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Explain this story: Tsakos Energy Navigation at Lytham Partners: tanker tightness lifts outlook By Investing.com
Tsakos Energy Navigation (TEN) reported strong earnings and cash flow, benefiting from a tight tanker market and robust demand, with second-quarter earnings surging 557%. The company emphasized its strategic position with 80% of its fleet under long-term contracts and a modern, diversified fleet, expecting favorable conditions to persist for several years despite potential moderation in current peak spot rates. TEN also highlighted its growing shuttle tanker business in deep-water regions, which is contributing significantly to profitability.
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Tsakos Energy Navigation (TEN) reported strong earnings and cash flow, benefiting from a tight tanker market and robust demand, with second-quarter earnings surging 557%. The company emphasized its strategic position with 80% of its fleet under long-term contracts and a modern, diversified fleet, expecting favorable conditions to persist for several years despite potential moderation in current peak spot rates. TEN also highlighted its growing shuttle tanker business in deep-water regions, which is contributing significantly to profitability.
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Published Sep 29, 2026, 18:52 ET · on this site +2h 15m