XML 13 R3.htm IDEA: XBRL DOCUMENT v3.25.2
Consolidated Statements of Financial Position - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
NON-CURRENT ASSETS    
Vessels, net $ 236,925 $ 248,979
Advances for vessel purchase 15,052 15,051
Office furniture and equipment 91 101
Right of use asset 688 852
Restricted cash 2,000 2,770
Fair value of derivative financial instruments 0 181
Other non-current assets 10 10
Total non-current assets 254,766 267,944
CURRENT ASSETS    
Current portion of fair value of derivative financial instruments 334 442
Trade receivables, net 1,520 1,114
Inventories 1,385 1,226
Prepayments and other assets 2,266 2,373
Restricted cash 765 1,050
Cash and cash equivalents 48,327 46,837
Total current assets 54,597 53,042
TOTAL ASSETS 309,363 320,986
EQUITY    
Issued share capital 82 82
Share premium 284,406 284,406
Accumulated deficit (111,437) (108,087)
Total equity 173,051 176,401
NON-CURRENT LIABILITIES    
Long-term borrowings, net of current portion 54,931 59,270
Financial Liabilities, net of current portion 49,091 50,014
Provision for staff retirement indemnities 256 191
Lease liabilities 371 531
Total non-current liabilities 104,649 110,006
CURRENT LIABILITIES    
Current portion of long-term borrowings 6,323 6,946
Current portion of financial Liabilities 1,860 1,860
Sellers' Credit 19,000 19,000
Trade accounts payable 2,510 3,589
Accrued liabilities and other payables 1,380 2,156
Current portion of lease liabilities 338 332
Deferred revenue 252 696
Total current liabilities 31,663 34,579
TOTAL LIABILITIES 136,312 144,585
TOTAL EQUITY AND LIABILITIES $ 309,363 $ 320,986