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Tsakos Energy Navigation Ltd T.TNP


Primary Symbol: TNP Alternate Symbol(s):  TNP.PR.E

Tsakos Energy Navigation Ltd is a seaborne transportation service provider for crude oil and petroleum products. The company's carriers cater to national and international independent oil companies and refiners. It generates revenue through charter contracts with its clients, which include time, bareboat and voyage charters, contracts of affreightment, and pool arrangements.


NYSE:TNP - Post by User

Comment by combengon May 17, 2018 6:44pm
142 Views
Post# 28049384

RE:RE:RE:I don't understand why Management is in such a hurry to sell

RE:RE:RE:I don't understand why Management is in such a hurry to sellTo me it looks pretty obvious why... MM said if bids are lackluster he will take it private. That is my base case scenario, that MM steals it at a few bucks. In my opinion, the best outcome for shareholders would be to watch VLE drill 3 holes to prove up the Thrace BCGA and then sell the company or the Thrace asset to fund Bulgaria and return cash to shareholders. Best case for MM is that he can snag this for a fraction of NAV, and then drill baby drill. I've seen this same story before multiple times. 
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