Tsakos Energy Navigation (TEN) has reported a smaller profit for the first quarter but it still beat the analysts’ estimates.
The Greek tanker owner booked net income of $21.5m from January to March, compared to $35.2m at the same stage of 2015.
It explained that three suezmaxes were sent to the drydock earlier than scheduled, which resulted in fewer operating days in the first quarter.
But
