Tsakos Energy Navigation closed out the tanker sectors’ 2Q revenues with 10% growth on a year earlier. That was better than all the other tanker operators except Nakilat’s LNG-fuelled growth. However, it was 6% below analysts’ expectations. With a 25% growth in capacity the implied impact of utilization and rates resulted in a 15% drop in revenues. The tanker and bulker sector overall saw revenues drop 6% in the second quarter. Optically the third quarter may look better by comparison as rates are 15% higher. Yet, they are down vs. the second quarter and the end to capacity expansion – a...