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Long-term Debt - Related Party
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Long-term debt - related party Long-term debt – related party

The Company’s related party long-term debt consists of the following (in thousands):

 

September 30, 2024

 

 

December 31, 2023

 

Exquisite Vessel Financing

$

173,256

 

 

$

180,029

 

Less current portion

 

(8,777

)

 

 

(8,336

)

Total long-term related party debt

$

164,479

 

 

$

171,693

 

 

Exquisite Vessel Financing

In June 2018, the Company entered into a sale leaseback agreement with Nakilat Excelerate LLC, its equity method investment, to provide $220.0 million of financing for Exquisite at 7.73% (the “Exquisite Vessel Financing”). The agreement was recognized as a failed sale leaseback transaction and was treated as financing due to the Company’s lease of the vessel.