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Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Profit for the year $ 118,986 $ 5,726 $ 56,859
Adjustments for:      
Depreciation 87,490 85,493 83,058
Impairment loss on vessels 32,471 103,977 23,923
Loss/(gain) on disposal of vessels (171) 630  
Financial costs 47,639 37,297 50,987
Financial income (2,363) (43) (295)
Loss/(gain) on derivatives (excluding realized loss on forward foreign exchange contracts held for trading) (9,646) (2,496) 14,868
Share-based compensation 760 378 1,908
Adjusted profit 275,166 230,962 231,308
(Increase)/decrease in trade and other receivables 361 5,109 (9,150)
Decrease in inventories 97 45 317
Change in related parties, net 1,459 (3,330) (1,971)
(Increase)/decrease in prepayments and other current assets (1,959) 978 (814)
(Increase)/decrease in other non-current assets (111) 142 (58)
Decrease in other non-current liabilities (86) (482) (281)
Decrease in trade accounts payable (366) (2,403) (1,807)
Increase in other payables and accruals 3,183 2,365 808
Net cash provided by operating activities 277,744 233,386 218,352
Cash flows from investing activities:      
Proceeds from sale of vessel and sale and lease-back, net 101,981 117,569  
Payments for tangible fixed asset additions (2,529) (19,443) (23,618)
Payments for right-of-use assets (16)    
Financial income received 1,974 43 326
Purchase of short-term cash deposits (50,000) (2,500)  
Maturity of short-term cash deposits 25,000 2,500  
Net cash (used in)/provided by investing activities 76,410 98,169 (23,292)
Cash flows from financing activities:      
Borrowings drawdowns     479,984
Borrowings repayments (168,585) (205,179) (540,701)
Principal elements of lease payments (12,242) (2,217) (540)
Interest paid (43,051) (42,239) (51,457)
Payments of cash collateral for interest rate swaps     (16,730)
Release of cash collateral for interest rate swaps   280 16,450
Payment of loan issuance costs (21)   (7,362)
Proceeds from entering into interest rate swaps     16,056
Payments for termination of interest rate swaps     (13,210)
Proceeds from public offerings of common units and issuances of general partner units (net of underwriting discounts and commissions) 16 10,205  
Repurchases of common and preference units (49,247) (18,388) (996)
Payment of offering costs (20) (346) (146)
Distributions paid (including common and preference) (29,101) (31,877) (69,556)
Net cash used in financing activities (302,251) (289,761) (188,208)
Effects of exchange rate changes on cash and cash equivalents 689    
Increase in cash and cash equivalents 52,592 41,794 6,852
Cash and cash equivalents, beginning of the year 145,530 103,736 96,884
Cash and cash equivalents, end of the year $ 198,122 $ 145,530 $ 103,736