Long-Term Debt and Bonds (Tables)

6 Months Ended

Jun. 30, 2026

The amounts of long-term debt and bonds shown in the accompanying consolidated balance sheets are analyzed as follows:

	June 30, 2026			Current			Non-current			December 31, 2025			Current			Non-current

Nordea Bank secured term loan	$	10,834		$	2,032		$	8,802		$	12,500		$	3,333		$	9,167
Alpha Bank secured term loans		26,600			13,667			12,933			28,700			4,200			24,500
Huican sale and lease back financing		43,276			2,538			40,738			44,545			2,538			42,007
Kenzan Kaiun sale and lease back financing		41,647			2,603			39,044			42,938			2,603			40,335
Kowa Kaiun sale and lease back financing		43,760			2,500			41,260			-			-			-
less unamortized deferred financing costs		(1,891	)		(416	)		(1,475	)		(1,493	)		(283	)		(1,210	)
Total debt, net of deferred financing costs	$	164,226		$	22,924		$	141,302		$	127,190		$	12,391		$	114,799

	June 30, 2026			Current		Non-current			December 31, 2025			Current		Non-current

Bonds	$	150,000		$	-	$	150,000		$	100,000		$	-	$	100,000
less unamortized premiums and discounts		(1,054	)		-		(1,054	)		(3,000	)		-		(3,000	)
less unamortized deferred financing costs		(3,138	)		-		(3,138	)		(1,858	)		-		(1,858	)
Total bonds, net of unamortized premiums, discounts and deferred financing costs	$	145,808		$	-	$	145,808		$	95,142		$	-	$	95,142

Maturities of Debt Facilities

As at June 30, 2026, the maturities of the drawn portions of the debt facilities (bank loans, sale and lease back financing and the bond financing), as described above, are as follows:

	Principal Repayment
Year 1	$	25,073
Year 2		12,456
Year 3		12,450
Year 4		162,450
Year 5 and thereafter		103,688
Total	$	316,117