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Long-Term Debt and Financial Liabilities, net | 6 Months Ended
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Jun. 30, 2025
Notes and other explanatory information [abstract] |
Long-Term Debt and Financial Liabilities, net | 8. Long-Term Debt and Financial Liabilities, net Long-term debt (a,b) and financial liabilities (c,d) in the condensed consolidated statement of financial position are analysed as follows: Long-Term Debt, net - Consolidated statement of financial position
| Borrowers / Lenders |  | Principal |  | Deferred finance costs |  | Modification of Loan |  | Accrued Interest |  | Amortized cost
(a) | Serena Maritime Limited, Salaminia Maritime Limited, Talisman Maritime Limited and Argo Maritime Limited. / First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) |  | 39,605 |  | (279) |  | (116) |  | 391 |  | 39,601
(b) | Calypso Shipholding S.A. / Marguerite Maritime S.A. |  | 21,820 |  | (296) |  | — |  | 129 |  | 21,653
| Total Long-term debt at June 30, 2025 |  | 61,425 |  | (575) |  | (116) |  | 520 |  | 61,254
| Less: Current Portion |  | (6,164) |  | 245 |  | 116 |  | (520) |  | (6,323)
| Long-Term Portion |  | 55,261 |  | (330) |  | — |  | — |  | 54,931
| Total Long-term debt at December 31, 2024 |  | 66,540 |  | (719) |  | (194) |  | 589 |  | 66,216
| Less: Current Portion |  | (6,771) |  | 271 |  | 143 |  | (589) |  | (6,946)
| Long-Term Portion |  | 59,769 |  | (448) |  | (51) |  | — |  | 59,270
(c) | Daxos Maritime Limited / SK Shipholding S.A. |  | 26,998 |  | (301) |  | — |  | — |  | 26,697
(d) | Paralus Shipholding S.A. / Shankyo Shoji Co. Ltd. and Greatsail Shipping S.A. |  | 24,522 |  | (268) |  | — |  | — |  | 24,254
| Total Financial liabilities at June 30, 2025 |  | 51,520 |  | (569) |  | — |  | — |  | 50,951
| Less: Current Portion |  | (1,917) |  | 57 |  | — |  | — |  | (1,860)
| Long-Term Portion |  | 49,603 |  | (512) |  | — |  | — |  | 49,091
| Total Financial liabilities at December 31, 2024 |  | 52,471 |  | (597) |  | — |  | — |  | 51,874
| Less: Current Portion |  | (1,916) |  | 56 |  | — |  | — |  | (1,860)
| Long-Term Portion |  | 50,555 |  | (541) |  | — |  | — |  | 50,014
Details of the Company’s credit facilities are discussed in Note 11 of the Company’s consolidated financial statements for the year ended December 31, 2024, included in the 2024 Annual Report. As at June 30, 2025, the Company was in compliance with the loan covenants of the agreement with the lenders. During the period ended June 30, 2025 the Company had the following developments: (a) On February 4, 2025, the Company, through a wholly owned subsidiary, entered into an agreement to sell the 2007-built River Globe. On February 28, 2025 the Company prepaid the total remaining amount of $1,879 of the loan of Devocean Maritime Ltd. (the owning company of the vessel River Globe) in order to be able to conclude the sale and delivery of the vessel to the new owners which took place on March 17, 2025. The contractual annual principal payments relating to the First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) loan facility, the Marguerite Loan Facility, the SK Shipholding S.A. sale and bareboat back arrangement and the Shankyo Shoji Co. Ltd. and Greatsail Shipping S.A. sale and bareboat back arrangement to be made subsequent to June 30, 2025, were as follows: 8. Long-term Debt and Finance Liabilities, net (continued) Long-Term Debt, net - Annual loan principal payments
June 30, |  | First Citizens Bank & Trust Company (formerly known as CIT Bank N.A.) |  | Marguerite Maritime S.A. |  | SK Shipholding S.A. |  | Shankyo Shoji Co. Ltd. and Greatsail Shipping S.A. |  | Total
2026 |  | 20,105 |  | 1,180 |  | 1,095 |  | 821 |  | 23,201
2027 |  | 2,000 |  | 1,180 |  | 1,095 |  | 821 |  | 5,096
2028 |  | 17,500 |  | 1,180 |  | 1,162 |  | 885 |  | 20,727
2029 |  | — |  | 18,280 |  | 1,168 |  | 931 |  | 20,379
2030 and thereafter |  | — |  | — |  | 22,478 |  | 21,064 |  | 43,542
Total |  | 39,605 |  | 21,820 |  | 26,998 |  | 24,522 |  | 112,945

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