Tsakos Energy Navigation (TEN) has put up quarterly results in line with market expectations but foresees better days ahead.

The Nikolas Tsakos-led company posted net loss of $9.55m versus a $3.58m profit during the same period last year.

That translated into a $0.19 loss per share, down from a $0.03 loss per share from a year ago but consistent with Wall Street consensus.