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Fair Value Measurements and Hedging (Tables)

12 Months Ended

Dec. 31, 2024

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	$  19,795
ING	Mar-20	Apr-20	Oct-25	0.7000%	$    39,375	$  22,500
SEB	Mar-20	Apr-20	Jan-25	0.7270%	$    58,885	$  38,494
ING	Jul-20	Jul-20	Jul-26	0.3700%	$    70,000	$  20,417
SEB	Feb-21	Apr-21	Jan-26	0.4525%	$    37,050	$  9,750

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,
		2022		2023		2024
Consolidated Income Statement
Gain/(loss) on derivative financial instruments, net
Realized gain/(loss) of de-designated accounting hedging relationship of interest rate swaps		—		—		335
Unrealized gain/(loss) of de-designated accounting hedging relationship of interest rate swaps		—		(3,539)		(2,299)
Realized gain/(loss) of foreign currency forward contracts		—		—		103
Total Gain/(loss) recognized	$	—	$	(3,539)	$	(1,861)
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)		10,044		21,786		5,565
Total Gain/(loss) recognized	$	10,044	$	21,786	$	5,565
Gain/(Loss) on FFAs and bunker swaps, net
Realized gain/(loss) on FFAs		1,165		1,923		(9,772)
Realized gain/(loss) on bunker swaps		(5,198)		6,403		68
Unrealized gain/(loss) on FFAs		(1,398)		(5,975)		5,639
Unrealized gain/(loss) on bunker swaps		3,980		(3,687)		32
Total Gain/(loss) recognized	$	(1,451)	$	(1,336)	$	(4,033)

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)

		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
		December 31, 2023				December 31, 2024
	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
FFAs - current	Derivatives, current asset portion	$	—	$	—	$	65	$	—
Bunker swaps - current	Derivatives, current asset portion		—		—		63		—
Total		$	—	$	—	$	128	$	—
LIABILITIES
FFAs - current	Derivatives, current liability portion	$	5,784	$	—	$	—	$	—
Total		$	5,784	$	—	$	—	$	—

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, 2023				December 31, 2024
	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	$	1,356	$	4,682	$	—	$	2,049
Foreign exchange forward contracts - current	Derivatives, current asset portion		—		267		—		—
Interest rate swaps - non-current	Derivatives, non-current asset portion		—		2,533		—		330
Total		$	1,356	$	7,482	$	—	$	2,379

Fair Value Measurements and Hedging - Fair value on a non-recurring basis - Long-lived assets held and used (Table)

Fair Value Measurements and Hedging - Fair value on a non-recurring basis - Long-lived assets held and used (Table)

Long-lived assets held and used			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Impairment loss
Vessels, net			-		11,155		-		1,800
Total		$	-	$	11,155		-	$	1,800

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- Definition

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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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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