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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 75,107 $ 67,356
Accounts receivable and accrued revenues 61,916 107,848
Capitalized voyage expenses 1,132 4,151
Prepaid expenses 3,920 4,846
Bunkers, lube oils and consumables 13,167 34,085
Total current assets 155,243 218,286
Non-current assets    
Vessels and time charter contracts 1,499,103 1,589,444
Advances for vessel upgrades 21,306 11,652
Other property, plant and equipment 4,630 3,065
Investment in associate company 5,595 4,772
Total non-current assets 1,530,635 1,608,932
TOTAL ASSETS 1,685,877 1,827,218
Current liabilities    
Accounts payable and accrued expenses 10,345 23,998
Derivative financial liabilities 9,137 4,320
Current portion long-term debt 18,263 100,385
Other current liabilities 655 605
Deferred shipping revenues 18,303 930
Total current liabilities 56,702 130,239
Non-current liabilities    
Long-term debt 474,106 750,586
Derivative financial liabilities 16,939 11,279
Other non-current liabilities 3,620 2,664
Total non-current liabilities 494,665 764,530
TOTAL LIABILITIES 551,367 894,768
Equity    
Common stock at par value 1,708 1,468
Additional paid-in capital 1,291,505 1,169,537
Accumulated deficit (162,027) (240,165)
Translation differences 47 73
Other reserves 3,266 1,531
Total equity attributable to the Company 1,134,499 932,444
Non-controlling interest 12 5
Total equity 1,134,510 932,449
TOTAL LIABILITIES AND EQUITY $ 1,685,877 $ 1,827,218