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Consolidated Statements of Cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities of continuing operations:      
Net income from continuing operations $ 98,178 $ 30,367 $ 24,421
Adjustments to reconcile net income to net cash provided by operating activities of continuing operations:      
Vessel depreciation and amortization (Note 6) 46,935 41,405 29,261
Amortization and write-off of deferred financing costs 3,122 3,047 1,096
Amortization / accretion of above / below market acquired charters (Note 7) 7,287 11,696 14,380
Equity compensation expense (Note 14) 2,043 2,049 907
Change in fair value of derivatives (Note 9) 3,167 0 0
Unrealized gain from exchange difference of Euro denominated Bonds (Notes 8, 9) (3,374) 0 0
Gain on sale of vessels (Note 6) (46,812) 0 0
Changes in operating assets and liabilities:      
Trade accounts receivable (3,170) (165) 13,436
Prepayments and other assets (201) (1,384) (1,195)
Inventories (1,481) (2,057) 45
Claims (696) 339 (1,085)
Trade accounts payable (252) 3,779 (9,406)
Due to related parties (472) (1,999) (12,486)
Accrued liabilities 2,687 684 (9,558)
Deferred revenue 6,098 (1,005) (3,585)
Dry-docking costs paid (1,895) (6,074) (954)
Net cash provided by operating activities of continuing operations 111,164 80,682 45,277
Cash flows from investing activities of continuing operations:      
Vessel acquisitions and improvements including time charter agreements (Notes 6, 7) (368,096) (185,247) (6,519)
Net proceeds from sale of vessels (Note 6) 193,031 0 0
Net cash used in investing activities of continuing operations (175,065) (185,247) (6,519)
Cash flows from financing activities of continuing operations:      
Proceeds from long-term debt (Note 8) 204,266 270,850 0
Payments of long-term debt (Note 8) (145,471) (153,573) (32,733)
Deferred financing costs paid (6,131) (4,765) (788)
Repurchase of common units (Note 13) (4,499) 0 0
Redemption of Class B unit holders (Note 13) 0 0 (116,850)
Dividends paid (Note 13) (7,613) (17,075) (28,771)
Net cash provided by / (used in) financing activities of continuing operations 40,552 95,437 (179,142)
Net decrease in cash, cash equivalents and restricted cash from continuing operations (23,349) (9,128) (140,384)
Cash flows from discontinued operations      
Operating activities 0 0 8,905
Investing activities 0 0 (1,484)
Financing activities 0 0 158,228
Net increase in cash, cash equivalents and restricted cash from discontinued operations 0 0 165,649
Net (decrease) / increase in cash, cash equivalents and restricted cash (23,349) (9,128) 25,265
Cash, cash equivalents and restricted cash at the beginning of the year 54,336 63,464 38,199
Cash, cash equivalents and restricted cash at the end of the year 30,987 54,336 63,464
Supplemental cash flow information      
Cash paid for interest 15,750 15,347 20,138
Non-Cash Investing and Financing Activities      
Capital expenditures included in liabilities 1,008 2,507 15,004
Capitalized dry-docking costs included in liabilities 123 1,649 2,560
Deferred financing costs included in liabilities 112 6 0
Financing arrangements and credit facility assumed in connection with the acquisition of companies owning vessels (Notes 5, 8) 866,344 0 0
Seller’s credit agreements in connection with the acquisition of companies owning vessels (Notes 5, 8) 16,000 0 0
Issuance of common units in connection with the acquisition of companies owning vessels (Notes 5, 13) 15,277 0 0
Expenses for sale of vessels included in liabilities (Note 6) 1,984 0 0
Reconciliation of cash, cash equivalents and restricted cash      
Cash and cash equivalents 20,373 47,336 57,964
Restricted cash - Non-current assets 10,614 7,000 5,500
Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 30,987 $ 54,336 $ 63,464