tiprankstipranks
Tsakos Energy Navigation Sees Mixed Q2 Results
Company Announcements

Tsakos Energy Navigation Sees Mixed Q2 Results

Tsakos Energy Navigation (TEN) has released an update.

Don't Miss our Black Friday Offers:

Tsakos Energy Navigation Limited reported a 3.3% decrease in voyage revenue for Q2 2024 compared to the same period in 2023, attributed to softer tanker market rates despite high oil demand due to geopolitical tensions. The company’s fleet utilization dipped slightly from 94.2% to 92.4%, with a notable revenue increase from time charter-fixed rate contracts due to acquisitions and EU emissions allowances. Half-year figures showed a 13.9% revenue decline and a lower fleet utilization rate, impacted by vessel dry-dockings and repositionings.

For further insights into TEN stock, check out TipRanks’ Stock Analysis page.

Related Articles
TheFlyTEN, Ltd. reports Q3 EPS 67c vs. 83c last year
TheFlyTEN, Ltd. price target lowered to $24 from $27 at Jefferies
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App