Tsakos Energy Navigation Announces the Delivery and Immediate Charter of the 1A Ice-Class Suezmax Tanker Arctic

Tsakos Energy Navigation Announces the Delivery and Immediate Charter of the 1A Ice-Class Suezmax Tanker Arctic

First of Eleven Vessels to Be Delivered to TEN in 2007

ATHENS, Greece, Jan. 11 /PRNewswire-FirstCall/ -- Tsakos Energy Navigation Ltd. ("TEN") (NYSE:TNP) today announced the delivery of the 1A ice-class 162,400 dwt Suezmax tanker Arctic from South Korea's Hyundai Heavy Industries. The introduction of the Arctic raises the company's Suezmaxes to nine of which five are of ice-class design. With the Arctic, the fleet's total ice-class capacity in the water now stands at 18 vessels. Upon delivery, the Arctic will enter a forty-day repositioning charter with a major end-user at an attractive rate.

"The beginning of the year finds us in the pleasant position to take delivery of another state-of-the-art vessel, the first of eleven we expect this year," stated Mr. Nikolas P. Tsakos, Chief Executive Officer of TEN. "The commencement of this latest round of deliveries will not only grow our fleet in absolute numbers and deadweight tons, but will further augment the fleet's versatility and reach, aspects we are confident will make our vessels even more attractive to major charterers worldwide," Mr. Tsakos concluded.

ABOUT TSAKOS ENERGY NAVIGATION

TEN's proforma fleet consists of 51 vessels of 5.4 million dwt. Today, TEN operates a fleet of 37 vessels. Additionally, its newbuilding program has 14 vessels including six Aframax crude carriers, one Suezmax, two Panamax tankers, four Handysize product carriers, and one LNG representing 1.2 million dwt.

The strategy of a balanced diverse fleet is reflected in 26 crude transporters ranging from VLCCs to Aframaxes and 24 product carriers ranging from Handysize to Aframaxes; complemented by one LNG.

FORWARD-LOOKING STATEMENTS

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

CONTACTS:
George V. Saroglou, COO
Tsakos Energy Navigation Ltd.
Tel: 30 210 94 07 710-3
ten@tenn.gr

Thomas J. Rozycki, Jr., Investor Relations
Cubitt Jacobs & Prosek Communications
212-279-3115 x208
tom@cjpcom.comhttp://www.tenn.gr/

Source: Tsakos Energy Navigation Ltd.

CONTACT: George V. Saroglou, COO of Tsakos Energy Navigation Ltd.,
+30-210-94-07-710-3, ten@tenn.gr, or Thomas J. Rozycki, Jr., Investor
Relations for Cubitt Jacobs & Prosek Communications, +1-212-279-3115 x208,
tom@cjpcom.com

Web site: http://www.tenn.gr/

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