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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:      
Net income $ 304,654 $ 173,556 $ 565,999
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:      
Depreciation 164,055 138,429 156,733
Amortization of debt (loans & leases) issuance costs 3,583 3,661 4,918
Noncash lease expense 18,385 9,793 10,638
Gain/(Loss) on debt extinguishment, net 1,144 5,149 (4,064)
Impairment loss 1,800 17,838 (0)
Gain on sale of vessels (43,287) (29,399) 0
Loss on bad debt 308 300 677
Share-based compensation 18,328 20,877 28,481
Gain from insurance proceeds relating to vessel total loss 0 (28,163) 0
Loss on write-down of inventory 6,286 9,318 17,326
Change in fair value of derivatives (3,372) 9,662 (2,583)
Other non-cash charges (190) 170 (225)
Write-off of current assets 0 0 607
Gain on hull and machinery claims (898) (200) 0
Equity in income/(loss) of investee 4 (60) (109)
(Increase)/Decrease in:      
Trade accounts receivable 33,600 14,396 (3,650)
Inventories 1,925 (5,851) (9,411)
Prepaid expenses and other receivables (11,187) (6,829) (3,818)
Derivatives asset 1,066 6,625 (91)
Accrued income (67) (0) (0)
Due from related parties 1 286 (82)
Due from managers (22) 61 9,338
Increase/(Decrease) in:      
Accounts payable (6,617) 7,306 11,563
Operating lease liability (18,387) (9,792) (10,638)
Due to related parties 1,615 158 75
Accrued liabilities (3,471) (2,610) 4,031
Due to managers 3,552 1,042 2,459
Deferred revenue (3,654) 54 (8,276)
Other current liabilities 2,000 (0) (0)
Net cash provided by / (used in) Operating Activities 471,154 335,777 769,898
Cash Flows from Investing Activities:      
Advances for vessels acquisitions, vessels under construction, vessel upgrades and other fixed assets (55,095) (18,091) (25,403)
Cash proceeds from vessel sales 303,232 195,968 (0)
Cash proceeds from vessel total loss (0) 55,000 (0)
Cash acquired related to the Eagle Merger 104,325 (0) (0)
Hull and machinery insurance proceeds 3,716 2,641 4,531
Net cash provided by / (used in) Investing Activities 356,178 235,518 (20,872)
Cash Flows from Financing Activities:      
Proceeds from bank loans 388,120 441,405 315,000
Loan and lease prepayments and repayments (730,134) (492,570) (576,025)
Financing and debt extinguishment fees paid (3,779) (6,588) (5,543)
Dividends paid (277,008) (158,052) (668,697)
Proceeds from issuance of common stock (0) 13,165 19,792
Offering expenses paid (96) (141) (412)
Repurchase of common shares (25,305) (393,108) (20,068)
Net cash provided by / (used in) Financing Activities (648,202) (595,889) (935,953)
Net increase/(decrease) in cash and cash equivalents and restricted cash 179,130 (24,594) (186,927)
Cash and cash equivalents and restricted cash at beginning of period 261,750 286,344 473,271
Cash and cash equivalents and restricted cash at end of period 440,880 261,750 286,344
Cash paid during the period for:      
Interest, net of amount capitalized 87,523 56,025 49,598
Non-cash investing and financing activities:      
Shares issued in connection with Eagle Merger 665,551 (0) (0)
Vessel upgrades 5,932 2,916 (0)
Assumed bank loans and Convertible notes debt related to Eagle Merger 514,180 (0) (0)
Right-of-use assets and lease obligations for charter-in contracts 171,615 (0) (0)
Unpaid offering expenses (0) (0) 33
Reconciliation of (a) cash and cash equivalents, and restricted cash reported within the consolidated balance sheets to (b) the total amount of such items reported in the statements of cash flows:      
Cash and Cash Equivalents, at Carrying Value 425,066 227,481 269,754
Restricted Cash, Current 11,218 32,248 14,569
Restricted Cash, Noncurrent 4,596 2,021 2,021
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Total $ 440,880 $ 261,750 $ 286,344