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Credit Suisse will arrange to send you the prospectus if you request it by calling toll free 1-800-221-1037.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This offering may be made only by means of a prospectus supplement and accompanying base prospectus.
About Tsakos Energy Navigation
TEN's pro forma fleet, which includes two newbuild suezmax tankers that are expected to be delivered in the second and third quarters of 2011 and one 2009-built panamax tanker that is expected to be delivered later this quarter, consists of 50 vessels with an average age of 6.5 years and approximately 5.3 million dwt, 21 of which are ice-class design.
FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that include assumptions, expectations, projections, intentions and beliefs about future events. We caution that the forward-looking statements included in this press release represent our estimates and assumptions only as of the date hereof and are not intended to give any assurance as to future results. These forward-looking statements are not statements of historical fact and represent only our management's belief as of the date hereof, and involve risks and uncertainties that could cause actual results to differ materially and adversely from expectations expressed in or indicated by the forward-looking statements. Assumptions, expectations, projections, intentions and beliefs about future events may, and often do, vary from actual results and these differences can be material. There are a variety of factors, many of which are beyond our control, which affect our operations, performance, business strategy and results and could cause actual reported results and performance to differ materially from the performance and expectations expressed in these forward-looking statements. These factors include, but are not limited to, supply and demand for crude oil carriers and product tankers, charter rates and vessel values, supply and demand for crude oil and petroleum products, accidents, collisions and spills, environmental and other government regulation, the availability of debt financing, fluctuation in currency exchange rates and interest rates and the other risks and uncertainties that are outlined in our Annual Report on Form 20-F for the fiscal year ended December 31, 2009, filed with the Securities and Exchange Commission (the "SEC") on April 9, 2010, as amended by Amendment No. 1 to the Form 20-F, filed with the SEC on October 25, 2010. As a result, the forward-looking events discussed in this press release might not occur and our actual results may differ materially from those anticipated in the forward-looking statements. Accordingly, you should not unduly rely on any forward-looking statements. We undertake no obligation to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events, a change in our views or expectations or otherwise after the date hereof. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.
Contact Information:
For further information, please contact:
Company
Tsakos Energy Navigation Ltd.
George Saroglou
COO
+30210 94 07 710
gsaroglou@tenn.gr
Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis
Ramnique Grewal
+212 661 7566
ten@capitallink.com
Communications Advisor
Cubitt, Jacobs & Prosek Communications
Thomas J. Rozycki, Jr.
+212 279 3115 (x208)
trozycki@cjpcom.com