v3.26.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING REVENUES      
Time charter revenue $ 752,965 $ 705,529 $ 666,715
Amortization of intangible liabilities-charter agreements 13,486 5,526 8,080
Total operating revenues 766,451 711,055 674,795
OPERATING EXPENSES:      
Vessel operating expenses (include related party vessels operating expenses of $23,817, $21,804 and $19,086 for each of the years ended December 31, 2025, 2024 and 2023, respectively) 208,426 191,257 179,221
Time charter and voyages expenses (include related party time charter and voyage expenses of $8,689, $8,610 and $7,995 for each of the years ended December 31, 2025, 2024 and 2023, respectively) 25,134 23,536 23,582
Depreciation and amortization 121,961 99,991 91,727
Impairment of vessels 0 0 18,830
General and administrative expenses 22,080 17,132 18,217
Gain on sale of vessels (46,272) 0 0
Operating Income 435,122 379,139 343,218
NON-OPERATING INCOME/(EXPENSES)      
Interest income 19,192 16,735 9,777
Interest and other finance expenses (include $875, $3,627 and $108 expenses relating to prepayment fees and acceleration of deferred financing costs, if any, for each of the years ended December 31, 2025, 2024 and 2023, respectively) (38,966) (40,676) (44,824)
Other income, net 6,059 3,601 2,149
Fair value adjustment on derivative asset (4,952) (5,170) (5,372)
Total non-operating expenses (18,667) (25,510) (38,270)
Income before income taxes 416,455 353,629 304,948
Income taxes 0 (1) (448)
Net Income 416,455 353,628 304,500
Earnings allocated to Series B Preferred Shares (9,536) (9,536) (9,536)
Net Income available to Common Shareholders, Basic 406,919 344,092 294,964
Net Income available to Common Shareholders, Diluted $ 406,919 $ 344,092 $ 294,964
Common Class A [Member]      
Weighted average number of Class A common shares outstanding      
Basic 35,708,122 35,316,495 35,405,458
Diluted 35,962,136 35,577,956 35,928,922
Net Earnings per Class A common share      
Basic $ 11.40 $ 9.74 $ 8.33
Diluted $ 11.32 $ 9.67 $ 8.21