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Significant Accounting Policies and Recent Accounting Pronouncements | 6 Months Ended
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Jun. 30, 2026
Significant Accounting Policies and Recent Accounting Pronouncements [Abstract] |
Significant Accounting Policies and Recent Accounting Pronouncements | Significant Accounting Policies and Recent Accounting Pronouncements: A discussion of the Company’s significant accounting policies can be found in Note 2 to the Company’s Consolidated Financial Statements included in the Annual Report on Form 20-F for the year ended December 31, 2025. There have been no material changes to these policies in the six months ended June 30, 2026, except for as discussed below: Nonrevolving Loan Commitment Fees During the six months ended June 30, 2026, the Company adopted a change in its accounting policy related to loan commitment fees. Previously, loan commitment fees were expensed as incurred or were capitalized as part of the vessels' construction cost. Under the new policy, in accordance with ASC 310- 20-25-11, commitment fees are deferred until the debt is drawn and are subsequently presented as a contra-liability to the debt and amortized using the effective interest method. Management believes that this change results in a more appropriate presentation of the Company’s financial position and results of operations. The Company applied this change prospectively from the date of adoption, as the impact of the change in accounting policy on the Company’s consolidated financial statements for prior periods was not material. New Accounting Pronouncements In May 2026, the FASB issued Accounting Standards Update No. 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818), which establishes guidance for the recognition, measurement, presentation and disclosure of environmental credits and related environmental credit obligations. The amendments are effective for annual reporting periods beginning after December 15, 2027, including interim periods within those annual reporting periods, with early adoption permitted, and are required to be applied retrospectively. The Company is currently evaluating the impact of adopting this guidance on its consolidated financial statements and related disclosures.

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- Definition The entire disclosure for all significant accounting policies of the reporting entity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/235/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483426/235-10-50-1 + Details
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