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Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 47,057 $ 46,988
Receivables, net of allowance for bad debts of $1.4 million (2024: $1.9 million) 53,570 60,871
Prepaid expenses and other assets 3,175 4,298
Advances and deposits 2,368 3,084
Inventories 10,005 11,308
Total current assets 116,175 126,549
Non-current assets    
Investments and other assets, net 5,038 5,236
Vessels and vessel equipment, net 643,122 545,594
Deferred drydock expenditures, net 26,406 14,252
Advances for vessel equipment 1,958 4,845
Deferred finance fees, net 5,144 2,746
Operating lease, right-of-use asset 1,969 5,577
Total non-current assets 683,637 578,250
TOTAL ASSETS 799,812 704,799
Current liabilities    
Accounts payable 5,223 6,070
Accrued expenses and other liabilities 19,477 18,313
Deferred revenue 655 482
Current portion of operating lease obligations 669 4,965
Total current liabilities 26,024 29,830
Non-current liabilities    
Non-current portion of long-term debt 116,143 38,796
Non-current portion of operating lease obligations 1,424 476
Other non-current liabilities 273 273
Total non-current liabilities 117,840 39,545
TOTAL LIABILITIES 143,864 69,375
Redeemable Preferred Stock    
Cumulative Series A 8.5% redeemable preferred stock 27,782 27,782
Stockholders' equity    
Common stock 443 440
Additional paid in capital 477,718 475,812
Treasury stock (33,524) (33,524)
Retained earnings 183,529 164,914
Total stockholders' equity 628,166 607,642
Total redeemable preferred stock and stockholders' equity 655,948 635,424
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY $ 799,812 $ 704,799