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Tsakos Energy Navigation Ltd T.TNP


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

Tsakos Energy Navigation Ltd is a Greece-based provider of international seaborne crude oil and petroleum product transportation services. The Company operates through the maritime transportation of liquid energy-related products segment. The Company's fleet consists of 70 vessels, constituting a mix of crude tankers, product tankers, and liquefied natural gas (LNG) carriers, totaling more than 7 million dwt. It includes VLCC, Aframax, Panamax, handysize, handymax tankers, LNG carrier, and DP2 shuttle tankers, which allows the Company to serve its customers' international petroleum product and crude oil transportation needs.


NYSE:TEN - Post by User

Comment by combengon May 17, 2018 6:44pm
148 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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