Tsakos Energy Navigation (TEN), an owner of more than 50 tankers and LNG carriers on the water, posted yet another record quarterly profit, backed by robust markets and the lucrative sale of eight of its product carriers.

The New York-listed company, which will celebrate its 30th year as a public company in October, said net income reached $177m in the first three months of the year, compared with a mere $5.5m