v3.25.2
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income for the period $ 36,447 $ 55,059
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 37,541 37,455
Extinguishment of long-term debt 1,630 0
Amortization of debt issuance costs 1,219 1,224
Equity settled share-based payments 76 721
Foreign exchange (gain)/loss (500) 398
Change in fair value of derivative instruments 16,672 2,616
Drydocking expenditure (13,504) (10,103)
Other 13 (198)
Changes in operating assets and liabilities, net:    
Inventory 19 140
Other current assets (20,257) (12,847)
Other non-current assets (3,487) 0
Receivables due from related parties 171 230
Payables due to related parties 303 87
Accounts payable 463 (750)
Other current liabilities 6,769 8,318
Other non-current liabilities 3,493 0
Net cash provided by operating activities 67,069 82,350
Investing activities    
Purchase of other fixed assets 0 0
Net cash used in investing activities 0 0
Financing activities    
Repayment of long-term debt (54,288) (52,961)
Proceeds from revolving credit facility 847,350 800,000
Repayment of revolving credit facility (847,350) (800,000)
Prepayment of long-term debt (129,613) 0
Proceeds from long-term debt 175,000 0
Extinguishment costs paid on long-term debt (648) 0
Proceeds from termination of derivative instruments 0 10,355
Financing costs (1,352) (12)
Net proceeds from issuance of treasury shares 0 884
Dividends paid (81,132) (80,705)
Net cash (used in)/provided by financing activities (92,033) (122,439)
Effect of exchange rate changes on cash 498 (200)
Net (decrease)/increase in cash, cash equivalents and restricted cash (24,466) (40,289)
Cash, cash equivalents and restricted cash at the beginning of the period 437,203 410,544
Cash, cash equivalents and restricted cash at the end of the period 412,737 370,255
Supplemental Information    
Interest paid, net of amounts capitalized (44,729) (51,939)
Income tax paid $ (20) $ (86)