Long-Term Debt (Details Narrative)
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1 Months Ended |
3 Months Ended |
4 Months Ended |
5 Months Ended |
7 Months Ended |
8 Months Ended |
9 Months Ended |
10 Months Ended |
11 Months Ended |
12 Months Ended |
19 Months Ended |
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Feb. 10, 2020
USD ($)
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Apr. 03, 2025
USD ($)
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Mar. 28, 2025
USD ($)
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Mar. 26, 2025
USD ($)
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Mar. 23, 2023
USD ($)
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Apr. 30, 2021
USD ($)
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May 31, 2025 |
May 23, 2025 |
May 31, 2021
USD ($)
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Aug. 12, 2024
USD ($)
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Aug. 09, 2024
USD ($)
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Aug. 07, 2024
USD ($)
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Jul. 31, 2021
USD ($)
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Sep. 12, 2024
USD ($)
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Sep. 11, 2024
USD ($)
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Sep. 10, 2024
USD ($)
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Sep. 05, 2024
USD ($)
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Aug. 27, 2024
USD ($)
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Oct. 13, 2021
USD ($)
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Sep. 30, 2021
USD ($)
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Sep. 24, 2019
USD ($)
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Oct. 31, 2025 |
Nov. 20, 2024 |
Dec. 31, 2025
USD ($)
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Dec. 31, 2024
USD ($)
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Dec. 31, 2023
USD ($)
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Jul. 31, 2026 |
Mar. 31, 2025
USD ($)
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Dec. 23, 2024
USD ($)
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Aug. 26, 2021
USD ($)
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May 20, 2021
USD ($)
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May 12, 2021
USD ($)
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| Line of Credit Facility [Line Items] |
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| Interest Rate Description |
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1-month Compounded SOFR
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| Basis Spread on Variable Rate |
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0.64%
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| Repayments of Debt |
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$ 70,393,000
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$ 292,010,000
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$ (0)
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| Fees and related costs deferred |
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2,185,000
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3,120,000
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| Amortization of Debt Issuance Costs |
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$ 3,660,000
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6,828,000
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$ 5,526,000
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| Covenant Description |
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Amounts
drawn under the facilities listed above are secured by first priority mortgages on certain of the Company’s vessels and other collateral.
The credit facilities contain a number of restrictive covenants that limit the Company from, among other things: incurring or guaranteeing
indebtedness; charging, pledging or encumbering the vessels; and changing the flag, class, management or ownership of the vessel owning
entities. The credit facilities also require the vessels to comply with the ISM Code and ISPS Code and to maintain valid safety management
certificates and documents of compliance at all times. Additionally, specific credit facilities require compliance with a number of financial
covenants including asset cover ratios and minimum liquidity and corporate guarantor requirements. Among other events, it will be an
event of default under the credit facilities if the financial covenants are not complied with or remedied
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| Covenant Compliance |
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As of December 31, 2025, and
December 31, 2024, the Company was in compliance with its debt covenants
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| Four Sale and Leaseback agreements ($44.5 Million each) - Minsheng Financial Leasing [Member] |
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| Line of Credit Facility [Line Items] |
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| Frequency of payments |
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quarterly
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| Interest Rate Description |
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SOFR
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| Basis Spread on Variable Rate |
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2.50%
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| Outstanding amount |
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$ 166,788,000
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| Number of Repayment Installments |
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40
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| Quarterly Rental Payments |
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$ 862,500
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| Purchase Obligation |
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$ 10,000,000
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| $120.0 Million - Sale and Leaseback agreements - CMBFL Four Vessels [Member] |
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| Line of Credit Facility [Line Items] |
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| Interest Rate Description |
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SOFR
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| Basis Spread on Variable Rate |
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2.75%
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3.25%
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| Description of Scope |
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to
finance the acquisition of the Four Vessels (the “CMBFL Sale and Leaseback Agreement”)
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| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
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$ 30,000,000
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$ 90,000,000
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| Number of sale and leaseback agreements |
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4
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| Outstanding amount |
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$ 37,546,000
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$ 30,000,000
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| Purchase Obligation |
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$ 7,000,000
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| Sale Leaseback Transaction, Date |
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August
26, 2021
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| $54.0 Million Sale and Leaseback agreement - CMBFL [Member] |
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| Line of Credit Facility [Line Items] |
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| Interest Rate Description |
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SOFR
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| Basis Spread on Variable Rate |
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3.25%
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| Description of Scope |
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for
which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness
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| Repayments of Debt |
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$ 33,345,000
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| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
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$ 54,000,000
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| Outstanding amount |
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$ 0
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$ 54,000,000
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| Purchase Obligation |
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$ 19,980,000
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| Maturity Date |
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May
2028
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| Sale Leaseback Transaction, Date |
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May
20, 2021
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| Property, Plant and Equipment, Additions |
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75,000,000
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| Advance Hire |
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21,000,000
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| $14.7 Million Sale and Leaseback agreement - Neptune Maritime Leasing [Member] |
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| Line of Credit Facility [Line Items] |
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| Interest Rate Description |
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SOFR
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| Basis Spread on Variable Rate |
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4.64%
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| Description of Scope |
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to
finance the acquisition of GSL Violetta delivered in April 2021
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| Repayments of Debt |
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$ 4,414,000
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| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
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14,735,000
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| Outstanding amount |
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$ 0
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$ 14,735,000
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| Purchase Obligation |
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$ 950,000
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| Maturity Date |
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February 2026
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| Sale Leaseback Transaction, Date |
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May
12, 2021
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| GSL Amstel [Member] |
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| Line of Credit Facility [Line Items] |
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| Collateral description |
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the vessel was released as collateral under the
Company’s $140,000 loan facility with Credit Agricole Corporate and Investment Bank, Hamburg Commercial Bank AG, E.Sun
Commercial Bank, Ltd, CTBC Bank Co. Ltd. and Taishin International Bank
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the vessel was
released as collateral
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| Bremerhaven Express [Member] |
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| Line of Credit Facility [Line Items] |
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| Property, Plant and Equipment, Additions |
[1] |
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68,500,000
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| Bremerhaven Express [Member] | Four Sale and Leaseback agreements ($44.5 Million each) - Minsheng Financial Leasing [Member] |
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| Line of Credit Facility [Line Items] |
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| Maturity Date |
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December 2034
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| Istanbul Express, Sydney Express and Czech [Member] | Four Sale and Leaseback agreements ($44.5 Million each) - Minsheng Financial Leasing [Member] |
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| Line of Credit Facility [Line Items] |
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| Maturity Date |
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|
|
January 2035
|
|
|
|
|
|
|
|
|
| Three Out Of Four CMBFL Vessels [Member] | $120.0 Million - Sale and Leaseback agreements - CMBFL Four Vessels [Member] |
|
|
|
|
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|
|
|
|
|
|
|
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|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
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|
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|
| Maturity Date |
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|
September
2027
|
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|
|
| Fourth CMBFL Vessels [Member] | $120.0 Million - Sale and Leaseback agreements - CMBFL Four Vessels [Member] |
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|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
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|
|
|
|
|
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|
|
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|
|
| Maturity Date |
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|
October
2027
|
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|
|
|
|
| 2027 Secured Notes [Member] |
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|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
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|
|
|
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|
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|
|
|
| Issuance date |
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|
Jun. 16, 2022
|
|
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|
|
|
| Frequency of payments |
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|
|
An
amount equal to 15% per annum of the original principal balance of each Note is payable in equal quarterly installments on the 15th day
of each of January, April, July, and October starting October 15, 2022, and the remaining unpaid principal balance shall be due and payable
on the maturity date of July 15, 2027
|
|
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|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.69%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
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|
|
for
the repayment of certain of the Company’s then-outstanding indebtedness and for general corporate purposes
|
|
|
|
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|
|
| Repurchased face amount |
|
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|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
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|
|
$ 350,000,000
|
|
|
|
|
|
|
|
|
| Description of Variable Rate Basis |
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
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|
|
|
interpolated
interest rate of 2.84% plus a margin of 2.85% per annum
|
|
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|
|
| Collateral |
|
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|
|
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|
20
|
|
|
|
|
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|
|
|
| Numbers of vessels released as collateral |
|
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|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
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|
|
3
|
|
|
|
|
|
|
|
|
| Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 179,375,000
|
|
|
|
|
|
|
|
|
| Dimitris Y [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
|
|
|
| Collateral description |
|
|
|
|
|
|
|
July
28, 2025, and was delivered to the new owners on October 13, 2025
|
|
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|
|
|
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|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
| UBS Credit Facility (a) [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fees and related costs deferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 850,000
|
|
|
|
|
|
|
|
|
| Four Sale and Leaseback agreements ($44.5 Million each) - Minsheng Financial Leasing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fees and related costs deferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
495,000
|
|
|
|
|
|
|
|
| Two Sale And Leaseback Agreement December 2024 [Member] | Four Sale and Leaseback agreements ($44.5 Million each) - Minsheng Financial Leasing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to
finance the acquisition of two of the newly acquired high-reefer ECO 9,019 TEU vessels, Bremerhaven Express, having closed in
December 2024 and the other, Czech, in January 2025
|
|
|
|
|
|
|
|
|
| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 44,500,000
|
|
|
|
|
|
|
|
|
| Number of sale and leaseback agreements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
| Outstanding amount |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 44,500,000
|
|
|
|
| Two Sale And Leaseback Agreement January 2025 [Member] | Four Sale and Leaseback agreements ($44.5 Million each) - Minsheng Financial Leasing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to
finance the acquisition of the two high-reefer ECO 9,019 TEU Vessels
|
|
|
|
|
|
|
|
|
| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 178,000,000
|
|
|
|
|
|
|
|
|
| Number of sale and leaseback agreements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
| Outstanding amount |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 44,500,000
|
|
|
|
|
| First Twelve Quarterly Installments [Member] | $120.0 Million - Sale and Leaseback agreements - CMBFL Four Vessels [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Number of Repayment Installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12
|
|
|
|
|
|
|
|
|
| Quarterly Rental Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,587,500
|
|
|
|
|
|
|
|
|
| Next Twelve Quarterly Installments [Member] | $120.0 Million - Sale and Leaseback agreements - CMBFL Four Vessels [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Number of Repayment Installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12
|
|
|
|
|
|
|
|
|
| Quarterly Rental Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 329,200
|
|
|
|
|
|
|
|
|
| Eight Installments [Member] | $54.0 Million Sale and Leaseback agreement - CMBFL [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Number of Repayment Installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
|
|
|
|
|
|
|
| Quarterly Rental Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,025,000
|
|
|
|
|
|
|
|
|
| Twenty Installments [Member] | $54.0 Million Sale and Leaseback agreement - CMBFL [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Number of Repayment Installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
|
|
|
|
|
|
| Quarterly Rental Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 891,000
|
|
|
|
|
|
|
|
|
| Fifteen Installments [Member] | $14.7 Million Sale and Leaseback agreement - Neptune Maritime Leasing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Number of Repayment Installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15
|
|
|
|
|
|
|
|
|
| Quarterly Rental Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 793,870
|
|
|
|
|
|
|
|
|
| Four Installments [Member] | $14.7 Million Sale and Leaseback agreement - Neptune Maritime Leasing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Number of Repayment Installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
|
|
|
|
|
| Quarterly Rental Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 469,120
|
|
|
|
|
|
|
|
|
| UBS Credit Facility (a) [Member] |
|
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| Line of Credit Facility [Line Items] |
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| Issuance date |
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Mar. 26, 2025
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| Maximum Borrowing Capacity |
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$ 85,000,000
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| Number of repayments installments |
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12
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| Frequency of payments |
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quarterly
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| Periodic Payment |
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$ 7,000,000
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| Balloon Payment to be Paid |
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$ 1,000,000
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| Maturity date |
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|
second quarter of 2028
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| Interest Rate Description |
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SOFR
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| Basis Spread on Variable Rate |
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2.15%
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| Description of Scope |
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The Company used the net proceeds
from the UBS Credit Facility to prepay in full, the following existing debt facilities (i) Macquarie Credit Facility (fully prepaid on
April 3, 2025 the amount of $17,500), (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit
Facility (fully prepaid on April 3, 2025 the amount of $46,818). On March 28, 2025, the Company fully prepaid, using cash on hand, the
amount $5,900 of the E.SUN, MICB, Cathay, Taishin Credit Facility, as no drawdown of the UBS Credit Facility had taken place during the
first quarter of 2025
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| Long-Term Debt, Gross |
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71,000,000
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0
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| $300.0 Million Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC [Member] |
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| Line of Credit Facility [Line Items] |
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| Maximum Borrowing Capacity |
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$ 300,000,000
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| Number of repayments installments |
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12
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| Frequency of payments |
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|
quarterly
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| Periodic Payment |
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$ 12,000,000
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| Balloon Payment to be Paid |
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$ 60,000,000
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| Maturity date |
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|
third
quarter of 2030
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| Interest Rate Description |
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|
SOFR
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| Basis Spread on Variable Rate |
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1.85%
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| Description of Scope |
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to
refinance or prepay, in full or in part, the following (a) existing debt facilities (i) Sinopac Credit Facility, (ii) Deutsche Bank
Credit Facility, (iii) HCOB Credit Facility, (iv) CACIB, Bank Sinopac, CTBC Credit Facility, (v) Chailease Credit Facility, (vi)
Syndicated Senior Secured Credit Facility (CACIB, ABN, First-Citizens & Trust Company, Siemens, CTBC, Bank Sinopac, Palatine),
(vii) Macquarie loan and (viii) E.SUN, MICB, Cathay, Taishin Credit Facility and (b) existing sale and lease back agreements (i)
$54,000 CMBFL Sale and Leaseback Agreement and (ii) Neptune Sale and Leaseback Agreement.
The refinancing transaction was accounted as a debt extinguishment
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| Long-Term Debt, Gross |
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|
$ 240,000,000
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| Number of tranches |
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3
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| Drawn down date |
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|
third
quarter of 2024
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| Fees and related costs deferred |
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|
$ 2,625,000
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| $300.0 Million Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC [Member] | First Four Installments [Member] |
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| Line of Credit Facility [Line Items] |
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| Number of repayments installments |
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|
|
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|
4
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| Frequency of payments |
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|
quarterly
|
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| Periodic Payment |
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|
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|
$ 10,000,000
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| $300.0 Million Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC [Member] | Next Four Installments [Member] |
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|
| Line of Credit Facility [Line Items] |
|
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|
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| Number of repayments installments |
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|
|
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|
|
4
|
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| Frequency of payments |
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|
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|
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|
quarterly
|
|
|
|
|
|
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|
|
|
|
|
|
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|
| Periodic Payment |
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|
|
|
|
|
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|
$ 8,000,000
|
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|
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|
| $300.0 Million Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC [Member] | Last Four Installments [Member] |
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|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
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|
|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
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|
|
|
|
|
|
|
|
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|
quarterly
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
| Periodic Payment |
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|
|
|
|
|
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|
$ 6,000,000
|
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|
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|
|
|
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|
|
| $76.0 million Macquarie Bank Limited Credit Facility [Member] |
|
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|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
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|
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| Issuance date |
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|
|
|
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|
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|
|
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|
|
|
|
|
|
|
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|
|
|
May 18, 2023
|
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|
|
|
|
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|
|
| Maximum Borrowing Capacity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
$ 76,000,000
|
|
|
|
|
|
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|
| Balloon Payment to be Paid |
|
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|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
|
$ 25,000,000
|
|
|
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|
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|
| Maturity date |
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|
|
May
2026
|
|
|
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|
|
| Interest Rate Description |
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|
|
|
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|
|
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|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.50%
|
|
|
|
|
|
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|
|
| Description of Scope |
|
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|
to
finance part of the acquisition cost of four containerships, each with a carrying capacity of, 8,544 TEU vessels for an aggregate
purchase price of $123,300
|
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|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
$ 0
|
|
|
|
|
|
|
|
|
| Number of tranches |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
|
|
|
|
|
| Drawn down date |
|
|
|
|
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|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
second
quarter of 2023
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
$ 17,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 18,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fees on repayments of debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 175,000
|
|
|
|
|
|
|
|
|
| $76.0 million Macquarie Bank Limited Credit Facility [Member] | Two Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 5,000,000
|
|
|
|
|
|
|
|
|
| $76.0 million Macquarie Bank Limited Credit Facility [Member] | Six Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 6,000,000
|
|
|
|
|
|
|
|
|
| $76.0 million Macquarie Bank Limited Credit Facility [Member] | One Installment [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 3,000,000
|
|
|
|
|
|
|
|
|
| $76.0 million Macquarie Bank Limited Credit Facility [Member] | Two Installments I [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,000,000
|
|
|
|
|
|
|
|
|
| E. S U N M I C B Cathay Taishin Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
$ 46,818,000
|
$ 5,900,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $60.0 million E.SUN, MICB, Cathay, Taishin Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
October
2025
|
|
|
|
|
July
2026
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.75%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The
Company used a portion of the net proceeds from this credit facility to fully prepay certain of the Company’s then-outstanding indebtedness
|
|
|
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Number of tranches |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
$ 5,900,000
|
|
|
|
|
|
|
|
|
|
|
|
$ 8,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December
30, 2021
|
|
|
|
|
|
|
|
|
| $60.0 million E.SUN, MICB, Cathay, Taishin Credit Facility [Member] | One Installment [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,100,000
|
|
|
|
|
|
|
|
|
| $60.0 million E.SUN, MICB, Cathay, Taishin Credit Facility [Member] | Eight Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 4,500,000
|
|
|
|
|
|
|
|
|
| $60.0 million E.SUN, MICB, Cathay, Taishin Credit Facility [Member] | Ten Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,400,000
|
|
|
|
|
|
|
|
|
| $60.0 million E.SUN, MICB, Cathay, Taishin Credit Facility [Member] | Four Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,400,000
|
|
|
|
|
|
|
|
|
| $60.0 million E.SUN, MICB, Cathay, Taishin Credit Facility [Member] | After September 112024 [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| $140.0 Million HBOC, CACIB, ESUN, CTBC, Taishin Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maximum Borrowing Capacity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 140,000,000
|
|
|
|
|
|
|
|
|
| Balloon Payment to be Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 35,600,000
|
|
|
|
|
|
|
|
|
| Maturity date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 2026
|
|
|
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.25%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to finance the acquisition of the Twelve Vessels
|
|
|
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Drawn down date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 2021
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
$ 2,838,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 6, 2021
|
|
|
|
|
|
|
|
|
| Deduction from the balloon installment |
|
|
|
|
|
$ 1,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $140.0 Million HBOC, CACIB, ESUN, CTBC, Taishin Credit Facility [Member] | First Six Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 8,000,000
|
|
|
|
|
|
|
|
|
| $140.0 Million HBOC, CACIB, ESUN, CTBC, Taishin Credit Facility [Member] | Next Eight Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 5,400,000
|
|
|
|
|
|
|
|
|
| $140.0 Million HBOC, CACIB, ESUN, CTBC, Taishin Credit Facility [Member] | Last Six Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,200,000
|
|
|
|
|
|
|
|
|
| $12.0 Million Sinopac Capital International Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maximum Borrowing Capacity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 12,000,000
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 420,000
|
|
|
|
|
|
|
|
|
| Balloon Payment to be Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 3,600,000
|
|
|
|
|
|
|
|
|
| Maturity date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 2026
|
|
|
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.25%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
partially used to fully refinance certain of the Company’s then-outstanding indebtedness
|
|
|
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Drawn down date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 2021
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 6,960,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
August 27, 2021
|
|
|
|
|
|
|
|
|
| $51.7 Million Deutsche Bank AG Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maximum Borrowing Capacity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 51,670,000
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,162,450
|
|
|
|
|
|
|
|
|
| Balloon Payment to be Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 28,421,000
|
|
|
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.25%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
for
which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness
|
|
|
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
|
|
|
|
|
$ 36,558,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May
6, 2021
|
|
|
|
|
|
|
|
|
| $64.2 Million Hamburg Commercial Bank AG Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maximum Borrowing Capacity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 64,200,000
|
|
|
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.50%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in order to finance the acquisition of six out of the Seven
Vessels
|
|
|
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 12,706,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 15, 2021
|
|
|
|
|
|
|
|
|
| $64.2 Million Hamburg Commercial Bank AG Credit Facility [Member] | Each Tranche [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 668,750
|
|
|
|
|
|
|
|
|
| $64.2 Million Hamburg Commercial Bank AG Credit Facility [Member] | Tranches A, E and F [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 2025
|
|
|
|
|
|
|
|
|
| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
|
|
|
|
|
|
$ 32,100,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $64.2 Million Hamburg Commercial Bank AG Credit Facility [Member] | Tranches B and D [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 2025
|
|
|
|
|
|
|
|
|
| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
|
|
|
|
|
|
|
|
|
$ 21,400,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $64.2 Million Hamburg Commercial Bank AG Credit Facility [Member] | Tranche C [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 2025
|
|
|
|
|
|
|
|
|
| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 10,700,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $51.7 Million CACIB, Bank Sinopac, CTBC Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maximum Borrowing Capacity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 51,700,000
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,275,000
|
|
|
|
|
|
|
|
|
| Balloon Payment to be Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 26,200,000
|
|
|
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.75%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
for which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness
|
|
|
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
|
|
|
|
|
|
$ 35,125,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April
13, 2021
|
|
|
|
|
|
|
|
|
| $9.0 Million Chailease Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maximum Borrowing Capacity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
$ 9,000,000
|
|
|
|
|
|
|
|
|
| Balloon Payment to be Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,314,000
|
|
|
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOFR
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
4.20%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
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|
to
refinance certain of the Company’s then-outstanding indebtedness
|
|
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|
|
|
|
|
|
| Long-Term Debt, Gross |
|
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|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,831,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
February
26, 2020
|
|
|
|
|
|
|
|
|
| $9.0 Million Chailease Credit Facility [Member] | 36 Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
monthly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 156,000
|
|
|
|
|
|
|
|
|
| $9.0 Million Chailease Credit Facility [Member] | 24 Installments [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
monthly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 86,000
|
|
|
|
|
|
|
|
|
| $268.0 Million Syndicated Senior Secured Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Rate Description |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
amended certain covenants in the
Company’s favor at an unchanged rate of LIBOR + 3.00%. On July 1, 2022, the interest rate was SOFR plus a margin of 3.00% plus
a CAS and was payable at each quarter end date
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in
order to refinance existing credit facilities that had a maturity date in December 2020, of an outstanding amount of
$224,310
|
|
|
|
|
|
|
|
|
| Long-Term Debt, Gross |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 0
|
|
|
|
|
|
|
|
|
| Repayments of Debt |
|
|
|
|
|
|
|
|
|
|
|
$ 133,200,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September
19, 2019
|
|
|
|
|
|
|
|
|
| Number of loan tranches |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
| $268.0 Million Syndicated Senior Secured Credit Facility [Member] | Tranche A [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 5,200,000
|
|
|
|
|
|
|
|
|
| Balloon Payment to be Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 126,000,000
|
|
|
|
|
|
|
|
|
| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 230,000,000
|
|
|
|
|
|
|
|
|
|
|
|
| $268.0 Million Syndicated Senior Secured Credit Facility [Member] | Tranche B [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of repayments installments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20
|
|
|
|
|
|
|
|
|
| Frequency of payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
quarterly
|
|
|
|
|
|
|
|
|
| Periodic Payment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,000,000
|
|
|
|
|
|
|
|
|
| Balloon Payment to be Paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 18,000,000
|
|
|
|
|
|
|
|
|
| Sale Leaseback Transaction, Net Proceeds, Financing Activities |
|
$ 38,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Extended $268.0 Million Syndicated Senior Secured Credit Facility [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maturity date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 2026
|
|
|
|
|
|
|
|
|
| Basis Spread on Variable Rate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.00%
|
|
|
|
|
|
|
|
|
| Description of Scope |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to refinance its outstanding Syndicated
Senior Secured Credit Facility
|
|
|
|
|
|
|
|
|
| Issuance date of debt instrument |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 2022
|
|
|
|
|
|
|
|
|
| Four Sale and Leaseback agreements ($44.5 Million each) - Minsheng Financial Leasing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fees and related costs deferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,335,000
|
|
|
|
|
|
|
|
|
| $76.0 Million Macquarie Bank Limited Credit Facility [member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Line of Credit Facility [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fees and related costs deferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,140,000
|
|
|
|
|
|
|
|
|
|
|