Tsakos Energy (TEN) are usually one of the last shipping entities to report. But not in Q1 2026. TEN reported last week, ahead of a few shipping companies (NAT a few days ago, BWLP still to report). Included in the results
- Voyage rev $253M
- Operating Income $109.7M
- Net Income (to common TEN shareholders) $81.7M
- Declared div to common $1/sh
- TCE per day(across fleet) $40,960
A decent size newbuild mix to deliver over the next few years 18 vessels + 1 LNG newbuild option
https://static.seekingalpha.com/uploads/sa_presentations/602/129602/original.pdf
Decent min charter backlog of $3.6B - However, it should be mentioned, a majority of that, or $2B worth, applies to a fleet of 9 newbuild Suezmax that have not delivered.