NOTE 11 – INTEREST EXPENSE AND FINANCE COST, NET Interest expense and finance cost, net for the years ended December 31, 2025, 2024 and 2023 consisted of the following:
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Year Ended December 31, 2025 |
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Year Ended December 31, 2024 |
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Year Ended December 31, 2023 |
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Interest expense incurred on credit facilities and financial liabilities |
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$ |
113,076 |
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$ |
110,830 |
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$ |
110,818 |
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Interest expense incurred on finance lease liabilities |
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21,611 |
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28,602 |
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30,313 |
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Interest expense incurred on senior unsecured bonds |
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3,346 |
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— |
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— |
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Interest expense capitalized related to deposits for vessel acquisitions |
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(18,028 |
) |
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(23,209 |
) |
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(19,457 |
) |
Amortization and write-off of deferred finance costs |
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10,705 |
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7,841 |
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7,188 |
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Discount effect of long-term assets and other finance costs |
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4,072 |
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465 |
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4,780 |
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Total interest expense and finance cost, net |
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$ |
134,782 |
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$ |
124,529 |
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$ |
133,642 |
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Interest expense incurred on deposits for vessel acquisitions was initially capitalized under the caption “Deposits for vessel acquisitions” in the Consolidated Balance Sheets.
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