ATHENS, Greece, June 4, 2010 (GLOBE NEWSWIRE) -- Tsakos Energy Navigation Ltd. ("TEN") (NYSE:TNP) announced today that the Company conducted its Annual General Meeting (AGM), with 89.4% of its common shares represented in person or by proxy. All of the resolutions proposed were approved by at least 99.4% of the votes cast at the meeting. In particular:
-
Mr. D. John Stavropoulos, and Mr. Peter C. Nicholson were re-elected as independent board members.
- Ernst & Young were re-appointed as auditors for the financial year ending December 31, 2010.
ABOUT TSAKOS ENERGY NAVIGATION
TEN's pro forma fleet consists of 48 vessels of 5.2 million dwt. TEN's operational fleet consists of 45 vessels all of double-hull design. TEN's remaining newbuilding program includes one DNA-aframax crude carrier of 105,000 dwt and two suezmaxes of 158,000 dwt each.
TEN's current newbuilding program:
| Aframax | DWT | Hull Type / Design | Delivery |
| 1. Uraga Princess | 105,000 | DNA - DH | July 2nd 2010 |
| 2. S2034 | 158,000 | DH | Q2 2011 |
| 3. S2035 | 158,000 | DH | Q3 2011 |
| Total: | 421,000 |
DH: Double Hull
DNA: Design New Aframax
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.