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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income/(loss) $ 22,686 $ (16,623)
Adjustments to reconcile net income / (loss) to net cash (used in) / provided by operating activities:    
Depreciation 14,772 15,716
Amortization of deferred drydock expenditures 2,156 2,750
Share-based compensation 1,246 1,140
Loss on vessel held for sale 6,917 0
Amortization of deferred finance fees 803 1,401
Unrealized (gains) on derivatives (900) (80)
Foreign exchange (34) (44)
Profit from equity method investments (169) 0
Deferred drydock payments (760) (3,330)
Changes in operating assets and liabilities:    
Receivables (31,636) 1,175
Prepaid expenses and other assets (714) 65
Advances and deposits 1,256 (1,730)
Inventories (7,542) 817
Accounts payable (1,893) (1,114)
Accrued expenses and other liabilities 3,122 (713)
Deferred revenue (614) 976
Accrued interest on debt and finance leases 177 (89)
Net cash provided by operating activities 8,873 317
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of vessels 13,759 9,895
Payments for acquisition of vessels and vessel equipment (43) (1,057)
Advances for ballast water treatment systems (180) (158)
Payments for other non-current assets (46) (34)
Payments for equity investments (238) (4,998)
Net cash provided by investing activities 13,252 3,648
CASH FLOWS FROM FINANCING ACTIVITIES    
Prepayment of finance lease obligation (9,253) 0
Proceeds from long-term debt 9,811 0
Repayments of long-term debt (21,872) (68,512)
Proceeds from finance leases 2,880 49,000
Repayments of finance leases (28,922) (9,466)
Payments for deferred finance fees 0 (980)
Issuance of common stock 16,747 0
Issuance of preferred stock, net 0 23,047
Payment of preferred dividend (1,580) 0
Net cash (used in) financing activities (32,189) (6,911)
Net (decrease) in cash and cash equivalents (10,064) (2,946)
Cash and cash equivalents at the beginning of the year 55,449 58,365
Cash and cash equivalents at the end of the period 45,385 55,419
Cash paid during the year for:    
Cash paid during the period for interest in respect of debt 2,004 2,539
Cash paid during the period for interest in respect of finance leases 2,766 4,035
Cash paid during the period for operating lease liabilities 364 228
Cash paid during the period for income taxes 37 90
Non-cash investing activity: Investment in Element 1 by issuing 950,000 shares of common stock 0 5,320
Non-cash financing activity: Accrued preferred dividends 568 82
Non-cash financing activity: Receivable for net proceeds on issue of common stock $ 983 $ 0