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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 28,640 $ 126,071
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 24,308 22,414
Amortization of deferred drydock expenditures 3,799 2,692
Share-based compensation 1,908 3,596
Gain on vessel sold 0 (12,322)
Amortization of deferred finance fees 783 862
Loss on extinguishment of debt 469 0
Gain on extinguishment of finance leases 0 (1,432)
Unrealized losses on derivatives 0 26
Operating lease ROU - lease liability, net 260 88
Loss / (profit) from equity method investments 288 (19)
Deferred drydock payments (12,484) (5,796)
Changes in operating assets and liabilities:    
Receivables 7,298 (8,846)
Prepaid expenses and other assets 1,123 446
Advances and deposits 717 2,273
Inventories 1,304 983
Accounts payable (2,631) 5,234
Accrued expenses and other liabilities (521) (1,247)
Deferred revenue 173 2,445
Net cash provided by operating activities 55,434 137,468
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of vessels 0 26,829
Payments for acquisition of vessels and vessel equipment, including deposits (113,416) (58,056)
Advances for vessel equipment (5,366) 0
Payments for other non-current assets (257) (304)
Proceeds from equity investments 0 1,650
Net cash (used in) investing activities (119,039) (29,881)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from revolving facilities, net 152,493 68,385
Repayments of long term debt 0 (1,678)
Repayments on revolving facilities (78,796) (91,194)
Repayments of finance leases 0 (42,262)
Payment of common share dividends (8,116) (37,517)
Payment of preferred share dividends (1,907) (2,552)
Net cash provided by / (used in) financing activities 63,674 (106,818)
Net increase in cash and cash equivalents 69 769
Cash and cash equivalents at the beginning of the year 46,988 46,805
Cash and cash equivalents at the end of the period 47,057 47,574
Cash paid during the year for:    
Cash paid during the period for interest in respect of debt 2,763 3,842
Cash paid during the period for interest in respect of finance leases 0 1,500
Cash paid during the period for operating lease liabilities (offices) 618 489
Cash paid during the period for operating lease liabilities (time charter-in contracts) 9,135 10,888
Cash paid during the period for income taxes 159 90
Non-cash financing activity. Non cash conversion from term loan to revolving facility 0 44,100
Non-cash operating activity: ROU / lease liability increase in respect of time-charter extensions 678 7,327
Non-cash financing activity: Accrued preferred dividends 433 578
Non-cash investing activity. Movement in accruals and accounts payable during the period in respect of drydocks and scrubber systems $ (3,468) $ 194