Transactions with Related Parties and Shareholders (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Related Party Transactions [Abstract] |
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| Summary of Accrued Recognized Interest Cost from Operations |
Payables to Assignee A, which mainly include the accrued recognized interest cost from the operations of the vessel and are analyzed as follows:
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Payable to Assignee A, related party |
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January 1, 2023 |
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- |
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Proceeds from assignee |
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779,019 |
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Interest cost |
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4,833 |
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December 31, 2023 |
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783,852 |
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Interest cost |
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77,117 |
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Repayments to assignee |
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(779,019 |
) |
Interest paid |
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(21,058 |
) |
December 31, 2024 |
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60,892 |
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3.Transactions with related parties and shareholders - continued Revenues, costs and expenses applicable to revenues, net income current and total assets, current and total liabilities of the Non-consolidated Pool subsidiaries as of and for the years ended December 31, 2024, 2023 and 2022 are analyzed as follows:
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December 31, 2024 |
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December 31, 2023 |
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December 31, 2022 |
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Revenues of the Non-consolidated Pool Subsidiaries |
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691,734,800 |
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877,449,952 |
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683,809,587 |
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Costs and expenses of the Non-consolidated Pool Subsidiaries |
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281,851,357 |
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328,587,308 |
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347,922,997 |
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Net income of the Non-consolidated Pool Subsidiaries |
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- |
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- |
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- |
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Current and total assets of the Non-consolidated Pool Subsidiaries |
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114,193,010 |
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194,146,719 |
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228,948,203 |
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Current and total liabilities of the Non-consolidated Pool Subsidiaries |
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114,192,810 |
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194,146,519 |
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228,948,103 |
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| Schedule of Related Party Transactions with Non-Consolidated Pool Subsidiaries |
The Company earns management fees and commissions from the Non-consolidated Pool Subsidiaries (Note 2). The amounts earned for the years ended December 31, 2024, 2023 and 2022 are included in “Trade revenues, related parties” in the accompanying consolidated statements of income and are analyzed as follows:
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December 31, 2024 |
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Management Fees |
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Commissions |
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Blue Fin Pool |
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593,352 |
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744,795 |
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SeaLion Pool |
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966,198 |
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2,825,367 |
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Dorado Pool |
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29,452 |
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768,779 |
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SeaHorse Pool |
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22,500 |
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17,075 |
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Seadragon Pool |
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134,100 |
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3,663,182 |
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Total |
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1,745,602 |
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8,019,198 |
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December 31, 2023 |
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Management Fees |
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Commissions |
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Blue Fin Pool |
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562,732 |
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1,612,632 |
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SeaLion Pool |
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1,080,585 |
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4,163,287 |
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Dorado Pool |
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73,000 |
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889,057 |
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SeaHorse Pool |
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160,772 |
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206,890 |
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Seadragon Pool |
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- |
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5,040,000 |
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Total |
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1,877,089 |
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11,911,866 |
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December 31, 2022 |
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Management Fees |
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Commissions |
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Blue Fin Pool |
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1,022,820 |
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1,318,765 |
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SeaLion Pool |
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1,074,411 |
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3,187,366 |
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Star Pool |
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- |
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13,288 |
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Dorado Pool |
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53,726 |
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412,254 |
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SeaHorse Pool |
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95,138 |
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138,644 |
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Seadragon Pool |
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- |
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3,131,188 |
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Total |
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2,246,095 |
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8,201,505 |
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| Schedule Of Receivables From Payables To Non-Consolidated Pool Subsidiaries |
As of December 31, 2024 and 2023, the Company had receivables from/ (payables to) the following Non-consolidated Pool subsidiaries:
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2024 |
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2023 |
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Blue Fin Pool |
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2,457,095 |
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747,149 |
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SeaLion Pool |
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1,299,135 |
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2,594,788 |
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Seadragon Pool |
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2,962,896 |
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1,196,675 |
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Seawolf Pool |
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15,592 |
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12,944 |
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Dorado Pool |
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1,041,740 |
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444,841 |
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Star Pool |
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7,186 |
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7,202 |
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Marlin Pool |
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4,595 |
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4,595 |
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SeaHorse Pool |
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525,384 |
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511,861 |
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Total Receivables |
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8,313,623 |
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5,520,055 |
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Sigma Pool |
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- |
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507,047 |
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Total Payables |
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- |
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507,047 |
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| Summary of Receivables/(Payables) from/(to) Related Parties |
The following table presents a summary of the receivables/(payables) from/(to) related parties:
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2024 |
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2023 |
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Non-consolidated pool subsidiaries |
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8,313,623 |
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5,520,055 |
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Syndication partner |
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- |
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5,261,008 |
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Total Receivables |
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8,313,623 |
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10,781,063 |
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Non-consolidated pool subsidiaries |
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- |
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507,047 |
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Total Payables |
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- |
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507,047 |
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