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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Loss for the year $ (36,351) $ (3,568) $ (6,475)
Adjustments for:      
Depreciation 4,721 4,601 4,854
Depreciation of deferred dry-docking costs 1,704 1,166 862
Payment of deferred dry-docking costs (861) (1,204) (412)
Provision for staff retirement indemnities (61) 5 4
Impairment loss 29,902 0 0
(Gain)/Loss on derivative financial instruments (1,950) 131 0
Interest expense and finance costs 4,703 2,056 2,221
Interest income (47) 0 (3)
Foreign exchange gains, net (11) (81) 181
Share based payment 40 50 30
Trade accounts receivable 337 (400) 66
Inventories (895) 11 (145)
Prepayments and other assets 18 255 591
Trade accounts payable (1,013) 1,303 (499)
Accrued liabilities and other payables 63 (258) (726)
Deferred revenue (86) (216) 82
Net cash generated from operating activities 213 3,851 631
Cash flows from investing activities:      
Purchase of vessel equipment (54) (26) (245)
Purchases of office furniture and equipment (13) (100) (21)
Interest received 47 0 3
Net cash used in investing activities (20) (126) (263)
Cash flows from financing activities:      
Proceeds from loans 43,700 15,700 280
Repayment of long-term debt (1,830) (19,497) (4,399)
Prepayment of long-term debt (33,833) 0 0
Proceeds from issuance of share capital 0 600 9,653
Increase in restricted cash (1,085) (1,140) 0
Payment of financing costs (880) (203) 0
Payment of lease liability - principal (30) 0 0
Interest paid (3,915) (1,895) (3,309)
Net cash generated from/(used in) financing activities 2,127 (6,435) 2,225
Net increase/(decrease) in cash and cash equivalents 2,320 (2,710) 2,593
Cash and cash equivalents at the beginning of the year 46 2,756 163
Cash and cash equivalents at the end of the year $ 2,366 $ 46 $ 2,756