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Interim Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
OPERATING REVENUES    
Time charter revenues (include related party revenues of $nil0 and $66,929 for each of the periods ended June 30, 2023 and 2022, respectively) $ 316,326 $ 284,667
Amortization of intangible liabilities-charter agreements (includes related party amortization of intangible liabilities-charter agreements of $nil0 and $5,385 for each of the periods ended June 30, 2023 and 2022, respectively) 5,045 23,420
Total Operating Revenues 321,371 308,087
OPERATING EXPENSES    
Vessel operating expenses (include related party vessel operating expenses of $8,901 and $8,609 for each of the periods ended June 30, 2023 and 2022, respectively) 86,169 80,886
Time charter and voyage expenses (include related party time charter and voyage expenses of $3,662 and $2,950 for each of the periods ended June 30, 2023 and 2022, respectively) 12,139 9,458
Depreciation and amortization 43,356 40,125
General and administrative expenses 9,500 10,292
Operating Income 170,207 167,326
NON-OPERATING INCOME/(EXPENSES)    
Interest income 4,394 515
Interest and other finance expenses (include acceleration of deferred financing costs of $108 and prepayment fees, acceleration of deferred financing costs and premium of $19,053 for each of the periods ended June 30, 2023 and 2022, respectively) (22,008) (48,742)
Other income, net 1,160 178
Fair value adjustment on derivative asset (1,368) 6,648
Total non-operating expenses (17,822) (41,401)
Income before income taxes 152,385 125,925
Income taxes (5) 0
Net Income 152,380 125,925
Earnings allocated to Series B Preferred Shares (4,768) (4,768)
Net Income available to Common Shareholders $ 147,612 $ 121,157
Common Class A [Member]    
Weighted average number of Class A common shares outstanding    
Basic 35,533,273 36,578,297
Diluted 36,206,309 37,288,826
Net Earnings per Class A common share    
Basic $ 4.15 $ 3.31
Diluted $ 4.08 $ 3.25