Long-term debt and other financial liabilities (Details Narrative) - USD ($)
$ in Thousands |
6 Months Ended |
|
|
Jun. 30, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
| Long-term Debt, Gross |
$ 1,310,130
|
$ 1,380,648
|
|
| Cash and cash equivalents |
$ 161,148
|
117,192
|
$ 128,851
|
| Debt Instrument, Covenant Compliance |
The Company fulfilled its requirements in respect of the financial covenants of all of its loan agreements as at June 30, 2022.
|
|
|
| Minimum liquidity requirement [Member] |
|
|
|
| Cash and cash equivalents |
$ 129,528
|
$ 105,768
|
|
| Three Loan Agreements [Member] |
|
|
|
| Restricted Cash and Cash Equivalents |
$ 3,550
|
|
|
| Dimitris P, Spyros K and Uraga Princess [Member] |
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
semi-annual
|
|
|
| Line of Credit Facility, Initiation Date |
Mar. 16, 2022
|
|
|
| Debt Instrument, Maturity Date, Description |
five-year
|
|
|
| Debt Instrument, Face Amount |
$ 62,000
|
|
|
| Description of scope |
relating to the refinancing of the suezmax tankers, Dimitris P and Spyros K and the aframax tanker, Uraga Princess
|
|
|
| Drawn down date |
March 17, 2022
|
|
|
| Prepayment date |
March 17, 2022
|
|
|
| Drawn down amount |
$ 62,000
|
|
|
| Prepaid amount |
$ 47,730
|
|
|
| Number of repayment installments |
ten
|
|
|
| Debt Instrument, Periodic Payment |
$ 2,750
|
|
|
| Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid |
$ 34,500
|
|
|
| Brasil 2014 [Member] |
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
semi-annual
|
|
|
| Line of Credit Facility, Initiation Date |
Mar. 31, 2022
|
|
|
| Debt Instrument, Maturity Date, Description |
six-year
|
|
|
| Debt Instrument, Face Amount |
$ 67,500
|
|
|
| Description of scope |
relating to the refinancing of the DP2 shuttle tanker, Brasil 2014
|
|
|
| Drawn down date |
April 4, 2022
|
|
|
| Prepayment date |
April 4, 2022
|
|
|
| Drawn down amount |
$ 67,500
|
|
|
| Prepaid amount |
$ 54,117
|
|
|
| Number of repayment installments |
twelve
|
|
|
| Debt Instrument, Periodic Payment |
$ 4,500
|
|
|
| Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid |
$ 13,500
|
|
|
| Proteas [Member] |
|
|
|
| Prepayment date |
April 20, 2022
|
|
|
| Prepaid amount |
$ 12,695
|
|
|
| Euro [Member] |
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
semi-annual
|
|
|
| Line of Credit Facility, Initiation Date |
May 13, 2022
|
|
|
| Debt Instrument, Maturity Date, Description |
five-year
|
|
|
| Debt Instrument, Face Amount |
$ 25,200
|
|
|
| Description of scope |
relating to the refinancing of the suezmax tanker, Euro
|
|
|
| Drawn down date |
May 13, 2022
|
|
|
| Prepayment date |
May 16, 2022
|
|
|
| Drawn down amount |
$ 25,200
|
|
|
| Prepaid amount |
$ 21,683
|
|
|
| Number of repayment installments |
ten
|
|
|
| Debt Instrument, Periodic Payment |
$ 1,505
|
|
|
| Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid |
$ 10,150
|
|
|
| Inca [Member] |
|
|
|
| Prepayment date |
August 17, 2022
|
|
|
| Prepaid amount |
$ 3,301
|
|
|
| Rio 2016 [Member] |
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
semi-annual
|
|
|
| Line of Credit Facility, Initiation Date |
Sep. 05, 2022
|
|
|
| Debt Instrument, Maturity Date, Description |
six-year
|
|
|
| Debt Instrument, Face Amount |
$ 67,500
|
|
|
| Description of scope |
to the refinancing of the suezmax DP2 shuttle tanker, Rio 2016.
|
|
|
| Drawn down date |
September 7, 2022
|
|
|
| Prepayment date |
September 7, 2022
|
|
|
| Drawn down amount |
$ 67,500
|
|
|
| Prepaid amount |
$ 48,047
|
|
|
| Number of repayment installments |
twelve
|
|
|
| Debt Instrument, Periodic Payment |
$ 4,500
|
|
|
| Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid |
$ 13,500
|
|
|
| Hull 5081 and Hull 5082 [Member] |
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
semi-annual
|
|
|
| Line of Credit Facility, Initiation Date |
Sep. 15, 2022
|
|
|
| Debt Instrument, Maturity Date, Description |
eight-year
|
|
|
| Debt Instrument, Face Amount |
$ 118,400
|
|
|
| Description of scope |
to pre- and post- financing of the two aframax tankers under construction Hull 5081 and Hull 5082.
|
|
|
| Number of repayment installments |
sixteen
|
|
|
| Debt Instrument, Periodic Payment |
$ 1,650
|
|
|
| Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid |
$ 32,800
|
|
|
| Tenergy [Member] |
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
quarterly
|
|
|
| Description of scope |
for the acquisition of the LNG carrier Tenergy
|
|
|
| Prepayment date |
January 12, 2022
|
|
|
| Prepaid amount |
$ 27,750
|
|
|
| Number of repayment installments |
forty
|
|
|
| Debt Instrument, Periodic Payment |
$ 2,332
|
|
|
| Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid |
83,955
|
|
|
| Proceeds from Lines of Credit |
177,238
|
|
|
| All bank loans [Member] |
|
|
|
| Long-term Debt, Gross |
$ 1,310,130
|
|
|
| Debt Instrument, Payment Terms |
These bank loans are payable in U.S. Dollars in semi-annual installments, with balloon payments due at maturity between November 2022 and January 2032.
|
|
|
| Debt Instrument, Frequency of Periodic Payment |
semi-annual
|
|
|
| Debt Instrument, Description of Variable Rate Basis |
Interest rates on the outstanding loans as of June 30, 2022, are based on LIBOR plus a spread, except of two loan agreements based on SOFR
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