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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Loss for the period $ (789) $ (13,199)
Adjustments for:    
Depreciation 1,492 1,176
Depreciation of deferred dry-docking costs 1,115 856
Payment of deferred dry-docking costs (2,225) (493)
Provision for staff retirement indemnities (10) 3
Impairment loss 0 4,615
Loss on derivative financial instruments 65 1,868
Interest expense and finance costs 2,510 2,242
Interest income (3) (12)
Foreign exchange gains, net (53) 4
Share based payment 20 20
Trade receivables, net 142 (394)
Inventories 780 1,079
Prepayments and other assets 93 (320)
Insurance claims (336) 0
Trade accounts payable (1,372) (720)
Accrued liabilities and other payables 227 (694)
Deferred revenue 426 0
Net cash generated from / (used in) operating activities 2,082 (3,969)
Cash flows from investing activities:    
Vessel acquisition (27,000) 0
Improvements (83) 0
Advance for vessel acquisition (1,631) 0
Purchases of office furniture and equipment (14) 0
Interest received 3 12
Net cash (used in) / generated from investing activities (28,725) 12
Cash flows from financing activities:    
Proceeds from loans 34,250 0
Repayment of long-term debt (1,493) 0
Prepayment of long-term debt (35,507) (2,240)
Proceeds from issuance of share capital 89,580 24,207
Proceeds from exercise of Warrants 20 194
Transaction costs on issue of new common shares (401) (532)
Increase in restricted cash (1,675) (83)
Repayment of lease liability (80) 0
Payment of financing costs (545) 0
Interest paid (1,773) (1,728)
Net cash generated from financing activities 82,376 19,818
Net increase in cash and cash equivalents 55,733 15,861
Cash and cash equivalents at the beginning of the period 19,037 2,366
Cash and cash equivalents at the end of the period $ 74,770 $ 18,227