{
  "id": 7394783,
  "title": "Tsakos Energy Navigation (TEN) Just Posted Its Best Half Ever",
  "url": "https://urgent.news/2026/09/13/tsakos-energy-navigation-ten-just-posted-its-best-half-ever",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-13T11:44:11.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/energy/articles/tsakos-energy-navigation-ten-just-114411263.html"
  },
  "original_language": "en",
  "account": "Tsakos Energy Navigation (TEN) reported its strongest half-year results in recent memory, with net income soaring to $228 million, more than tripling from the previous year's $76 million. Diluted earnings per share (EPS) jumped to $7.12 from $1.70, a remarkable 421% increase. The company's fleet is benefiting from a combination of long-term contracts, rising rates, and a successful newbuilding program. The average time charter equivalent rate increased by 41% to $43,503 per day, while profit-sharing contracts on nine large vessels generated $71 million, up from $10 million a year ago. Despite six vessels being out of service for maintenance, the fleet maintained 96.5% utilization. The company's newbuild program, contracted for about $3.1 billion, is now valued at roughly 30% above its initial cost, and CEO Nikolas Tsakos estimates that the value of the VLCCs in that order book has nearly doubled since the contracts were placed. With $466 million in cash and forward committed earnings of $3.5 billion, management has room to increase its dividend, which already stood at $1.60 per share. However, the company faces challenges, including increased fuel prices, rising operating costs, and geopolitical risks in the Strait of Hormuz. Despite these challenges, TEN's forward P/E ratio of 9.45 suggests that the market has not fully recognized the potential for sustained earnings growth.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}