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Note 4 - Property and Equipment, Net | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4 — PROPERTY AND EQUIPMENT, NET Property and equipment, net are as follows:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
(In thousands) |  |  |  |  |  |  |  |
Vessels and improvements |  | $ | 799,652 |  |  | $ | 776,622 |
Furniture and equipment |  |  | 59,132 |  |  |  | 42,055 |
Land |  |  | 729 |  |  |  | - |
Buildings and improvements |  |  | 2,435 |  |  |  | - |
Leasehold improvements |  |  | 1,425 |  |  |  | 1,424 |
Total property and equipment, gross |  |  | 863,373 |  |  |  | 820,101 |
Less: Accumulated depreciation |  |  | (344,983 | ) |  |  | (294,099 | )
Property and equipment, net |  | $ | 518,390 |  |  | $ | 526,002 |
Total depreciation expense of the Company’s property and equipment for the years ended December 31, 2024, 2023 and 2022 was $50.5 million, $44.9 million and $41.0 million, respectively. For the year ended December 31, 2024, the Company had $33.5 million in capital expenditures, which primarily includes vessel improvement projects. For the year ended December 31, 2023, the Company had $30.0 million in capital expenditures, which primarily includes vessel improvement projects and digital investments.

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