v3.25.2
Transactions with Related Parties (Tables)
6 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions with Wholly-owned Subsidiaries The Company earns management fees and commissions from its wholly-owned subsidiaries, to which HMI provides pool management services, that are not controlled by HMI, but rather by the participants in the pools pursuant to the one vote-per-vessel contractual arrangements between HMI and the participants in the pools (the “Non-consolidated Pool Subsidiaries”). The amounts earned for the six-months ended June 30, 2025 and 2024 are included in “Trade revenues, related parties” in the accompanying unaudited interim condensed consolidated statements of operations and are analyzed as follows:

 

 June 30, 2025

Management Fees

Commissions

Blue Fin Pool

210,141

419,969

Sea Lion Pool

317,157

1,082,220

Dorado Pool

54,300

374,875

Seahorse Pool

-

15,974

Seadragon Pool

794,802

549,256

Total

1,376,400

2,442,294

 

June 30, 2024

Management Fees

Commissions

Blue Fin Pool

337,700

492,845

Sea Lion Pool

491,400

1,792,897

Dorado Pool

7,438

439,568

Seahorse Pool

-

17,075

Seadragon Pool

28,125

1,954,611

Total

864,663

4,696,996

Schedule Of Receivables From Non-Consolidated Pool Subsidiaries As of June 30, 2025, and December 31, 2024, the Company’s receivables from the Non-consolidated Pool subsidiaries consisted of:

 

June 30, 2025

December 31, 2024

Blue Fin Pool

1,638,782

2,457,095

SeaLion Pool

208,439

1,299,135

Seadragon Pool

3,043,131

2,962,896

Seawolf Pool

15,853

15,592

 

Dorado Pool

1,802,047

1,041,740

Star Pool

7,302

7,186

Marlin Pool

4,595

4,595

SeaHorse Pool

528,170

525,384

Total Receivables

7,248,319

8,313,623

Summary of Non-Consolidated Pool Subsidiaries Information

Revenues of the Non-consolidated Pool Subsidiaries, costs and expenses applicable to revenues of the Non-consolidated Pool Subsidiaries, net income of the Non-consolidated Pool Subsidiaries for the six-month period ended June 30, 2025 and 2024 and current and total assets of the Non-consolidated Pool subsidiaries, current and total liabilities of the Non-consolidated Pool subsidiaries as of June 30, 2025 and December 31, 2024 are presented below:

Six Month Period

Ended June 30, 2025

Six Month Period

Ended June 30, 2024

Revenues of the Non-consolidated Pool Subsidiaries

194,960,271

385,073,104

Costs and expenses of the Non-consolidated Pool Subsidiaries

88,214,133

144,193,662

Net income of the Non-consolidated Pool Subsidiaries

-

-

 June 30, 2025

December 31, 2024

Current and total assets of the Non-consolidated Pool Subsidiaries

76,945,934

114,193,010

Current and total liabilities of the Non-consolidated Pool Subsidiaries

76,945,734

114,192,810