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Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 47,574 $ 46,805
Receivables, net of allowance for bad debts of $2.2 million (2023: $1.6 million) 65,079 56,234
Prepaid expenses and other assets 3,901 4,348
Advances and deposits 4,635 6,833
Inventories 11,574 12,558
Total current assets 132,763 126,778
Non-current assets    
Investments and other assets, net 9,690 11,186
Vessels and vessel equipment, net 550,416 524,044
Deferred drydock expenditures, net 14,512 12,022
Advances for ballast water treatment and scrubber systems 4,840 9,587
Deferred finance fees, net 3,003 2,835
Operating lease, right-of-use asset 7,589 4,499
Total non-current assets 590,050 564,173
TOTAL ASSETS 722,813 690,951
Current liabilities    
Accounts payable 7,251 2,016
Accrued expenses and other liabilities 17,763 18,265
Deferred revenue 2,792 347
Accrued interest on debt and finance leases 0 939
Current portion of long-term debt 2,517 6,436
Current portion of finance lease obligations 0 2,029
Current portion of operating lease obligations 6,860 3,807
Total current liabilities 37,183 33,839
Non-current liabilities    
Non-current portion of long-term debt 20,000 39,590
Non-current portion of finance lease obligations 0 41,614
Non-current portion of operating lease obligations 635 510
Other non-current liabilities 954 954
Total non-current liabilities 21,589 82,668
TOTAL LIABILITIES 58,772 116,507
Redeemable Preferred Stock    
Cumulative Series A 8.5% redeemable preferred stock 37,043 37,043
Stockholders' equity    
Common stock 440 433
Additional paid in capital 474,805 471,216
Treasury stock (15,636) (15,636)
Retained earnings 167,389 81,388
Total stockholders' equity 626,998 537,401
Total redeemable preferred stock and stockholders' equity 664,041 574,444
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY $ 722,813 $ 690,951