Tsakos Energy Navigation Limited 6-K 8 Oct 24 2024 Q2 Current report (foreign) Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-31236
Entity Registrant Name	TSAKOS ENERGY NAVIGATION LIMITED
Entity Central Index Key	0001166663

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 377,270	$ 372,032
Restricted cash	4,651	4,662
Margin deposits	4,270	4,270
Time deposits and Treasury bills (Note 1)	94,505	0
Trade accounts receivable, net	34,059	46,698
Capitalized voyage expenses	912	1,448
Due from related companies (Note 2)	$ 4,807	$ 5,287
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Advances and other	$ 23,857	$ 26,275
Vessels held for sale	0	20,985
Inventories	20,635	22,513
Prepaid insurance and other	10,230	3,913
Current portion of financial instruments - Fair value (Notes 8, 13)	2,040	1,253
Total current assets	577,236	509,336
Derivative Instruments and Hedges, Noncurrent	38	0
Operating Lease, Right-of-Use Asset	21,878	36,969
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	54,409	0
Long-Term Investments and Receivables, Net	12,442	23,812
INVESTMENTS IN DEBT SECURITIES	10,086	5,064
FIXED ASSETS (Note 5)
Advances for vessels under construction	124,686	150,575
Vessels	3,969,194	3,616,223
Accumulated depreciation	(1,039,034)	(1,016,202)
Vessels' Net Book Value	2,930,160	2,600,021
Total fixed assets	3,054,846	2,750,596
Deferred Costs, Noncurrent	38,116	38,313
Total assets	3,769,051	3,364,090
CURRENT LIABILITIES:
Current portion of long - term debt and other financial liabilities (Note 7)	249,468	191,974
Payables	51,353	40,207
Due to related companies (Note 2)	$ 6,252	$ 3,558
Accounts Payable, Current, Related Party [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Dividends payable	$ 17,705	$ 0
Accrued liabilities	38,181	33,391
Unearned revenue	17,648	31,902
Current portion of obligations under operating leases (Note 4)	11,790	21,031
Current portion of financial liability under operating leases (Note 4)	1,080	1,067
Current portion of financial liability under finance leases (Note 4)	42,659	0
Current portion of financial instruments - Fair value (Notes 8, 13)	214	72
Total current liabilities	436,350	323,202
Long-Term Debt and Lease Obligation	1,531,911	1,370,683
Operating Lease, Liability, Noncurrent	10,088	15,937
FINANCIAL LIABILITY UNDER OPERATING LEASES, net of current portion (Note 4)	557	1,097
FAIR VALUE OF TIME CHARTER ATTACHED	33,567	0
EU ETS ACCURED LIABILITY	5,118	0
FINANCIAL INSTRUMENTS-FAIR VALUE, net of current portion (Note 14)	0	524
Preferred shares, $ 1.00 par value; 25,000,000 shares authorized, 4,745,947 Series E Preferred Shares and 6,747,147 Series F Preferred Shares issued and outstanding at June 30, 2024 and December 31, 2023	11,493	11,493
Common shares, $ 5.00 par value; 60,000,000 shares authorized at June 30, 2024 and December 31, 2023; 30,183,776 shares issued and 29,505,603 shares outstanding at June 30, 2024 and December 31, 2023	150,919	150,919
Additional paid-in capital	912,214	912,214
Cost of treasury stock	(6,791)	(6,791)
Accumulated other comprehensive income	494	2,485
Retained earnings	647,454	548,237
Total Tsakos Energy Navigation Limited stockholders' equity	1,715,783	1,618,557
Non-controlling Interest	35,677	34,090
Total stockholders' equity	1,751,460	1,652,647
Total liabilities and stockholders' equity	$ 3,769,051	$ 3,364,090

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Shares Authorized	25,000,000	25,000,000
Common Stock, Par or Stated Value Per Share	$ 5	$ 5
Common Stock, Shares Authorized	60,000,000	60,000,000
Common Stock, Shares, Issued	30,183,776	30,183,776
Common Stock, Shares, Outstanding	29,505,603	29,505,603
Series E Preferred Stock [Member]
Preferred Stock, Shares Outstanding	4,745,947	4,745,947
Series F Preferred Stock [Member]
Preferred Stock, Shares Outstanding	6,747,147	6,747,147

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 214,055	$ 221,454	$ 415,644	$ 482,667
Voyage expenses	41,403	38,892	83,423	84,789
Charter hire expense	5,095	5,731	11,108	12,522
Vessel operating expenses	49,704	46,669	98,328	94,943
Depreciation and amortization	39,494	35,264	77,020	70,403
General and administrative expenses	7,904	12,336	15,230	19,493
Gain on sale of vessels (Note 5)	(32,495)	0	(48,662)	(81,198)
Total expenses	111,105	138,892	236,447	200,952
Operating income	102,950	82,562	179,197	281,715
OTHER INCOME (EXPENSES):
Interest and finance costs, net (Note 8)	(30,053)	(24,334)	(55,198)	(48,848)
Interest income	4,687	4,125	7,935	6,888
Other, net	4	(241)	75	(180)
Total other expenses, net	(25,362)	(20,450)	(47,188)	(42,140)
Net income	77,588	62,112	132,009	239,575
Less: Net income attributable to the non-controlling interest	(1,202)	(1,471)	(1,587)	(2,379)
Net income attributable to Tsakos Energy Navigation Limited	76,386	60,641	130,422	237,196
Effect of preferred dividends	(6,750)	(8,673)	(13,500)	(17,346)
Deemed dividend on Series D Preferred Shares	0	(3,256)	0	(3,256)
Net income attributable to common stockholders of Tsakos Energy Navigation Limited	$ 69,636	$ 48,712	$ 116,922	$ 216,594
Earnings per share, diluted attributable to Tsakos Energy Navigation Limited common Stockholders	$ 2.36	$ 1.65	$ 3.96	$ 7.34
Earnings per share, basic attributable to Tsakos Energy Navigation Limited common Stockholders	$ 2.36	$ 1.65	$ 3.96	$ 7.34
Weighted average number of shares, basic	29,505,603	29,505,603	29,505,603	29,505,603
Weighted average number of shares, diluted	29,505,603	29,505,603	29,505,603	29,505,603

Consolidated Statements of Othe

Consolidated Statements of Other Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net income	$ 77,588	$ 62,112	$ 132,009	$ 239,575
Unrealized loss from hedging financial instruments
Unrealized loss on interest rate swaps, net	(831)	(1,190)	(1,991)	(2,628)
Comprehensive income	76,757	60,922	130,018	236,947
Less: comprehensive income attributable to the non-controlling interest	(1,202)	(1,471)	(1,587)	(2,379)
Comprehensive income attributable to Tsakos Energy Navigation Limited	$ 75,555	$ 59,451	$ 128,431	$ 234,568

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	Retained Earnings [Member] Series D Preferred Stock [Member]	Retained Earnings [Member] Series E Preferred Stock [Member]	Retained Earnings [Member] Series F Preferred Stock [Member]	Tsakos Energy Navigation Limited [Member]	Tsakos Energy Navigation Limited [Member] Series D Preferred Stock [Member]	Tsakos Energy Navigation Limited [Member] Series E Preferred Stock [Member]	Tsakos Energy Navigation Limited [Member] Series F Preferred Stock [Member]	Noncontrolling Interest [Member]	Noncontrolling Interest [Member] Series B Preferred Stock [Member]	Total	Series D Preferred Stock [Member]	Series B Preferred Stock [Member]	Series E Preferred Stock [Member]	Series F Preferred Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Series D Preferred Stock [Member]	AOCI Attributable to Parent [Member]
Beginning balance, value at Dec. 31, 2022	$ 15,010	$ 150,919	$ (6,791)	$ 311,726				$ 1,471,897				$ 51,022		$ 1,522,919					$ 993,368		$ 7,665
Beginning balance, Shares at Dec. 31, 2022			678,173
Net income				237,196				237,196				2,379		239,575
Partial redemption of Class B preferred shares of subsidiary												(1,000)		(1,000)
Redemption of Series D Preferred Shares	(3,517)			(3,256)				(87,927)						(87,927)						$ (81,154)
Cash dividends paid ($0.30 per common share)				(8,856)				(8,856)						(8,856)
Cash dividends declared ($0.30 and $0.60 for 2023 and 2024 per common share, respectively)				(8,850)				(8,850)						(8,850)
Dividends paid on preferred shares					$ (3,848)	$ (5,486)	$ (8,012)		$ (3,848)	$ (5,486)	$ (8,012)		$ (756)		$ (3,848)	$ (756)	$ (5,486)	$ (8,012)
Other comprehensive loss								(2,628)						(2,628)							(2,628)
Ending balance, value at Jun. 30, 2023	11,493	150,919	$ (6,791)	510,614				1,583,486				51,645		1,635,131					912,214		5,037
Ending balance, shares at Jun. 30, 2023			678,173
Beginning balance, value at Dec. 31, 2023	11,493	150,919	$ (6,791)	548,237				1,618,557				34,090		1,652,647					912,214		2,485
Beginning balance, Shares at Dec. 31, 2023			678,173
Net income	0	0	$ 0	130,422				130,422				1,587		132,009
Cash dividends declared ($0.30 and $0.60 for 2023 and 2024 per common share, respectively)				(17,705)				(17,705)						(17,705)
Dividends paid on preferred shares						$ (5,488)	$ (8,012)			$ (5,488)	$ (8,012)						$ (5,488)	$ (8,012)
Other comprehensive loss								(1,991)						(1,991)							(1,991)
Ending balance, value at Jun. 30, 2024	$ 11,493	$ 150,919	$ (6,791)	$ 647,454				$ 1,715,783				$ 35,677		$ 1,751,460					$ 912,214		$ 494
Ending balance, shares at Jun. 30, 2024			678,173

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Cash Paid		$ 0.30
Common Stock, Dividends, Per Share, Declared	$ 0.60

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash Flows from Operating Activities:
Net income	$ 77,588	$ 62,112	$ 132,009	$ 239,575
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation			66,235	59,995
Amortization of deferred dry-docking costs and leasehold improvements			10,078	10,102
Amortization of deferred finance costs	1,055	874	1,872	2,083
Amortization of right of use assets for finance lease			707	306
Amortization of assumed liabilities from time charters attached			(6,276)	0
Amortization of revenue escalation			984	(5,527)
Interest expense on long - term receivable			(431)	(251)
Interest income from debt securities, accrued			(22)	0
Change in fair value of derivative instruments			(3,335)	(3,510)
Gain on sale of vessels	(32,495)	0	(48,662)	(81,198)
Payments for dry-docking			(13,731)	(12,253)
(Increase) Decrease in:
Receivables and other, net			14,553	29,508
Margin deposits			0	0
Inventories			1,878	5,231
Prepaid insurance and other			(5,667)	2,580
Capitalized voyage expenses			536	1,016
Increase (Decrease) in:
Payables and other			13,840	(4,532)
Accrued liabilities			9,908	8,060
Unearned revenue			(14,254)	7,317
Net Cash provided by Operating Activities			160,222	258,502
Cash Flows from Investing Activities:
Advances for vessels under construction			(38,707)	(97,347)
Vessel acquisitions and/or improvements			(446,716)	(31,572)
Investments in debt securities			(5,000)	0
Time deposits and treasury bills			(94,505)	0
Proceeds from sale of vessels			228,416	165,944
Net Cash (used in) provided by Investing Activities			(356,512)	37,025
Cash Flows from Financing Activities:
Proceeds from long-term debt and other financial liabilities			331,931	304,124
Financing costs			(3,788)	(2,488)
Payments of long-term debt and other financial liabilities			(111,943)	(343,510)
Payments of operating and finance leases			(1,183)	(1,040)
Partial redemption of Class B preferred shares of subsidiary			0	(1,000)
Cash dividends			(13,500)	(26,958)
Net Cash provided by (used in) Financing Activities			201,517	(70,872)
Net increase in cash and cash equivalents and restricted cash			5,227	224,655
Cash and cash equivalents and restricted cash at beginning of period			376,694	309,439	$ 309,439
Cash and cash equivalents and restricted cash at end of period	381,921	534,094	381,921	534,094	376,694
Current Assets:
Cash and Cash Equivalents, at Carrying Value	377,270	529,217	377,270	529,217	372,032
Restricted Cash and Cash Equivalents, Current	4,651	4,877	4,651	4,877	4,662
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Total	$ 381,921	$ 534,094	$ 381,921	$ 534,094	$ 376,694

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements of T y y The consolidated balance sheet as of December 31, 2023, has been derived from the audited consolidated financial statements included in the Company ' Significant Accounting Policies A discussion of the Company ' ' Time deposits and treasury bills: 40,000 and treasury bills of $ 54,505 . Their carrying values are considered to approximate their fair values (Note 13). Liabilities assumed from time charters attached:

Transactions with Related Parti

Transactions with Related Parties	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Transactions with Related Parties	2. Transactions with Related Parties (a) T Neo Ene r Maria Ene r Ulysses He r Dias I Eu r , Decathlon Poppy S Maria Princess, Ise Princess Sappo r DF Montmartre, DF Mystras Alpes Aspen. Vessel monthly fees for operating conventional vessels we 30 .0, for chartered in vessels or chartered out on a bare-boat basis and for vessels under construction monthly fees were $ 21 .0, and $ 36 .0 fo r the DP2 suezmax shuttle tankers. 28.8 from $ 28.4 for the suezmax tanker Decathlon Ulysses Hercules I 29.7 to $ 30.1 for LNG carriers Maria Energy Neo Energy 45.9 from $ 45.1 and Tenergy 37.5 from $ 36.7 , for the aframax tankers Sapporo Princess Maria Princess 29.7 to $ 30.1 , and from $ 28.9 to $ 29.3 for the aframax tanker Ise Princess Dias I Eurochampion 2004 28.7 and $ 29.7 , respectively. For the newly acquired vessels, aframax tankers Alpes, Aspen Poppy S 29.3 and $ 28.7 for the dual fuel LNG aframax tankers DF Montmartre DF Mystras, The Management Company, for services rendered, charged $ 5,086 4,809 10,061 10,030 In addition to the management fee, the Management Agreement provides for an incentive award to the Management Company, which is at the absolute discretion of the Holding Company's Board of Directors. No incentive award was granted in the first six months of 2024. For the first half of 2023, an award of $ 5,000 The Holding Company and the Management Company have certain officers and directors in common. The Chief Executive Officer and Director of the Holding Company, is also the sole stockholder of the Management Company and the son of the founder of Tsakos Shipping (as defined below). The Management Company may unilaterally terminate its Management Agreement with the Holding Company at any time upon one yea r ' y ' Estimated future management fees payable over the next ten years under the Management Agreement, exclusive of any incentive awards and based on existing vessels and known vessels scheduled for future deliver y 11,073 22,308 22,209 22,074 22,278 94,221 Management fees for vessels are included in general and administrative expenses in the accompanying consolidated statements of comprehensive income. Also, under the terms of the Management Agreement, the Management Company provides supervisory services for the construction of new vessels. During the six months ended June 30, 2024, and June 30, 2023, $ 861 879 463 473 As of June 30, 2024, the amount due to the Management Company was $ 229 157 (b) Tsakos Shipmanagement S.A. (“TSM”): 0 171 0 374 As of June 30, 2024, the amount due from TSM was $ 4,807 5,287 (c) T T T T 409 256 r 1,013 327 1,429 1,098 Tsakos Shipping provides chartering services for the Company ' T 1.25 % on all freights, hires and demurrages. Such commissions are included in v T T T 1,168 for the sale of the two suezmax tankers, Eurochampion 2004 Euronike Izumo Princess Nippon Princess Neo Energy, 848 for the sale of the six handymax tankers, Artemis, Afrodite, Ariadne, Aris, Apollon, Ajax Arion Amphitrite y 250 (or such other sum as may be agreed) on delivery of each new-building vessel in payment for the cost of design and supervision of the new-building by T 1,000 in aggregate was charged for supervision fees of the aframax tankers Njord DF Ran DF Chios DF Ithaki DF 500 in aggregate was charged for supervision fees of the LNG carrier, Tenergy Porto T sakos Shipping for chartering services rendered charged $ 2,564 2,687 r 5,102 5,924 The amount due to T 3,348 1,501 423 667 T (d) Argosy Insurance Company Limited (“Argosy”) y T 1,229 3,593 6,820 3,216 y 3,796 3,351 r 7,058 6,642 The amount due to Argosy as at June 30, 2024, was $ 3,535 2,468 1,252 328 y (e) AirMania T y 1,610 1,661 r 3,533 3,223 The amount due to AirMania as of June 30, 2024, was $ 569 530

Revenue from contracts with cus

Revenue from contracts with customers	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from contracts with customers	3. Revenue from contracts with customers V oyage charters and contracts of affreightment: 67,525 84,234 y 135,285 209,184 Time, bareboat charters and pooling arrangements: 146,530 137,220 y 280,359 273,483 Unearned revenue: 10,605 17,391 7,043 14,511

Right-of-use assets and lease l

Right-of-use assets and lease liabilities	6 Months Ended
	Jun. 30, 2024
Right-of-use Assets And Lease Liabilities
Right-of-use assets and lease liabilities	4. Right-of-use assets and lease liabilities Operating leases On December 21, 2020, the Company commenced a five-year Sakura Princess. 24,527 r ' 4,425 4,345 r Sakura Princess 5,148 Sakura Princess 1,637 1,080 557 2,164 1,067 1,097 On June 21, 2021, the Company commenced a five-year sale and leaseback agreement for each of the two suezmax tankers, A r Anta r 52,304 . Under these leaseback agreements, there is a seller's credit of $ 8,415 on the sales price that becomes immediately payable to the Company by the owners at the end of the five-year charter or upon sale of the vessel during the charter period. As of June 30, 2024, the Company has classified the seller's credit, as long-term receivable amounting to $ 8,097 . In accordance with ASC 842, the Company accounts for the transaction as an operating lease. At June 30, 2024 and December 31, 2023, the Company assessed the recoverability of the seller's credits and there was no indication of impairment. As at June 30, 2024, the Company recognized on its consolidated balance sheets a right-of-use asset of $ 17,709 A r Anta r 4,169 Sakura Princess y The incremental borrowing rate used to determine the right-of-use asset and the obligations under operating leases was 2.54 Sakura Princess 2.98 A r Anta r 1.48 1.99 y 1.98 and 2.49 y As at June 30, 2024 and December 31, 2023, both the right-of use assets and the corresponding obligation under operating leases were $ 21,878 (current portion $ 11,790 and non-current portion $ 10,088 ) and $ 36,969 (current portion $ 21,031 and non-current portion $ 15,937 ), respectively. right-of-use assets and lease liabilities - Operating Leases (Table) Period/ Year Lease Commitment July 1 to December 31, 2024 $ 7,659 2025 15,332 2026 4,992 Minimum net lease payments $ 27,983 Less: present value discount (4,468) Total obligations under operating leases and financial liability (current and non-current portion) $ 23,515 The Company has subleased all three vessels ( Arctic, Antarctic, Sakura Princess 9,421 , for the second quarter of 2024, compared to five vessels ( Archangel, Alaska, Arctic, Antarctic, Sakura Princess 19,856 for the second quarter of 2023. The amount of $ 18,458 was recognized for the first half of 2024 for all three vessels, compared to $ 49,540 in the prior year first half for five vessels. Finance leases On January 9, 2020, the Company commenced a five-year A r Alaska 61,070 11,800 Archangel Alaska 43,316 11,800 918 261 42,659 55,116 707 54,409 7.1 Archangel Alaska 0.53 Alaska Archangel 21,000 5,900 The annual lease payments as at June 30, 2024 are as follows: right-of-use assets and lease liabilities - Finance Leases (Table) Period Lease Commitment July 1 to December 31, 2024 $ 42,918 Minimum net lease payments 42,918 Less: Discounting effect (259) Total Obligations under finance leases $ 42,659 The Company has subleased both vessels ( Archangel Alaska 7,089 1,399

Vessels

Vessels	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Vessels	5. Vessels Acquisitions On January 11 and 19, 2024 the Company took delivery of its newbuilding aframax tankers Chios DF ) and Ithaki DF ), respectively, for an aggregate cost of $ 156,649 . During the first half of 2024, the Company acquired four aframax tankers DF Montmartre, Alpes, DF Mystras, Aspen, Poppy S. 350,000 . In the first half of 2023, the Company acquired the two suezmax tankers, Eurochampion 2004 Euronike Sales During the second quarter of 2024, the Company sold its suezmax tanker Euronike Izumo Princess Nippon Princess Neo Energy, 32,495 . During the second quarter of 2023, there were no vessel sales. Eurochampion 2004 Euronike Izumo Princess Nippon Princess Neo Energy, 48,662 Afrodite, Artemis, Ariadne, Aris, Ajax Apollon Arion Amphitrite, 81,198 Impairment As of June 30, 2024, and December 31, 2023, the Company reviewed the carrying amount including any unamortized dry-docking costs in connection with the estimated recoverable amount and the probability of sale for each of its vessels, vessels under construction and right-of-use-assets. As of June 30, 2024, this review did not indicate an impairment charge. As of December 31, 2023, this review indicated an impairment charge of $ 26,367 Neo Energy

Deferred charges and leasehold

Deferred charges and leasehold improvements	6 Months Ended
	Jun. 30, 2024
Deferred Charges And Leasehold Improvements
Deferred charges and leasehold improvements	6. Deferred charges and leasehold improvements Deferred charges consisting of dry-docking and special survey costs, net of accumulated amortization, amounted to $ 32,337 and $ 33,682 , at June 30, 2024 and December 31, 2023, respectivel y 5,779 at June 30, 2024 for the suezmax tankers Archangel, Alaska, Arctic, Antarctic, Sakura Princess 4,631 , at December 31, 2023

Long-term debt and other financ

Long-term debt and other financial liabilities	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-term debt and other financial liabilities	7. Long-term debt and other financial liabilities Long-term debt Long-term Debt (Table) Facility June 30, 2024 December 31, 2023 Loans $ 1,636,430 $ 1,411,779 Less: Deferred finance costs, net (9,483) (8,046) Total long-term debt 1,626,947 1,403,733 Less: Current portion of debt (243,501) (185,516) Add: Deferred finance costs, current portion 3,036 2,532 Long-term debt, net of current portion and deferred finance costs $ 1,386,482 $ 1,220,749 Loan balances outstanding at June 30, 2024, amounted to $ 1,636,430 . These bank loans are payable in U.S. Dollars in semi-annual installments, with balloon payments due at maturity between December 2024 and December 2032. Interest rates on the outstanding loans as at June 30, 2024, are based on Secured Overnight Financing Rate (“SOFR”) plus a spread . On March 1, 2024, the Company signed a new five-year loan agreement amounting to $ 245,000 to finance the acquisition of the five vessels, Alpes Poppy S., Aspen DF Mystras DF Montmartre . The new loan is repayable in ten semi-annual installments of i) $ 2,012.5 , commencing six months after the delivery of the vessel, plus a balloon of $ 28,175 payable together with the last installment, for each of the vessels Alpes Poppy S. 1,615.5 , commencing six months after the delivery of the vessel, plus a balloon of $ 25,845 payable together with the last installment, for vessel Aspen 1,565 , commencing six months after the delivery of the vessel, plus a balloon of $ 37,550 payable together with the last installment, for each of the vessels DF Mystras DF Montmartre On March 13, 2024, the Company signed a new seven-year 103,456 relating to the pre- and post- delivery financing of the under construction DP2 suezmax shuttle tanker Athens 04 . The new loan is repayable in fourteen semi-annual installments of $ 2,873.77 , commencing six months after the delivery of the vessel, plus a balloon of $ 63,223.108 payable together with the last installment. The first drawdown of $ 12,932 the refinancing of the panamax tankers, Selini Salamina . Based on the addendum, the loan is repayable in two semi-annual installments of $ 2,308.8 , commencing six months after the date signed, plus a balloon of $ 2,308.8 . On May 31, 2024, the Company prepaid the amount of $ 28,147 Neo Energy. On August 30, 2024, the Company signed a seven-year 111,776 Anfield fourteen semi-annual 3,000 69,776 14,903 The weighted-average interest rates on the above executed loans for the applicable periods were: Long-term debt and other financial liabilities - Weighted-Average Interest Rates (Table) Three months ended June 30, 2024 7.09 Six months ended June 30, 2024 7.17 Three months ended June 30, 2023 6.65 Six months ended June 30, 2023 6.54 The bank loans are secured by first priority mortgages on all vessels, by assignments of earnings and insurances of the respectively mortgaged vessels, and by corporate guarantees of the relevant vessel-owning subsidiaries. The loan agreements include, among other covenants, covenants requiring the Company to obtain the lenders' prior consent in order to incur or issue any financial indebtedness, additional borrowings, pay dividends if an event of default has occurred, sell vessels and assets, and change the beneficial ownership or management of the vessels. Also, the covenants require the Company to maintain a minimum liquidit y 123,045 75,026 One loan agreement requires a monthly pro rata transfer to retention account of any principal due but unpaid. Two loan agreements require the Company to maintain throughout the security period, an aggregate balance in a deposit account of $ 3,050 As of June 30, 2024, the Company and its wholly and majority owned subsidiaries had thirty-two 1,636,430 The Company fulfilled its requirements in respect of the financial covenants of all of its loan agreements as at June 30, 2024 ' The annual principal payments, including balloon payments on loan maturity, required to be made after June 30, 2024, are as follows: Long-term debt and other financial liabilities- Principal Payments (Table) Period/ Year Amount July to December 2024 $ 109,478 2025 242,190 2026 246,744 2027 376,846 2028 229,148 2029 and thereafter 432,024 $ 1,636,430 Other financial liabilities, net The amounts in the accompanying consolidated balance sheets are analyzed as follows: Long-term debt and other financial liabilities - Other financial liabilities, net (Table) June 30, 2024 December 31, 2023 Other financial liabilities $ 156,249 $ 160,912 Less: Deferred finance costs, net (1,817) (1,988) Total other financial liabilities 154,432 158,924 Less: Current portion of other financial liabilities (9,328) (9,328) Add: Deferred finance costs, current portion 325 338 Other financial liabilities, net of current portion and deferred finance costs $ 145,429 $ 149,934 On December 21, 2021 , the Company entered into a new ten-year sale and leaseback agreement for its under-construction LNG carrier, Tenergy On January 12, 2022, the Company took delivery of the LNG carrier Tenergy , having a purchase obligation at the end of the tenth anniversary, as well as options to repurchase the vessel at any time following the fifth anniversary of the commencement date. In accordance with ASC 842-40, the Company did not derecognize the respective vessel from its balance sheets and accounted for the amounts received under the sale and leaseback agreement as other financial liabilities. The financing arrangement is repayable in forty quarterly installments of $ 2,332 , commencing three months after the drawdown date, plus a put option of $ 83,955 payable together with the last installment. The agreement has no covenants. The annual principal payments of other financial liabilities required to be made after June 30, 2024, are as follows: Long-term debt and other financial liabilities - Schedule of annual lease liability (Table) Period/ Year Amount July to December 2024 $ 4,665 2025 9,328 2026 9,328 2027 9,328 2028 9,328 2029 and thereafter 114,272 $ 156,249

Interest and Finance Costs, net

Interest and Finance Costs, net	6 Months Ended
	Jun. 30, 2024
Interest And Finance Costs Net
Interest and Finance Costs, net	8. Interest and Finance Costs, net Interest and Finance Costs, net (Table) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Interest expense 31,437 26,252 60,931 51,340 Less: Interest capitalized (1,802) (1,166) (3,245) (2,090) Interest expense, net 29,635 25,086 57,686 49,250 Bunkers and CO2 emissions swaps cash settlements (521) — (1,119) — Amortization of deferred finance costs 1,055 874 1,872 2,083 Bank charges 59 67 60 136 Amortization of deferred gain on termination of financial instruments (882) (1,313) (2,094) (2,611) Interest expense on redeemable preferred shares — 663 — 663 Change in fair value of non-hedging financial instruments 707 (1,043) (1,207) (673) Net total 30,053 24,334 55,198 48,848 Interest and finance costs were $ 31,437 26,252 60,931 51,340 Capitalized interest is based on expenditure incurred to date on vessels under construction. Capitalized interest amounted to $ 1,802 3,245 1,166 2,090 In 2022, the Company discontinued ten of its cash flow hedge interest rate swaps through early termination agreements. The Company considered the forecasted transactions as still probable for seven of those interest rate swaps 882 1,313 2,094 2,611 At June 30, 2024 and 2023, the Company held one 3.82 six-month SOFR 708 210 1,046 586 676 During the first half of 2024, the Company entered into eight bunker agreements and three CO2 emission agreements to hedge its exposure to bunker price fluctuations associated with the consumption of bunkers by its vessels and the EU Allowances exposure between July through December 2024 eleven bunker agreements and five CO2 emission agreements eight bunker agreements and two CO2 emission agreements 1,156 535 497 621 1,119 521 During the first half of 2023, the Company entered into two bunker agreements and two CO2 emission agreements, in order to hedge its exposure to bunker price fluctuations associated with the consumption of bunkers by its vessels and the EU Allowances exposure, respectively. The change in the fair values as of June 30, 2023, was $ 3 For the second quarter of 2024 and 2023, the Company has written-off unamortized deferred finance costs of $ 176 133 176 430 On May 30, 2023 , the Company announced the redemption of 3,517,061 Series D Cumulative Redeemable Perpetual Preferred Shares along with accrued dividends. Upon declaration, Series D Preferred Shares were re-classified from equity to current liabilities and any accrued dividends of the period, amounting to $ 663 , were recognized as interest expense.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	9. Stockholders' Equity During the first half of 2024 and 2023, the Company had no On January 30, 2024, and April 30, 2024, the Company paid dividends of $ 0.59375 8,012 On February 28, 2024, and May 28, 2024, the Company paid dividends of $ 0.57812 5,488 On March 27, 2024, the Company declared the first semi-annual dividend of $ 0.60 17,705 0.60 0.30 8,856 0.30 8,850 On May 30, 2023, the Company declared the redemption of all of its 3,517,061 25.00 0.243056 3,256

Accumulated other comprehensive

Accumulated other comprehensive income	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Accumulated other comprehensive income	10. Accumulated other comprehensive income In the first half of 2024, accumulated other comprehensive income decreased with unrealized loss of $ 1,991 2,628

Earnings per common share

Earnings per common share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings per common share	11. Earnings per common share The computation of basic and diluted earnings per share is based on the weighted average number of common shares outstanding during the period: Earnings (Loss) per Common Share (Table) Three months ended June 30 Six months ended June 30, 2024 2023 2024 2023 Numerator Net income attributable to Tsakos Energy Navigation Limited $ 76,386 $ 60,641 $ 130,422 $ 237,196 Preferred share dividends Series D — (1,924) — (3,848) Preferred share dividends Series E (2,744) (2,743) (5,488) (5,486) Preferred share dividends Series F (4,006) (4,006) (8,012) (8,012) Deemed dividend on redeemable Series D preferred shares — (3,256) — (3,256) Net income attributable to common stockholders of T 69,636 48,712 116,922 216,594 Denominator W eighted average number of shares basic and diluted 29,505,603 29,505,603 29,505,603 29,505,603 Earnings per share attributable to Tsakos Energy Navigation Limited, basic and diluted $ 2.36 $ 1.65 $ 3.96 $ 7.34

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	2. Commitments and Contingencies As of June 30, 2024, the Company had ten vessels under construction, three two two three The total contracted amount remaining to be paid for the ten vessels under construction plus the extra costs agreed as of June 30, 2024, was $ 722,105 113,477 320,344 175,914 112,370 In the ordinary course of the shipping business, various claims and losses may arise from disputes with charterers, agents and other suppliers relating to the operations of the Company ' ' Brazilian authorities have charged certain shipbrokers with various offenses in connection with charters entered into between a major state oil entity and various international shipowners. Starting in 2020, in parallel with U.S. Department of Justice and U.S. Securities and Exchange Commission (“SEC”) investigations regarding whether the circumstances surrounding these charters, including the actions taken by these shipbrokers, constituted non-compliance with provisions of the U.S. Foreign Corrupt Practices Act of 1977 (FC P y Charters-out The future minimum revenues of vessels in operation at June 30, 2024, before reduction for brokerage commissions and assuming no off-hire days, expected to be recognized on non-cancelable time charters are as follows: Commitments and Contingencies - Minimum Future Charter Revenue (Table) Period/ Year Amount July 1 to December 31, 2024 $ 266,724 2025 350,041 2026 229,276 2027 148,075 2028 100,231 2029 to 2039 263,883 Minimum charter revenues $ 1,358,230 These amounts do not assume any off-hire.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Financial Instruments	13. Financial Instruments (a) Interest rate risk: (b) Concentration of credit risk: The Company places its investments, consisting mostly of time deposits and treasury bills, primarily with high credit qualified financial institutions. The Company performs periodic evaluations of the relative credit standing of those financial institutions that are considered in the Company's investment strategy. The Company limits its credit risk with receivable by performing ongoing credit evaluations of its customers' financial condition and generally does not require collateral for its receivable and does not have any agreements to mitigate credit risk. The Company limits the exposure of non-performance by counterparties to derivative instruments by diversifying among counterparties with high credit ratings and performing periodic evaluations of the relative credit standing of the counterparties. The Company performs relevant enquiries on a periodic basis to assess the recoverability of the long-term receivables related to seller's credits under sale and leaseback transactions and estimates that the amount presented on the accompanying balance sheets approximates the amount that is expected to be received by the Company at the end of the non-cancellable lease periods. (c) Fair value: The fair values of the interest rate swap agreements, bunker and CO2 swap agreements and liabilities assumed from time charters attached discussed in Note 8 and Note 14, respectively, are determined through Level 2 of the fair value hierarchy as defined in F V The fair value of the impaired LNG carrier Neo Energy The estimated fair values of the Company ' Financial Instruments - Schedule of Carrying Values and Estimated Fair Values of Financial Instruments (Table) Carrying June 30, 2024 Fair Value June 30, 2024 Carrying December 31, 2023 Fair Value December 31, 2023 Financial assets (liabilities) Cash and cash equivalents 377,270 377,270 372,032 372,032 Restricted cash 4,651 4,651 4,662 4,662 Margin deposits 4,270 4,270 4,270 4,270 Time deposits and treasury bills 94,505 94,505 — — Long-term receivable 12,442 12,442 23,812 23,812 Investments in debt securities 10,086 10,086 5,064 5,064 Debt and other financial liabilities (1,792,679) (1,792,679) (1,572,692) (1,572,692) The Company does not offset fair value amounts recognized for derivatives by the right to reclaim cash collateral or the obligation to return cash collateral. The amount of collateral to be posted is defined in the terms of respective master agreement executed with counterparties or exchanges and is required when agreed upon threshold limits are exceeded. As of June 30, 2024, the Company deposited cash collateral related to its derivative instruments under its collateral security arrangements of $ 4,270 4,270 T abular Disclosu r Derivatives are recorded in the consolidated balance sheets on a net basis by counterparty when a legal right of set-off exists. The following tables present information with respect to the fair values of derivatives reflected in the consolidated balance sheets on a gross basis by transaction. The tables also present information with respect to gains and losses on derivative positions reflected in the consolidated statements of comprehensive income or in the consolidated balance sheets, as a component of accumulated other comprehensive income. Financial Instruments - Schedule of Derivative Instruments - Statements of Financial Position Location (Table) Asset Derivatives Liability Derivatives June 30, 2024 December 31,2023 June 30, 2024 December 31, 2023 Balance Sheet Location Fair Value Fair Value Fair Value Fair Value Derivatives not designated as hedging instruments Interest rate swaps Current portion of financial instruments - Fair value 670 646 — — Financial instruments - Fair value, net of current portion 38 — — 524 Bunker and CO2 swaps Current portion of financial instruments - Fair value 1,370 607 214 72 Subtotal 2,078 1,253 214 596 Total derivatives 2,078 1,253 214 596 Financial Instruments - Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative (Effective Portion) (Table) Gain (Loss) Recognized in Accumulated Derivative Amount Amount 2024 2023 2024 2023 Interest rate swaps 22 — 45 (132) Reclassification to Interest and finance costs, net due to de-designations (882) (1,313) (2,094) (2,611) Reclassification to depreciation expense 29 123 58 115 Total (831) (1,190) (1,991) (2,628) Derivatives – Net effect on the consolidated statement of comprehensive income Financial Instruments - Schedule of Derivatives Not Designated as Hedging Instruments - Net Effect on the Statement Of Comprehensive Income (Table) Net Realized and Unrealized Gain (Loss) recognized on Derivative Location Amount Amount 2024 2023 2024 2023 Interest rate swaps Interest and finance costs, net (210) 1,046 587 676 Bunker and CO2 swaps Interest and finance costs, net (497) (3) 620 (3) Total (707) 1,043 1,207 673 The following tables summarize the fair values for assets and liabilities measured on a recurring basis as of June 30, 2024, and December 31, 2023, using Level 2 inputs (significant other observable inputs): Financial Instruments - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Table) Recurring measurements: June 30, December 31, Interest rate swaps 587 122 Bunker and CO2 swaps 620 535 Total 1,207 657

Liabilities assumed from time c

Liabilities assumed from time charters attached	6 Months Ended
	Jun. 30, 2024
Liabilities Assumed From Time Charters Attached
Liabilities assumed from time charters attached	14. Liabilities assumed from time charters attached Upon acquisition of the four aframax tankers, DF Montmartre Alpes DF Mystras, Aspen Poppy S., 39,843 6,276 0 The unamortized balance of the liability as of June 30, 2024 is expected to be amortized over the weighted average period of 1.6 years as follows: Liabilities assumed from time charters attached - Unamortized balance expected to be amortized (table) Period/ Year Amount July 1 to December 31, 2024 $ 10,928 2025 15,153 2026 4,906 2027 2,580 Liabilities assumed from time charters attached $ 33,567

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events The Company evaluated subsequent events (other than those disclosed above), until the date these interim condensed consolidated financial statements were available to be issued. (a) On July 24, 2024, 625,000 25 25 25 25 (b) On July 30, 2024, the Company paid dividends of $ 0.59375 9.50 (c) On August 27, 2024, the Company signed two shipbuilding contracts for the construction of two LR1 tankers ( Hull 0307385 Hull 0307386 (d) On August 28, 2024, the Company paid dividends of $ 0.57812 9.25 (e) On September 11, 2024, the Company declared its second semi-annual dividend of $ 0.90

Right-of-use assets and lease_2

Right-of-use assets and lease liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Right-of-use Assets And Lease Liabilities
Right-of-use assets and lease liabilities - Operating Leases (Table)	right-of-use assets and lease liabilities - Operating Leases (Table) Period/ Year Lease Commitment July 1 to December 31, 2024 $ 7,659 2025 15,332 2026 4,992 Minimum net lease payments $ 27,983 Less: present value discount (4,468) Total obligations under operating leases and financial liability (current and non-current portion) $ 23,515
Right-of-use assets and lease liabilities - Finance Leases (Table)	right-of-use assets and lease liabilities - Finance Leases (Table) Period Lease Commitment July 1 to December 31, 2024 $ 42,918 Minimum net lease payments 42,918 Less: Discounting effect (259) Total Obligations under finance leases $ 42,659

Long-term debt and other fina_2

Long-term debt and other financial liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt (Table)	Long-term Debt (Table) Facility June 30, 2024 December 31, 2023 Loans $ 1,636,430 $ 1,411,779 Less: Deferred finance costs, net (9,483) (8,046) Total long-term debt 1,626,947 1,403,733 Less: Current portion of debt (243,501) (185,516) Add: Deferred finance costs, current portion 3,036 2,532 Long-term debt, net of current portion and deferred finance costs $ 1,386,482 $ 1,220,749
Long-term debt and other financial liabilities - Weighted-Average Interest Rates (Table)	Long-term debt and other financial liabilities - Weighted-Average Interest Rates (Table) Three months ended June 30, 2024 7.09 Six months ended June 30, 2024 7.17 Three months ended June 30, 2023 6.65 Six months ended June 30, 2023 6.54
Long-term debt and other financial liabilities- Principal Payments (Table)	Long-term debt and other financial liabilities- Principal Payments (Table) Period/ Year Amount July to December 2024 $ 109,478 2025 242,190 2026 246,744 2027 376,846 2028 229,148 2029 and thereafter 432,024 $ 1,636,430
Long-term debt and other financial liabilities - Other financial liabilities, net (Table)	Long-term debt and other financial liabilities - Other financial liabilities, net (Table) June 30, 2024 December 31, 2023 Other financial liabilities $ 156,249 $ 160,912 Less: Deferred finance costs, net (1,817) (1,988) Total other financial liabilities 154,432 158,924 Less: Current portion of other financial liabilities (9,328) (9,328) Add: Deferred finance costs, current portion 325 338 Other financial liabilities, net of current portion and deferred finance costs $ 145,429 $ 149,934
Long-term debt and other financial liabilities - Schedule of annual lease liability (Table)	Long-term debt and other financial liabilities - Schedule of annual lease liability (Table) Period/ Year Amount July to December 2024 $ 4,665 2025 9,328 2026 9,328 2027 9,328 2028 9,328 2029 and thereafter 114,272 $ 156,249

Interest and Finance Costs, n_2

Interest and Finance Costs, net (Tables)	6 Months Ended
	Jun. 30, 2024
Interest And Finance Costs Net
Interest and Finance Costs, net (Table)	Interest and Finance Costs, net (Table) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Interest expense 31,437 26,252 60,931 51,340 Less: Interest capitalized (1,802) (1,166) (3,245) (2,090) Interest expense, net 29,635 25,086 57,686 49,250 Bunkers and CO2 emissions swaps cash settlements (521) — (1,119) — Amortization of deferred finance costs 1,055 874 1,872 2,083 Bank charges 59 67 60 136 Amortization of deferred gain on termination of financial instruments (882) (1,313) (2,094) (2,611) Interest expense on redeemable preferred shares — 663 — 663 Change in fair value of non-hedging financial instruments 707 (1,043) (1,207) (673) Net total 30,053 24,334 55,198 48,848

Earnings per common share (Tabl

Earnings per common share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) per Common Share (Table)	Earnings (Loss) per Common Share (Table) Three months ended June 30 Six months ended June 30, 2024 2023 2024 2023 Numerator Net income attributable to Tsakos Energy Navigation Limited $ 76,386 $ 60,641 $ 130,422 $ 237,196 Preferred share dividends Series D — (1,924) — (3,848) Preferred share dividends Series E (2,744) (2,743) (5,488) (5,486) Preferred share dividends Series F (4,006) (4,006) (8,012) (8,012) Deemed dividend on redeemable Series D preferred shares — (3,256) — (3,256) Net income attributable to common stockholders of T 69,636 48,712 116,922 216,594 Denominator W eighted average number of shares basic and diluted 29,505,603 29,505,603 29,505,603 29,505,603 Earnings per share attributable to Tsakos Energy Navigation Limited, basic and diluted $ 2.36 $ 1.65 $ 3.96 $ 7.34

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies - Minimum Future Charter Revenue (Table)	Commitments and Contingencies - Minimum Future Charter Revenue (Table) Period/ Year Amount July 1 to December 31, 2024 $ 266,724 2025 350,041 2026 229,276 2027 148,075 2028 100,231 2029 to 2039 263,883 Minimum charter revenues $ 1,358,230

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Financial Instruments - Schedule of Carrying Values and Estimated Fair Values of Financial Instruments (Table)	Financial Instruments - Schedule of Carrying Values and Estimated Fair Values of Financial Instruments (Table) Carrying June 30, 2024 Fair Value June 30, 2024 Carrying December 31, 2023 Fair Value December 31, 2023 Financial assets (liabilities) Cash and cash equivalents 377,270 377,270 372,032 372,032 Restricted cash 4,651 4,651 4,662 4,662 Margin deposits 4,270 4,270 4,270 4,270 Time deposits and treasury bills 94,505 94,505 — — Long-term receivable 12,442 12,442 23,812 23,812 Investments in debt securities 10,086 10,086 5,064 5,064 Debt and other financial liabilities (1,792,679) (1,792,679) (1,572,692) (1,572,692)
Financial Instruments - Schedule of Derivative Instruments - Statements of Financial Position Location (Table)	Financial Instruments - Schedule of Derivative Instruments - Statements of Financial Position Location (Table) Asset Derivatives Liability Derivatives June 30, 2024 December 31,2023 June 30, 2024 December 31, 2023 Balance Sheet Location Fair Value Fair Value Fair Value Fair Value Derivatives not designated as hedging instruments Interest rate swaps Current portion of financial instruments - Fair value 670 646 — — Financial instruments - Fair value, net of current portion 38 — — 524 Bunker and CO2 swaps Current portion of financial instruments - Fair value 1,370 607 214 72 Subtotal 2,078 1,253 214 596 Total derivatives 2,078 1,253 214 596
Financial Instruments - Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative (Effective Portion) (Table)	Financial Instruments - Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative (Effective Portion) (Table) Gain (Loss) Recognized in Accumulated Derivative Amount Amount 2024 2023 2024 2023 Interest rate swaps 22 — 45 (132) Reclassification to Interest and finance costs, net due to de-designations (882) (1,313) (2,094) (2,611) Reclassification to depreciation expense 29 123 58 115 Total (831) (1,190) (1,991) (2,628)
Financial Instruments - Schedule of Derivatives Not Designated as Hedging Instruments - Net Effect on the Statement Of Comprehensive Income (Table)	Financial Instruments - Schedule of Derivatives Not Designated as Hedging Instruments - Net Effect on the Statement Of Comprehensive Income (Table) Net Realized and Unrealized Gain (Loss) recognized on Derivative Location Amount Amount 2024 2023 2024 2023 Interest rate swaps Interest and finance costs, net (210) 1,046 587 676 Bunker and CO2 swaps Interest and finance costs, net (497) (3) 620 (3) Total (707) 1,043 1,207 673
Financial Instruments - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Table)	Financial Instruments - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Table) Recurring measurements: June 30, December 31, Interest rate swaps 587 122 Bunker and CO2 swaps 620 535 Total 1,207 657

Liabilities assumed from time_2

Liabilities assumed from time charters attached (Tables)	6 Months Ended
	Jun. 30, 2024
Liabilities Assumed From Time Charters Attached
Liabilities assumed from time charters attached - Unamortized balance expected to be amortized (table)	Liabilities assumed from time charters attached - Unamortized balance expected to be amortized (table) Period/ Year Amount July 1 to December 31, 2024 $ 10,928 2025 15,153 2026 4,906 2027 2,580 Liabilities assumed from time charters attached $ 33,567

Basis of Presentation (Details

Basis of Presentation (Details Narrative) $ in Thousands	Jun. 30, 2024 USD ($)
Accounting Policies [Abstract]
Time Deposits, at Carrying Value	$ 40,000
US Government Securities, at Carrying Value	$ 54,505

Transactions with Related Par_2

Transactions with Related Parties (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Due from related parties	$ 4,807,000		$ 4,807,000		$ 5,287,000
Due to related parties	6,252,000		6,252,000		3,558,000
Accrued Liabilities, Current	38,181,000		38,181,000		33,391,000
Other Nonoperating Income (Expense)	4,000	$ (241,000)	75,000	$ (180,000)
Tsakos Shipmanagement S.A. [Member]
Related Party Transaction [Line Items]
Due from related parties	4,807,000		4,807,000		5,287,000
Professional and Contract Services Expense	0	171,000	0	374,000
Tsakos Shipping And Trading S.A. [Member]
Related Party Transaction [Line Items]
Services rendered expense		256,000
Estimated Future Management Fees Remainder Of 2024 [Member]
Related Party Transaction [Line Items]
Services rendered expense			11,073,000
Estimated Future Management Fees Remainder Of 2025 [Member]
Related Party Transaction [Line Items]
Services rendered expense			22,308,000
Estimated Future Management Fees Remainder Of 2026 [Member]
Related Party Transaction [Line Items]
Services rendered expense			22,209,000
Estimated Future Management Fees Remainder Of 2027 [Member]
Related Party Transaction [Line Items]
Services rendered expense			22,074,000
Estimated Future Management Fees Remainder Of 2028 [Member]
Related Party Transaction [Line Items]
Services rendered expense			22,278,000
Estimated Future Management Fees Remainder Of 2029 To 2033 [Member]
Related Party Transaction [Line Items]
Services rendered expense			94,221,000
Tsakos Energy Management Limited [Member]
Related Party Transaction [Line Items]
Services rendered expense	5,086,000	4,809,000	10,061,000	10,030,000
Supervisory services expenses	463,000	473,000	861,000	879,000
Due from related parties	229,000		$ 229,000		157,000
Incentive Awards [Member]
Related Party Transaction [Line Items]
Selling, General and Administrative Expense				5,000,000
Tsakos Shipping And Trading S.A. [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Rate			1.25%
Due to related parties	3,348,000		$ 3,348,000		1,501,000
Accrued Liabilities, Current	423,000		423,000		667,000
Tsakos Shipping And Trading S.A. [Member] | Tsakos Shipping and Trading S.A. Technical Services [Member]
Related Party Transaction [Line Items]
Services rendered expense	409,000		1,013,000	327,000
Due from related parties	1,429,000		1,429,000		1,098,000
Tsakos Shipping And Trading S.A. [Member] | Tsakos Shipping and Trading S.A. Chartering Services [Member]
Related Party Transaction [Line Items]
Services rendered expense	2,564,000	2,687,000	5,102,000	5,924,000
Commissions In Connection With Delivery Of Each New Building			250,000
Argosy Insurance Company Limited [Member]
Related Party Transaction [Line Items]
Services rendered expense	3,796,000	3,351,000	7,058,000	6,642,000
Due to related parties	3,535,000		3,535,000		2,468,000
Other Nonoperating Income (Expense)			1,229,000	3,593,000
Accrued Insurance, Current	1,252,000		1,252,000		328,000
AirMania Travel S.A. [Member]
Related Party Transaction [Line Items]
Services rendered expense	1,610,000	$ 1,661,000	3,533,000	3,223,000
Due to related parties	$ 569,000		569,000		$ 530,000
Operating conventional vessels [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			30,000
Chartered out vessels on a bare-boat basis and vessels under construction [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			21,000
DP2 Shuttle Tankers [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			36,000
Third Party Managed Suezmax Decathlon [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			28,800	28,400
Third Party managed vessel VLCC Ulysses [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			30,100	29,700
Third Party managed vessel Neo Energy [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			45,900	45,100
Third Party Managed Tanergy [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			37,500	36,700
Third Party Managed Maria Princess [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			30,100	29,700
Third Party Managed Ise Princess [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			29,300	28,900
Third Party managed vessel VLCC Dias I [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			28,700
Third Party Managed Suezmax Eurochampion 2004 [member]
Related Party Transaction [Line Items]
Monthly Management Fees			29,700
Third Party Managed PoppyS [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			29,300
Third Party Managed DF Mystras [Member]
Related Party Transaction [Line Items]
Monthly Management Fees			28,700
Two Suezmax Tankers And Two Aframax Tankers One Lng Carrier [Member] | Tsakos Shipping And Trading S.A. [Member]
Related Party Transaction [Line Items]
Brokerage commission amount			1,168,000
Six Handymax Tankers Two Handysize Tankers [Member] | Tsakos Shipping And Trading S.A. [Member]
Related Party Transaction [Line Items]
Brokerage commission amount				848,000
Njord DF, RanDF, Chios DF and Ithaki DF [Member] | Tsakos Shipping And Trading S.A. [Member]
Related Party Transaction [Line Items]
Costs and Expenses, Related Party			1,000,000,000
LNG Carrier Tenergy and DP2 Shuttle Tanker Porto [Member] | Tsakos Shipping And Trading S.A. [Member]
Related Party Transaction [Line Items]
Costs and Expenses, Related Party				500,000
Fixed Assets [Member] | Argosy Insurance Company Limited [Member]
Related Party Transaction [Line Items]
Other Nonoperating Income (Expense)			$ 6,820,000	$ 3,216,000

Revenue from contracts with c_2

Revenue from contracts with customers (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Deferred revenue			$ (14,254)	$ 7,317
Charter Hire Paid In Advance [Member]
Finite-Lived Intangible Assets [Line Items]
Unearned Revenue			10,605		$ 17,391
Charter Agreements With Varying Rates [Member]
Finite-Lived Intangible Assets [Line Items]
Deferred revenue			7,043		$ 14,511
Voyage charters and contracts of affreightment [Member]
Finite-Lived Intangible Assets [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 67,525	$ 84,234	135,285	209,184
Time Charter Hire Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Operating Lease, Lease Income	$ 146,530	$ 137,220	$ 280,359	$ 273,483

Right-of-use assets and lease_3

Right-of-use assets and lease liabilities - Operating Leases (Table) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Right-of-use Assets And Lease Liabilities
July 1 to December 31, 2024	$ 7,659
2025	15,332
2026	4,992
Minimum net lease payments	27,983
Less: present value discount	(4,468)
Total obligations under operating leases and financial liability (current and non-current portion)	$ 23,515

Right-of-use assets and lease_4

Right-of-use assets and lease liabilities - Finance Leases (Table) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Total Obligations under finance leases	$ 42,659	$ 0
Lease Commitment [Member]
2024	42,918
Minimum net lease payments	42,918
Less: Discounting effect	(259)
Total Obligations under finance leases	$ 42,659

Right-of-use assets and lease_5

Right-of-use assets and lease liabilities (Details Narrative) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended			12 Months Ended
	Jan. 09, 2020	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	May 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 21, 2021	Dec. 21, 2020	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Long-term receivable of seller's credit		$ 12,442	$ 12,442			$ 12,442				$ 23,812
Operating Lease, Liability										23,515
Operating lease liability current		1,080	1,080			1,080				1,067
Operating lease liability non current		557	557			557				1,097
Operating Lease, Right-of-Use Asset		21,878	21,878			21,878				36,969
Operating Lease, Liability, Current		11,790	11,790			11,790				21,031
Operating Lease, Liability, Noncurrent		10,088	10,088			10,088				15,937
Finance Lease, Liability, Current		42,659	42,659			42,659				0
Finance Lease, Right-of-Use Asset, after Accumulated Amortization		54,409	54,409			54,409				0
Finance Lease, Right-of-Use Asset, Amortization						707	$ 306
Sakura Princess [Member]
Property, Plant and Equipment [Line Items]
Sale Leaseback Transaction, Lease Terms									five-year
Net sale Price									$ 24,527
Incentive to Lessee									4,425
Long-term receivable of seller's credit		4,345	4,345			4,345
Finance Lease, Liability									$ 5,148
Operating Lease, Liability		1,637	1,637			1,637				2,164
Operating lease liability current		1,080	1,080			1,080				1,067
Operating lease liability non current		557	557			557				$ 1,097
Operating Lease, Right-of-Use Asset		$ 4,169	$ 4,169			$ 4,169
Incremental borrowing rate		2.54%	2.54%			2.54%
Operating Lease, Weighted Average Remaining Lease Term		1 year 5 months 23 days	1 year 5 months 23 days			1 year 5 months 23 days				1 year 11 months 23 days
Arctic and Antarctic [Member]
Property, Plant and Equipment [Line Items]
Sale Leaseback Transaction, Lease Terms								five-year
Net sale Price								$ 52,304
Incentive to Lessee								$ 8,415
Long-term receivable of seller's credit		$ 8,097	$ 8,097			$ 8,097
Operating Lease, Right-of-Use Asset		$ 17,709	$ 17,709			$ 17,709
Incremental borrowing rate		2.98%	2.98%			2.98%
Operating Lease, Weighted Average Remaining Lease Term		1 year 11 months 26 days	1 year 11 months 26 days			1 year 11 months 26 days				2 years 5 months 26 days
Arctic, Antarctic and Sakura Princess [member]
Property, Plant and Equipment [Line Items]
Sublease Income			$ 9,421			$ 18,458
Archangel, Alaska, Arctic, Antarctic and Sakura Princess [Member]
Property, Plant and Equipment [Line Items]
Sublease Income				$ 19,856			$ 49,540
Archangel and Alaska [Member]
Property, Plant and Equipment [Line Items]
Sale Leaseback Transaction, Lease Terms	five-year
Incentive to Lessee	$ 11,800	$ 5,900	5,900			5,900
Sublease Income		1,399			$ 7,089
Proceeds from Lease Payment, Sales-Type and Direct Financing Leases, Investing Activity	61,070
Finance Lease, Liability, Current		42,659	42,659		43,316	42,659
Lease Incentive Receivable, Noncurrent	$ 11,800
Finance Lease, Principal Payments						918
Finance Lease, Interest Expense						261
Finance Lease, Right-of-Use Asset, after Accumulated Amortization		$ 54,409	$ 54,409		$ 55,116	54,409
Finance Lease, Right-of-Use Asset, Amortization						$ 707
Finance Lease, Weighted Average Discount Rate, Percent					7.10%
Finance Lease, Weighted Average Remaining Lease Term		6 months 10 days	6 months 10 days			6 months 10 days
Property, Plant and Equipment, Additions						$ 21,000

Vessels (Details Narrative)

Vessels (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Gain on sale of vessels	$ 32,495	$ 0	$ 48,662	$ 81,198
Chios Df And Ithaki DF [Member]
Property, Plant and Equipment [Line Items]
Vessel delivery date			January 11 and 19, 2024
Property, Plant and Equipment, Additions			$ 156,649
DF Montmartre, Alpes, DF Mystras, Aspen And PoppyS. [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Additions			350,000
Euronike, Izumo Princess, Nippon Princess And Neo Energy [Member]
Property, Plant and Equipment [Line Items]
Gain on sale of vessels	$ 32,495
Eurocampion And Euronike, Izumo Princess, Nippon Princess And Neo Energy [Member]
Property, Plant and Equipment [Line Items]
Gain on sale of vessels			$ 48,662
Afrodite, Artemis, Ariadne, Aris, Ajax, Apollon, Arion, and Amphitrite [Member]
Property, Plant and Equipment [Line Items]
Gain on sale of vessels				$ 81,198
Neo Energy [Member]
Property, Plant and Equipment [Line Items]
Impairment charges					$ 26,367

Deferred charges and leasehol_2

Deferred charges and leasehold improvements (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Deferred Costs	$ 32,337	$ 33,682
Archangel, Alaska, Arctic, Antarctic and Sakura Princess [Member]
Property, Plant and Equipment [Line Items]
Leasehold Improvements, Gross	$ 5,779	$ 4,631

Long-term Debt (Table) (Details

Long-term Debt (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Loans	$ 1,636,430	$ 1,411,779
Less: Deferred finance costs, net	(9,483)	(8,046)
Total long-term debt	1,626,947	1,403,733
Less: Current portion of debt	(243,501)	(185,516)
Add: Deferred finance costs, current portion	3,036	2,532
Long-term debt, net of current portion and deferred finance costs	$ 1,386,482	$ 1,220,749

Long-term debt and other fina_3

Long-term debt and other financial liabilities - Weighted-Average Interest Rates (Table) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Disclosure [Abstract]
Weighted-average interest rates on the executed loans	7.09%	6.65%	7.17%	6.54%

Long-term debt and other fina_4

Long-term debt and other financial liabilities- Principal Payments (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
July to December 2024	$ 109,478
2025	242,190
2026	246,744
2027	376,846
2028	229,148
2029 and thereafter	432,024
Total	$ 1,636,430	$ 1,411,779

Long-term debt and other fina_5

Long-term debt and other financial liabilities - Other financial liabilities, net (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other financial liabilities	$ 156,249
Less: Deferred finance costs, net	(9,483)	$ (8,046)
Add: Deferred finance costs, current portion	3,036	2,532
Financial Liabilities Net [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other financial liabilities	156,249	160,912
Less: Deferred finance costs, net	(1,817)	(1,988)
Total other financial liabilities	154,432	158,924
Less: Current portion of other financial liabilities	(9,328)	(9,328)
Add: Deferred finance costs, current portion	325	338
Other financial liabilities, net of current portion and deferred finance costs	$ 145,429	$ 149,934

Long-term debt and other fina_6

Long-term debt and other financial liabilities - Schedule of annual lease liability (Table) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Debt Disclosure [Abstract]
July to December 2024	$ 4,665
2025	9,328
2026	9,328
2027	9,328
2028	9,328
2029 and thereafter	114,272
Total	$ 156,249

Long-term debt and other fina_7

Long-term debt and other financial liabilities (Details Narrative) - USD ($)	2 Months Ended		5 Months Ended	6 Months Ended	8 Months Ended
	Mar. 13, 2024	Mar. 01, 2024	May 31, 2024	Jun. 30, 2024	Aug. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Short-Term Debt [Line Items]
Loans Payable to Bank				$ 1,636,430,000		$ 1,411,779,000
Prepaid amount			$ 28,147,000
Cash and cash equivalents				$ 377,270,000		372,032,000	$ 529,217,000
Number of loan agreements				thirty-two
Debt Instrument, Covenant Compliance				The Company fulfilled its requirements in respect of the financial covenants of all of its loan agreements as at June 30, 2024
Purchase Obligation				$ 722,105,000
Minimum liquidity requirement [Member]
Short-Term Debt [Line Items]
Cash and cash equivalents				123,045,000		$ 75,026,000
Two loan agreements [Member]
Short-Term Debt [Line Items]
Restricted Cash and Cash Equivalents				$ 3,050,000
Alpes Poppy S. Aspen DF Mystras And DF Montmartre [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date, Description		five-year
Line of Credit Facility, Maximum Borrowing Capacity		$ 245,000,000
Long-Term Debt, Description		to finance the acquisition of the five vessels, Alpes, Poppy S., Aspen, DF Mystras and DF Montmartre
Number of repayment installments		ten
Debt Instrument, Frequency of Periodic Payment		semi-annual
Alpes Poppy S. Aspen DF Mystras And DF Montmartre [Member] | Six months after the delivery of the vessel I [Member]
Short-Term Debt [Line Items]
Debt Instrument, Periodic Payment		$ 2,012,500
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		28,175,000
Alpes Poppy S. Aspen DF Mystras And DF Montmartre [Member] | Six months after the delivery of the vessel III [Member]
Short-Term Debt [Line Items]
Debt Instrument, Periodic Payment		1,615,500
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		25,845,000
Alpes Poppy S. Aspen DF Mystras And DF Montmartre [Member] | Six months after the delivery of the vessel IV [Member]
Short-Term Debt [Line Items]
Debt Instrument, Periodic Payment		1,565,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		$ 37,550,000
DP2 Shuttle Tanker Athens 04 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date, Description	seven-year
Line of Credit Facility, Maximum Borrowing Capacity	$ 103,456,000
Long-Term Debt, Description	to the pre- and post- delivery financing of the under construction DP2 suezmax shuttle tanker Athens 04
Number of repayment installments	fourteen
Debt Instrument, Frequency of Periodic Payment	semi-annual
Debt Instrument, Periodic Payment	$ 2,873,770
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	63,223,108
Drawdown amount	$ 12,932,000
Selini And Salamina [Member]
Short-Term Debt [Line Items]
Long-Term Debt, Description			the refinancing of the panamax tankers, Selini  and Salamina
Number of repayment installments			two
Debt Instrument, Frequency of Periodic Payment			semi-annual
Debt Instrument, Periodic Payment			$ 2,308,800
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid			$ 2,308,800
DP2 Shuttle Tanker Anfield [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date, Description					seven-year
Line of Credit Facility, Maximum Borrowing Capacity					$ 111,776,000
Number of repayment installments					fourteen
Debt Instrument, Frequency of Periodic Payment					semi-annual
Debt Instrument, Periodic Payment					$ 3,000,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid					69,776,000
Drawdown amount					$ 14,903,000
Tenergy [Member]
Short-Term Debt [Line Items]
Long-Term Debt, Description				for its under-construction LNG carrier, Tenergy.
Number of repayment installments				forty
Debt Instrument, Frequency of Periodic Payment				quarterly
Debt Instrument, Periodic Payment				$ 2,332,000
Sale Leaseback Transaction, Date				December 21, 2021
Sale Leaseback Transaction, Lease Terms				ten-year
Description of scope				the Company took delivery of the LNG carrier Tenergy and chartered it back on a bareboat basis
Purchase Obligation				$ 83,955,000
All bank loans [Member]
Short-Term Debt [Line Items]
Loans Payable to Bank				$ 1,636,430,000
Debt Instrument, Description of Variable Rate Basis				Secured Overnight Financing Rate (“SOFR”) plus a spread

Interest and Finance Costs, n_3

Interest and Finance Costs, net (Table) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest And Finance Costs Net
Interest expense	$ 31,437	$ 26,252	$ 60,931	$ 51,340
Less: Interest capitalized	(1,802)	(1,166)	(3,245)	(2,090)
Interest expense, net	29,635	25,086	57,686	49,250
Bunkers and CO2 emissions swaps cash settlements	(521)	0	(1,119)	0
Amortization of deferred finance costs	1,055	874	1,872	2,083
Bank charges	59	67	60	136
Amortization of deferred gain on termination of financial instruments	(882)	(1,313)	(2,094)	(2,611)
Interest expense on redeemable preferred shares	0	663	0	663
Change in fair value of non-hedging financial instruments	707	(1,043)	(1,207)	(673)
Net total	$ 30,053	$ 24,334	$ 55,198	$ 48,848

Interest and Finance Costs, n_4

Interest and Finance Costs, net (Details Narrative) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	May 30, 2023 shares	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($) shares	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Interest Costs Incurred	$ 31,437	$ 26,252		$ 60,931	$ 51,340
Interest Costs Capitalized	1,802	1,166		3,245	$ 2,090
Fair Value Hedge Assets	$ 1,156			$ 1,156			$ 535
bunker and CO2 emission agreements	eleven bunker agreements and five CO2 emission agreements			eleven bunker agreements and five CO2 emission agreements			eight bunker agreements and two CO2 emission agreements
Series D Preferred Stock [Member]
Preferred Stock, Redemption Date					May 30, 2023
Stock Redeemed or Called During Period, Shares | shares			3,517,061		3,517,061
Interest expense					$ 663
Debt extinguishment guidance of ASC 470-50 [Member]
Deferred Debt Issuance Cost, Writeoff	$ 176	133		$ 176	430
Not Designated as Hedging Instrument [Member]
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)	621			621		$ 497
Amortization of deferred gain on termination of financial instruments	$ 521			$ 1,119
Interest Rate Swap [Member]
Number of Interest Rate Derivatives Held	1			1
Derivative, Fixed Interest Rate	3.82%			3.82%
Line of Credit Facility, Interest Rate Description				six-month SOFR
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Description of Interest Rate Derivative Activities				In 2022, the Company discontinued ten of its cash flow hedge interest rate swaps through early termination agreements. The Company considered the forecasted transactions as still probable for seven of those interest rate swaps
Cash flow hedge gains/(losses)	$ 882	1,313		$ 2,094	2,611
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Cash flow hedge gains/(losses)	210	1,046		586	676
Fair Value Hedge Assets	$ 708			$ 708
2024 bunker swap | CO2 Emission Swap [member] | Not Designated as Hedging Instrument [Member]
bunker and CO2 emission agreements	eight bunker agreements and three CO2 emission agreements			eight bunker agreements and three CO2 emission agreements
Derivative, Description of Hedged Item				to hedge its exposure to bunker price fluctuations associated with the consumption of bunkers by its vessels and the EU Allowances exposure
Maturity dates				between July through December 2024
Bunker Swap [Member] | Not Designated as Hedging Instrument [Member]
Interest Rate Cash Flow Hedge Asset at Fair Value		$ 3			$ 3			$ 3

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands

1 Months Ended

2 Months Ended

3 Months Ended

4 Months Ended

5 Months Ended

6 Months Ended

7 Months Ended

8 Months Ended

12 Months Ended

Jan. 30, 2024

Feb. 28, 2024

Jun. 30, 2024

Mar. 27, 2024

Jun. 30, 2023

Mar. 16, 2023

Apr. 30, 2024

May 28, 2024

May 30, 2023

Jun. 30, 2024

Jul. 07, 2023

Jun. 30, 2023

Jun. 15, 2023

Jul. 18, 2024

Dec. 31, 2023

Sep. 11, 2024

Aug. 28, 2024

Dec. 31, 2023

Class of Stock [Line Items]

Stock Issued During Period, Shares, New Issues

0

0

Common Stock, Dividends, Per Share, Declared

$ 0.60

Dividends, Common Stock, Cash

$ 8,856

Common Stock, Dividends, Per Share, Cash Paid

$ 0.30

Deemed dividend on preferred shares

$ 0

$ 3,256

$ 0

$ 3,256

9.50% Series F Preferred Shares [Member]

Class of Stock [Line Items]

Preferred stock, dividends, per share

$ 0.59375

$ 0.59375

Dividends, Preferred Stock, Cash

8,012

Series E Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, dividends, per share

$ 0.57812

$ 0.57812

$ 0.57812

Dividends, Preferred Stock, Cash

$ 5,488

Common Stock [Member]

Class of Stock [Line Items]

Preferred stock, dividends, per share

$ 0.90

Common Stock, Dividends, Per Share, Declared

$ 0.60

$ 0.60

Dividends, Common Stock, Cash

$ 8,856

$ 17,705

$ 8,850

Common Stock, Dividends, Per Share, Cash Paid

$ 0.30

$ 0.30

Series D Preferred Stock [Member]

Class of Stock [Line Items]

Preferred stock, dividends, per share

$ 0.243056

Stock Redeemed or Called During Period, Shares

3,517,061

3,517,061

Liquidation preference

$ 25

Deemed dividend on preferred shares

$ 3,256

Accumulated other comprehensi_2

Accumulated other comprehensive income (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Equity [Abstract]
Unrealized income	$ 1,991	$ 2,628

Earnings (Loss) per Common Shar

Earnings (Loss) per Common Share (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator
Net income attributable to Tsakos Energy Navigation Limited	$ 76,386	$ 60,641	$ 130,422	$ 237,196
Preferred share dividends Series D	0	(1,924)	0	(3,848)
Preferred share dividends Series E	(2,744)	(2,743)	(5,488)	(5,486)
Preferred share dividends Series F	(4,006)	(4,006)	(8,012)	(8,012)
Deemed dividend on redeemable Series D preferred shares	0	(3,256)	0	(3,256)
Net income attributable to common stockholders of Tsakos Energy Navigation Limited	$ 69,636	$ 48,712	$ 116,922	$ 216,594
Denominator
Weighted average number of shares, diluted	29,505,603	29,505,603	29,505,603	29,505,603
Weighted average number of shares, basic	29,505,603	29,505,603	29,505,603	29,505,603
Earnings per share, basic attributable to Tsakos Energy Navigation Limited common Stockholders	$ 2.36	$ 1.65	$ 3.96	$ 7.34
Earnings per share, diluted attributable to Tsakos Energy Navigation Limited common Stockholders	$ 2.36	$ 1.65	$ 3.96	$ 7.34

Commitments and Contingencies -

Commitments and Contingencies - Minimum Future Charter Revenue (Table) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
July 1 to December 31, 2024	$ 266,724
2025	350,041
2026	229,276
2027	148,075
2028	100,231
2029 to 2039	263,883
Minimum charter revenues	$ 1,358,230

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) $ in Thousands	Jun. 30, 2024 USD ($)
Property, Plant and Equipment [Line Items]
Purchase Obligation	$ 722,105
DP2 Shuttle Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels under construction.	3
Suezmax Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels under construction.	2
MR Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels under construction.	2
LR1 Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels under construction.	3
Ten Vessels Under Construction [Member]
Property, Plant and Equipment [Line Items]
Payable in 2024	$ 113,477
Payable in 2025	320,344
Payable in 2026	175,914
Payable in 2027	$ 112,370

Financial Instruments - Schedul

Financial Instruments - Schedule of Carrying Values and Estimated Fair Values of Financial Instruments (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Cash and cash equivalents - Carrying Amount	$ 377,270	$ 372,032	$ 529,217
Cash and cash equivalents - Fair Value	377,270	372,032
Restricted cash - Carrying Amount	4,651	4,662	$ 4,877
Restricted cash - Fair Value	4,651	4,662
Margin deposits - Carrying Amount	4,270	4,270
Margin deposits - Fair Value	4,270	4,270
Time deposits and treasury bills - Carrying Amount	94,505	0
Time deposits and treasury bills - Fair Value	94,505	0
Long-term receivable - Carrying Amount	12,442	23,812
Long-term receivable - Fair Value	12,442	23,812
Investment in Debt securities - Carrying Amount	10,086	5,064
Investment in Debt securities - Fair Value	10,086	5,064
Debt and other financial liabilities - Carrying Amount	(1,792,679)	(1,572,692)
Debt and other financial liabilities - Fair Value	$ (1,792,679)	$ (1,572,692)

Financial Instruments - Sched_2

Financial Instruments - Schedule of Derivative Instruments - Statements of Financial Position Location (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liability, Noncurrent	$ 0	$ 524
Not Designated as Hedging Instrument [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	2,078	1,253
Derivative Instruments in Hedges, Liabilities, at Fair Value	214	596
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset, Current	670	646
Derivative Liability, Current	0	0
Derivative Asset, Noncurrent	38	0
Derivative Liability, Noncurrent	0	524
Bunker Swaps [Member] | Not Designated as Hedging Instrument [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Asset, Noncurrent	1,370	607
Derivative Liability, Noncurrent	214	72
Total Derivatives [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Instruments in Hedges, Assets, at Fair Value	2,078	1,253
Derivative Instruments in Hedges, Liabilities, at Fair Value	$ 214	$ 596

Financial Instruments - Gain (L

Financial Instruments - Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative (Effective Portion) (Table) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (831)	$ (1,190)	$ (1,991)	$ (2,628)
Gain/(Loss) Recognized in Accumulated Other Comprehensive Income - Loss on Derivative (Effective Portion) Location [Member]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	22	0	45	(132)
Reclassification to Interest and finance costs net due to de-designations [Member]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(882)	(1,313)	(2,094)	(2,611)
Reclassification to Deprecation Expense [Member]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	29	123	58	115
Total [Member]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (831)	$ (1,190)	$ (1,991)	$ (2,628)

Financial Instruments - Sched_3

Financial Instruments - Schedule of Derivatives Not Designated as Hedging Instruments - Net Effect on the Statement Of Comprehensive Income (Table) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Option, Quantitative Disclosures [Line Items]
Total	$ (707)	$ 1,043	$ 1,207	$ 673
Reclassification to Interest and finance costs net due to de-designations [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments	(210)	1,046	587	676
Bunker and CO2 swaps	$ (497)	$ (3)	$ 620	$ (3)

Financial Instruments - Sched_4

Financial Instruments - Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Interest rate swaps	$ 587	$ 122
Bunker and CO2 swaps	620	535
Fair Value, Net Asset (Liability), Total	$ 1,207	$ 657

Financial Instruments (Details

Financial Instruments (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Cash collateral	$ 4,270	$ 4,270

Liabilities assumed from time_3

Liabilities assumed from time charters attached - Unamortized balance expected to be amortized (table) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Liabilities Assumed From Time Charters Attached
July 1 to December 31, 2024	$ 10,928
2025	15,153
2026	4,906
2027	2,580
Liabilities assumed from time charters attached	$ 33,567	$ 0

Liabilities assumed from time_4

Liabilities assumed from time charters attached (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
amortization assumed from time charters			$ 6,276	$ 0
D F Montmartre Alpes Aspen Poppy S [Member]
Property, Plant and Equipment [Line Items]
liability recognized from time charter agreement			39,843
D F Montmartre Alpes D F Mystras Aspen Poppy S [Member]
Property, Plant and Equipment [Line Items]
amortization assumed from time charters	$ 6,276	$ 0	$ 6,276	$ 0

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - $ / shares	2 Months Ended	5 Months Ended	6 Months Ended		7 Months Ended	8 Months Ended		12 Months Ended
	Feb. 28, 2024	May 28, 2024	Jun. 30, 2026	Jun. 30, 2025	Jul. 29, 2024	Sep. 11, 2024	Aug. 28, 2024	Dec. 31, 2025	Dec. 31, 2024	Jul. 24, 2024
Series F Preferred Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid					$ 0.59375
Preferred Stock, Dividend Rate, Percentage					9.50%
Series E Preferred Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 0.57812	$ 0.57812					$ 0.57812
Preferred Stock, Dividend Rate, Percentage							9.25%
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid						$ 0.90
2024 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
restricted common shares granted										625,000
Restricted shares vested			25%	25%				25%	25%