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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments  
Derivative Instruments - Schedule of Derivative instruments (Assets/ Liabilities) at fair value (Table)

As of December 31, 2024:

 

a) Derivative Asset:

 

Effective Date Termination Date Notional Amount in thousands of EUROS Notional Amount in United States Dollars Fixed Rate the Company receives in EURO Fixed Rate the Company pays in United States Dollars   Fair Value December 31, 2024, in United States Dollars
26/07/2022 26/07/2029 100,000 101,800 4.40% 6.55%   1,574
        Total Fair Value $ 1,574

 

 

b) Derivative Liabilities:

 

Effective Date Termination Date Notional Amount in thousands of EUROS Notional Amount in United States Dollars Fixed Rate the Company receives in EURO Fixed Rate the Company pays in United States Dollars   Fair Value December 31, 2024, in United States Dollars
21/10/2021 21/10/2025 120,000 139,716 2.65% 3.66% $ 14,588
21/10/2021 21/10/2025 30,000 34,929 2.65% 3.69%   3,526
        Total Fair Value $ 18,114

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9. Derivative Instruments – Continued

 

As of December 31, 2023:

 

a) Derivative Asset:

 

Effective Date Termination Date Notional Amount in thousands of EUROS Notional Amount in United States Dollars Fixed Rate the Company receives in EURO Fixed Rate the Company pays in United States Dollars   Fair Value December 31, 2023, in United States Dollars
26/07/2022 26/07/2029 100,000 101,800 4.40% 6.55% $ 6,636
        Total Fair Value $ 6,636

 

 

 

b) Derivative Liabilities:

 

Effective Date Termination Date Notional Amount in thousands of EUROS Notional Amount in United States Dollars Fixed Rate the Company receives in EURO Fixed Rate the Company pays in United States Dollars   Fair Value December 31, 2023, in United States Dollars
21/10/2021 21/10/2025 120,000 139,716 2.65% 3.66% $ 5,758
21/10/2021 21/10/2025 30,000 34,929 2.65% 3.69%   1,422
        Total Fair Value $ 7,180
Derivative Instruments - Summary of Gain (Loss) on Change in Fair Value of Derivatives - Derivative Designated as Accounting Hedge (Table)

 

- Derivative designated as accounting hedge

  For the years ended December 31,
 Amount of gain / (loss) recognized in other comprehensive income   2024   2023   2022
Cross-currency swap agreement related to 2022 Bonds $ (7,239) $  5,286 $ (1,757)
Reclassification to other income / (expense), net   8,536    (2,106)   (3,009)
Total gain/ (loss) recognized in accumulated other comprehensive income $ 1,297 $  3,180 $ (4,766)

 
Derivative Instruments - Summary of Gain (Loss) on Change in Fair Value of Derivatives - Derivatives not Designated as Accounting Hedge

 

- Derivatives not designated as accounting hedges:

  For the years ended December 31,
 Amount of gain /(loss) recognized in other income / (expense), net   2024   2023    2022
Change in fair value of derivatives related to 2021 Bonds $ (10,934) $ 5,529  $ (9,542)
Realized interest expense of derivatives related to 2021 Bonds   (2,141)   (2,111)    (2,258)
Total (loss) / gain recognized in other income / (expense), net $ (13,075) $ 3,418  $ (11,800)