XML 13 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Unaudited Interim Condensed Consolidated Income Statements - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Revenues:    
Voyage revenues (Note 14) $ 612,265 $ 462,721
Expenses/(Income)    
Voyage expenses (Note 3 ) 129,428 128,635
Charter-in hire expenses (Note 6) 16,993 9,695
Vessel operating expenses  126,699 112,303
Dry docking expenses 22,369 18,861
Depreciation (Note 5) 75,537 70,075
Management fees (Notes 3)  8,696 8,460
General and administrative expenses (Note 3) 30,175 22,675
Impairment loss 0 7,700
Loss on write-down of inventory  0 4,743
Other operational loss 901 326
Other operational gain (1,742) (33,676)
Loss on bad debt 0 300
(Gain)/Loss on forward freight agreements and bunker swaps, net (Note 13) 4,316 (4,207)
Gain on sale of vessels (Note 5) (22,938) 34
Total operating expenses, net 390,434 345,924
Operating income 221,831 116,797
Other Income/ (Expenses):    
Interest and finance costs (Note 8) (46,112) (31,731)
Interest income and other income/(loss) 7,346 6,593
Gain/(Loss) on derivative financial instruments, net (Note 13) (1,246) (507)
Loss on debt extinguishment, net (Note 8) (1,010) (888)
Total other expenses, net (41,022) (26,533)
Income before taxes and equity in income of investee 180,809 90,264
Income tax (expense)/refund 116 (103)
Income before equity in income/(loss) of investee 180,925 90,161
Equity in income/(loss) of investee (Note 3) 11 33
Net income $ 180,936 $ 90,194
Earnings per share, basic $ 1.87 $ 0.88
Earnings per share, diluted $ 1.82 $ 0.87
Weighted average number of shares outstanding, basic (Note 10) 96,670,823 102,821,671
Weighted average number of shares outstanding, diluted  (Note 10) 99,716,982 103,170,724