US-listed Tsakos Energy Navigation (TEN), an owner of nearly 70 tankers and LNG carriers, reported a narrower loss in the first quarter but predicted much rosier times ahead.

The Greece-based company announce a net loss of $4.8m for the period between January and March, compared with a wider loss of $29.6m in the fourth quarter of 2020 and a profit of $22m in the first quarter of last year.