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Debt (Tables)

9 Months Ended

Sep. 30, 2021

Debt

Schedule outstanding principal balances on each loan facility

​

​	​	​	​	​
​		As at
​		September 30, 2021		December 31, 2020
NIBC Bank Facility	​	—		4,625,000
Nordea/SEB Joint Bank Facility	​	58,711,533		88,503,292
Nordea/SEB Revolving Facility	​	28,878,310	​	39,237,241
ABN/CACIB Joint Bank Facility	​	52,785,708	​	57,124,104
ABN AMRO Revolving Facility	​	4,453,721		14,394,250
IYO Bank Facility	​	8,800,000	​	10,000,000
Total debt	​	153,629,272		213,883,887
Deferred finance fees	​	(2,081,965)		(3,372,923)
Net total debt	​	151,547,307		210,510,964
Current portion of long-term debt	​	15,834,489		23,506,236
Current portion of deferred finance fees	​	(757,497)		(1,049,840)
Total current portion of long-term debt	​	15,076,992		22,456,396
Non-current portion of long-term debt	​	136,470,315		188,054,568

​

Schedule of future minimum repayments under the loan facilities

​

​	​	​
​		As at
​	​	September 30, 2021
2021 (1)		3,958,622
2022		15,834,489
2023	​	20,288,211
2024		109,947,950
2025		3,600,000
​		153,629,272

(1)Three-month period ending December 31, 2021

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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