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Tsakos Energy Navigation (TEN) To Host Fourth Quarter And Year End 2002 Conference Call
On Friday, February 28, 2003 at 8:30 A.M. Eastern Time, TEN will host a conference call to review fourth quarter and year end results as well as management's outlook for the business. The call, which will be hosted by TEN's senior management team, may contain information beyond what is included in the earnings press release.
To participate in the call from United States and Canada, please dial (800) 946-0706 approximately five minutes prior to the start time. To participate in the call outside the United States, please dial (719) 457-2638 five minutes prior to the start time. The Conference ID is 414587. Two hours after the completion of the conference call, a digital recording of the call will be available for seven days, and can be accessed by dialing (888) 203-1112 inside the United States and Canada and (719) 457-0820 outside the United States and entering the Conference ID 414587.
The call, which will be simultaneously broadcast live over the Internet, can be accessed at http://www.firstcallevents.com/service/ajwz375759583gf12.html approximately ten minutes before the start of the call.
Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast.
The online archive of the broadcast will be available within one hour of the live call.
ABOUT TSAKOS ENERGY NAVIGATION
TEN currently operates a fleet of 24 tankers (including one chartered-in aframax and one chartered-in product carrier) comprising 2,400,400 DWT with an average age of 6.2 years, which TEN believes is much younger than the world's tanker tonnage, which has an average age of 12.4 years. Additionally, with the above announcement TEN is scheduled to take delivery of five new buildings.With these five newbuildings (one aframax, three panamaxes and one handymax) the average pro-forma age of the fleet will be 6.8 years in June 2004. The resulting fleet of 28 vessels (including one chartered-in aframax) with 2718,000 DWT will include 17 newbuildings (1997-2004) with 2,018,000 DWT.
In addition, since October 2002 TEN has entered into a strategic joint venture with Lauritzen Kosan A/S of Denmark, initially jointly owning four modern LPG carriers. Consistent with the Company's strategy, to offer its customers a young and growing fleet, TEN will seek additional attractive opportunities to contract for new vessels and to dispose of older vessels.