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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 126,071 $ 89,799
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 22,414 20,683
Amortization of deferred drydock expenditures 2,692 2,635
Share-based compensation 3,596 2,401
Gain on vessel sold (12,322) 0
Amortization of deferred finance fees 862 913
Gain on extinguishment (1,432) 0
Unrealized losses on derivatives 26 31
Operating lease ROU - lease liability, net 88 12
(Profit)/loss from equity method investments (19) 730
Deferred drydock payments (5,796) (5,654)
Changes in operating assets and liabilities:    
Receivables (8,846) 29,052
Prepaid expenses and other assets 446 (541)
Advances and deposits 2,273 357
Inventories 983 823
Accounts payable 5,234 (153)
Accrued expenses and other liabilities (308) (313)
Deferred revenue 2,445 391
Accrued interest (939) (300)
Net cash provided by operating activities 137,468 140,866
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of vessels 26,829 0
Payments for acquisition of vessels and vessel equipment, including deposits (58,056) (12,079)
Advances for ballast water treatment and scrubber systems 0 (5,353)
Payments for other non-current assets (304) (69)
Proceeds for equity investments 1,650  
Payments for equity investments   (1,142)
Net cash (used in) investing activities (29,881) (18,643)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from revolving facilities 68,585 0
Repayments of long-term debt (1,678) (77,480)
Repayments on revolving facilities (91,194) 0
Repayments of finance leases (42,262) (1,463)
Payments for deferred finance fees (200) 0
Payment of common share dividends (37,517) (40,546)
Net cash (used in) financing activities (106,818) (122,032)
Payment of preferred share dividends (2,552) (2,543)
Net increase in cash and cash equivalents 769 191
Cash and cash equivalents at the beginning of the year 46,805 50,569
Cash and cash equivalents at the end of the period 47,574 50,760
Cash paid during the year for:    
Cash paid during the period for interest in respect of debt 3,842 6,858
Cash paid during the period for interest in respect of finance leases 1,500 2,796
Cash paid during the period for operating lease liabilities (offices) 489 625
Cash paid during the period for operating lease liabilities (time charter-in contracts) 10,888 10,145
Cash paid during the period for income taxes 90 368
Non-cash financing activity. Non cash conversion from term loan to revolving facility 44,100 0
Non-cash operating activity: ROU / lease liability increase in respect of time-charter extensions 7,327 0
Non-cash financing activity: Accrued preferred dividends 578 578
Non-cash investing activity. Accruals during the period in respect of ballast water treatment systems and scrubber systems $ 194 $ (312)