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Interest and Finance Costs, Net

12 Months Ended

Dec. 31, 2020

12. Interest and Finance Costs, net:

The Company accrues for the cost of environmental and other liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. As of December 31, 2020 and as of the date of the issuance of these consolidated financial statements, management is not aware of any other claims or contingent liabilities, which should be disclosed or for which a provision should be established in the accompanying consolidated financial statements. The Company is covered for liabilities associated with the individual vessels’ actions to the maximum limits as provided by Protection and Indemnity (P&I) Clubs, members of the International Group of P&I Clubs.

The amounts in the accompanying consolidated statements of comprehensive loss are analyzed as follows:

	For the years ended December 31,
	2018		2019		2020
Interest on long-term debt (Note 7)	$	3,835	$	5,122	$	4,184
Interest on promissory note (Note 3)		213		395		452
Long-term debt prepayment fees		56		—		—
Amortization and write-off of financing costs		386		258		328
Total	$	4,490	$	5,775	$	4,964