v3.25.2
Note 3 - Discontinued Operations - Components (Details) - USD ($)
$ in Thousands
4 Months Ended 6 Months Ended
May 06, 2025
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
CURRENT ASSETS, DISCONTINUED:        
Cash and cash equivalents       $ 47,754
Restricted cash       941
Margin deposits       45,221
Inventories       44,500
Fair value of derivatives       197
Insurance claims receivable       2,842
Prepayments and other assets       49,795
Total current assets of discontinued operations   $ 0   237,910
FIXED ASSETS, NET:        
Fixed assets of discontinued operations   0   671,844
NON-CURRENT ASSETS, DISCONTINUED:        
Deferred charges, net       19,119
Fair value of derivatives, non-current       147
Restricted cash, non-current       9,236
Operating leases, right-of-use assets       297,975
Total non-current assets of discontinued operations   0   329,137
CURRENT LIABILITIES, DISCONTINUED:        
Current portion of long-term debt, net of deferred financing costs       30,505
Operating lease liabilities, current portion       205,172
Accrued liabilities       11,213
Unearned revenue       22,911
Fair value of derivatives       14,465
Other current liabilities       3,905
Total current liabilities of discontinued operations   0   334,967
NON-CURRENT LIABILITIES, DISCONTINUED:        
Long-term debt, net of current portion and deferred financing costs       305,724
Operating lease liabilities, non-current portion       87,424
Fair value of derivatives, non-current portion       5,174
Total non-current liabilities of discontinued operations   0   398,322
REVENUES:        
Voyage revenue $ 327,402   $ 552,108  
EXPENSES:        
Voyage expenses (107,383)   (172,271)  
Charter-in hire expenses (166,506)   (308,557)  
Voyage expenses-related parties (3,765)   (2,203)  
Vessels’ operating expenses (27,165)   (41,372)  
General and administrative expenses (8,950)   (3,919)  
Management and agency fees-related parties (10,760)   (15,102)  
Amortization of dry-docking and special survey costs (2,337)   (2,984)  
Depreciation (14,044)   (17,980)  
Gain / (loss) on sale of vessels, net (4,669)   3,422  
Loss on vessel held for sale (1,579)   (2,308)  
Vessel impairment loss (179)   0  
Foreign exchange gains 219   46  
Operating loss (19,716)   (11,120)  
OTHER INCOME / (EXPENSES):        
Interest income 239   1,021  
Interest and finance costs (7,313)   (11,889)  
Other, net (47)   868  
Gain /(loss) on derivative instruments, net (710)   24,996  
Total other income / (expenses), net (7,831)   14,996  
Net income / (loss) from discontinued operations (27,547) $ (27,547) 3,876  
Nonrelated Party [Member]        
CURRENT ASSETS, DISCONTINUED:        
Accounts receivable, net       39,646
NON-CURRENT ASSETS, DISCONTINUED:        
Accounts receivable, net, non-current       1,610
CURRENT LIABILITIES, DISCONTINUED:        
Accounts payable       41,477
REVENUES:        
Voyage revenue 239,719   520,332  
Related Party [Member]        
CURRENT ASSETS, DISCONTINUED:        
Accounts receivable, net       7,014
NON-CURRENT ASSETS, DISCONTINUED:        
Accounts receivable, net, non-current       1,050
CURRENT LIABILITIES, DISCONTINUED:        
Accounts payable       $ 5,319
REVENUES:        
Voyage revenue $ 87,683   $ 31,776