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Fair Value Measurements and Hedging (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements and Hedging - Schedule of Derivative Instrument

Fair Value Measurements and Hedging - Schedule of Derivative Instrument

Counterparty	Trading Date	Inception	Expiry	Fixed Rate	Initial Notional	Current Notional
ING	Mar-20	Mar-20	Mar-26	0.7000%	$    29,960	$  24,075
ING	Mar-20	Apr-20	Oct-25	0.7000%	$    39,375	$  30,000
ING	Mar-20	Apr-20	Apr-23	0.6750%	$    16,157	$  13,050
SEB	Mar-20	Apr-20	Jan-25	0.7270%	$    58,885	$  46,879
Citi	Jun-20	Jul-20	Oct-23	0.3300%	$  104,450	$  71,600
Citi	Jun-20	Aug-20	May-24	0.3510%	$    56,075	$  44,396
Citi	Jun-20	Jun-20	Dec-23	0.3380%	$    94,538	$  61,237
Citi	Jun-20	Jun-20	Aug-23	0.3280%	$    56,915	$  35,515
Citi	Jun-20	Jul-20	Jul-23	0.3250%	$    99,816	$  79,853
Citi	Jun-20	Aug-20	May-24	0.3520%	$    31,350	$  24,780
Citi	Jun-20	Sep-20	Mar-24	0.3430%	$    33,390	$  27,825
ING July 20	Jul-20	Jul-20	Jul-26	0.3700%	$    70,000	$  43,750
SEB	Feb-21	Apr-21	Jan-26	0.4525%	$    37,050	$  25,350
ABN	Feb-21	Mar-21	Dec-23	0.3120%	$    84,548	$  61,237
NBG	Jun-21	Jun-21	Jun-23	0.6500%	$  125,000	$102,500

Fair Value Measurements and Hedging - Derivative instruments effect on statements of operations (Table)

Fair Value Measurements and Hedging - Derivative instruments effect on statements of operations (Table)

		Years ended December 31,
		2020		2021		2022
Consolidated Statement of Operations
Interest and finance costs
Reclassification adjustments of interest rate swap loss/(gain) transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)		(848)		(2,351)		10,044
Total Gain/(loss) recognized	$	(848)	$	(2,351)	$	10,044
Gain/(loss) on forward freight agreements and bunker swaps, net
Realized gain/(loss) on forward freight agreements and freight options		(5,995)		1,308		1,165
Realized gain/(loss) on bunker swaps		20,856		748		(5,198)
Unrealized gain/(loss) on forward freight agreements and freight options		(430)		1,802		(1,398)
Unrealized gain/(loss) on bunker swaps		1,725		(294)		3,980
Total Gain/(loss) recognized	$	16,156	$	3,564	$	(1,451)

Fair Value Measurements and Hedging - Fair value on a recurring basis - Quoted Prices in Active Markets (Table)

Fair Value Measurements and Hedging - Fair value on a recurring basis - Quoted Prices in Active Markets (Table)

		Significant Other Observable Inputs (Level 2)
		December 31, 2021				December 31, 2022
	Balance Sheet Location	(not designated as cash flow hedges)			(designated as cash flow hedges)	(not designated as cash flow hedges)			(designated as cash flow hedges)
ASSETS
Forward freight agreements - current	Derivatives, current asset portion	$	1,440	$	-	$	191	$	-
Bunker swaps - current	Derivatives, current asset portion	$	7	$	-	$	3,688	$	-
Forward freight agreements - non-current	Derivatives, non-current asset portion	$	150	$	-	$	-	$	-
Total		$	1,597	$	-	$	3,879	$	-
LIABILITIES
Bunker swaps - current	Derivatives, current asset portion	$	300	$	-	$	-	$	-
Total		$	300	$	-	$	-	$	-

Fair Value Measurements and Hedging - Fair value on a recurring basis - Significant Other Observable Inputs (Table)

Fair Value Measurements and Hedging - Fair value on a recurring basis -  Significant Other Observable Inputs (Table)

			Significant Other Observable Inputs (Level 2)
			December 31, 2021				December 31, 2022
	Balance Sheet Location		(not designated as cash flow hedges)		(designated as cash flow hedges)		(not designated as cash flow hedges)		(designated as cash flow hedges)
ASSETS
Interest rate swaps - current	Derivatives, current asset portion	$	-	$	549	$	1,665	$	20,041
Interest rate swaps - non-current	Derivatives, non-current asset portion	$	-	$	6,763	$	798	$	7,868
Total		$	-	$	7,312	$	2,463	$	27,909
LIABILITIES
Interest rate swaps - current	Derivatives, current liability portion	$	-	$	443	$	-	$	-
Total		$	-	$	443	$	-	$	-

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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