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(the “Company”) merged indirectly with Marathon Acquisition Corp., a company then listed on The American Stock Exchange, and with the pre-existing Global Ship Lease, Inc. GSL Holdings, Inc. was the surviving entity (the “Marathon Merger”), changed its name to Global Ship Lease, Inc. and became listed on The New York Stock Exchange (the “NYSE”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 15, 2018, the Company completed a transformative transaction and acquired Poseidon Containers’ <span id="xdx_900_ecustom--NumberOfVesselsPurchased_iI_uPure_c20181115__us-gaap--NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis__custom--PoseidonTransactionMember_zTTdSU5hR6if" title="Number of vessels purchased">20</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">containerships, <span id="xdx_90E_ecustom--NumberOfVesselsSold_dc_uPure_c20180101__20181231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ArgosMember__us-gaap--NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis__custom--PoseidonTransactionMember_zlqomY2pXbdh">one</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of which, the Argos, was contracted to be sold, which sale was completed in December 2018, (the “Poseidon Transaction”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2021, the Company purchased <span id="xdx_909_ecustom--NumberOfVesselsPurchased_iI_uPure_c20211231_zxmRqGly0nBf">23</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">vessels. The Company purchased <span id="xdx_902_ecustom--NumberOfVesselsPurchased_iI_dc_uPure_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_zt50lJTUQdtf">seven</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">containerships of approximately <span id="xdx_90B_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_z6L8JBF4GFH1">6,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU each (the “Seven Vessels”), <span id="xdx_903_ecustom--NumberOfVesselsPurchased_iI_uPure_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsMember_zwG187eZB6Qj" title="Number of vessels purchased">12</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">containerships from Borealis Finance LLC (the “Twelve Vessels”) and <span id="xdx_90B_ecustom--NumberOfVesselsPurchased_iI_dc_uPure_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_zCWdmXZOYzv7" title="Number of vessels purchased">four</span></span> <span id="xdx_901_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_zthuK0NomPr5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU Panamax containerships (the “Four Vessels”). Also on June 30, 2021, vessel La Tour was sold.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the second quarter of 2023, the Company purchased <span id="xdx_906_ecustom--NumberOfVesselsPurchased_iI_dc_uPure_c20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourNewVesselsMember_z8JiFmYbztAe">four</span></span> <span id="xdx_90C_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20230101__20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourNewVesselsMember_z0hCFLZnpK1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU vessels for an aggregate purchase price of $<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20230101__20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourNewVesselsMember_z6oy09gO7k7j" title="Aggregate purchase price">123,300</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, <span id="xdx_90F_ecustom--DeliveryDate_c20230101__20230630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourNewVesselsMember_zyckeJLTdoP3">which were delivered on various dates in May and June 2023</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. Also on March 23, 2023, GSL Amstel was sold.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the fourth quarter of 2024, the Company agreed to purchase <span id="xdx_908_ecustom--NumberOfVesselsPurchased_iI_dc_uPure_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourHighReeferECOVesselsMember_zA9QhoOfezf9">four</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">high-reefer ECO <span id="xdx_90D_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourHighReeferECOVesselsMember_zzRm3vSIjrm9">9,019</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU vessels for an aggregate price of $<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourHighReeferECOVesselsMember_zm97YeLpIBh8" title="Aggregate purchase price">273,891</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, of <span id="xdx_908_ecustom--DeliveryDate_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeOutOfFourHighReeferECOVesselsMember_zD1vpEdnlJqh">which three were delivered on various dates in December 2024</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the first quarter of 2025, the fourth ECO <span id="xdx_90E_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourthEco9019TeuVesselMember_zwRIFs3lH66b">9,019</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU vessel <span id="xdx_900_ecustom--DeliveryDate_c20250101__20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourthEco9019TeuVesselMember_zGkW5w3uuOZi">was delivered in January 2025</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, and the Company sold also <span id="xdx_909_ecustom--NumberOfVesselsSold_dc_uPure_c20250101__20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanKetaAndAkitetaMember_z6KmYx3N2oMj">three</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">vessels Tasman, Keta and Akiteta. In May 2025, Dimitris Y was contracted to be sold and <span id="xdx_905_ecustom--DeliveryDate_c20250101__20250531__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--DimitrisYMember_zGaKprz4oSRe">was delivered to the buyers on October 13, 2025</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(see Note 4). During the fourth quarter of 2025, the Company also agreed to purchase <span id="xdx_900_ecustom--NumberOfVesselsPurchased_iI_dc_uPure_c20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeECOVesselsMember_zBTeztoiO2lb">three</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ECO <span id="xdx_900_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeECOVesselsMember_z8cneUC23Qp8">8,586</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU containerships (the “Three Vessels”) for an aggregate purchase price of $<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeECOVesselsMember_zQINuE3JSQPi" title="Aggregate purchase price">90,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, of <span id="xdx_907_ecustom--DeliveryDate_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoOutOfThreeECOVesselsMember_zlQNH8rtem53">which two were delivered on various dates in December 2025</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_90D_ecustom--DeliveryDate_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThirdECOVesselsMember_zL1KEsvFdHc7">the third one on January 9, 2026</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following the above-mentioned additions and the sale of vessels in 2021, 2023, 2024 and 2025, the Company’s fleet comprises <span id="xdx_901_ecustom--NumberOfVesselsOwned_uPure_c20250101__20251231_zZ9dK0k86QQ8">70</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">containerships with average age as at December 31, 2025, weighted by TEU capacity, of <span id="xdx_902_ecustom--WeightedAverageAgeCapacity_dtY_c20250101__20251230_zpm7dlmadfPj">18.0</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">years.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table provides information about the 70 vessels owned as at December 31, 2025.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_z2zgMTfLYTp3" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zvLGAJeQeola" style="display: none">Description of Business - Schedule of Vessels (Table)</span></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; text-align: left; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_zRPb8oWL4wki" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--VesselName_zhvIiyppk5Gf" style="vertical-align: middle; text-align: center; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zPaPD43oPvwi" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--YearBuilt_zSoT1JzkO4Da" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zxB9Ttznz5Db" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 0.5pt solid; text-align: left; vertical-align: middle"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel <br/> Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year <br/> Built</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Earliest Charter Expiry Date </b></span></td></tr> <tr id="xdx_410_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease54LLCMember_z0JaAaO5yBDj" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 54 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Thalassa </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,040</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2008</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--LaertisMarineLLCMember_z5ftKxLRfh52" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Laertis Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zim Norfolk </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,115</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q32 ⁽⁴⁾</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PenelopeMarineLLCMember_zvus9JEWkzll" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Penelope Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zim Xiamen </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,115</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q32 ⁽⁴⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--TelemachusMarineLLCMember_zQVLemihIpnf" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telemachus Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anthea Y </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,115</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q28</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease78LLCMember_zX4QVpVJJBXd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 78 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sydney Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27 ⁽⁵⁾</span></td></tr> <tr id="xdx_415_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease79LLCMember_zlQZmKyDo6w7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 79 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Istanbul Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q26 ⁽⁵⁾</span></td></tr> <tr id="xdx_412_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease77LLCMember_zmikYkrIyGXa" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 77 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bremerhaven Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27 ⁽⁵⁾</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease76LLCMember_zAkBrdUCnq1i" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 76 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Czech</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26 ⁽⁵⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease53LLCMember_z1bl5u3SHncc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 53 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MSC Tianjin</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,603</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2005</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease52LLCMember_zYttzRpIq68h" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 52 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MSC Qingdao</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,603</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease43LLCMember_zaeiaunVk5nd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 43 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Ningbo</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,603</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_412_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease72LLCMember_zhHAQBhrG3hc" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 72 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alexandra</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease73LLCMember_ziYf18C4xCV6" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 73 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Sofia</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease74LLCMember_z5ZDsBLHeobd" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 74 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Effie</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease75LLCMember_zCULqTMhDAKi" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 75 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Lydia</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease80LLCMember_zBU0HbYPzye9" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 80 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lotus A</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q26 ⁽⁸⁾</span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease81LLCMember_zuCnZfxU2Owf" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 81 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koi</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2011</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q26 ⁽⁸⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease30LimitedMember_zNDk6UqU2HJ7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 30 Limited</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Eleni</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,847</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27 ⁽⁹⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease31LimitedMember_zeeAQou28jd7" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 31 Limited</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Kalliopi </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,847</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽⁹⁾</span></td></tr> <tr id="xdx_416_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease32LimitedMember_zM4fYeHGt985" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 32 Limited</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Grania</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,847</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽⁹⁾</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0">  </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. Description of Business (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: middle; background-color: White"> <td style="vertical-align: bottom; text-align: left; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_zrtz5Hs5w2rk" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--VesselName_z9SV22lB4hLl" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zVPEtLsyAUlj" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--YearBuilt_zSQPq2t8q3Pk" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zXCIjKldMo5g" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: middle; background-color: White"> <td style="border-bottom: Black 0.5pt solid; text-align: left; vertical-align: middle"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel <br/> Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Earliest Charter <br/> Expiry Date</b></span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AlexanderMarineLLCMember_z5U6VPA8ODff" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alexander Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colombia Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q28 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--HectorMarineLLCMember_zzpsjH7luye1" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hector Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Panama Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--IkarosMarineLLCMember_zQzDBb5Smp99" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ikaros Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costa Rica Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PhilipposMarineLLCMember_z5mASQiTlaCk" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Philippos Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicaragua Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease48LLCMember_zTLQJFFfdk16" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 48 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Berlioz</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,023</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹¹⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AristotelesMarineLLCMember_z8PFLgbOOkJ6" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aristoteles Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mexico Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,918</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--MenelaosMarineLLCMember_zQMgp7ZZy3zc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menelaos Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jamaica Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,918</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease35LLCMember_zF6QLw18NLA5" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 35 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Nicoletta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,858</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_419_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease36LLCMember_zsuDraRcm8Kc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 36 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Christen</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,858</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--LeonidasMarineLLCMember_zqVyf0YemSO5" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leonidas Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agios Dimitrios</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,572</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2011</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease33LLCMember_zu2VkOjd9Pnb" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 33 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Vinia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽¹²⁾</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease34LLCMember_zIj64dexhqr1" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 34 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Christel Elisabeth</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽¹²⁾</span></td></tr> <tr id="xdx_412_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLArcadiaLLCMember_zl2GOsY0Opl6" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Arcadia LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Arcadia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLMelitaLLCMember_z8yoh8ogzM3g" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Melita LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Melita</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLMariaLLCMember_zq20qyZzw07g" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Maria LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Maria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q30 ⁽¹³⁾</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLVioletaLLCMember_ztMP5p7Nwuak" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Violetta LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Violetta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLMYNYLLCMember_z3cTZKydJr03" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL MYNY LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL MYNY</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLTegeaLLCMember_zCqOeDD94vSi" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tegea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tegea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,994</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLDorotheaLLCMember_zhUBxQpKkGA5" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Dorothea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Dorothea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,994</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--DrakeMarineLLCMember_zI14rh9ujHxb" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Drake Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ian H </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease68LLCMember_zoZhmAUaP1lc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 68 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Kithira</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease69LLCMember_zf1fUahamjri" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 69 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tripoli</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_419_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease70LLCMember_zB36irGN4qT2" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 70 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Syros</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease71LLCMember_znBjWJ3txXCd" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 71 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tinos</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--ZeusOneMarineLLCMember_zlPoTP5jzPTd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zeus One Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Orca I </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,308</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--HephaestusMarineLLCMember_z7RS6WtYvIVh" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hephaestus Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dolphin II </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,095</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease47LLCMember_z3oOywpNq8Gh" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 47 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Château d’If</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q29 ⁽¹⁴⁾</span></td></tr> <tr id="xdx_416_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLAlcazarIncMember_zPuDIke7Q9l4" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alcazar Inc. </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Alcazar  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁴⁾</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease55LLCMember_zMcAmJxYyhc9" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 55 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Susan </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,363</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_410_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease50LLCMember_zUI1LkU2Uta7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 50 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Jamaica   </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,298</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease49LLCMember_zUjXLBJJMKGc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 49 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Sambhar </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease51LLCMember_zYZQqdj3dZMf" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 51 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM America  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease57LLCMember_zG4okK7O4cKi" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 57 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Rossi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q26</span></td></tr> <tr id="xdx_414_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease58LLCMember_zpaBj87m5bR5" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 58 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alice</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease60LLCMember_z5tFZk6CE0Nd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 60 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Eleftheria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28</span></td></tr> <tr id="xdx_419_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease59LLCMember_zbBAxCgpYWw7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 59 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Melina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PericlesMarineLLCMember_zvnaMlShDGS2" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pericles Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Athena </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,980</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease61LLCMember_zHcwBO87YL6e" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 61 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Mercer</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q27</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease62LLCMember_zDolnizsCOU" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 62 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Mamitsa</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease63LLCMember_zOqxOEhc2qff" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 63 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Lalo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease42LLCMember_zVMyovxLjbz8" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 42 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Valerie </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2005</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease64LLCMember_zscKJYcotyBi" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 64 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Elizabeth </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,741</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q26</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AthenaMarineLLCMember_zSBCnT9HtBMh" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Athena Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Newyorker </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,635</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_414_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AphroditeMarineLLCMember_zxmMLfIJiZqa" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aphrodite Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nikolas </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,635</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_415_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease65LLCMember_zcOeA9X9XBZd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 65 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Chloe</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q27</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease66LLCMember_zu2Kj7gNj3Tj" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 66 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Maren</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28 ⁽¹⁵⁾</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--ArisMarineLLCMember_z5SzCKuPbC8k" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aris Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maira </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q27</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease38LLCMember_zuArieN8FlN9" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 38 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manet </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,288</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q26</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease45LLCMember_zFVxhYTH1Z43" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 45 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kumasi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,220</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_414_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease41LLCMember_zXQj3w8lSO69" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 41 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Julie</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. Description of Business (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p><table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(1)</i></span></td> <td style="text-align: justify; width: 98%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>All subsidiaries are 100% owned, either directly or indirectly;  </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(2)</i></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Twenty-foot Equivalent Units;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(3)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Currently, under a sale and leaseback transaction (see Note 2q);</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(4)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Zim Norfolk and Zim Xiamen were forward extended for 60 – 63 months. The extensions are expected to commence between 2Q-3Q 2027;</i></span></td></tr> <tr style="vertical-align: bottom"><td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(5)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sydney Express, Istanbul Express and Bremerhaven Express delivered in 4Q 2024. Czech, the fourth vessel was delivered on January 9, 2025. Firm charters are followed by three 12-month extension periods at charterer’s option. Bremerhaven Express and Sydney Express options were exercised in 3Q 2025;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(6)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>MSC Tianjin, MSC Qingdao, Agios Dimitrios and GSL Ningbo were forward fixed in direct continuation for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2027. MSC Qingdao &amp; Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (“scrubbers”);</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(7)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie. Firm charters are followed by one year extension period at charterer’s option. GSL Sofia and GSL Effie options were exercised in January 2025. GSL Alexandra and GSL Lydia options were exercised in February 2025. The vessels were forward fixed for 24 months +/- 30 days. The new charters are expected to commence between 2Q-3Q 2026;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(8)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Lotus A and Koi. The charters have flexible durations, with latest redeliveries in mid-2030;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(9)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GSL Eleni, GSL Kalliopi and GSL Grania were forward fixed for 35 – 38 months to commence after drydocking, after which the charterer has the option to extend each charter for a further 12 – 16 months;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(10) </i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Colombia Express (ex-Mary), Panama Express (ex-Kristina), Costa Rica Express (ex-Katherine), Nicaragua Express (ex-Alexandra), Mexico Express (ex-Alexis), Jamaica Express (ex-Olivia I). Firm charters are followed by two twelve-month extension periods at charterer’s option;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(11)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>CMA CGM Berlioz was forward fixed for 36 – 38 months. The new charter is expected to commence in 3Q 2026;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(12)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Vinia and GSL Christel Elizabeth are chartered for 36 – 40 months, after which the charterer has the option to extend each charter for a further 12 – 15 months. The new charters both commenced in 1Q 2025;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(13)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Maria, GSL Violetta, GSL Arcadia, GSL MYNY, GSL Melita, GSL Tegea and GSL Dorothea. Contract cover for each vessel is for a firm period of at least three years from the date each vessel was delivered in 2021. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time – for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey. The first extension options have been exercised for all seven ships. Second extension options were exercised in January 2025 for GSL Dorothea, GSL Arcadia, GSL Melita and GSL Tegea, in April 2025 for GSL MYNY and in September 2025 for GSL Maria. The vessels were forward fixed for 36 – 38 months. The new charters are expected to commence between 1Q 2026 and 1Q 2027;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(14)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Château d’If and CMA CGM Alcazar were forward fixed for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2026;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(15)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Maren was forward fixed in direct continuation for 24 – 26 months. The new charter is expected to commence in 2Q 2026.</i></span></td></tr> </table> <p id="xdx_8A3_zCA6GS4MrKx" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> 20 1 23 7 6000 12 4 5470 4 8544 123300000 which were delivered on various dates in May and June 2023 4 9019 273891000 which three were delivered on various dates in December 2024 9019 was delivered in January 2025 3 was delivered to the buyers on October 13, 2025 3 8586 90000000 which two were delivered on various dates in December 2025 the third one on January 9, 2026 70 P18Y <p id="xdx_89F_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_z2zgMTfLYTp3" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zvLGAJeQeola" style="display: none">Description of Business - Schedule of Vessels (Table)</span></span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="vertical-align: bottom; text-align: left; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_zRPb8oWL4wki" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--VesselName_zhvIiyppk5Gf" style="vertical-align: middle; text-align: center; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zPaPD43oPvwi" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--YearBuilt_zSoT1JzkO4Da" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zxB9Ttznz5Db" style="vertical-align: middle; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 0.5pt solid; text-align: left; vertical-align: middle"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel <br/> Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year <br/> Built</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Earliest Charter Expiry Date </b></span></td></tr> <tr id="xdx_410_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease54LLCMember_z0JaAaO5yBDj" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 54 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Thalassa </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,040</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2008</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--LaertisMarineLLCMember_z5ftKxLRfh52" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Laertis Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zim Norfolk </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,115</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q32 ⁽⁴⁾</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PenelopeMarineLLCMember_zvus9JEWkzll" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Penelope Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zim Xiamen </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,115</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q32 ⁽⁴⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--TelemachusMarineLLCMember_zQVLemihIpnf" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telemachus Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anthea Y </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,115</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q28</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease78LLCMember_zX4QVpVJJBXd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 78 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sydney Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27 ⁽⁵⁾</span></td></tr> <tr id="xdx_415_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease79LLCMember_zlQZmKyDo6w7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 79 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Istanbul Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q26 ⁽⁵⁾</span></td></tr> <tr id="xdx_412_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease77LLCMember_zmikYkrIyGXa" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 77 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bremerhaven Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27 ⁽⁵⁾</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease76LLCMember_zAkBrdUCnq1i" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 76 LLC ⁽³⁾</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Czech</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26 ⁽⁵⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease53LLCMember_z1bl5u3SHncc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 53 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MSC Tianjin</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,603</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2005</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease52LLCMember_zYttzRpIq68h" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 52 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MSC Qingdao</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,603</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease43LLCMember_zaeiaunVk5nd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 43 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Ningbo</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,603</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_412_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease72LLCMember_zhHAQBhrG3hc" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 72 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alexandra</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease73LLCMember_ziYf18C4xCV6" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 73 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Sofia</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease74LLCMember_z5ZDsBLHeobd" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 74 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Effie</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease75LLCMember_zCULqTMhDAKi" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 75 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Lydia</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,599</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28 ⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease80LLCMember_zBU0HbYPzye9" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 80 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lotus A</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q26 ⁽⁸⁾</span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease81LLCMember_zuCnZfxU2Owf" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 81 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koi</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2011</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q26 ⁽⁸⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease30LimitedMember_zNDk6UqU2HJ7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 30 Limited</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Eleni</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,847</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27 ⁽⁹⁾</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease31LimitedMember_zeeAQou28jd7" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 31 Limited</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Kalliopi </span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,847</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽⁹⁾</span></td></tr> <tr id="xdx_416_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease32LimitedMember_zM4fYeHGt985" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 32 Limited</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Grania</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,847</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽⁹⁾</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0">  </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. Description of Business (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: middle; background-color: White"> <td style="vertical-align: bottom; text-align: left; width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_zrtz5Hs5w2rk" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--VesselName_z9SV22lB4hLl" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zVPEtLsyAUlj" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_486_ecustom--YearBuilt_zSQPq2t8q3Pk" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zXCIjKldMo5g" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: middle; background-color: White"> <td style="border-bottom: Black 0.5pt solid; text-align: left; vertical-align: middle"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel <br/> Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Earliest Charter <br/> Expiry Date</b></span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AlexanderMarineLLCMember_z5U6VPA8ODff" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alexander Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colombia Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q28 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--HectorMarineLLCMember_zzpsjH7luye1" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hector Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Panama Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--IkarosMarineLLCMember_zQzDBb5Smp99" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ikaros Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costa Rica Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PhilipposMarineLLCMember_z5mASQiTlaCk" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Philippos Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicaragua Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease48LLCMember_zTLQJFFfdk16" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 48 LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Berlioz</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,023</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹¹⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AristotelesMarineLLCMember_z8PFLgbOOkJ6" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aristoteles Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mexico Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,918</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--MenelaosMarineLLCMember_zQMgp7ZZy3zc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Menelaos Marine LLC</span></td> <td style="vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jamaica Express</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,918</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: middle; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁰⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease35LLCMember_zF6QLw18NLA5" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 35 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Nicoletta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,858</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_419_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease36LLCMember_zsuDraRcm8Kc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 36 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Christen</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,858</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_413_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--LeonidasMarineLLCMember_zqVyf0YemSO5" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leonidas Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agios Dimitrios</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,572</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2011</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q30 ⁽⁶⁾</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease33LLCMember_zu2VkOjd9Pnb" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 33 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Vinia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽¹²⁾</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease34LLCMember_zIj64dexhqr1" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 34 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Christel Elisabeth</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28 ⁽¹²⁾</span></td></tr> <tr id="xdx_412_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLArcadiaLLCMember_zl2GOsY0Opl6" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Arcadia LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Arcadia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLMelitaLLCMember_z8yoh8ogzM3g" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Melita LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Melita</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLMariaLLCMember_zq20qyZzw07g" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Maria LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Maria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q30 ⁽¹³⁾</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLVioletaLLCMember_ztMP5p7Nwuak" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Violetta LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Violetta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLMYNYLLCMember_z3cTZKydJr03" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL MYNY LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL MYNY</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLTegeaLLCMember_zCqOeDD94vSi" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tegea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tegea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,994</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLDorotheaLLCMember_zhUBxQpKkGA5" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Dorothea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Dorothea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,994</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹³⁾</span></td></tr> <tr id="xdx_41D_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--DrakeMarineLLCMember_zI14rh9ujHxb" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Drake Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ian H </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease68LLCMember_zoZhmAUaP1lc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 68 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Kithira</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease69LLCMember_zf1fUahamjri" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 69 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tripoli</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_419_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease70LLCMember_zB36irGN4qT2" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 70 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Syros</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease71LLCMember_znBjWJ3txXCd" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 71 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Tinos</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--ZeusOneMarineLLCMember_zlPoTP5jzPTd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zeus One Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Orca I </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,308</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--HephaestusMarineLLCMember_z7RS6WtYvIVh" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hephaestus Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dolphin II </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,095</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease47LLCMember_z3oOywpNq8Gh" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 47 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Château d’If</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q29 ⁽¹⁴⁾</span></td></tr> <tr id="xdx_416_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GSLAlcazarIncMember_zPuDIke7Q9l4" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alcazar Inc. </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Alcazar  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q29 ⁽¹⁴⁾</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease55LLCMember_zMcAmJxYyhc9" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 55 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Susan </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,363</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_410_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease50LLCMember_zUI1LkU2Uta7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 50 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Jamaica   </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,298</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_418_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease49LLCMember_zUjXLBJJMKGc" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 49 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM Sambhar </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease51LLCMember_zYZQqdj3dZMf" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 51 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM America  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease57LLCMember_zG4okK7O4cKi" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 57 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Rossi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q26</span></td></tr> <tr id="xdx_414_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease58LLCMember_zpaBj87m5bR5" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 58 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alice</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease60LLCMember_z5tFZk6CE0Nd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 60 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Eleftheria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q28</span></td></tr> <tr id="xdx_419_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease59LLCMember_zbBAxCgpYWw7" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 59 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Melina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--PericlesMarineLLCMember_zvnaMlShDGS2" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pericles Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Athena </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,980</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_41B_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease61LLCMember_zHcwBO87YL6e" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 61 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Mercer</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q27</span></td></tr> <tr id="xdx_41F_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease62LLCMember_zDolnizsCOU" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 62 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Mamitsa</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q28</span></td></tr> <tr id="xdx_417_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease63LLCMember_zOqxOEhc2qff" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 63 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Lalo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease42LLCMember_zVMyovxLjbz8" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 42 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Valerie </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2005</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease64LLCMember_zscKJYcotyBi" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 64 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Elizabeth </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,741</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q26</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AthenaMarineLLCMember_zSBCnT9HtBMh" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Athena Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Newyorker </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,635</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_414_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--AphroditeMarineLLCMember_zxmMLfIJiZqa" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aphrodite Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nikolas </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,635</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_415_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease65LLCMember_zcOeA9X9XBZd" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 65 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Chloe</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q27</span></td></tr> <tr id="xdx_411_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease66LLCMember_zu2Kj7gNj3Tj" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 66 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Maren</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2Q28 ⁽¹⁵⁾</span></td></tr> <tr id="xdx_41A_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--ArisMarineLLCMember_z5SzCKuPbC8k" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aris Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maira </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1Q27</span></td></tr> <tr id="xdx_41C_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease38LLCMember_zuArieN8FlN9" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 38 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manet </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,288</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q26</span></td></tr> <tr id="xdx_41E_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease45LLCMember_zFVxhYTH1Z43" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 45 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kumasi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,220</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_414_20250101__20251231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease41LLCMember_zXQj3w8lSO69" style="background-color: White"> <td style="vertical-align: bottom; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Global Ship Lease 41 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Julie</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3Q27</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. Description of Business (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p><table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(1)</i></span></td> <td style="text-align: justify; width: 98%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>All subsidiaries are 100% owned, either directly or indirectly;  </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(2)</i></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Twenty-foot Equivalent Units;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(3)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Currently, under a sale and leaseback transaction (see Note 2q);</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(4)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Zim Norfolk and Zim Xiamen were forward extended for 60 – 63 months. The extensions are expected to commence between 2Q-3Q 2027;</i></span></td></tr> <tr style="vertical-align: bottom"><td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(5)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sydney Express, Istanbul Express and Bremerhaven Express delivered in 4Q 2024. Czech, the fourth vessel was delivered on January 9, 2025. Firm charters are followed by three 12-month extension periods at charterer’s option. Bremerhaven Express and Sydney Express options were exercised in 3Q 2025;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(6)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>MSC Tianjin, MSC Qingdao, Agios Dimitrios and GSL Ningbo were forward fixed in direct continuation for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2027. MSC Qingdao &amp; Agios Dimitrios are fitted with Exhaust Gas Cleaning Systems (“scrubbers”);</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(7)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GSL Alexandra, GSL Sofia, GSL Lydia and GSL Effie. Firm charters are followed by one year extension period at charterer’s option. GSL Sofia and GSL Effie options were exercised in January 2025. GSL Alexandra and GSL Lydia options were exercised in February 2025. The vessels were forward fixed for 24 months +/- 30 days. The new charters are expected to commence between 2Q-3Q 2026;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(8)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Lotus A and Koi. The charters have flexible durations, with latest redeliveries in mid-2030;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(9)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GSL Eleni, GSL Kalliopi and GSL Grania were forward fixed for 35 – 38 months to commence after drydocking, after which the charterer has the option to extend each charter for a further 12 – 16 months;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(10) </i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Colombia Express (ex-Mary), Panama Express (ex-Kristina), Costa Rica Express (ex-Katherine), Nicaragua Express (ex-Alexandra), Mexico Express (ex-Alexis), Jamaica Express (ex-Olivia I). Firm charters are followed by two twelve-month extension periods at charterer’s option;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(11)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>CMA CGM Berlioz was forward fixed for 36 – 38 months. The new charter is expected to commence in 3Q 2026;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(12)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Vinia and GSL Christel Elizabeth are chartered for 36 – 40 months, after which the charterer has the option to extend each charter for a further 12 – 15 months. The new charters both commenced in 1Q 2025;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(13)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Maria, GSL Violetta, GSL Arcadia, GSL MYNY, GSL Melita, GSL Tegea and GSL Dorothea. Contract cover for each vessel is for a firm period of at least three years from the date each vessel was delivered in 2021. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time – for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey. The first extension options have been exercised for all seven ships. Second extension options were exercised in January 2025 for GSL Dorothea, GSL Arcadia, GSL Melita and GSL Tegea, in April 2025 for GSL MYNY and in September 2025 for GSL Maria. The vessels were forward fixed for 36 – 38 months. The new charters are expected to commence between 1Q 2026 and 1Q 2027;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(14)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Château d’If and CMA CGM Alcazar were forward fixed for 36 – 38 months. The new charters are expected to commence between 3Q-4Q 2026;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(15)</i></span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> GSL Maren was forward fixed in direct continuation for 24 – 26 months. The new charter is expected to commence in 2Q 2026.</i></span></td></tr> </table> Liberia CMA CGM Thalassa 11040000 2008 3Q28 Marshall Islands Zim Norfolk 9115000 2015 2Q32 (4) Marshall Islands Zim Xiamen 9115000 2015 3Q32 (4) Marshall Islands Anthea Y 9115000 2015 4Q28 Liberia Sydney Express 9019000 2016 3Q27 (5) Liberia Istanbul Express 9019000 2016 3Q26 (5) Liberia Bremerhaven Express 9019000 2015 2Q27 (5) Liberia Czech 9019000 2015 4Q26 (5) Liberia MSC Tianjin 8603000 2005 3Q30 (6) Liberia MSC Qingdao 8603000 2004 4Q30 (6) Liberia GSL Ningbo 8603000 2004 3Q30 (6) Liberia GSL Alexandra 8599000 2004 2Q28 (7) Liberia GSL Sofia 8599000 2003 3Q28 (7) Liberia GSL Effie 8599000 2003 3Q28 (7) Liberia GSL Lydia 8599000 2003 2Q28 (7) Liberia Lotus A 8586000 2010 2Q26 (8) Liberia Koi 8586000 2011 1Q26 (8) Marshall Islands GSL Eleni 7847000 2004 4Q27 (9) Marshall Islands GSL Kalliopi 7847000 2004 1Q28 (9) Marshall Islands GSL Grania 7847000 2004 1Q28 (9) Marshall Islands Colombia Express 7072000 2013 4Q28 (10) Marshall Islands Panama Express 7072000 2013 4Q29 (10) Marshall Islands Costa Rica Express 7072000 2013 2Q29 (10) Marshall Islands Nicaragua Express 7072000 2013 3Q29 (10) Liberia CMA CGM Berlioz 7023000 2001 3Q29 (11) Marshall Islands Mexico Express 6918000 2015 3Q29 (10) Marshall Islands Jamaica Express 6918000 2015 3Q29 (10) Liberia GSL Nicoletta 6858000 2002 1Q28 Liberia GSL Christen 6858000 2002 4Q27 Marshall Islands Agios Dimitrios 6572000 2011 3Q30 (6) Liberia GSL Vinia 6080000 2004 1Q28 (12) Liberia GSL Christel Elisabeth 6080000 2004 1Q28 (12) Liberia GSL Arcadia 6008000 2000 1Q29 (13) Liberia GSL Melita 6008000 2001 3Q29 (13) Liberia GSL Maria 6008000 2001 1Q30 (13) Liberia GSL Violetta 6008000 2000 1Q29 (13) Liberia GSL MYNY 6008000 2000 1Q29 (13) Liberia GSL Tegea 5994000 2001 3Q29 (13) Liberia GSL Dorothea 5994000 2001 3Q29 (13) Marshall Islands Ian H 5936000 2000 4Q27 Liberia GSL Kithira 5470000 2009 4Q27 Liberia GSL Tripoli 5470000 2009 3Q27 Liberia GSL Syros 5470000 2010 4Q27 Liberia GSL Tinos 5470000 2010 3Q27 Marshall Islands Orca I 5308000 2006 3Q28 Marshall Islands Dolphin II 5095000 2007 1Q28 Liberia GSL Château d’If 5089000 2007 4Q29 (14) Marshall Islands CMA CGM Alcazar   5089000 2007 3Q29 (14) Liberia GSL Susan 4363000 2008 3Q27 Liberia CMA CGM Jamaica    4298000 2006 1Q28 Liberia CMA CGM Sambhar 4045000 2006 1Q28 Liberia CMA CGM America   4045000 2006 1Q28 Liberia GSL Rossi 3421000 2012 1Q26 Liberia GSL Alice 3421000 2014 2Q28 Liberia GSL Eleftheria 3421000 2013 3Q28 Liberia GSL Melina 3404000 2013 4Q26 Marshall Islands Athena 2980000 2003 2Q27 Liberia GSL Mercer 2824000 2007 1Q27 Liberia GSL Mamitsa 2824000 2007 1Q28 Liberia GSL Lalo 2824000 2006 2Q27 Liberia GSL Valerie 2824000 2005 2Q27 Liberia GSL Elizabeth 2741000 2006 2Q26 Marshall Islands Newyorker 2635000 2001 2Q27 Marshall Islands Nikolas 2635000 2000 4Q26 Liberia GSL Chloe 2546000 2012 1Q27 Liberia GSL Maren 2546000 2014 2Q28 (15) Marshall Islands Maira 2506000 2000 1Q27 Liberia Manet 2288000 2001 3Q26 Liberia Kumasi 2220000 2002 4Q26 Liberia Julie 2207000 2002 3Q27 <p id="xdx_800_eus-gaap--SignificantAccountingPoliciesTextBlock_znbW79dXMTNg" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. <span id="xdx_82C_zQxjGrwTQ491">Summary of Significant Accounting Policies</span></b></span></p> <p id="xdx_84C_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z1vOqsH2ezX6" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) <span id="xdx_86C_zVnRtZci4PI4">Basis of Presentation</span></b></span></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) Basis of Presentation (continued)</b></span></p> <p id="xdx_84F_eus-gaap--NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock_zybZB4ad90I6" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_86C_zY4lD3YXMOw8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Adoption of new accounting standards</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, which requires greater disaggregation of income tax disclosures. The new standard requires additional information to be disclosed with respect to the income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. This ASU should be applied prospectively for fiscal years beginning after December 15, 2024, with retrospective application permitted. The Company adopted this ASU prospectively for the period ending December 31, 2025, and it did not have an impact to its disclosures, financial condition or results of operations as the Company is not subject to income taxes on its shipping income rather the Company’s vessels are liable for tax based on the tonnage of the vessel, under the regulations applicable to the country of incorporation of the vessel owning company, which is included within vessels’ operating expenses.<b> </b></span></p> <p id="xdx_843_eus-gaap--ConsolidationPolicyTextBlock_zSey1lp8xAw5" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) <span id="xdx_86F_zeQgn23ijMM3">Principles of Consolidation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries; the Company has no other interests. All significant intercompany balances and transactions have been eliminated in the Company’s consolidated financial statements.</span></p> <p id="xdx_846_eus-gaap--UseOfEstimates_zA6MlJbKECC" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) <span id="xdx_861_ztEMuL3tOHT5">Use of Estimates</span></b> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions and/or conditions.</span></p> <p id="xdx_847_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zC4p5MZgtw9d" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(d) <span id="xdx_861_zPOspTh6FL56">Cash and cash equivalents</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.</span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z56VGH5bCIDe" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(e) <span><span id="xdx_868_zccKfSrdUGKj">Restricted cash and other instruments</span></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash consists of retention accounts which are restricted in use and held in order to service debt and interest payments. In addition, restricted cash consists of pledged cash maintained with lenders and funds reserved for future drydockings. Also includes restricted cash received in advance from charterers for future charter service. Other instruments relate to held-to-maturity securities, received in advance from charterers for future charter service with maturities exceeding the three months. Since the Company intends to hold these securities to maturity, these securities are classified as held to maturity under ASC 320 measuring them at amortized cost, applying the effective interest rate method for income recognition. The Company assesses credit losses on held-to-maturity securities per ASC 326-20. Because these securities are guaranteed by the U.S. government, expected credit losses are minimal and no allowance has been made.</span></p> <p id="xdx_844_ecustom--InsurancePolicyTextBlock_zHkppd3rCPBc" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(f) <span id="xdx_86B_zohFnvWMN791">Insurance claims</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurance claims consist of claims submitted and/or claims in the process of compilation or submission. They are recorded on an accrual basis and represent the claimable expenses, net of applicable deductibles, incurred through December 31 of each reported period, which are probable to be recovered from insurers. Any outstanding costs to complete the claims are included in accrued liabilities. The classification of insurance claims into current and non-current assets is based on management’s expectation as to the collection dates.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p id="xdx_846_eus-gaap--InventoryPolicyTextBlock_zCft47fPxJB9" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(g) <span id="xdx_86A_zoZmFwbbmXD3">Inventories</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist of bunkers, lubricants, stores and provisions. Inventories are stated at the lower of cost or net realizable value as determined using the first-in, first-out method. Inventories include also EU Allowances (“EUAs”), which are also stated at the lower of cost or net realizable value.</span></p> <p id="xdx_841_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zUwVQDC7lINd" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(h) <span id="xdx_86F_zU1nK0z9w4q1">Accounts receivable, net</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company carries its accounts receivable at cost less, if appropriate, an allowance for doubtful accounts, based on a periodic review of accounts receivable, taking into account past write-offs, collections and current credit conditions. The Company does not generally charge interest on past-due accounts. Allowances for doubtful accounts amount to $nil as of December 31, 2025 (2024: $nil). As of December 31, 2025, accounts receivable, net, include $<span id="xdx_90D_ecustom--EuaOutstandingReceivable_iI_pn3n3_c20251231_z5VFmgTcQoFg" title="Outstanding EUA's receivables">34,665</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">relating</span> to EUA receivables from charterers (2024: $<span id="xdx_90E_ecustom--EuaOutstandingReceivable_iI_pn3n3_c20241231_zHgn8izORSz2" title="Outstanding EUA's receivables">9,190</span>) and $<span id="xdx_90B_ecustom--FuelEuOutstandingReceivable_iI_pn3n3_c20251231_z6byz7fpZIJg" title="Outstanding Fuel EU's receivables">10,531</span> relating to Fuel EU receivables from charterers (2024: $nil). <span id="xdx_904_ecustom--FuelEuOutstandingReceivable_iI_pn3n3_c20241231_z0RSPGW2zcAg" style="display: none" title="Outstanding Fuel EU's receivables">0 </span> <span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20241231_zGn9HZ8uxkDj" style="display: none" title="Allowances of doubtful accounts"><span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20251231_zonFcos2oHnh" title="Allowances of doubtful accounts">0 </span></span> </p> <p id="xdx_84A_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zqZSe7mt8PJ3" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(i) <span id="xdx_86B_zBvGjUXBafne">Vessels in operation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels are generally recorded at their historical cost, which consists of the acquisition price and any material expenses incurred upon acquisition, adjusted for the fair value of intangible assets or liabilities associated with above or below market charters attached to the vessels at acquisition. See Intangible Assets and Liabilities at Note 2(l) below. Vessels acquired in a corporate transaction accounted for as an asset acquisition are stated at the acquisition price, which consists of consideration paid, plus transaction costs, considering pro rata allocation based on vessels fair value at the acquisition date. Vessels acquired in a corporate transaction accounted for as a business combination are recorded at fair value. Vessels acquired as part of the Marathon Merger in 2008 were accounted for under ASC 805, which required that the vessels be recorded at fair value, less the negative goodwill arising as a result of the accounting for the merger.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent expenditures for major improvements and upgrades are capitalized, provided they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borrowing costs incurred during the construction of vessels or as part of the prefinancing of the acquisition of vessels are capitalized. There was <span id="xdx_906_eus-gaap--InterestCostsCapitalized_do_c20250101__20251231_zDNNZvfwzqta" title="Capitalized interest"><span id="xdx_908_eus-gaap--InterestCostsCapitalized_do_c20240101__20241231_zr7UmR3cpAt8" title="Capitalized interest"><span id="xdx_90B_eus-gaap--InterestCostsCapitalized_do_c20230101__20231231_zEwjDATsh4mc" title="Capitalized interest">no</span></span></span> capitalized interest for the years ending December 31, 2025, 2024 and 2023.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels are stated less accumulated depreciation and impairment, if applicable. Vessels are depreciated to their estimated residual value using the straight-line method over their estimated useful lives which are reviewed on an ongoing basis to ensure they reflect current technology, service potential and vessel structure. The useful lives are estimated to be <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231_zvLFafKBTtQ3">30</span> years from original delivery by the shipyard.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management estimates the residual values of the Company’s container vessels based on a scrap value cost of steel times the weight of the vessel noted in lightweight tons (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revision of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Management estimated the residual values of its vessels based on scrap rate of $<span id="xdx_905_ecustom--EstimatedResidualValueShipsPerLightweightTon_pp0p0_c20250101__20251231_z0kMj28J4bql" title="Estimated residual scrap value of vessels per lightweight ton (LWT)">400</span> per LWT.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cost and related accumulated depreciation of assets retired or sold are removed from the accounts at the time of sale or retirement and any gain or loss is included in the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p id="xdx_84C_ecustom--AssetsHeldForSalePolicyTextBlock_z6o7eEW16qh3" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(j) <span id="xdx_86F_zcaveXAtF8sk">Assets Held for Sale</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies assets and disposal groups as being held for sale when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within <span id="xdx_909_ecustom--TransferOfDisposalGroupAssetIsExpectedToQualifyForRecognitionCompletionOfSalePeriod_pp0p0_c20250101__20251231_z2RbbuLdmwG6">one year</span>; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. As of December 31, 2024, Tasman, which was agreed to be sold for a sale price of $<span id="xdx_906_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_d0_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMarineLLCMember_zvPScdb4Hoxg">31,500</span>, did not meet the criteria as held for sale, as it was under charter and not available for immediate sale. Tasman was sold on <span id="xdx_90F_ecustom--VesselSaleDate_c20250101__20250531__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMarineLLCMember_zoDoL3sZwQfl">March 10, 2025</span> (see Note 4).</span></p> <p id="xdx_848_eus-gaap--DeferredChargesPolicyTextBlock_zHlbyYNnh4M4" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(k) <span id="xdx_860_zoGCcUZuIURj">Deferred dry dock and special survey costs, net</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Drydocking costs are reported in the Consolidated Balance Sheets within “Deferred dry dock and special survey costs, net”, and include planned major maintenance and overhaul activities for ongoing certification. The Company follows the deferral method of accounting for drydocking costs, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period of five years until approximately the next scheduled drydocking. Any remaining unamortized balance from the previous drydocking is written-off.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amortization period reflects the estimated useful economic life of the deferred dry dock and special survey costs, which is the period between each drydocking. Costs incurred during the drydocking relating to routine repairs and maintenance are expensed. The unamortized portion of drydocking costs for vessels sold is included as part of the carrying amount of the vessel in determining the gain or (loss) on sale of the vessel.</span></p> <p id="xdx_847_eus-gaap--IntangibleAssetsFiniteLivedPolicy_z3wp1yrfPgqk" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(l) <span id="xdx_86C_zcdZQuxbcQl9">Intangible assets and liabilities – charter agreements</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s intangible assets and liabilities consist of unfavorable lease terms on charter agreements acquired in assets acquisitions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an intangible asset is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel and equivalent duration of charter party at the date the vessel is delivered. Where charter rates are less than market charter rates, an intangible liability is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates (including duration), the level of utilization of its vessels and its weighted average cost-of capital (“WACC”). The estimated market charter rate (including duration) is considered a significant assumption. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the relevant lease term and the amortization expense or income respectively is included under the caption “Amortization of intangible liabilities-charter agreements” in the Consolidated Statements of Income. For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p id="xdx_849_eus-gaap--PropertyPlantAndEquipmentImpairment_zYjF6Nkcpux7" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(m) <span id="xdx_869_z1uED90f7rD3">Impairment of Long-lived assets</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tangible fixed assets, such as vessels, that are held and used or to be disposed of by the Company are reviewed for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. In these circumstances, the Company performs step one of the impairment test by comparing the undiscounted projected net operating cash flows for each vessel group to its carrying value. A vessel group comprises the vessel, the unamortized portion of deferred drydocking related to the vessel and the related carrying value of the intangible asset or liability (if any) with respect to the time charter attached to the vessel at its purchase. If the undiscounted projected net operating cash flows of the vessel group are less than its carrying amount, management proceeds to step two of the impairment assessment by comparing the vessel group’s carrying amount to its fair value, including any applicable charter, and an impairment loss is recorded equal to the difference between the vessel group’s carrying value and fair value. Fair value is determined with the assistance from valuations obtained from third party independent ship brokers.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--FutureCharterRateAssumptions_c20250101__20251231_z4ZNCO4EfBnb" title="Future charter rate assumptions">The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet (iii) operating costs, based on current levels escalated over time based on long term trends (iv) dry docking frequency, duration and cost (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue assumptions are based on contracted charter rates up to the end of the existing contract of each vessel, and thereafter, estimated time charter rates for the remaining life of the vessel. The estimated time charter rate used for non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container shipping industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that using forecast charter rates in the four years from the date of the impairment assessment and a reversion to the historical mean of time charter rates thereafter, represents a reasonable benchmark for the estimated time charter rates for the non-contracted revenue days, and takes into account the volatility and cyclicality of the market.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2025, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2025.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2024, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2024.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2023, the Company noted that events and circumstances triggered the existence of potential impairment for some of the Company’s vessel groups. These indicators included volatility in the charter market and the vessels’ market values, as well as the potential impact of the current container sector on management’s expectation for future revenues. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was required for two vessel groups, as their undiscounted projected net operating cash flows did not exceed their carrying value. As a result, the Company recorded an impairment loss of $<span id="xdx_908_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_zw5Kn6JUBvF2">18,830</span> for two vessel groups with a total aggregate carrying amount of $<span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_z0JwyjlagOc4">43,830</span> which was written down to their fair value of $<span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_z7A3SfjqsCZj">25,000</span> (see Note 4). </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p id="xdx_844_eus-gaap--DebtPolicyTextBlock_zBHwt7gTM44f" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(n) <span id="xdx_862_zDUMuNHNMHPi">Deferred financing costs</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs incurred in connection with obtaining long-term debt and in obtaining amendments to existing facilities are recorded as deferred financing costs and are amortized to interest expense using the effective interest method over the estimated duration of the related debt. Such costs include fees paid to the lenders or on the lenders’ behalf and associated legal and other professional fees. Debt issuance costs, other than any up-front arrangement fee for revolving credit facilities, related to a recognized debt liability are presented as a direct deduction from the carrying amount of that debt.</span></p> <p id="xdx_84D_ecustom--PreferredSharesPolicyTextBlock_z1Si107dUDjb" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(o) <span id="xdx_86A_zPnHnMsDWIx6">Preferred shares</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A total of <span><span id="xdx_901_eus-gaap--PreferredStockSharesIssued_iI_c20140831__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z6QqTgIZHMt4">14,000</span></span> of the Company’s <span id="xdx_909_eus-gaap--PreferredStockDividendRatePercentage_dp_uPure_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z72NWFPUtvK">8.75</span>% Series B Cumulative Redeemable Perpetual Preferred Shares (“Series B Preferred Shares”) were originally issued in August 2014 and have been included within Equity in the Consolidated Balance Sheets since their initial issue in August 2014. Additional Series B Preferred Shares were issued in 2019, 2020 and 2021. Dividends on the Series B Preferred Shares are presented as a reduction of Retained Earnings or addition to Accumulated Deficit in the Consolidated Statements of Changes in Shareholders’ Equity as their nature is similar to that of an equity instrument rather than a liability. Holders of Series B Preferred Shares, which may only be redeemed at the discretion of the Company, are entitled to receive a dividend equal to <span id="xdx_909_eus-gaap--PreferredStockDividendRatePercentage_dp_uPure_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zzvIaiX2TwU5">8.75</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% per annum on the stated liquidation preference, should such dividend be declared, and rank senior to the common shares with respect to dividend rights and rights upon liquidation, dissolution or winding up of the Company.</span></p> <p id="xdx_842_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_zLB1zrARrW44" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(p) <span id="xdx_860_zrcWOhyS9o05">Other comprehensive income</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other comprehensive income, which is reported in the Consolidated Statements of Changes in Shareholders’ Equity, consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. Under ASU 2011-05, an entity reporting comprehensive income in a single continuous financial statement shall present its components in two sections, net income and other comprehensive income.</span></p> <p id="xdx_84C_eus-gaap--RevenueRecognitionPolicyTextBlock_zyykreWjdbW" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(q) <span id="xdx_865_zGDfKhSDBgCc">Revenue recognition and related expense</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company charters out its vessels on time charters which involves placing a vessel at a charterer’s disposal for a specified period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Such charters are accounted for as operating leases and therefore revenue is recognized on a straight-line basis as the average revenues over the rental periods of such charter agreements, as service is performed. Cash received in excess of earned revenue is recorded as deferred revenue. If a time charter contains one or more consecutive option periods, then subject to the options being exercisable solely by the Company, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter, including any options which are more likely than not to be exercised. If a time charter is modified, including the agreement of a direct continuation at a different rate, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter from the date of modification, adjusted for any prepaid or accrued balance from the original lease, generally on a straight-line basis over the new lease term (the remaining balance from the original lease, adjusted for the additional or terminated periods). During the years ended December 31, 2025, 2024 and 2023, amounts of $<span id="xdx_903_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_iN_pn3n3_di_c20250101__20251231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zOr8bQtIBJOf">4,012</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">loss, $<span id="xdx_90C_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_iN_pn3n3_di_c20240101__20241231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zkqgZOfUI2J8">8,823</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">loss and $<span id="xdx_90D_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_iN_pn3n3_di_c20230101__20231231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zaJe4zH8EZa6">4,025</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">loss, respectively, were recorded in time charter-revenues for such modifications and revenues recognized on a straight-line basis. Any difference between the charter rate invoiced and the time charter revenue recognized is classified as, or released from, deferred revenue. As of December 31, 2025, current asset and non-current asset from implementing the straight-line basis, amounting to $<span id="xdx_905_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__us-gaap--PrepaidExpensesAndOtherCurrentAssetsMember_zpRd7Onk71md">12,643</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_90E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__us-gaap--PrepaidExpensesAndOtherCurrentAssetsMember_zKdJEB0wLxwf">9,657</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_903_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--PrepaidExpensesAndOtherCurrentAssetsMember_zg3goWtFLlO6">9,027</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively) and $<span id="xdx_90D_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherNoncurrentAssetsMember_zE6e548uAxP4">10,344</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_905_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherNoncurrentAssetsMember_zJvB5Q8nlFI6">19,670</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90A_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherNoncurrentAssetsMember_zieyerGJXHq7">15,139</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively), respectively, are presented in the Consolidated Balance Sheets in the line item “Prepaid expenses and other current assets” and “Other non-current assets”, respectively. As of December 31, 2025, current liability and non-current liability from implementing the straight-line basis, amounting to $<span id="xdx_90E_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__custom--CurrentPortionOfDeferredRevenueMember_zQ8pU8PubMZc">8,624</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_905_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__custom--CurrentPortionOfDeferredRevenueMember_z32fTIXqz6E2">5,310</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_905_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__custom--CurrentPortionOfDeferredRevenueMember_ztTKqyZ16aK">113</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively) and $<span id="xdx_907_eus-gaap--DeferredRevenueNoncurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__custom--DeferredRevenueNetOfCurrentPortionMember_zxIfiFo4ooHe">3,797</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_907_eus-gaap--DeferredRevenueNoncurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__custom--DeferredRevenueNetOfCurrentPortionMember_zJQnaomDIWri">9,438</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_900_eus-gaap--DeferredRevenueNoncurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__custom--DeferredRevenueNetOfCurrentPortionMember_zjqKeTHPx2li">651</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively), are presented in the Consolidated Balance Sheets in the line item “Current portion of deferred revenue” and “Deferred revenue, net of current portion”, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(q) Revenue recognition and related expense (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues are recorded net of address commissions, which represent a discount provided directly to the charterer based on a fixed percentage of the agreed upon charter rate. Charter revenue received in advance which relates to the period after a balance sheet date is recorded as deferred revenue within current liabilities until the respective charter services are rendered.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under time charter arrangements the Company, as owner, is responsible for all the operating expenses of the vessels, such as crew costs, insurance, repairs and maintenance, and such costs are expensed as incurred and are included in vessel operating expenses.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission paid to brokers to facilitate the agreement of a new charter are included in time charter and voyage expenses as are certain expenses related to a voyage, such as the costs of bunker fuel consumed when a vessel is off-hire or idle.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leases:</b> In cases of lease agreements where the Company acts as the lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the Consolidated Balance Sheets. Following initial recognition and with regards to subsequent measurement the Company remeasures lease liability and right of use asset at each reporting date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leases where the Company acts as the lessor are classified as either operating or sales-type / direct financing leases.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In cases of lease agreements where the Company acts as the lessor under an operating lease, the Company keeps the underlying asset on the Consolidated Balance Sheets and continues to depreciate the assets over its useful life. In cases of lease agreements where the Company acts as the lessor under a sales-type / direct financing lease, the Company derecognizes the underlying asset and records a net investment in the lease. The Company acts as a lessor under operating leases in connection with all of its charter out - bareboat-out arrangements.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In cases of sale and leaseback transactions, if the transfer of the asset to the lessor does not qualify as a sale, then the transaction constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the non-lease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as the lease components are the predominant characteristics.</span></p> <p id="xdx_845_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zMDXBNqv7tle" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(r) <span id="xdx_86C_zr7hxkj4uXs9">Foreign currency transactions</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s functional currency is the U.S. dollar as substantially all revenues and a majority of expenditures are denominated in U.S. dollars. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet dates. Expenses paid in foreign currencies are recorded at the rate of exchange at the transaction date. Exchange gains and losses are included in the determination of Net Income.</span></p> <p id="xdx_840_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zkjTUEOoDtu5" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(s) <span id="xdx_86B_z5dWMNprgTl">Stock-based compensation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has awarded incentive stock awards to its senior management and Directors, among others, as part of their compensation.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For share-based employee compensation that is classified as equity, the associated compensation cost is recognized over the requisite service period. The requisite service period is the period during which an employee is required to provide services in exchange for an award, which often is the vesting period.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(s) Stock-based compensation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Using the graded vesting method of expensing the incentive stock awards, the weighted average fair value of the stock awards is recognized as compensation costs in the Consolidated Statements of Income over the vesting period. The fair value of the incentive stock awards for time vesting and performance based awards is calculated by multiplying the number of shares of stock by the fair value of the shares at the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s performance-based compensation expenses are calculated based on the valuation at the grant date, and recognized based on the probability of achieving those targets. The Company assesses the probability of the performance targets being achieved at each balance sheet date, and expenses are recognized accordingly.</span></p> <p id="xdx_843_eus-gaap--IncomeTaxPolicyTextBlock_z7GRcL4sDfqf" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(t) <span id="xdx_862_zoffr80dR8Uf">Income taxes</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and its Marshall Island subsidiaries are exempt from taxation in the Marshall Islands. Otherwise, the Company’s vessels are liable for tax based on the tonnage of the vessel, under the regulations applicable to the country of incorporation of the vessel owning company, which is included within vessels’ operating expenses. Certain inactive Hong Kong subsidiaries (one was dissolved in 2025 and two remain inactive as of December 31, 2025) are also liable for income tax on interest income earned from non-shipping activities.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had <span id="xdx_90C_ecustom--NumberOfSubsidiaries_dc_uPure_c20250101__20251231__srt--StatementGeographicalAxis__country--GB_z4U38XnQfEw5">one</span> subsidiary in the United Kingdom that was dissolved on September 24, 2024, and no tax is anticipated.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based solely on the technical merits of the position.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_ecustom--DividendsPolicyTextBlock_zK6SrU63ZYQ3" style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(u) <span id="xdx_861_zeT6UteK2VHg">Dividends</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span> </span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends are recorded in the period in which they are declared by the Board of Directors of the Company (the “Board of Directors”). Dividends to be paid are presented in the Consolidated Balance Sheets in the line item “Accrued Liabilities”.</span></p> <p id="xdx_84F_eus-gaap--EarningsPerSharePolicyTextBlock_zKMCCvbKiWf1" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(v) <span id="xdx_865_z35cMh3smpc5">Earnings per share</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per common share are based on income available to common shareholders divided by the weighted average number of common shares outstanding during the period, excluding unvested stock awards. Diluted income per common share is calculated by applying the treasury stock method. All unvested stock awards that have a dilutive effect are included in the calculation. The basic and diluted earnings per share for the period are presented for each category of participating common shares under the two-class method.</span></p> <p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zwUhidYQTHK6" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(w) <span id="xdx_86E_zeVLCddiTAZk">Risks Associated with Concentration</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is exposed to certain concentration risks that may adversely affect the Company’s financial position in the near term:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) The Company derives its revenue from liner companies which are exposed to the cyclicality of the container shipping industry. For operating revenue from significant customers constituting more than 10% of total time charter revenue, refer to Note 13.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) There is a minimum concentration of credit risk with respect to cash and cash equivalents at December 31, 2025, to the extent that substantially all of the amounts are deposited with <span id="xdx_902_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20251231_ztfnUdFKjwMj">eight</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">banks (2024: <span id="xdx_905_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20241231_zUsJ9jfs0kM">eight</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">banks). The Company believes this risk is remote as the banks are high credit quality financial institutions.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zoHUpDFG7kDh" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(x) <span id="xdx_865_zLEEs1PfvdHg">Segment Reporting</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derives its revenues from chartering vessels to liner companies. The Company reports financial information and evaluates its operations by charter revenues and not by the length of ship employment for its customers. The Company does not use discrete financial information to evaluate operating results for each vessel or type of charter. Management does not identify expenses, profitability or other financial information by vessel or charter type. The Company’s Executive Chairman, Chief Executive Officer and Chief Financial Officer, collectively, who are the Chief Operating Decision Maker ("CODM"), review operating results solely by revenue per day and consolidated net income of the fleet and thus the Company has determined that it operates under <span id="xdx_90E_eus-gaap--NumberOfReportableSegments_dc_uPure_c20250101__20251231_zxpBr3qngxG4">one</span> operating and reportable segment. Consolidated vessel operating expense information presented within the Consolidated Statements of Income are considered to be significant expenses. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable.</span></p> <p id="xdx_849_eus-gaap--FairValueOfFinancialInstrumentsPolicy_z7S1f3ff2r82" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) <span id="xdx_861_zLEDOWbBs4bf">Fair Value Measurement and Financial Instruments</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments carried on the Consolidated Balance Sheets include cash and cash equivalents, restricted cash and other instruments, time deposits, trade receivables and payables, other receivables and other liabilities, amounts due to/from related parties, derivatives and long-term debt. The particular recognition methods applicable to each class of financial instrument are disclosed in the applicable significant policy description of each item or included below as applicable.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Fair value measurement:</i></b> Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The hierarchy is broken down into three levels based on the observability of inputs as follows:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 1</b> – Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 2</b> – Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 3</b> – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair value of assets and liabilities</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following methods and assumptions were used to estimate the fair value of each class of financial instrument:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash and cash equivalents, restricted cash and other instruments, time deposits, amounts due to/from related parties:</b> The carrying amounts reported in the Consolidated Balance Sheets for these balances approximate their fair value because of the short maturity or short-term nature of these balances.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Long-term debt, including current portion, net:</b> The carrying value of our long term bank loans and sale and leaseback agreements continues to approximate its fair value generally due to their variable interest rates. The carrying value has been adjusted to reflect the net presentation of deferred finance costs.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) Fair Value Measurement and Financial Instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated fair values of the Company’s financial instruments are as follows:</span></p> <p id="xdx_89E_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zoEufhX7absa" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_8B9_zWfWce2i6lYe" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value Measurement (Table)</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="5" id="xdx_49B_20251231_z2WGWkrlTnS5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="5" id="xdx_493_20241231_zHd1IIgVvJP" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Book Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Book Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zuY436JTBvQl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zp5BihCHXQMd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z4ncZPnMoHta" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zvOj7yBqdy0c" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_ze0cVkPSoLA4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zp8OyeJTWp41" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z44o0XQe48ra" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z1CbhvD3Ekif" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,150</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and other instruments</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zF8VvwvuaWa1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zTSkFwPg4tD" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zQcgaO7h6f7l" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zGMqPDrzJCf8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zb7a9L1ZqG3g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zZ7yKbOR88bl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zX6sT4Ub6KN9" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zamiTMrFLkL5" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_909_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zfWKdzKhSese" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_908_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zuko7qB3zDll" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1284"><span style="-sec-ix-hidden: xdx2ixbrl1285">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zC6BZYf8Cer" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zhCMSSKzav0g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z7r3sLlQCCde" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zP0u3KUyOLDc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">342</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_902_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zqZcVzEl5uyc" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90B_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zklNMxqP9Wpb" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1294"><span style="-sec-ix-hidden: xdx2ixbrl1295">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zredZIYbN0A2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zOiUe0HJVqxe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zmBaFo4DLwVb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zxRrt6VhER9f" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(723)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z1658o3ef7bc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (689,142)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zJU5KkFIaiZf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zwRB897d47n2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(684,057)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zv8E0WigKPZd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(691,099)</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 0pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" id="xdx_492_20251231_zcOOIokSjwUi" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value Measurements as at December 31, 2025</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level I</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level II</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level III</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zOVO1TsxSsci" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zKwtQstz54V2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zKYTeOzs1vb2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9rdX3bwSQEl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zHE7jE3nvx9d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z5kKZTUzJPD7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z28lTonLGAAl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z2nhu2ZwgYR7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and other instruments</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zVe34V4LjOV2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zEOiPFV5wbek" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zs7E0NCXtJrb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zFp3qfvxlQuj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zpNN9qWP2Fec" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zWMgqa0qV7U1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zjb6J6mrmj63" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zTlf4jjt10R6" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90E_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zhxlxDGQo7eh" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90B_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_z7NUbW4LEwma" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1344"><span style="-sec-ix-hidden: xdx2ixbrl1345">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zLiOLJZtrPRl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zOxbqqewuRd6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zCIzrPbX69F1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zAmRwnWCK9Ua" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90D_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zOoRQsAPrIWi" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90A_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zlughbroZYsj" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1354"><span style="-sec-ix-hidden: xdx2ixbrl1355">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zELTuXOLz6t3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zQpsoxlqq091" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zvKAfgAwyQtj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zQLHHv8MrGy3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zXsDPat20C93" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zgMXWGmLstp4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_ztbE9vXG0pJ6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zuIyPOWgUna7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 0pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" id="xdx_495_20241231_zajaqtDGPCG1" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value Measurements as at December 31, 2024</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level I</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level II</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level III</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z9tXwwfpurn8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6UZqv0jXH74" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zh60YlvaADJi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwNNshD3b8K" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zZ97Njkd8Bi9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zh86W6uQSx6e" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zuEavIKcv3sl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdz2sHuVDquh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z4wByyZ47tA5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z5AkKZRkmlSf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z6ZxaOHKGTHl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zycPMZjFSDX3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zHMiS8UYYivk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zGbOM7yCrpbe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z3OdBlUU6FLj" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zq5bKbXkoeH9" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_903_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zP2hb0AHal17" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_901_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zQKkg1roivXk" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1404"><span style="-sec-ix-hidden: xdx2ixbrl1405">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zGXpihSaF0C1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z3YFILds2KMe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zg6T17lk8iqc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwJp2pDPpHl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_903_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zYgARH5FhNEf" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_907_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zWCP0n3XtYa3" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1414"><span style="-sec-ix-hidden: xdx2ixbrl1415">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zczicmNlyAjc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zZk4qjeJSce3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zeKQEUdV1ngh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z34xJnUhcBf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zqbgevFyscla" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (691,099)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zJqYmuYVjdJd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zujSQzjuOJPe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(691,099)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9Y3q1FR899h" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> </table> <p id="xdx_8AE_zqL6AmraBqbc" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) Fair Value Measurement and Financial Instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_90F_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zotwa2rfAIj2">484,106</span>, which amortizes over time as the Company’s outstanding debt balances decline. In February 2022, the Company further hedged its exposure by putting in place <span id="xdx_908_ecustom--IntrerestRateCapsNumber_dcp_uPure_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z4EP6GdZ45X9">two</span> USD one-month LIBOR interest rate caps of <span id="xdx_905_eus-gaap--DerivativeCapInterestRate_iI_dp_uPure_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zo3yyyGmN4Ql">0.75</span>% through <span id="xdx_901_ecustom--DerivativeMaturityDates1_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zQEMd0VeE8H">fourth quarter 2026</span>, on $<span id="xdx_906_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zb1NFVxY3Lae">507,891</span> of its floating rate debt. The second-interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $<span id="xdx_90D_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20250101__20251231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_znK7uHNffcjh">4,952</span> as of December 31, 2025, was recorded through Consolidated Statements of Income ($<span id="xdx_900_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20240101__20241231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zxTcxp7DTzck">5,170</span> negative fair value adjustment and $<span id="xdx_90D_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20230101__20231231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zbn7YrfUQr3l">5,372</span> negative fair value adjustment for December 31, 2024, and 2023, respectively). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. The Company is designating certain future interest payments on its outstanding variable-rate debt as the hedged item in this relationship. Under ASC 815-20-25-106e, “for cash flow hedges of the interest payments on only a portion of the principal amount of the interest-bearing asset or liability, the notional amount of the interest rate cap designated as the hedging instrument matches the principal amount of the portion of the asset or liability on which the hedged interest payments are based”. In this case, <span id="xdx_907_eus-gaap--DerivativeDescriptionOfHedgedItem_c20250101__20251231_zcSId19Tewhk">the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span>. During 2023, all Company’s loan agreements have been amended and restated to take into effect the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”) and the relevant provisions on a replacement rate. In addition, the Company’s interest rate caps automatically transited to <span id="xdx_90F_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20230101__20231231_zsHoJfISZvM" title="Interest Rate Description">1-month Compounded SOFR</span> on July 1, 2023, at a level of <span id="xdx_907_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20230101__20231231_ztDktzJOnnpb" title="Basis Spread on Variable Rate">0.64</span>%. The Company assesses the effectiveness of the hedges on an ongoing basis. The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, 2024 and 2023, following a quantitative assessment, part of the hedges were no longer considered effective and an amount of $nil, ($<span id="xdx_903_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20240101__20241231_zMN5CbZAfqP2" title="Unrealized gain on the interest rate caps">877</span>) and ($<span id="xdx_905_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20230101__20231231_zCOfUdf6ZDD4" title="Unrealized gain on the interest rate caps">214</span>), respectively, was reclassified to other comprehensive income to the Consolidated Statements of Income. <span style="display: none"><span id="xdx_902_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_di_c20250101__20251231_zO1kZMcr5eld" title="Unrealized gain on the interest rate caps">0</span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The objective of the hedges is to reduce the variability of cash flows associated with the interest rates relating to the Company’s variable rate borrowings. When derivatives are used, the Company is exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, <i>Derivatives and Hedging</i>, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs – Level 2 inputs).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 4, 2024, <span id="xdx_90D_eus-gaap--DescriptionOfForeignCurrencyDerivativeActivities_pn3n3_c20240101__20240404__us-gaap--DerivativeInstrumentRiskAxis__custom--FXOptionMember_zHmv1e2NLLPc">the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements, starting April 11, 2024, and ended March 13, 2025. The strike price was EURUSD 1.10</span>. The Company entered to this option to hedge the downside foreign exchange risk associated with expenses denominated in EUR against fluctuations between the US Dollar and Euro. This FX option was designated as a cash flow hedge of anticipated expenses totaling €3,000, expected to occur each month. Changes in the fair value of the option other than “intrinsic value” were excluded from the assessment of effectiveness. The effectiveness of the hedging relationship were periodically assessed during the life of the hedge by comparing the terms of the option and the forecasted expenses to ensure that they continued to coincide. Should the critical terms no longer matched exactly, hedge effectiveness (both prospective and retrospective) was assessed by evaluating the dollar-offset ratio of the spot intrinsic value of the actual option contract and a hypothetically perfect option contract.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Financial Risk Management:</i></b> The Company activities expose it to a variety of financial risks including fluctuations in, time charter rates, credit and interest rates risk. Risk management is carried out under policies approved by executive management. Guidelines are established for overall risk management, as well as specific areas of operations.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) Fair Value Measurement and Financial Instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Credit Risk:</i></b> The Company closely monitors its credit exposure to customers and counter-parties for credit risk. The Company has entered into commercial management agreement with Conchart Commercial Inc. (“Conchart”), pursuant to which Conchart has agreed to provide commercial management services to the Company, including the negotiation, on behalf of the Company, of vessel employment contracts (see Note 14). Conchart has policies in place to ensure that it trades with customers and counterparties with an appropriate credit history. Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and cash and cash equivalents and time deposits. The Company does not believe its exposure to credit risk is likely to have a material adverse effect on its financial position, results of operations or cash flows.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity Risk:</i></b> Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Company monitors cash balances appropriately to meet working capital needs.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Foreign Exchange Risk:</i></b> Foreign currency transactions are translated into the measurement currency rates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the Consolidated Statements of Income.</span></p> <p id="xdx_842_eus-gaap--DerivativesPolicyTextBlock_zr1yL0MGpECg" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(z) <span id="xdx_868_z9EupzUkFN2a">Derivative instruments</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is exposed to interest rate risk relating to its variable rate borrowings. In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_906_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_ztDDR6CEypSd">484,106</span> (“December 2021 hedging”), which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This transaction is designated as a cash flow hedge, and under ASU 2017-12, cash flow hedge accounting allows all changes in fair value to be recorded through Other Comprehensive Income once hedge effectiveness has been established. Under ASC 815-30-35-38, amounts in accumulated other comprehensive income shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings (i.e., each quarter) and shall be presented in the same income statement line item as the earnings effect of the hedged item in accordance with paragraph 815-20-45-1A.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The premium paid related to this derivative was classified in the Consolidated Statements of Cash Flows as operating activities in the line item “Derivative asset”. The premium shall be amortized into earnings “on a systematic and rational basis over the period in which the hedged transaction affects earnings” (ASC 815-30-35-41A); that is, the Company will expense the premium over the life of the interest rate cap in accordance with the “caplet method”, as described in Derivatives Implementation Group (DIG) Issue G20. DIG Issue G20 dictates that the cost of the interest rate cap is recognized on earnings over time, based on the value of each periodic caplet. The cost per period will change as the caplet for that period changes in value. Given that the interest rate cap is forward-starting, expense of the premium will not begin until the effective start date of the interest rate cap, in order to match potential cap revenue with the cap expenses in the period in which they are incurred.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p><p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(z) Derivative instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2022, the Company purchased two interest rate caps with an aggregate notional amount of $<span id="xdx_90D_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z5IlpPmHJxL3">507,891</span>. The first interest rate cap of $253,946 which has been designated as a cash flow hedge, has the same accounting treatment as described above for the December 2021 hedging. The second interest rate cap was not designated as a cash flow hedge and a negative fair value adjustment of $<span id="xdx_908_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20250101__20251231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zF55TKqezIj8">4,952</span> as at December 31, 2025, was recorded through Consolidated Statements of Income ($<span id="xdx_906_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20240101__20241231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zNx0vBh7JZI3">5,170</span> negative fair value adjustment and $<span id="xdx_909_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20230101__20231231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zbT5HPLruRc3">5,372</span> negative fair value adjustment for December 31, 2024 and 2023, respectively). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, <span id="xdx_903_eus-gaap--DerivativeDescriptionOfHedgedItem_c20250101__20251231_zerAcoKjnlNa">the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span> (see Note 9). As of December 31, 2025, all Company’s loan agreements have been amended and restated to take into effect the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”) and the relevant provisions on a replacement rate. In addition, the Company’s interest rate caps automatically transited to <span id="xdx_90F_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20230101__20231231_ziz9WotUxBj5" title="Interest Rate Description">1-month Compounded SOFR</span> on July 1, 2023, at a level of <span id="xdx_90C_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20230101__20231231_zT8Vr3QsQfKb" title="Basis Spread on Variable Rate">0.64</span>%.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of December 31, 2025, interest rate cap notional amount covers ~75% of the outstanding floating debt. As of December 31, 2025, 2024 and 2023, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $nil, ($<span id="xdx_905_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20240101__20241231_zYHz7k3zVeT2" title="Unrealized gain on the interest rate caps">877</span>) and ($<span id="xdx_909_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20230101__20231231_zRRfPZVbZT37" title="Unrealized gain on the interest rate caps">214</span>), respectively, was reclassified to other comprehensive income to the Consolidated Statements of Income. <span style="display: none"><span id="xdx_907_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_di_c20250101__20251231_zdvwqKnFe7Q5" title="Unrealized gain on the interest rate caps">0</span></span></span></p> <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zrftc1HHGC6c" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(zi) <span id="xdx_86E_zUm0sO7AohSl">Recently issued accounting standards</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The standard is intended to enhance transparency of income statement disclosures primarily through additional disaggregation of relevant expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with prospective or retrospective application permitted. The Company is currently evaluating the potential impact of adopting this standard on the Company’s Consolidated Financial Statements and disclosures.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_85D_zCn62CmPpzv8" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_84C_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z1vOqsH2ezX6" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) <span id="xdx_86C_zVnRtZci4PI4">Basis of Presentation</span></b></span></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) Basis of Presentation (continued)</b></span></p> <p id="xdx_84F_eus-gaap--NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock_zybZB4ad90I6" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_86C_zY4lD3YXMOw8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Adoption of new accounting standards</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, which requires greater disaggregation of income tax disclosures. The new standard requires additional information to be disclosed with respect to the income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. This ASU should be applied prospectively for fiscal years beginning after December 15, 2024, with retrospective application permitted. The Company adopted this ASU prospectively for the period ending December 31, 2025, and it did not have an impact to its disclosures, financial condition or results of operations as the Company is not subject to income taxes on its shipping income rather the Company’s vessels are liable for tax based on the tonnage of the vessel, under the regulations applicable to the country of incorporation of the vessel owning company, which is included within vessels’ operating expenses.<b> </b></span></p> <p id="xdx_843_eus-gaap--ConsolidationPolicyTextBlock_zSey1lp8xAw5" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) <span id="xdx_86F_zeQgn23ijMM3">Principles of Consolidation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries; the Company has no other interests. All significant intercompany balances and transactions have been eliminated in the Company’s consolidated financial statements.</span></p> <p id="xdx_846_eus-gaap--UseOfEstimates_zA6MlJbKECC" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) <span id="xdx_861_ztEMuL3tOHT5">Use of Estimates</span></b> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions and/or conditions.</span></p> <p id="xdx_847_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zC4p5MZgtw9d" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(d) <span id="xdx_861_zPOspTh6FL56">Cash and cash equivalents</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.</span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_z56VGH5bCIDe" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(e) <span><span id="xdx_868_zccKfSrdUGKj">Restricted cash and other instruments</span></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash consists of retention accounts which are restricted in use and held in order to service debt and interest payments. In addition, restricted cash consists of pledged cash maintained with lenders and funds reserved for future drydockings. Also includes restricted cash received in advance from charterers for future charter service. Other instruments relate to held-to-maturity securities, received in advance from charterers for future charter service with maturities exceeding the three months. Since the Company intends to hold these securities to maturity, these securities are classified as held to maturity under ASC 320 measuring them at amortized cost, applying the effective interest rate method for income recognition. The Company assesses credit losses on held-to-maturity securities per ASC 326-20. Because these securities are guaranteed by the U.S. government, expected credit losses are minimal and no allowance has been made.</span></p> <p id="xdx_844_ecustom--InsurancePolicyTextBlock_zHkppd3rCPBc" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(f) <span id="xdx_86B_zohFnvWMN791">Insurance claims</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurance claims consist of claims submitted and/or claims in the process of compilation or submission. They are recorded on an accrual basis and represent the claimable expenses, net of applicable deductibles, incurred through December 31 of each reported period, which are probable to be recovered from insurers. Any outstanding costs to complete the claims are included in accrued liabilities. The classification of insurance claims into current and non-current assets is based on management’s expectation as to the collection dates.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p id="xdx_846_eus-gaap--InventoryPolicyTextBlock_zCft47fPxJB9" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(g) <span id="xdx_86A_zoZmFwbbmXD3">Inventories</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist of bunkers, lubricants, stores and provisions. Inventories are stated at the lower of cost or net realizable value as determined using the first-in, first-out method. Inventories include also EU Allowances (“EUAs”), which are also stated at the lower of cost or net realizable value.</span></p> <p id="xdx_841_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zUwVQDC7lINd" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(h) <span id="xdx_86F_zU1nK0z9w4q1">Accounts receivable, net</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company carries its accounts receivable at cost less, if appropriate, an allowance for doubtful accounts, based on a periodic review of accounts receivable, taking into account past write-offs, collections and current credit conditions. The Company does not generally charge interest on past-due accounts. Allowances for doubtful accounts amount to $nil as of December 31, 2025 (2024: $nil). As of December 31, 2025, accounts receivable, net, include $<span id="xdx_90D_ecustom--EuaOutstandingReceivable_iI_pn3n3_c20251231_z5VFmgTcQoFg" title="Outstanding EUA's receivables">34,665</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">relating</span> to EUA receivables from charterers (2024: $<span id="xdx_90E_ecustom--EuaOutstandingReceivable_iI_pn3n3_c20241231_zHgn8izORSz2" title="Outstanding EUA's receivables">9,190</span>) and $<span id="xdx_90B_ecustom--FuelEuOutstandingReceivable_iI_pn3n3_c20251231_z6byz7fpZIJg" title="Outstanding Fuel EU's receivables">10,531</span> relating to Fuel EU receivables from charterers (2024: $nil). <span id="xdx_904_ecustom--FuelEuOutstandingReceivable_iI_pn3n3_c20241231_z0RSPGW2zcAg" style="display: none" title="Outstanding Fuel EU's receivables">0 </span> <span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20241231_zGn9HZ8uxkDj" style="display: none" title="Allowances of doubtful accounts"><span id="xdx_90E_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20251231_zonFcos2oHnh" title="Allowances of doubtful accounts">0 </span></span> </p> 34665000 9190000 10531000 0 0 0 <p id="xdx_84A_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zqZSe7mt8PJ3" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(i) <span id="xdx_86B_zBvGjUXBafne">Vessels in operation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels are generally recorded at their historical cost, which consists of the acquisition price and any material expenses incurred upon acquisition, adjusted for the fair value of intangible assets or liabilities associated with above or below market charters attached to the vessels at acquisition. See Intangible Assets and Liabilities at Note 2(l) below. Vessels acquired in a corporate transaction accounted for as an asset acquisition are stated at the acquisition price, which consists of consideration paid, plus transaction costs, considering pro rata allocation based on vessels fair value at the acquisition date. Vessels acquired in a corporate transaction accounted for as a business combination are recorded at fair value. Vessels acquired as part of the Marathon Merger in 2008 were accounted for under ASC 805, which required that the vessels be recorded at fair value, less the negative goodwill arising as a result of the accounting for the merger.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent expenditures for major improvements and upgrades are capitalized, provided they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Borrowing costs incurred during the construction of vessels or as part of the prefinancing of the acquisition of vessels are capitalized. There was <span id="xdx_906_eus-gaap--InterestCostsCapitalized_do_c20250101__20251231_zDNNZvfwzqta" title="Capitalized interest"><span id="xdx_908_eus-gaap--InterestCostsCapitalized_do_c20240101__20241231_zr7UmR3cpAt8" title="Capitalized interest"><span id="xdx_90B_eus-gaap--InterestCostsCapitalized_do_c20230101__20231231_zEwjDATsh4mc" title="Capitalized interest">no</span></span></span> capitalized interest for the years ending December 31, 2025, 2024 and 2023.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels are stated less accumulated depreciation and impairment, if applicable. Vessels are depreciated to their estimated residual value using the straight-line method over their estimated useful lives which are reviewed on an ongoing basis to ensure they reflect current technology, service potential and vessel structure. The useful lives are estimated to be <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20251231_zvLFafKBTtQ3">30</span> years from original delivery by the shipyard.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management estimates the residual values of the Company’s container vessels based on a scrap value cost of steel times the weight of the vessel noted in lightweight tons (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revision of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Management estimated the residual values of its vessels based on scrap rate of $<span id="xdx_905_ecustom--EstimatedResidualValueShipsPerLightweightTon_pp0p0_c20250101__20251231_z0kMj28J4bql" title="Estimated residual scrap value of vessels per lightweight ton (LWT)">400</span> per LWT.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cost and related accumulated depreciation of assets retired or sold are removed from the accounts at the time of sale or retirement and any gain or loss is included in the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> 0 0 0 P30Y 400 <p id="xdx_84C_ecustom--AssetsHeldForSalePolicyTextBlock_z6o7eEW16qh3" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(j) <span id="xdx_86F_zcaveXAtF8sk">Assets Held for Sale</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies assets and disposal groups as being held for sale when the following criteria are met: management has committed to a plan to sell the asset (disposal group); the asset (disposal group) is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the asset (disposal group) have been initiated; the sale of the asset (disposal group) is probable, and transfer of the asset (disposal group) is expected to qualify for recognition as a completed sale within <span id="xdx_909_ecustom--TransferOfDisposalGroupAssetIsExpectedToQualifyForRecognitionCompletionOfSalePeriod_pp0p0_c20250101__20251231_z2RbbuLdmwG6">one year</span>; the asset (disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets or disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. These assets are not depreciated once they meet the criteria to be held for sale. As of December 31, 2024, Tasman, which was agreed to be sold for a sale price of $<span id="xdx_906_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_d0_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMarineLLCMember_zvPScdb4Hoxg">31,500</span>, did not meet the criteria as held for sale, as it was under charter and not available for immediate sale. Tasman was sold on <span id="xdx_90F_ecustom--VesselSaleDate_c20250101__20250531__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMarineLLCMember_zoDoL3sZwQfl">March 10, 2025</span> (see Note 4).</span></p> P1Y 31500000 March 10, 2025 <p id="xdx_848_eus-gaap--DeferredChargesPolicyTextBlock_zHlbyYNnh4M4" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(k) <span id="xdx_860_zoGCcUZuIURj">Deferred dry dock and special survey costs, net</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Drydocking costs are reported in the Consolidated Balance Sheets within “Deferred dry dock and special survey costs, net”, and include planned major maintenance and overhaul activities for ongoing certification. The Company follows the deferral method of accounting for drydocking costs, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period of five years until approximately the next scheduled drydocking. Any remaining unamortized balance from the previous drydocking is written-off.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amortization period reflects the estimated useful economic life of the deferred dry dock and special survey costs, which is the period between each drydocking. Costs incurred during the drydocking relating to routine repairs and maintenance are expensed. The unamortized portion of drydocking costs for vessels sold is included as part of the carrying amount of the vessel in determining the gain or (loss) on sale of the vessel.</span></p> <p id="xdx_847_eus-gaap--IntangibleAssetsFiniteLivedPolicy_z3wp1yrfPgqk" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(l) <span id="xdx_86C_zcdZQuxbcQl9">Intangible assets and liabilities – charter agreements</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s intangible assets and liabilities consist of unfavorable lease terms on charter agreements acquired in assets acquisitions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an intangible asset is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel and equivalent duration of charter party at the date the vessel is delivered. Where charter rates are less than market charter rates, an intangible liability is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates (including duration), the level of utilization of its vessels and its weighted average cost-of capital (“WACC”). The estimated market charter rate (including duration) is considered a significant assumption. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the relevant lease term and the amortization expense or income respectively is included under the caption “Amortization of intangible liabilities-charter agreements” in the Consolidated Statements of Income. For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p id="xdx_849_eus-gaap--PropertyPlantAndEquipmentImpairment_zYjF6Nkcpux7" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(m) <span id="xdx_869_z1uED90f7rD3">Impairment of Long-lived assets</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tangible fixed assets, such as vessels, that are held and used or to be disposed of by the Company are reviewed for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. In these circumstances, the Company performs step one of the impairment test by comparing the undiscounted projected net operating cash flows for each vessel group to its carrying value. A vessel group comprises the vessel, the unamortized portion of deferred drydocking related to the vessel and the related carrying value of the intangible asset or liability (if any) with respect to the time charter attached to the vessel at its purchase. If the undiscounted projected net operating cash flows of the vessel group are less than its carrying amount, management proceeds to step two of the impairment assessment by comparing the vessel group’s carrying amount to its fair value, including any applicable charter, and an impairment loss is recorded equal to the difference between the vessel group’s carrying value and fair value. Fair value is determined with the assistance from valuations obtained from third party independent ship brokers.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--FutureCharterRateAssumptions_c20250101__20251231_z4ZNCO4EfBnb" title="Future charter rate assumptions">The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet (iii) operating costs, based on current levels escalated over time based on long term trends (iv) dry docking frequency, duration and cost (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue assumptions are based on contracted charter rates up to the end of the existing contract of each vessel, and thereafter, estimated time charter rates for the remaining life of the vessel. The estimated time charter rate used for non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container shipping industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that using forecast charter rates in the four years from the date of the impairment assessment and a reversion to the historical mean of time charter rates thereafter, represents a reasonable benchmark for the estimated time charter rates for the non-contracted revenue days, and takes into account the volatility and cyclicality of the market.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2025, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2025.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2024, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2024.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2023, the Company noted that events and circumstances triggered the existence of potential impairment for some of the Company’s vessel groups. These indicators included volatility in the charter market and the vessels’ market values, as well as the potential impact of the current container sector on management’s expectation for future revenues. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was required for two vessel groups, as their undiscounted projected net operating cash flows did not exceed their carrying value. As a result, the Company recorded an impairment loss of $<span id="xdx_908_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_zw5Kn6JUBvF2">18,830</span> for two vessel groups with a total aggregate carrying amount of $<span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_z0JwyjlagOc4">43,830</span> which was written down to their fair value of $<span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_z7A3SfjqsCZj">25,000</span> (see Note 4). </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet (iii) operating costs, based on current levels escalated over time based on long term trends (iv) dry docking frequency, duration and cost (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values. 18830000 43830000 25000000 <p id="xdx_844_eus-gaap--DebtPolicyTextBlock_zBHwt7gTM44f" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(n) <span id="xdx_862_zDUMuNHNMHPi">Deferred financing costs</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs incurred in connection with obtaining long-term debt and in obtaining amendments to existing facilities are recorded as deferred financing costs and are amortized to interest expense using the effective interest method over the estimated duration of the related debt. Such costs include fees paid to the lenders or on the lenders’ behalf and associated legal and other professional fees. Debt issuance costs, other than any up-front arrangement fee for revolving credit facilities, related to a recognized debt liability are presented as a direct deduction from the carrying amount of that debt.</span></p> <p id="xdx_84D_ecustom--PreferredSharesPolicyTextBlock_z1Si107dUDjb" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(o) <span id="xdx_86A_zPnHnMsDWIx6">Preferred shares</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A total of <span><span id="xdx_901_eus-gaap--PreferredStockSharesIssued_iI_c20140831__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z6QqTgIZHMt4">14,000</span></span> of the Company’s <span id="xdx_909_eus-gaap--PreferredStockDividendRatePercentage_dp_uPure_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z72NWFPUtvK">8.75</span>% Series B Cumulative Redeemable Perpetual Preferred Shares (“Series B Preferred Shares”) were originally issued in August 2014 and have been included within Equity in the Consolidated Balance Sheets since their initial issue in August 2014. Additional Series B Preferred Shares were issued in 2019, 2020 and 2021. Dividends on the Series B Preferred Shares are presented as a reduction of Retained Earnings or addition to Accumulated Deficit in the Consolidated Statements of Changes in Shareholders’ Equity as their nature is similar to that of an equity instrument rather than a liability. Holders of Series B Preferred Shares, which may only be redeemed at the discretion of the Company, are entitled to receive a dividend equal to <span id="xdx_909_eus-gaap--PreferredStockDividendRatePercentage_dp_uPure_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zzvIaiX2TwU5">8.75</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% per annum on the stated liquidation preference, should such dividend be declared, and rank senior to the common shares with respect to dividend rights and rights upon liquidation, dissolution or winding up of the Company.</span></p> 14000 0.0875 0.0875 <p id="xdx_842_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_zLB1zrARrW44" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(p) <span id="xdx_860_zrcWOhyS9o05">Other comprehensive income</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other comprehensive income, which is reported in the Consolidated Statements of Changes in Shareholders’ Equity, consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. Under ASU 2011-05, an entity reporting comprehensive income in a single continuous financial statement shall present its components in two sections, net income and other comprehensive income.</span></p> <p id="xdx_84C_eus-gaap--RevenueRecognitionPolicyTextBlock_zyykreWjdbW" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(q) <span id="xdx_865_zGDfKhSDBgCc">Revenue recognition and related expense</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company charters out its vessels on time charters which involves placing a vessel at a charterer’s disposal for a specified period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Such charters are accounted for as operating leases and therefore revenue is recognized on a straight-line basis as the average revenues over the rental periods of such charter agreements, as service is performed. Cash received in excess of earned revenue is recorded as deferred revenue. If a time charter contains one or more consecutive option periods, then subject to the options being exercisable solely by the Company, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter, including any options which are more likely than not to be exercised. If a time charter is modified, including the agreement of a direct continuation at a different rate, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter from the date of modification, adjusted for any prepaid or accrued balance from the original lease, generally on a straight-line basis over the new lease term (the remaining balance from the original lease, adjusted for the additional or terminated periods). During the years ended December 31, 2025, 2024 and 2023, amounts of $<span id="xdx_903_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_iN_pn3n3_di_c20250101__20251231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zOr8bQtIBJOf">4,012</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">loss, $<span id="xdx_90C_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_iN_pn3n3_di_c20240101__20241231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zkqgZOfUI2J8">8,823</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">loss and $<span id="xdx_90D_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_iN_pn3n3_di_c20230101__20231231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zaJe4zH8EZa6">4,025</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">loss, respectively, were recorded in time charter-revenues for such modifications and revenues recognized on a straight-line basis. Any difference between the charter rate invoiced and the time charter revenue recognized is classified as, or released from, deferred revenue. As of December 31, 2025, current asset and non-current asset from implementing the straight-line basis, amounting to $<span id="xdx_905_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__us-gaap--PrepaidExpensesAndOtherCurrentAssetsMember_zpRd7Onk71md">12,643</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_90E_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__us-gaap--PrepaidExpensesAndOtherCurrentAssetsMember_zKdJEB0wLxwf">9,657</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_903_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--PrepaidExpensesAndOtherCurrentAssetsMember_zg3goWtFLlO6">9,027</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively) and $<span id="xdx_90D_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherNoncurrentAssetsMember_zE6e548uAxP4">10,344</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_905_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherNoncurrentAssetsMember_zJvB5Q8nlFI6">19,670</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90A_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__us-gaap--OtherNoncurrentAssetsMember_zieyerGJXHq7">15,139</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively), respectively, are presented in the Consolidated Balance Sheets in the line item “Prepaid expenses and other current assets” and “Other non-current assets”, respectively. As of December 31, 2025, current liability and non-current liability from implementing the straight-line basis, amounting to $<span id="xdx_90E_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__custom--CurrentPortionOfDeferredRevenueMember_zQ8pU8PubMZc">8,624</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_905_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__custom--CurrentPortionOfDeferredRevenueMember_z32fTIXqz6E2">5,310</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_905_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__custom--CurrentPortionOfDeferredRevenueMember_ztTKqyZ16aK">113</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively) and $<span id="xdx_907_eus-gaap--DeferredRevenueNoncurrent_iI_pn3n3_c20251231__us-gaap--BalanceSheetLocationAxis__custom--DeferredRevenueNetOfCurrentPortionMember_zxIfiFo4ooHe">3,797</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">($<span id="xdx_907_eus-gaap--DeferredRevenueNoncurrent_iI_pn3n3_c20241231__us-gaap--BalanceSheetLocationAxis__custom--DeferredRevenueNetOfCurrentPortionMember_zJQnaomDIWri">9,438</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_900_eus-gaap--DeferredRevenueNoncurrent_iI_pn3n3_c20231231__us-gaap--BalanceSheetLocationAxis__custom--DeferredRevenueNetOfCurrentPortionMember_zjqKeTHPx2li">651</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as of December 31, 2024, and 2023, respectively), are presented in the Consolidated Balance Sheets in the line item “Current portion of deferred revenue” and “Deferred revenue, net of current portion”, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(q) Revenue recognition and related expense (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues are recorded net of address commissions, which represent a discount provided directly to the charterer based on a fixed percentage of the agreed upon charter rate. Charter revenue received in advance which relates to the period after a balance sheet date is recorded as deferred revenue within current liabilities until the respective charter services are rendered.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under time charter arrangements the Company, as owner, is responsible for all the operating expenses of the vessels, such as crew costs, insurance, repairs and maintenance, and such costs are expensed as incurred and are included in vessel operating expenses.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commission paid to brokers to facilitate the agreement of a new charter are included in time charter and voyage expenses as are certain expenses related to a voyage, such as the costs of bunker fuel consumed when a vessel is off-hire or idle.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leases:</b> In cases of lease agreements where the Company acts as the lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the Consolidated Balance Sheets. Following initial recognition and with regards to subsequent measurement the Company remeasures lease liability and right of use asset at each reporting date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leases where the Company acts as the lessor are classified as either operating or sales-type / direct financing leases.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In cases of lease agreements where the Company acts as the lessor under an operating lease, the Company keeps the underlying asset on the Consolidated Balance Sheets and continues to depreciate the assets over its useful life. In cases of lease agreements where the Company acts as the lessor under a sales-type / direct financing lease, the Company derecognizes the underlying asset and records a net investment in the lease. The Company acts as a lessor under operating leases in connection with all of its charter out - bareboat-out arrangements.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In cases of sale and leaseback transactions, if the transfer of the asset to the lessor does not qualify as a sale, then the transaction constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the non-lease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as the lease components are the predominant characteristics.</span></p> -4012000 -8823000 -4025000 12643000 9657000 9027000 10344000 19670000 15139000 8624000 5310000 113000 3797000 9438000 651000 <p id="xdx_845_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zMDXBNqv7tle" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(r) <span id="xdx_86C_zr7hxkj4uXs9">Foreign currency transactions</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s functional currency is the U.S. dollar as substantially all revenues and a majority of expenditures are denominated in U.S. dollars. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet dates. Expenses paid in foreign currencies are recorded at the rate of exchange at the transaction date. Exchange gains and losses are included in the determination of Net Income.</span></p> <p id="xdx_840_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zkjTUEOoDtu5" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(s) <span id="xdx_86B_z5dWMNprgTl">Stock-based compensation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has awarded incentive stock awards to its senior management and Directors, among others, as part of their compensation.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For share-based employee compensation that is classified as equity, the associated compensation cost is recognized over the requisite service period. The requisite service period is the period during which an employee is required to provide services in exchange for an award, which often is the vesting period.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(s) Stock-based compensation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Using the graded vesting method of expensing the incentive stock awards, the weighted average fair value of the stock awards is recognized as compensation costs in the Consolidated Statements of Income over the vesting period. The fair value of the incentive stock awards for time vesting and performance based awards is calculated by multiplying the number of shares of stock by the fair value of the shares at the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s performance-based compensation expenses are calculated based on the valuation at the grant date, and recognized based on the probability of achieving those targets. The Company assesses the probability of the performance targets being achieved at each balance sheet date, and expenses are recognized accordingly.</span></p> <p id="xdx_843_eus-gaap--IncomeTaxPolicyTextBlock_z7GRcL4sDfqf" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(t) <span id="xdx_862_zoffr80dR8Uf">Income taxes</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company and its Marshall Island subsidiaries are exempt from taxation in the Marshall Islands. Otherwise, the Company’s vessels are liable for tax based on the tonnage of the vessel, under the regulations applicable to the country of incorporation of the vessel owning company, which is included within vessels’ operating expenses. Certain inactive Hong Kong subsidiaries (one was dissolved in 2025 and two remain inactive as of December 31, 2025) are also liable for income tax on interest income earned from non-shipping activities.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had <span id="xdx_90C_ecustom--NumberOfSubsidiaries_dc_uPure_c20250101__20251231__srt--StatementGeographicalAxis__country--GB_z4U38XnQfEw5">one</span> subsidiary in the United Kingdom that was dissolved on September 24, 2024, and no tax is anticipated.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based solely on the technical merits of the position.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1 <p id="xdx_841_ecustom--DividendsPolicyTextBlock_zK6SrU63ZYQ3" style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(u) <span id="xdx_861_zeT6UteK2VHg">Dividends</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span> </span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividends are recorded in the period in which they are declared by the Board of Directors of the Company (the “Board of Directors”). Dividends to be paid are presented in the Consolidated Balance Sheets in the line item “Accrued Liabilities”.</span></p> <p id="xdx_84F_eus-gaap--EarningsPerSharePolicyTextBlock_zKMCCvbKiWf1" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(v) <span id="xdx_865_z35cMh3smpc5">Earnings per share</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings per common share are based on income available to common shareholders divided by the weighted average number of common shares outstanding during the period, excluding unvested stock awards. Diluted income per common share is calculated by applying the treasury stock method. All unvested stock awards that have a dilutive effect are included in the calculation. The basic and diluted earnings per share for the period are presented for each category of participating common shares under the two-class method.</span></p> <p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zwUhidYQTHK6" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(w) <span id="xdx_86E_zeVLCddiTAZk">Risks Associated with Concentration</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is exposed to certain concentration risks that may adversely affect the Company’s financial position in the near term:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) The Company derives its revenue from liner companies which are exposed to the cyclicality of the container shipping industry. For operating revenue from significant customers constituting more than 10% of total time charter revenue, refer to Note 13.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii) There is a minimum concentration of credit risk with respect to cash and cash equivalents at December 31, 2025, to the extent that substantially all of the amounts are deposited with <span id="xdx_902_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20251231_ztfnUdFKjwMj">eight</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">banks (2024: <span id="xdx_905_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20241231_zUsJ9jfs0kM">eight</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">banks). The Company believes this risk is remote as the banks are high credit quality financial institutions.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> 8 8 <p id="xdx_84F_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zoHUpDFG7kDh" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(x) <span id="xdx_865_zLEEs1PfvdHg">Segment Reporting</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company derives its revenues from chartering vessels to liner companies. The Company reports financial information and evaluates its operations by charter revenues and not by the length of ship employment for its customers. The Company does not use discrete financial information to evaluate operating results for each vessel or type of charter. Management does not identify expenses, profitability or other financial information by vessel or charter type. The Company’s Executive Chairman, Chief Executive Officer and Chief Financial Officer, collectively, who are the Chief Operating Decision Maker ("CODM"), review operating results solely by revenue per day and consolidated net income of the fleet and thus the Company has determined that it operates under <span id="xdx_90E_eus-gaap--NumberOfReportableSegments_dc_uPure_c20250101__20251231_zxpBr3qngxG4">one</span> operating and reportable segment. Consolidated vessel operating expense information presented within the Consolidated Statements of Income are considered to be significant expenses. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide, subject to restrictions as per the charter agreement, and, as a result, the disclosure of geographic information is impracticable.</span></p> 1 <p id="xdx_849_eus-gaap--FairValueOfFinancialInstrumentsPolicy_z7S1f3ff2r82" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) <span id="xdx_861_zLEDOWbBs4bf">Fair Value Measurement and Financial Instruments</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments carried on the Consolidated Balance Sheets include cash and cash equivalents, restricted cash and other instruments, time deposits, trade receivables and payables, other receivables and other liabilities, amounts due to/from related parties, derivatives and long-term debt. The particular recognition methods applicable to each class of financial instrument are disclosed in the applicable significant policy description of each item or included below as applicable.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Fair value measurement:</i></b> Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The hierarchy is broken down into three levels based on the observability of inputs as follows:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 1</b> – Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 2</b> – Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level 3</b> – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair value of assets and liabilities</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following methods and assumptions were used to estimate the fair value of each class of financial instrument:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash and cash equivalents, restricted cash and other instruments, time deposits, amounts due to/from related parties:</b> The carrying amounts reported in the Consolidated Balance Sheets for these balances approximate their fair value because of the short maturity or short-term nature of these balances.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Long-term debt, including current portion, net:</b> The carrying value of our long term bank loans and sale and leaseback agreements continues to approximate its fair value generally due to their variable interest rates. The carrying value has been adjusted to reflect the net presentation of deferred finance costs.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) Fair Value Measurement and Financial Instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The estimated fair values of the Company’s financial instruments are as follows:</span></p> <p id="xdx_89E_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zoEufhX7absa" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_8B9_zWfWce2i6lYe" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value Measurement (Table)</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="5" id="xdx_49B_20251231_z2WGWkrlTnS5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="5" id="xdx_493_20241231_zHd1IIgVvJP" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Book Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Book Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zuY436JTBvQl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zp5BihCHXQMd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z4ncZPnMoHta" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zvOj7yBqdy0c" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_ze0cVkPSoLA4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zp8OyeJTWp41" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z44o0XQe48ra" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z1CbhvD3Ekif" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,150</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and other instruments</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zF8VvwvuaWa1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zTSkFwPg4tD" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zQcgaO7h6f7l" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zGMqPDrzJCf8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zb7a9L1ZqG3g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zZ7yKbOR88bl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zX6sT4Ub6KN9" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zamiTMrFLkL5" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_909_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zfWKdzKhSese" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_908_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zuko7qB3zDll" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1284"><span style="-sec-ix-hidden: xdx2ixbrl1285">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zC6BZYf8Cer" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zhCMSSKzav0g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z7r3sLlQCCde" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zP0u3KUyOLDc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">342</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_902_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zqZcVzEl5uyc" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90B_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zklNMxqP9Wpb" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1294"><span style="-sec-ix-hidden: xdx2ixbrl1295">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zredZIYbN0A2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zOiUe0HJVqxe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zmBaFo4DLwVb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zxRrt6VhER9f" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(723)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z1658o3ef7bc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (689,142)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zJU5KkFIaiZf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zwRB897d47n2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(684,057)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zv8E0WigKPZd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(691,099)</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 0pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" id="xdx_492_20251231_zcOOIokSjwUi" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value Measurements as at December 31, 2025</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level I</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level II</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level III</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zOVO1TsxSsci" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zKwtQstz54V2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zKYTeOzs1vb2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9rdX3bwSQEl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zHE7jE3nvx9d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z5kKZTUzJPD7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z28lTonLGAAl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z2nhu2ZwgYR7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and other instruments</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zVe34V4LjOV2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zEOiPFV5wbek" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zs7E0NCXtJrb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zFp3qfvxlQuj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zpNN9qWP2Fec" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zWMgqa0qV7U1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zjb6J6mrmj63" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zTlf4jjt10R6" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90E_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zhxlxDGQo7eh" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90B_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_z7NUbW4LEwma" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1344"><span style="-sec-ix-hidden: xdx2ixbrl1345">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zLiOLJZtrPRl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zOxbqqewuRd6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zCIzrPbX69F1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zAmRwnWCK9Ua" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90D_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zOoRQsAPrIWi" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90A_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zlughbroZYsj" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1354"><span style="-sec-ix-hidden: xdx2ixbrl1355">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zELTuXOLz6t3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zQpsoxlqq091" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zvKAfgAwyQtj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zQLHHv8MrGy3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zXsDPat20C93" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zgMXWGmLstp4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_ztbE9vXG0pJ6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zuIyPOWgUna7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 0pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" id="xdx_495_20241231_zajaqtDGPCG1" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value Measurements as at December 31, 2024</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level I</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level II</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level III</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z9tXwwfpurn8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6UZqv0jXH74" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zh60YlvaADJi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwNNshD3b8K" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zZ97Njkd8Bi9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zh86W6uQSx6e" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zuEavIKcv3sl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdz2sHuVDquh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z4wByyZ47tA5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z5AkKZRkmlSf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z6ZxaOHKGTHl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zycPMZjFSDX3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zHMiS8UYYivk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zGbOM7yCrpbe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z3OdBlUU6FLj" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zq5bKbXkoeH9" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_903_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zP2hb0AHal17" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_901_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zQKkg1roivXk" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1404"><span style="-sec-ix-hidden: xdx2ixbrl1405">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zGXpihSaF0C1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z3YFILds2KMe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zg6T17lk8iqc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwJp2pDPpHl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_903_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zYgARH5FhNEf" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_907_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zWCP0n3XtYa3" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1414"><span style="-sec-ix-hidden: xdx2ixbrl1415">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zczicmNlyAjc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zZk4qjeJSce3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zeKQEUdV1ngh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z34xJnUhcBf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zqbgevFyscla" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (691,099)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zJqYmuYVjdJd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zujSQzjuOJPe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(691,099)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9Y3q1FR899h" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> </table> <p id="xdx_8AE_zqL6AmraBqbc" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) Fair Value Measurement and Financial Instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_90F_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zotwa2rfAIj2">484,106</span>, which amortizes over time as the Company’s outstanding debt balances decline. In February 2022, the Company further hedged its exposure by putting in place <span id="xdx_908_ecustom--IntrerestRateCapsNumber_dcp_uPure_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z4EP6GdZ45X9">two</span> USD one-month LIBOR interest rate caps of <span id="xdx_905_eus-gaap--DerivativeCapInterestRate_iI_dp_uPure_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zo3yyyGmN4Ql">0.75</span>% through <span id="xdx_901_ecustom--DerivativeMaturityDates1_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zQEMd0VeE8H">fourth quarter 2026</span>, on $<span id="xdx_906_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zb1NFVxY3Lae">507,891</span> of its floating rate debt. The second-interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $<span id="xdx_90D_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20250101__20251231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_znK7uHNffcjh">4,952</span> as of December 31, 2025, was recorded through Consolidated Statements of Income ($<span id="xdx_900_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20240101__20241231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zxTcxp7DTzck">5,170</span> negative fair value adjustment and $<span id="xdx_90D_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20230101__20231231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zbn7YrfUQr3l">5,372</span> negative fair value adjustment for December 31, 2024, and 2023, respectively). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. The Company is designating certain future interest payments on its outstanding variable-rate debt as the hedged item in this relationship. Under ASC 815-20-25-106e, “for cash flow hedges of the interest payments on only a portion of the principal amount of the interest-bearing asset or liability, the notional amount of the interest rate cap designated as the hedging instrument matches the principal amount of the portion of the asset or liability on which the hedged interest payments are based”. In this case, <span id="xdx_907_eus-gaap--DerivativeDescriptionOfHedgedItem_c20250101__20251231_zcSId19Tewhk">the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span>. During 2023, all Company’s loan agreements have been amended and restated to take into effect the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”) and the relevant provisions on a replacement rate. In addition, the Company’s interest rate caps automatically transited to <span id="xdx_90F_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20230101__20231231_zsHoJfISZvM" title="Interest Rate Description">1-month Compounded SOFR</span> on July 1, 2023, at a level of <span id="xdx_907_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20230101__20231231_ztDktzJOnnpb" title="Basis Spread on Variable Rate">0.64</span>%. The Company assesses the effectiveness of the hedges on an ongoing basis. The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, 2024 and 2023, following a quantitative assessment, part of the hedges were no longer considered effective and an amount of $nil, ($<span id="xdx_903_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20240101__20241231_zMN5CbZAfqP2" title="Unrealized gain on the interest rate caps">877</span>) and ($<span id="xdx_905_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20230101__20231231_zCOfUdf6ZDD4" title="Unrealized gain on the interest rate caps">214</span>), respectively, was reclassified to other comprehensive income to the Consolidated Statements of Income. <span style="display: none"><span id="xdx_902_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_di_c20250101__20251231_zO1kZMcr5eld" title="Unrealized gain on the interest rate caps">0</span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The objective of the hedges is to reduce the variability of cash flows associated with the interest rates relating to the Company’s variable rate borrowings. When derivatives are used, the Company is exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, <i>Derivatives and Hedging</i>, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs – Level 2 inputs).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 4, 2024, <span id="xdx_90D_eus-gaap--DescriptionOfForeignCurrencyDerivativeActivities_pn3n3_c20240101__20240404__us-gaap--DerivativeInstrumentRiskAxis__custom--FXOptionMember_zHmv1e2NLLPc">the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements, starting April 11, 2024, and ended March 13, 2025. The strike price was EURUSD 1.10</span>. The Company entered to this option to hedge the downside foreign exchange risk associated with expenses denominated in EUR against fluctuations between the US Dollar and Euro. This FX option was designated as a cash flow hedge of anticipated expenses totaling €3,000, expected to occur each month. Changes in the fair value of the option other than “intrinsic value” were excluded from the assessment of effectiveness. The effectiveness of the hedging relationship were periodically assessed during the life of the hedge by comparing the terms of the option and the forecasted expenses to ensure that they continued to coincide. Should the critical terms no longer matched exactly, hedge effectiveness (both prospective and retrospective) was assessed by evaluating the dollar-offset ratio of the spot intrinsic value of the actual option contract and a hypothetically perfect option contract.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Financial Risk Management:</i></b> The Company activities expose it to a variety of financial risks including fluctuations in, time charter rates, credit and interest rates risk. Risk management is carried out under policies approved by executive management. Guidelines are established for overall risk management, as well as specific areas of operations.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(y) Fair Value Measurement and Financial Instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Credit Risk:</i></b> The Company closely monitors its credit exposure to customers and counter-parties for credit risk. The Company has entered into commercial management agreement with Conchart Commercial Inc. (“Conchart”), pursuant to which Conchart has agreed to provide commercial management services to the Company, including the negotiation, on behalf of the Company, of vessel employment contracts (see Note 14). Conchart has policies in place to ensure that it trades with customers and counterparties with an appropriate credit history. Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and cash and cash equivalents and time deposits. The Company does not believe its exposure to credit risk is likely to have a material adverse effect on its financial position, results of operations or cash flows.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Liquidity Risk:</i></b> Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Company monitors cash balances appropriately to meet working capital needs.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Foreign Exchange Risk:</i></b> Foreign currency transactions are translated into the measurement currency rates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the Consolidated Statements of Income.</span></p> <p id="xdx_89E_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zoEufhX7absa" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_8B9_zWfWce2i6lYe" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value Measurement (Table)</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="5" id="xdx_49B_20251231_z2WGWkrlTnS5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="5" id="xdx_493_20241231_zHd1IIgVvJP" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Book Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Book Value</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zuY436JTBvQl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zp5BihCHXQMd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z4ncZPnMoHta" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zvOj7yBqdy0c" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_ze0cVkPSoLA4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zp8OyeJTWp41" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z44o0XQe48ra" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z1CbhvD3Ekif" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,150</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and other instruments</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zF8VvwvuaWa1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zTSkFwPg4tD" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zQcgaO7h6f7l" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zGMqPDrzJCf8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zb7a9L1ZqG3g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zZ7yKbOR88bl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zX6sT4Ub6KN9" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zamiTMrFLkL5" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_909_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zfWKdzKhSese" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_908_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zuko7qB3zDll" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1284"><span style="-sec-ix-hidden: xdx2ixbrl1285">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zC6BZYf8Cer" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zhCMSSKzav0g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z7r3sLlQCCde" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zP0u3KUyOLDc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">342</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_902_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zqZcVzEl5uyc" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90B_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zklNMxqP9Wpb" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1294"><span style="-sec-ix-hidden: xdx2ixbrl1295">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zredZIYbN0A2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zOiUe0HJVqxe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zmBaFo4DLwVb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zxRrt6VhER9f" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(723)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_z1658o3ef7bc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (689,142)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zJU5KkFIaiZf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--BookValueMember_zwRB897d47n2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(684,057)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zv8E0WigKPZd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(691,099)</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 0pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" id="xdx_492_20251231_zcOOIokSjwUi" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value Measurements as at December 31, 2025</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level I</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level II</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level III</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zOVO1TsxSsci" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_987_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zKwtQstz54V2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">273,876</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zKYTeOzs1vb2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9rdX3bwSQEl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zHE7jE3nvx9d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--TimeDepositsAssetsCurrent_i01I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z5kKZTUzJPD7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 199,100</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z28lTonLGAAl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z2nhu2ZwgYR7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and other instruments</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zVe34V4LjOV2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zEOiPFV5wbek" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">164,120</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zs7E0NCXtJrb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zFp3qfvxlQuj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash and other instruments"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zpNN9qWP2Fec" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zWMgqa0qV7U1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zjb6J6mrmj63" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,234</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zTlf4jjt10R6" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90E_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zhxlxDGQo7eh" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90B_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_z7NUbW4LEwma" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1344"><span style="-sec-ix-hidden: xdx2ixbrl1345">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherReceivablesNetCurrent_i02I_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zLiOLJZtrPRl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zOxbqqewuRd6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 148</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zCIzrPbX69F1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zAmRwnWCK9Ua" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90D_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zOoRQsAPrIWi" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_90A_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zlughbroZYsj" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1354"><span style="-sec-ix-hidden: xdx2ixbrl1355">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zELTuXOLz6t3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zQpsoxlqq091" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (692)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_980_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zvKAfgAwyQtj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_988_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zQLHHv8MrGy3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20251231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zXsDPat20C93" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zgMXWGmLstp4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_ztbE9vXG0pJ6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(694,709)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zuIyPOWgUna7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 0pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" id="xdx_495_20241231_zajaqtDGPCG1" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="11" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fair Value Measurements as at December 31, 2024</b></span></td></tr> <tr> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level I</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level II</b></span></p></td> <td style="border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level III</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 53%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z9tXwwfpurn8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z6UZqv0jXH74" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">141,375</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zh60YlvaADJi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 4%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--CashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwNNshD3b8K" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 7%" title="Cash and cash equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Time deposits</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zZ97Njkd8Bi9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_ecustom--TimeDepositsAssetsCurrent_i01I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zh86W6uQSx6e" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 26,150</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zuEavIKcv3sl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_ecustom--TimeDepositsAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zdz2sHuVDquh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Time deposits"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98C_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_z4wByyZ47tA5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z5AkKZRkmlSf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">106,249</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z6ZxaOHKGTHl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zycPMZjFSDX3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Restricted cash"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative assets</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--DerivativeAssetsCurrent_i01I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zHMiS8UYYivk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zGbOM7yCrpbe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98D_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z3OdBlUU6FLj" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,406</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_982_eus-gaap--DerivativeAssetsCurrent_i01I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zq5bKbXkoeH9" style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt" title="Derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due from <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_903_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zP2hb0AHal17" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_901_eus-gaap--AccountsReceivableAfterAllowanceForCreditLossCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zQKkg1roivXk" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1404"><span style="-sec-ix-hidden: xdx2ixbrl1405">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--OtherReceivablesNetCurrent_i02I_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zGXpihSaF0C1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_984_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z3YFILds2KMe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 342</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zg6T17lk8iqc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherReceivablesNetCurrent_i02I_d0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwJp2pDPpHl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due from related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to <span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_903_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20251231_zYgARH5FhNEf" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span class="xdx_phnt_U3RhdGVtZW50IC0gQ29uc29saWRhdGVkIEJhbGFuY2UgU2hlZXRzAA__" id="xdx_907_eus-gaap--AccountsPayableCurrentRelatedPartyTypeExtensibleEnumeration_iI_dxL_c20241231_zWCP0n3XtYa3" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23RelatedPartyMember"><span style="-sec-ix-hidden: xdx2ixbrl1414"><span style="-sec-ix-hidden: xdx2ixbrl1415">related parties</span></span></span></span></span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zczicmNlyAjc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zZk4qjeJSce3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (723)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zeKQEUdV1ngh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--OtherLiabilitiesCurrent_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z34xJnUhcBf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Due to related parties"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Credit facilities and financial liabilities, including current portion, net</span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_985_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di_c20241231__custom--FinancialInstrumentsValueMeasurmentTypeAxis__custom--FairValueMember_zqbgevFyscla" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> (691,099)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zJqYmuYVjdJd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_98B_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zujSQzjuOJPe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(691,099)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_981_ecustom--CreditFacilitiesAndFinancialLiabilitiesIncludingCurrentPortionNet_i02NI_di0_c20241231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9Y3q1FR899h" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Credit facilities and financial liabilities, including current portion, net"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> </table> 273876000 273876000 141375000 141375000 199100000 199100000 26150000 26150000 164120000 164120000 106249000 106249000 5234000 5234000 20406000 20406000 148000 148000 342000 342000 692000 692000 723000 723000 689142000 694709000 684057000 691099000 273876000 273876000 0 0 199100000 199100000 0 0 164120000 164120000 0 0 5234000 0 5234000 0 148000 148000 0 0 692000 692000 -0 -0 694709000 -0 694709000 -0 141375000 141375000 0 0 26150000 26150000 0 0 106249000 106249000 0 0 20406000 0 20406000 0 342000 342000 0 0 723000 723000 -0 -0 691099000 -0 691099000 -0 484106000 2 0.0075 fourth quarter 2026 507891000 4952000 5170000 5372000 the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged 1-month Compounded SOFR 0.0064 -877000 -214000 -0 the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements, starting April 11, 2024, and ended March 13, 2025. The strike price was EURUSD 1.10 <p id="xdx_842_eus-gaap--DerivativesPolicyTextBlock_zr1yL0MGpECg" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(z) <span id="xdx_868_z9EupzUkFN2a">Derivative instruments</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is exposed to interest rate risk relating to its variable rate borrowings. In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_906_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_ztDDR6CEypSd">484,106</span> (“December 2021 hedging”), which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This transaction is designated as a cash flow hedge, and under ASU 2017-12, cash flow hedge accounting allows all changes in fair value to be recorded through Other Comprehensive Income once hedge effectiveness has been established. Under ASC 815-30-35-38, amounts in accumulated other comprehensive income shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings (i.e., each quarter) and shall be presented in the same income statement line item as the earnings effect of the hedged item in accordance with paragraph 815-20-45-1A.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The premium paid related to this derivative was classified in the Consolidated Statements of Cash Flows as operating activities in the line item “Derivative asset”. The premium shall be amortized into earnings “on a systematic and rational basis over the period in which the hedged transaction affects earnings” (ASC 815-30-35-41A); that is, the Company will expense the premium over the life of the interest rate cap in accordance with the “caplet method”, as described in Derivatives Implementation Group (DIG) Issue G20. DIG Issue G20 dictates that the cost of the interest rate cap is recognized on earnings over time, based on the value of each periodic caplet. The cost per period will change as the caplet for that period changes in value. Given that the interest rate cap is forward-starting, expense of the premium will not begin until the effective start date of the interest rate cap, in order to match potential cap revenue with the cap expenses in the period in which they are incurred.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p><p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(z) Derivative instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2022, the Company purchased two interest rate caps with an aggregate notional amount of $<span id="xdx_90D_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z5IlpPmHJxL3">507,891</span>. The first interest rate cap of $253,946 which has been designated as a cash flow hedge, has the same accounting treatment as described above for the December 2021 hedging. The second interest rate cap was not designated as a cash flow hedge and a negative fair value adjustment of $<span id="xdx_908_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20250101__20251231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zF55TKqezIj8">4,952</span> as at December 31, 2025, was recorded through Consolidated Statements of Income ($<span id="xdx_906_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20240101__20241231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zNx0vBh7JZI3">5,170</span> negative fair value adjustment and $<span id="xdx_909_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20230101__20231231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zbT5HPLruRc3">5,372</span> negative fair value adjustment for December 31, 2024 and 2023, respectively). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, <span id="xdx_903_eus-gaap--DerivativeDescriptionOfHedgedItem_c20250101__20251231_zerAcoKjnlNa">the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span> (see Note 9). As of December 31, 2025, all Company’s loan agreements have been amended and restated to take into effect the transition from LIBOR to the Secured Overnight Financing Rate (“SOFR”) and the relevant provisions on a replacement rate. In addition, the Company’s interest rate caps automatically transited to <span id="xdx_90F_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20230101__20231231_ziz9WotUxBj5" title="Interest Rate Description">1-month Compounded SOFR</span> on July 1, 2023, at a level of <span id="xdx_90C_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20230101__20231231_zT8Vr3QsQfKb" title="Basis Spread on Variable Rate">0.64</span>%.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of December 31, 2025, interest rate cap notional amount covers ~75% of the outstanding floating debt. As of December 31, 2025, 2024 and 2023, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $nil, ($<span id="xdx_905_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20240101__20241231_zYHz7k3zVeT2" title="Unrealized gain on the interest rate caps">877</span>) and ($<span id="xdx_909_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20230101__20231231_zRRfPZVbZT37" title="Unrealized gain on the interest rate caps">214</span>), respectively, was reclassified to other comprehensive income to the Consolidated Statements of Income. <span style="display: none"><span id="xdx_907_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_di_c20250101__20251231_zdvwqKnFe7Q5" title="Unrealized gain on the interest rate caps">0</span></span></span></p> 484106000 507891000 4952000 5170000 5372000 the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged 1-month Compounded SOFR 0.0064 -877000 -214000 -0 <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zrftc1HHGC6c" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(zi) <span id="xdx_86E_zUm0sO7AohSl">Recently issued accounting standards</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The standard is intended to enhance transparency of income statement disclosures primarily through additional disaggregation of relevant expense captions. The standard is effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with prospective or retrospective application permitted. The Company is currently evaluating the potential impact of adopting this standard on the Company’s Consolidated Financial Statements and disclosures.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_809_eus-gaap--CashAndCashEquivalentsDisclosureTextBlock_zFQfCtMBr076" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>3. <span id="xdx_821_zrbgsQJTBnLd">Restricted Cash and other instruments</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash and other instruments as of December 31, 2025, and 2024 consisted of the following:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p id="xdx_896_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_zVpzcaGs041c" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zAVSDCWtIC9h" style="display: none">Restricted cash (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_495_20251231_zrHPX0qDKy3h" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49B_20241231_zwC6VbnQ51Ff" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_40C_eus-gaap--EscrowDeposit_iI_maRCACEzyYB_zm2yZeEyIndh" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retention accounts</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,624</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,724</span></td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashCurrent_iI_d0_maRCACEzyYB_zdLNTrncwtSl" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,402</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,009</span></td></tr> <tr id="xdx_404_ecustom--CashCollateralReceivedInAdvanceFromCharterersCurrent_iI_d0_maRCACEzyYB_z69Ol08QXn7l" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash collateral <sup id="xdx_F4D_zG6NQ0FnHLk">(*)</sup></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33,494</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32,850</span></td></tr> <tr id="xdx_407_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iTI_mtRCACEzyYB_macash_zr2PQDcMLxwj" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Current Restricted Cash</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>50,520</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>55,583</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_407_ecustom--CashCollateralReceivedInAdvanceFromCharterersNonCurrent_iI_maRCACEzUz7_z9iNf5unjpGk" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash collateral and other instruments <sup id="xdx_F42_zANdmigKaIha">(*)</sup></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">113,588</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,755</span></td></tr> <tr id="xdx_406_eus-gaap--CashCollateralForBorrowedSecurities_iI_maRCACEzUz7_zpOXnSb8eri2" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guarantee deposits</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</span></td></tr> <tr id="xdx_406_eus-gaap--RestrictedCashNoncurrent_iI_maRCACEzUz7_zuc92hI0eaRd" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1495">—</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,900</span></td></tr> <tr id="xdx_40A_eus-gaap--RestrictedCashAndCashEquivalentsNoncurrent_iTI_mtRCACEzUz7_macash_zSg8J1oXQ1U3" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Non - Current Restricted Cash and other instruments</b></span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>113,600</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>50,666</b></span></td></tr> <tr id="xdx_403_eus-gaap--RestrictedCashAndInvestments_iTI_mtcash_ztfruFIO0ji7" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Current and Non - Current Restricted Cash and other instruments</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>164,120</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>106,249</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"><td style="width: 1%"><span id="xdx_F02_ztOnpBF0VCYk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F17_zBvqAb1ei2Of" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash received in advance from charterers is held as cash collateral and other instruments with maturities exceeding three months see Note 2(e). For the years ended December 31, 2025, and 2024, instruments with maturities over three months were $98,656 and $nil, respectively.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_8A6_zOUCqUKIaN64" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_zVpzcaGs041c" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zAVSDCWtIC9h" style="display: none">Restricted cash (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_495_20251231_zrHPX0qDKy3h" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49B_20241231_zwC6VbnQ51Ff" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_40C_eus-gaap--EscrowDeposit_iI_maRCACEzyYB_zm2yZeEyIndh" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Retention accounts</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,624</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,724</span></td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashCurrent_iI_d0_maRCACEzyYB_zdLNTrncwtSl" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,402</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,009</span></td></tr> <tr id="xdx_404_ecustom--CashCollateralReceivedInAdvanceFromCharterersCurrent_iI_d0_maRCACEzyYB_z69Ol08QXn7l" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash collateral <sup id="xdx_F4D_zG6NQ0FnHLk">(*)</sup></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33,494</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32,850</span></td></tr> <tr id="xdx_407_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iTI_mtRCACEzyYB_macash_zr2PQDcMLxwj" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Current Restricted Cash</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>50,520</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>55,583</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_407_ecustom--CashCollateralReceivedInAdvanceFromCharterersNonCurrent_iI_maRCACEzUz7_z9iNf5unjpGk" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash collateral and other instruments <sup id="xdx_F42_zANdmigKaIha">(*)</sup></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">113,588</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,755</span></td></tr> <tr id="xdx_406_eus-gaap--CashCollateralForBorrowedSecurities_iI_maRCACEzUz7_zpOXnSb8eri2" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guarantee deposits</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</span></td></tr> <tr id="xdx_406_eus-gaap--RestrictedCashNoncurrent_iI_maRCACEzUz7_zuc92hI0eaRd" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1495">—</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,900</span></td></tr> <tr id="xdx_40A_eus-gaap--RestrictedCashAndCashEquivalentsNoncurrent_iTI_mtRCACEzUz7_macash_zSg8J1oXQ1U3" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Non - Current Restricted Cash and other instruments</b></span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>113,600</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>50,666</b></span></td></tr> <tr id="xdx_403_eus-gaap--RestrictedCashAndInvestments_iTI_mtcash_ztfruFIO0ji7" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Current and Non - Current Restricted Cash and other instruments</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>164,120</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>106,249</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"><td style="width: 1%"><span id="xdx_F02_ztOnpBF0VCYk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F17_zBvqAb1ei2Of" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash received in advance from charterers is held as cash collateral and other instruments with maturities exceeding three months see Note 2(e). For the years ended December 31, 2025, and 2024, instruments with maturities over three months were $98,656 and $nil, respectively.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> 15624000 20724000 1402000 2009000 33494000 32850000 50520000 55583000 113588000 47755000 12000 11000 2900000 113600000 50666000 164120000 106249000 <p id="xdx_807_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_z164shdjUGe4" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. <span id="xdx_820_zsSyDVlnQI6j">Vessels in Operation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels in Operation as of December 31, 2025, 2024 and 2023 consisted of the following:</span></p> <p id="xdx_896_eus-gaap--PropertyPlantAndEquipmentTextBlock_zDNRsoXfpUek" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zzBFMqCyWRn8">Vessels in Operation - Schedule of Vessels in Operation (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"></td></tr> <tr> <td style="text-align: center; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel Gross Cost,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>as adjusted for impairment charges</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Accumulated Depreciation</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Book Value</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 65%"><span style="font-size: 10pt"><b>As of January 1, 2023</b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 10pt"><b><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_z0tWsFzYfShe" title="Balance beginning of period">1,886,158</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 10pt"><b><span id="xdx_908_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_znWxRFimvaRg" title="Balance beginning of period">(262,851)</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 10pt"><b><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zuioNw83bN9k" title="Balance beginning of period">1,623,307</span></b></span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zSSftlwNigbh" title="Additions">138,802</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zAQgbe6AI8qh" title="Additions">138,802</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--Depreciation_iN_pn3n3_di0_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zDjAaH4XiYOd" title="Depreciation">(72,443)</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--Depreciation_iNP2us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zxzKTDonhySl" title="Depreciation">(72,443)</span></span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Impairment loss</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_ecustom--AssetImpairmentChargesGross_iN_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zvSDy3XlUJJh" title="Impairment Loss">(25,544)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_ecustom--AccumulatedDepreciationDepletionAndAmortizationImpairmentLossOfPropertyPlantAndEquipment_pn3n3_d0_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zl8a1Feivvpe" title="Impairment loss">6,714</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--TangibleAssetImpairmentCharges_iN_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zsb3rWIKZPt8" title="Impairment Loss">(18,830)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zWNi0G0EixYh" title="Disposals">(6,803)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zONg5m7eFxZ5" title="Disposals">68</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentDisposals_iNP3us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zZ3zHim3MKml">(6,735)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2023</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zWJLRhzOtmdf" title="Balance beginning of period">1,992,613</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_904_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zUcpPVsGFk9" title="Balance beginning of period">(328,512)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zrxIbITaLij6" title="Balance beginning of period">1,664,101</span></b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zwAzj28Xr3y" title="Additions">296,242</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentAdditions_iP2us-gaap--Depreciation_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zKOalEffzwDd" title="Additions">296,242</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--Depreciation_iN_pn3n3_di_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zBJxeT2YETj8" title="Depreciation">(75,703)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--Depreciation_iNP2us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zG0CfZYNgER3" title="Depreciation">(75,703)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2024</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zLActMmzaf5e" title="Balance beginning of period">2,288,855</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_907_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zoMQoTiGCUIa" title="Balance beginning of period">(404,215)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_z9ezkRxZQVNe" title="Balance beginning of period">1,884,640</span></b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zDoYSJDl3thi" title="Additions">203,314</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_ztRaY5Y6zv86" title="Additions">203,314</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--Depreciation_iN_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zc4b4gRv5Ajh" title="Depreciation">(91,906)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--Depreciation_iN_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zPBu0lZwdMii" title="Depreciation">(91,906)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zoGkTsqrKkof" title="Disposals">(61,111)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_909_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zuRW1AQK3ebj" title="Disposals">27,951</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentDisposals_iNP3us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zDiRt3Zb33Bd">(33,160)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2025</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentGross_iE_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zrtLhnbEY9F8" title="Balance ending of period">2,431,058</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_905_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNE_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zHu33mgdpqqi" title="Balance ending of period">(468,170)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentNet_iE_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zIwh5NYJ0Vqb" title="Balance ending of period">1,962,888</span></b></span></td></tr> </table> <p id="xdx_8A8_zrgCU25yEbhh" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, 2024, and 2023, the Company had made additions for vessel expenditures, reefers, emissions management, ERP modules, ballast water treatments and other capitalized vessel expenses. As of December 31, 2025, 2024 and 2023 unpaid capitalized expenses were $<span id="xdx_90D_ecustom--CapitalizedExpensesUnpaid_pn3n3_c20250101__20251231_zbQJuBr1cksc" title="Unpaid capitalized expenses">11,550</span>, $<span id="xdx_90A_ecustom--CapitalizedExpensesUnpaid_pn3n3_c20240101__20241231_zEWGbByAjzH" title="Unpaid capitalized expenses">13,556</span>, and $<span id="xdx_906_ecustom--CapitalizedExpensesUnpaid_pn3n3_c20230101__20231231_zgTEsPYobbOi" title="Unpaid capitalized expenses">2,679</span>, respectively. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025 Vessel acquisitions</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the fourth quarter of 2025, the Company agreed to purchase three ECO <span id="xdx_909_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeECOVesselsIMember_zYeBFig6deik">8,586</span> TEU, Korean-built containerships for an aggregate price of approximately $<span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeECOVesselsIMember_zwTSl94hxeA9">90,000</span>, of which two were delivered on <span id="xdx_908_ecustom--VesselDeliveryDate1_uPure_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoOutOfThreeECOVesselsMember_zDLUDBVTdhM7">various dates in December 2025</span> and the third one on <span id="xdx_90F_ecustom--VesselDeliveryDate1_uPure_c20260101__20260109__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThirdECOVesselsMember_zqiRVYSR1cb5">January 9, 2026</span>. As of December 31, 2025, the Company had paid in advance $<span id="xdx_905_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CypressMember_z4KqSH1Ju46b" title="Advances for vessel acquisition">30,200</span> for the acquisition of the third ECO <span id="xdx_90F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CypressMember_zYwbvnYZhnJ">8,586</span> TEU vessel, Cypress, which was delivered on <span id="xdx_90D_ecustom--VesselDeliveryDate1_uPure_c20260101__20260109__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CypressMember_zxC0KmuSxkm5">January 9, 2026</span>. The Company funded the acquisitions with cash on hand, with the potential to attach financing subsequently.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock_zXpNx99fQDu" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zeOaH7LGHEpf">Vessels in Operation - Vessels Acquisitions 2025 (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_48B_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zHjjwbpjHcJf" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_483_ecustom--YearBuilt_z9OcK2ZhCWPj" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48C_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_zrNUvSHemZO6" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_481_ecustom--DeliveryDate_zqzJer2iKRo" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_41D_20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--KoiMember_zgQq5Iztz7Ie" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koi <sup id="xdx_F4B_zC4C2gLkMazg">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2011</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 29, 2025</span></td></tr> <tr id="xdx_419_20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LotusAMember_zX7jxGBVPaYj" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lotus A <sup id="xdx_F48_zg6zWoll5dmf">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 12, 2025</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0E_zDeri5kkHMOi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F16_zOklbUNfc9u1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The charters of the two ECO 8,586 TEU Vessels resulted in an intangible liability of $38,122 that was recognized and will be amortized over the remaining useful life of the charters.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2025, the Company took delivery of the fourth high-reefer ECO 9,019 TEU Vessel as per below: </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_483_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zYBvfSmGJN28" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_487_ecustom--YearBuilt_zUQ0SRaz7G4g" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48E_eus-gaap--PropertyPlantAndEquipmentAdditions_zAXL6EznmNG5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_480_ecustom--DeliveryDate_zW1PusvsTHL7" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_410_20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CzechMember_z3ltUMq19kq3" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Czech <sup id="xdx_F4E_zi3ymJLqk8g6">(*)</sup> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,391</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 9, 2025</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0E_zj8Q3UqMVFO1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F1E_zqNGPSL7Ly2e" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The charter of the fourth high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_8A7_zQG8g8bJM8qj" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. Vessels in Operation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024 Vessels acquisitions</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2024, the Company took delivery of the three high-reefer ECO 9,019 TEU Vessels as per below:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock1_zcHl2KjqFJRc" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8B1_znFfEq9okKFh" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels in Operation - Vessels Acquisitions 2024 (Table)</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_487_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zML0cHqf9dzf" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_480_ecustom--YearBuilt_znad8I6Row5b" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_487_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_z3dWOcB29Z7k" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_48E_ecustom--DeliveryDate_zjOtaK1oJYg7" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_41C_20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SydneyExpressMember_zIPejfjAu5pi" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sydney Express <sup id="xdx_F43_zejiqlOJonn1">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 6, 2024</span></td></tr> <tr id="xdx_413_20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--IstanbulExpressMember_zCE6d6mWpReh" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Istanbul Express <sup id="xdx_F44_z8CH4kCcbIri">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 11, 2024</span></td></tr> <tr id="xdx_414_20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BremerhavenExpressMember_z7NdYJFFf8pe" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bremerhaven Express <sup id="xdx_F4A_zMnxBB8UJH33">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 30, 2024</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F01_z3Uq37SG0st7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F18_zhTkPHhGoUlh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The charters of the three high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $49,295 that was recognized and will be amortized over the remaining useful life of the charters.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_8A1_zH0yth76wRkb" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023 Vessels acquisitions</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May and June 2023, the Company took delivery of the four 8,544 TEU Vessels as per below:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock2_z1rxkYT5prhk" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zsM0kjqV50K7">Vessels in Operation - Vessels Acquisitions 2023 (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_488_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zHTAHj2r2KGb" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_484_ecustom--YearBuilt_zIB0TwP9Gvm1" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48D_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_zHheYcubTBdb" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_48A_ecustom--DeliveryDate_zXtU5nO8Jzm5" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_416_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAlexandraMember_zxDa3xOPcdH7" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alexandra</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 2, 2023</span></td></tr> <tr id="xdx_413_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLSofiaMember_z0EhWivOTItc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Sofia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 22, 2023</span></td></tr> <tr id="xdx_411_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEffieMember_z7iTx0zHta3g" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Effie</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 30, 2023 </span></td></tr> <tr id="xdx_417_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLLydiaMember_z68mc7nHPTy8"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Lydia</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$33,300</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 26, 2023</span></td></tr> </table> <p id="xdx_8AF_ziOuDprm7il1" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025 Sale of Vessels</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2025, Dimitris Y was contracted to be sold for $<span id="xdx_90F_ecustom--SalePriceMemorandumAgreement_pn3n3_d0_c20250101__20250531__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--DimitrisYMember_zuzKWReyk7Ed">35,600</span> and was delivered to the buyers on <span id="xdx_90A_ecustom--VesselDeliveryDate1_uPure_c20250101__20251013__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--DimitrisYMember_zklrDB1UiY9">October 13, 2025</span>. Vessel’s net proceeds from the sale of vessel were $<span id="xdx_90C_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20250101__20250531__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--DimitrisYMember_zIpFUMwniiPc">35,085</span>. On July 28, 2025, <span id="xdx_905_eus-gaap--LineOfCreditFacilityCollateral_c20250101__20250531__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--DimitrisYMember_zY16NNeKcQ55" title="Collateral description">the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027</span>. The net gain from the sale of vessel was $<span id="xdx_900_eus-gaap--GainLossOnSaleOfPropertyPlantEquipment_pn3n3_c20250101__20250531__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--DimitrisYMember_z4Et0bpSAr64">17,943</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2025, the Company agreed to sell Keta, a <span id="xdx_909_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20250324__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--KetaMember_z9MOJr8aVDje">2,207</span> TEU vessel, which was sold on March 24, 2025, for net proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20250101__20250324__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--KetaMember_zVtjukgFP3Dk">11,944</span>, and <span id="xdx_906_eus-gaap--LineOfCreditFacilityCollateral_c20250101__20250324__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--KetaMember_zsM3kHhLA4r4" title="Collateral description">the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027</span>. The net gain from the sale of vessel was $<span id="xdx_902_eus-gaap--GainLossOnSaleOfPropertyPlantEquipment_pn3n3_c20250101__20250324__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--KetaMember_zWbDVjgAqIK7">7,121</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2024, the Company agreed to sell Tasman, a <span id="xdx_90C_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20250310__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMember_zhABeTofnuZc">5,936</span> TEU vessel, which was sold on March 10, 2025, for net proceeds of $<span id="xdx_904_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20250101__20250310__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMember_zrB38aGIoiek">30,846</span>, and <span id="xdx_90B_eus-gaap--LineOfCreditFacilityCollateral_c20250101__20250310__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMember_zOrRErKCdj8f" title="Collateral description">the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027</span>. The net gain from the sale of vessel was $<span id="xdx_90D_eus-gaap--GainLossOnSaleOfPropertyPlantEquipment_pn3n3_c20250101__20250310__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TasmanMember_zKRB6KGJSj8h">17,929</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2025, the Company agreed to sell Akiteta, a <span id="xdx_90A_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20250219__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AkitetaMember_zGcwb9PzqcJc">2,220</span> TEU vessel, which was sold on February 19, 2025, for net proceeds of $<span id="xdx_906_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20250101__20250219__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AkitetaMember_zxqNQAtxS8uk">10,693</span>, and <span id="xdx_90F_eus-gaap--LineOfCreditFacilityCollateral_c20250101__20250219__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AkitetaMember_zjwnNbEqT2f4" title="Collateral description">the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027</span>. The net gain from the sale of vessel was $<span id="xdx_903_eus-gaap--GainLossOnSaleOfPropertyPlantEquipment_pn3n3_c20250101__20250219__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AkitetaMember_zdCIS5KIESA8">3,279</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023 Sale of Vessel</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 23, 2023, the Company sold GSL Amstel for net proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20230101__20230323__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAmstelMember_zCFFp1NieCn9">5,940</span>, and <span id="xdx_905_eus-gaap--LineOfCreditFacilityCollateral_c20230101__20230323__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAmstelMember_zQWKvLDdK9E2" title="Collateral description">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</span>. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>4. Vessels in Operation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Impairment</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2025, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2025.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2024, the Company noted that events and circumstances triggered the existence of potential impairment for some of Company’s vessel groups. These indicators included the potential impact of the current container sector on management’s expectation for future revenues, as well as some volatility in the charter market and the vessels’ market values. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was not required for any vessel group, as their undiscounted projected net operating cash flows exceeded their carrying value. Accordingly, no impairment recorded for the year ended December 31, 2024.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through the latter part of 2023, the Company noted that events and circumstances triggered the existence of potential impairment for some of the Company’s vessel groups. These indicators included volatility in the charter market and the vessels’ market values, as well as the potential impact of the current container sector on management’s expectation for future revenues. As a result, the Company performed step one of the impairment assessment of each of the Company’s vessel groups by comparing the undiscounted projected net operating cash flows for each vessel group to their carrying value and step two of the impairment analysis was required for two vessel groups, as their undiscounted projected net operating cash flows did not exceed their carrying value.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result, as of December 31, 2023, the Company recorded an impairment loss of $<span id="xdx_90B_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_zBoCJlqvjBDg">18,830</span> for two vessel groups with a total aggregate carrying amount of $<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_zcytodKus1Fk">43,830</span> which was written down to their fair value of $<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoVesselGroupMember_zMRVLyfzuLzc">25,000</span> (see Note 4).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The total impairment loss recognized for the years ended December 31, 2025, 2024 and 2023 amounted to $nil, $nil and $<span id="xdx_904_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20230101__20231231_zPHzRdfRFgGj">18,830</span>, respectively. <span id="xdx_907_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20240101__20241231_zY2AL0w7zFA2" style="display: none">0</span> <span id="xdx_907_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20250101__20251231_zQ71cCbs4v3" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Collateral</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, <span id="xdx_90B_ecustom--NumberOfVesselsPledgedAsCollateralUnderCreditFacilities_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zQKb4WHdvith">16</span> vessels were mortgaged as collateral under the 5.69% Senior Secured Notes due 2027 and <span id="xdx_90D_ecustom--NumberOfVesselsPledgedAsCollateralUnderCreditFacilities_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--OtherLoanFacilitiesMember_zrVwu5qBm6d7">36</span> vessels under the Company’s loan facilities and sale and leaseback agreements. <span id="xdx_90F_ecustom--NumberOfUnencumberedVessels_dc_uPure_c20250101__20251231_zKb0BTifsZog" title="Number of unencumbered vessels">Eighteen</span> vessels were unencumbered as of December 31, 2025.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Advances for vessel acquisitions and other additions</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, and December 31, 2024, the Company made $<span id="xdx_903_eus-gaap--PaymentsForConstructionInProcess_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThirdECOVesselsMember_zBuDsHONLUgb">30,200</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_903_eus-gaap--PaymentsForConstructionInProcess_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourthHighReeferECOVesselsMember_z6f3MjOrIza2">6,850</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively, advances for vessel acquisitions, which were delivered on January 9, 2026, and January 9, 2025. As of December 31, 2025, and December 31, 2024, the Company had also made advances for other vessel additions totaling $<span id="xdx_90E_ecustom--VesselsImprovements_pn3n3_c20250101__20251231_z72L45ByyWA9">5,761</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_901_ecustom--VesselsImprovements_pn3n3_c20240101__20241231_z7ocjG08e3o9">11,784</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"></p> <p id="xdx_896_eus-gaap--PropertyPlantAndEquipmentTextBlock_zDNRsoXfpUek" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zzBFMqCyWRn8">Vessels in Operation - Schedule of Vessels in Operation (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"></td></tr> <tr> <td style="text-align: center; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel Gross Cost,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>as adjusted for impairment charges</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Accumulated Depreciation</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Book Value</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 65%"><span style="font-size: 10pt"><b>As of January 1, 2023</b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 10pt"><b><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_z0tWsFzYfShe" title="Balance beginning of period">1,886,158</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 10pt"><b><span id="xdx_908_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_znWxRFimvaRg" title="Balance beginning of period">(262,851)</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 10pt"><b><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zuioNw83bN9k" title="Balance beginning of period">1,623,307</span></b></span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zSSftlwNigbh" title="Additions">138,802</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zAQgbe6AI8qh" title="Additions">138,802</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--Depreciation_iN_pn3n3_di0_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zDjAaH4XiYOd" title="Depreciation">(72,443)</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--Depreciation_iNP2us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zxzKTDonhySl" title="Depreciation">(72,443)</span></span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Impairment loss</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_ecustom--AssetImpairmentChargesGross_iN_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zvSDy3XlUJJh" title="Impairment Loss">(25,544)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_ecustom--AccumulatedDepreciationDepletionAndAmortizationImpairmentLossOfPropertyPlantAndEquipment_pn3n3_d0_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zl8a1Feivvpe" title="Impairment loss">6,714</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--TangibleAssetImpairmentCharges_iN_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zsb3rWIKZPt8" title="Impairment Loss">(18,830)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zWNi0G0EixYh" title="Disposals">(6,803)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_pn3n3_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zONg5m7eFxZ5" title="Disposals">68</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentDisposals_iNP3us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zZ3zHim3MKml">(6,735)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2023</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zWJLRhzOtmdf" title="Balance beginning of period">1,992,613</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_904_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zUcpPVsGFk9" title="Balance beginning of period">(328,512)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zrxIbITaLij6" title="Balance beginning of period">1,664,101</span></b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zwAzj28Xr3y" title="Additions">296,242</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentAdditions_iP2us-gaap--Depreciation_pn3n3_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zKOalEffzwDd" title="Additions">296,242</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--Depreciation_iN_pn3n3_di_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zBJxeT2YETj8" title="Depreciation">(75,703)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--Depreciation_iNP2us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zG0CfZYNgER3" title="Depreciation">(75,703)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2024</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zLActMmzaf5e" title="Balance beginning of period">2,288,855</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_907_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zoMQoTiGCUIa" title="Balance beginning of period">(404,215)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_z9ezkRxZQVNe" title="Balance beginning of period">1,884,640</span></b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zDoYSJDl3thi" title="Additions">203,314</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_ztRaY5Y6zv86" title="Additions">203,314</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--Depreciation_iN_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zc4b4gRv5Ajh" title="Depreciation">(91,906)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--Depreciation_iN_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zPBu0lZwdMii" title="Depreciation">(91,906)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zoGkTsqrKkof" title="Disposals">(61,111)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_909_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zuRW1AQK3ebj" title="Disposals">27,951</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentDisposals_iNP3us-gaap--TangibleAssetImpairmentCharges_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zDiRt3Zb33Bd">(33,160)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2025</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentGross_iE_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zrtLhnbEY9F8" title="Balance ending of period">2,431,058</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_905_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNE_pn3n3_di_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zHu33mgdpqqi" title="Balance ending of period">(468,170)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentNet_iE_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zIwh5NYJ0Vqb" title="Balance ending of period">1,962,888</span></b></span></td></tr> </table> 1886158000 262851000 1623307000 138802000 138802000 72443000 72443000 25544000 6714000 18830000 6803000 68000 6735000 1992613000 328512000 1664101000 296242000 296242000 75703000 75703000 2288855000 404215000 1884640000 203314000 203314000 91906000 91906000 61111000 27951000 33160000 2431058000 468170000 1962888000 11550000 13556000 2679000 8586 90000000 various dates in December 2025 January 9, 2026 30200000 8586 January 9, 2026 <p id="xdx_896_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock_zXpNx99fQDu" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zeOaH7LGHEpf">Vessels in Operation - Vessels Acquisitions 2025 (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_48B_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zHjjwbpjHcJf" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_483_ecustom--YearBuilt_z9OcK2ZhCWPj" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48C_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_zrNUvSHemZO6" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_481_ecustom--DeliveryDate_zqzJer2iKRo" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_41D_20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--KoiMember_zgQq5Iztz7Ie" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Koi <sup id="xdx_F4B_zC4C2gLkMazg">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2011</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 29, 2025</span></td></tr> <tr id="xdx_419_20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LotusAMember_zX7jxGBVPaYj" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lotus A <sup id="xdx_F48_zg6zWoll5dmf">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,586</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2010</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 12, 2025</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0E_zDeri5kkHMOi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F16_zOklbUNfc9u1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The charters of the two ECO 8,586 TEU Vessels resulted in an intangible liability of $38,122 that was recognized and will be amortized over the remaining useful life of the charters.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In January 2025, the Company took delivery of the fourth high-reefer ECO 9,019 TEU Vessel as per below: </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_483_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zYBvfSmGJN28" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_487_ecustom--YearBuilt_zUQ0SRaz7G4g" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48E_eus-gaap--PropertyPlantAndEquipmentAdditions_zAXL6EznmNG5" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_480_ecustom--DeliveryDate_zW1PusvsTHL7" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_410_20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CzechMember_z3ltUMq19kq3" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Czech <sup id="xdx_F4E_zi3ymJLqk8g6">(*)</sup> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,391</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 9, 2025</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0E_zj8Q3UqMVFO1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F1E_zqNGPSL7Ly2e" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The charter of the fourth high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> 8586000 2011 30000000 December 29, 2025 8586000 2010 30000000 December 12, 2025 9019000 2015 68391000 January 9, 2025 <p id="xdx_895_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock1_zcHl2KjqFJRc" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8B1_znFfEq9okKFh" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Vessels in Operation - Vessels Acquisitions 2024 (Table)</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_487_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zML0cHqf9dzf" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_480_ecustom--YearBuilt_znad8I6Row5b" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_487_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_z3dWOcB29Z7k" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_48E_ecustom--DeliveryDate_zjOtaK1oJYg7" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_41C_20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SydneyExpressMember_zIPejfjAu5pi" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sydney Express <sup id="xdx_F43_zejiqlOJonn1">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 6, 2024</span></td></tr> <tr id="xdx_413_20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--IstanbulExpressMember_zCE6d6mWpReh" style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Istanbul Express <sup id="xdx_F44_z8CH4kCcbIri">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 11, 2024</span></td></tr> <tr id="xdx_414_20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BremerhavenExpressMember_z7NdYJFFf8pe" style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bremerhaven Express <sup id="xdx_F4A_zMnxBB8UJH33">(*)</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,019</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2015</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$68,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 30, 2024</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F01_z3Uq37SG0st7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F18_zhTkPHhGoUlh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The charters of the three high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $49,295 that was recognized and will be amortized over the remaining useful life of the charters.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> 9019000 2016 68500000 December 6, 2024 9019000 2016 68500000 December 11, 2024 9019000 2015 68500000 December 30, 2024 <p id="xdx_892_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock2_z1rxkYT5prhk" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zsM0kjqV50K7">Vessels in Operation - Vessels Acquisitions 2023 (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name</b></span></td> <td id="xdx_488_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zHTAHj2r2KGb" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 22%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_484_ecustom--YearBuilt_zIB0TwP9Gvm1" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48D_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_zHheYcubTBdb" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; width: 17%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_48A_ecustom--DeliveryDate_zXtU5nO8Jzm5" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_416_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAlexandraMember_zxDa3xOPcdH7" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Alexandra</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 2, 2023</span></td></tr> <tr id="xdx_413_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLSofiaMember_z0EhWivOTItc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Sofia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 22, 2023</span></td></tr> <tr id="xdx_411_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEffieMember_z7iTx0zHta3g" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Effie</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 30, 2023 </span></td></tr> <tr id="xdx_417_20230101__20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLLydiaMember_z68mc7nHPTy8"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GSL Lydia</span></td><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,544</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2003</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$33,300</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 26, 2023</span></td></tr> </table> 8544000 2004 30000000 June 2, 2023 8544000 2003 30000000 May 22, 2023 8544000 2003 30000000 May 30, 2023 8544000 2003 33300000 June 26, 2023 35600000 October 13, 2025 35085000 the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027 17943000 2207 11944000 the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027 7121000 5936 30846000 the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027 17929000 2220 10693000 the vessel was released as collateral under the Company’s $350,000 5.69% Senior Secured Notes due 2027 3279000 5940000 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 18830000 43830000 25000000 18830000 0 0 16 36 18 30200000 6850000 5761000 11784000 <p id="xdx_808_ecustom--DeferredChargesTextBlock_zLDWtUSZHMMf" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5. <span id="xdx_82D_zRyhWahoPT9j">Deferred dry dock and special survey costs, net</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred dry dock and special survey costs, net, as of December 31, 2025, 2024 and 2023 consisted of the following:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_znajNaHUd8gh" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zMM59KmUJy5c">Deferred charges, net (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 88%"> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%"> </td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"> </td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dry - docking Costs</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of January 1, 2023</b></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$   </b></span></td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>                  <span id="xdx_907_eus-gaap--DeferredCosts_iS_pn3n3_c20230101__20231231_zQKERNaFQo99">54,663</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_90B_ecustom--DeferredCostsAdditions_pn3n3_c20230101__20231231_z0i4WdLkElua">38,341</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization</span></td> <td style="padding-right: -5.25pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">    </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">                 <span id="xdx_909_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20230101__20231231_zNE5iZ0Rbtek">(19,284)</span></span></td></tr> <tr style="background-color: White"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2023</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_902_eus-gaap--DeferredCosts_iS_pn3n3_c20240101__20241231_zKXvcpKzQMCf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>73,720</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_908_ecustom--DeferredCostsAdditions_c20240101__20241231_zId7l6XggoAg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,506</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90D_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20240101__20241231_zGPGYjR9aQtc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(24,287)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: White 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2024</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_909_eus-gaap--DeferredCosts_iS_pn3n3_c20250101__20251231_z2Z7tIdsmZXh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>91,939</b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_907_ecustom--DeferredCostsAdditions_c20250101__20251231_zNdJPas05sj7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">58,189</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90D_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20250101__20251231_zDhmp9xhUEDh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(30,055)</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Write-off on disposal</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_908_ecustom--DeferredCostsWriteOff_iN_pn3n3_di_c20250101__20251231_zURlVuYx66A4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Write-off on disposal">(9,137)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2025</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_906_eus-gaap--DeferredCosts_iE_pn3n3_c20250101__20251231_zTZx49oQgwT" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>110,936</b></span></td></tr> </table> <p id="xdx_8A6_zxvHvZgQPRoh" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company follows the deferral method of accounting for dry-docking costs in accordance with accounting for planned major maintenance activities, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period of five years until approximately the next scheduled dry-docking, which is generally <span id="xdx_906_ecustom--PeriodBetweenScheduledDrydockings_dc_c20250101__20251231_z5cjNDot9cU2" title="Period between scheduled regulatory drydockings">five years</span>. Any remaining unamortized balance from the previous dry-docking are written-off.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_892_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_znajNaHUd8gh" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zMM59KmUJy5c">Deferred charges, net (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 88%"> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 2%"> </td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"> </td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dry - docking Costs</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of January 1, 2023</b></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$   </b></span></td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>                  <span id="xdx_907_eus-gaap--DeferredCosts_iS_pn3n3_c20230101__20231231_zQKERNaFQo99">54,663</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_90B_ecustom--DeferredCostsAdditions_pn3n3_c20230101__20231231_z0i4WdLkElua">38,341</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization</span></td> <td style="padding-right: -5.25pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">    </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">                 <span id="xdx_909_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20230101__20231231_zNE5iZ0Rbtek">(19,284)</span></span></td></tr> <tr style="background-color: White"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2023</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_902_eus-gaap--DeferredCosts_iS_pn3n3_c20240101__20241231_zKXvcpKzQMCf" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>73,720</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_908_ecustom--DeferredCostsAdditions_c20240101__20241231_zId7l6XggoAg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,506</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90D_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20240101__20241231_zGPGYjR9aQtc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(24,287)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: White 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2024</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_909_eus-gaap--DeferredCosts_iS_pn3n3_c20250101__20251231_z2Z7tIdsmZXh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>91,939</b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_907_ecustom--DeferredCostsAdditions_c20250101__20251231_zNdJPas05sj7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">58,189</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90D_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20250101__20251231_zDhmp9xhUEDh" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(30,055)</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Write-off on disposal</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_908_ecustom--DeferredCostsWriteOff_iN_pn3n3_di_c20250101__20251231_zURlVuYx66A4" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Write-off on disposal">(9,137)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>As of December 31, 2025</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_906_eus-gaap--DeferredCosts_iE_pn3n3_c20250101__20251231_zTZx49oQgwT" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>110,936</b></span></td></tr> </table> 54663000 38341000 19284000 73720000 42506000 24287000 91939000 58189000 30055000 9137000 110936000 P5Y <p id="xdx_80E_ecustom--IntangibleLiabilityCharterAgreementsTextBlock_zZxRJMgNfxc3" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6. <span id="xdx_820_zRKSiWfBuRj7">Intangible Liabilities - Charter Agreements</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible Liabilities - Charter Agreements as of December 31, 2025, and 2024 consisted of the following:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_ecustom--ScheduleOfIntangibleLiabilitiesCharterAgreementsTableTextBlock_zQXHyhLmj83c" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zoY6b0DHSYw8">Intangible Liabilities/ Assets - Charter Agreements - Schedule of Intangible Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span id="xdx_90F_eus-gaap--BelowMarketLeaseNet_iS_pn3n3_c20250101__20251231_zqSHMIfdmhV5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">49,431</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span id="xdx_903_eus-gaap--BelowMarketLeaseNet_iS_pn3n3_c20240101__20241231_zhew9Dzq4S21" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,662</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions/(disposals) <sup id="xdx_F40_zHg9ib5XMyE8">(*)(**)</sup></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--BelowMarketLeasePeriodIncreaseDecrease_iN_pn3n3_di_c20250101__20251231_fKCop_zD4R18OUJly" title="Additions/(disposals)">54,109</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--BelowMarketLeasePeriodIncreaseDecrease_iN_pn3n3_di0_c20240101__20241231_fKCop_zfxO7zuVa6N9" title="Additions/(disposals)">49,295</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_905_eus-gaap--AmortizationOfBelowMarketLease_iN_pn3n3_di_c20250101__20251231_zCtjvZBMAXz7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13,486)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90F_eus-gaap--AmortizationOfBelowMarketLease_iN_pn3n3_di_c20240101__20241231_zeLmSFvyur1c" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,526)</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total </b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90D_eus-gaap--BelowMarketLeaseNet_iE_pn3n3_c20250101__20251231_zhTBykUTUaGe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>90,054</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_909_eus-gaap--BelowMarketLeaseNet_iE_pn3n3_c20240101__20241231_zvZJj1Gvfeki" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>49,431</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0A_zOUsXmChY9Ek" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="text-align: justify; width: 99%"><span id="xdx_F11_z8lVGNHfMpJ3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2024, the charters of the three high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $49,295 that was recognized and is being amortized over the remaining useful life of the charters.</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td> </td> <td> </td></tr> <tr style="vertical-align: top; text-align: left"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(**)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the first quarter of 2025, the charter of the fourth high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. During December 2025, the charters of the two new ECO 8,586 TEU Vessels resulted in an intangible liability of $38,122 that was recognized and will be amortized over the remaining useful life of the charters.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> </p> <p id="xdx_8AB_zff8thEeIhVg" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible liabilities are related to (a) acquisition of the four high-reefer ECO 9,019 TEU vessels delivered in December 2024 and January 2025, and (b) acquisition of the two new ECO 8,586 TEU Vessels delivered in December 2025, and (c) management’s estimate of the fair value of below-market charters on August 14, 2008, the date of the Marathon Merger. These intangible liabilities are being amortized over the remaining life of the relevant lease terms and the amortization income is included under the caption “Amortization of intangible liabilities-charter agreements” in the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization income of intangible liabilities-charter agreements for the years ended December 31, 2025, 2024 and 2023 was $<span id="xdx_902_ecustom--AmortizationOfAboveAndBelowMarketLeases1_pn3n3_c20250101__20251231_ztNDDOJ5LKkl">13,486</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, $<span id="xdx_903_ecustom--AmortizationOfAboveAndBelowMarketLeases1_pn3n3_c20240101__20241231_zsSRymEg41nc">5,526</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90F_ecustom--AmortizationOfAboveAndBelowMarketLeases1_pn3n3_c20230101__20231231_zkBAMPxsUySi">8,080</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>6. Intangible Liabilities - Charter Agreements (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The aggregate amortization of the intangible liabilities in each of the 12-month periods up to December 31, 2030, is estimated to be as follows:</span></p> <p id="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z0pGpWlUugyj" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_z7w9UbYDlZJg">Intangible Liabilities/ Assets - Charter Agreements - Aggregate Amortization of Intangible Liabilities (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr><td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_496_20251231_zwwHCOU9RuW5" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b></span></p></td></tr> <tr id="xdx_408_eus-gaap--BelowMarketLeaseAmortizationIncomeNextRollingTwelveMonths_iI_pn3n3_maBMLAIzhZa_zEqfda6XGjkl" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 84%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2026</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,412</span></td></tr> <tr id="xdx_407_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearTwo_iI_pn3n3_maBMLAIzhZa_zrYF1CqiiE4f" style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2027</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,412</span></td></tr> <tr id="xdx_401_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearThree_iI_pn3n3_maBMLAIzhZa_zyNUx60JMxHb" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2028</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 21,471</span></td></tr> <tr id="xdx_409_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearFour_iI_pn3n3_maBMLAIzhZa_zU91bNe4LmZh" style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2029</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,910</span></td></tr> <tr id="xdx_406_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearFive_iI_pn3n3_maBMLAIzhZa_zTAPUhQZ6ji" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2030</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,849</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--BelowMarketLeaseNet_iTI_pn3n3_mtBMLAIzhZa_c20251231_zhBVQyfzWxC3" style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>90,054</b></span></td></tr> </table> <p id="xdx_8A2_zk3w2vke8ZWj" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The weighted average useful life for the remaining intangible liabilities-charter agreements terms is <span id="xdx_907_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20251231_z6IZhlzz20df" title="Weighted average useful lives">4.21</span> years.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_894_ecustom--ScheduleOfIntangibleLiabilitiesCharterAgreementsTableTextBlock_zQXHyhLmj83c" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zoY6b0DHSYw8">Intangible Liabilities/ Assets - Charter Agreements - Schedule of Intangible Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span id="xdx_90F_eus-gaap--BelowMarketLeaseNet_iS_pn3n3_c20250101__20251231_zqSHMIfdmhV5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">49,431</span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span id="xdx_903_eus-gaap--BelowMarketLeaseNet_iS_pn3n3_c20240101__20241231_zhew9Dzq4S21" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,662</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions/(disposals) <sup id="xdx_F40_zHg9ib5XMyE8">(*)(**)</sup></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--BelowMarketLeasePeriodIncreaseDecrease_iN_pn3n3_di_c20250101__20251231_fKCop_zD4R18OUJly" title="Additions/(disposals)">54,109</span></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--BelowMarketLeasePeriodIncreaseDecrease_iN_pn3n3_di0_c20240101__20241231_fKCop_zfxO7zuVa6N9" title="Additions/(disposals)">49,295</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_905_eus-gaap--AmortizationOfBelowMarketLease_iN_pn3n3_di_c20250101__20251231_zCtjvZBMAXz7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13,486)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90F_eus-gaap--AmortizationOfBelowMarketLease_iN_pn3n3_di_c20240101__20241231_zeLmSFvyur1c" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,526)</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total </b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90D_eus-gaap--BelowMarketLeaseNet_iE_pn3n3_c20250101__20251231_zhTBykUTUaGe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>90,054</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_909_eus-gaap--BelowMarketLeaseNet_iE_pn3n3_c20240101__20241231_zvZJj1Gvfeki" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>49,431</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0A_zOUsXmChY9Ek" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(*)</span></td> <td style="text-align: justify; width: 99%"><span id="xdx_F11_z8lVGNHfMpJ3" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2024, the charters of the three high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $49,295 that was recognized and is being amortized over the remaining useful life of the charters.</span></td></tr> <tr style="vertical-align: top; text-align: left"> <td> </td> <td> </td></tr> <tr style="vertical-align: top; text-align: left"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(**)</span></td> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the first quarter of 2025, the charter of the fourth high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. During December 2025, the charters of the two new ECO 8,586 TEU Vessels resulted in an intangible liability of $38,122 that was recognized and will be amortized over the remaining useful life of the charters.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> </p> 49431000 5662000 -54109000 -49295000 13486000 5526000 90054000 49431000 13486000 5526000 8080000 <p id="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z0pGpWlUugyj" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_z7w9UbYDlZJg">Intangible Liabilities/ Assets - Charter Agreements - Aggregate Amortization of Intangible Liabilities (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr><td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_496_20251231_zwwHCOU9RuW5" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b></span></p></td></tr> <tr id="xdx_408_eus-gaap--BelowMarketLeaseAmortizationIncomeNextRollingTwelveMonths_iI_pn3n3_maBMLAIzhZa_zEqfda6XGjkl" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 84%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2026</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 13%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,412</span></td></tr> <tr id="xdx_407_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearTwo_iI_pn3n3_maBMLAIzhZa_zrYF1CqiiE4f" style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2027</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,412</span></td></tr> <tr id="xdx_401_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearThree_iI_pn3n3_maBMLAIzhZa_zyNUx60JMxHb" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2028</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 21,471</span></td></tr> <tr id="xdx_409_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearFour_iI_pn3n3_maBMLAIzhZa_zU91bNe4LmZh" style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2029</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,910</span></td></tr> <tr id="xdx_406_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearFive_iI_pn3n3_maBMLAIzhZa_zTAPUhQZ6ji" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2030</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,849</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--BelowMarketLeaseNet_iTI_pn3n3_mtBMLAIzhZa_c20251231_zhBVQyfzWxC3" style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>90,054</b></span></td></tr> </table> 21412000 21412000 21471000 19910000 5849000 90054000 P4Y2M15D <p id="xdx_80C_eus-gaap--OtherCurrentAssetsTextBlock_z2O9e46Fizri" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b>7. <span id="xdx_820_zawviqirXjM6">Prepaid Expenses and Other Current Assets</span></b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid Expenses and Other Current Assets as at December 31, 2025, and December 31, 2024, consisted of the following:</span></p> <p id="xdx_894_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zfYREWQt7Crk" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zJ6EerHCaYHa">Prepaid Expenses and Other Current Assets (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20251231_zfjoKLnqFlpg" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_499_20241231_zdmIgOossBtj" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_404_eus-gaap--InsuranceSettlementsReceivableCurrent_iI_pn3n3_maPEAOAzY8Q_maPEAOAzzjY_zX6Cv3qk1jFf" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurance and other claims</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,358</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,606</span></td></tr> <tr id="xdx_40A_eus-gaap--Supplies_iI_pn3n3_maPEAOAzzjY_zf5WCymFvC65" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advances to suppliers and other assets</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,556</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,628</span></td></tr> <tr id="xdx_409_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAzzjY_zRksSkZVvcVd" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid insurances</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,873</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,732</span></td></tr> <tr id="xdx_409_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAzzjY_zfDBkVe8lB0c" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other <sup id="xdx_F47_zAggRWe31Mig">(1)</sup></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,836</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,983</span></td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzzjY_zAB6HGxj1Dn3" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>33,623</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>31,949</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0F_zrIH3fMW5Vxg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="width: 99%"><span id="xdx_F1C_zKkpT2yGARr7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes mainly current portion of the straight-line basis of revenue recognition.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_8A8_ziSQuuXwAQwb" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p id="xdx_894_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zfYREWQt7Crk" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zJ6EerHCaYHa">Prepaid Expenses and Other Current Assets (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_497_20251231_zfjoKLnqFlpg" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_499_20241231_zdmIgOossBtj" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_404_eus-gaap--InsuranceSettlementsReceivableCurrent_iI_pn3n3_maPEAOAzY8Q_maPEAOAzzjY_zX6Cv3qk1jFf" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurance and other claims</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,358</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,606</span></td></tr> <tr id="xdx_40A_eus-gaap--Supplies_iI_pn3n3_maPEAOAzzjY_zf5WCymFvC65" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advances to suppliers and other assets</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,556</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,628</span></td></tr> <tr id="xdx_409_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAzzjY_zRksSkZVvcVd" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid insurances</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,873</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,732</span></td></tr> <tr id="xdx_409_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAzzjY_zfDBkVe8lB0c" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other <sup id="xdx_F47_zAggRWe31Mig">(1)</sup></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,836</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,983</span></td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzzjY_zAB6HGxj1Dn3" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>33,623</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>31,949</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0F_zrIH3fMW5Vxg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="width: 99%"><span id="xdx_F1C_zKkpT2yGARr7" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes mainly current portion of the straight-line basis of revenue recognition.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> 6358000 1606000 3556000 5628000 3873000 1732000 19836000 22983000 33623000 31949000 <p id="xdx_804_eus-gaap--InventoryDisclosureTextBlock_zr2jEn2WyV1b" style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>8. <span id="xdx_823_zzj5D1kQYWL1">Inventories</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories as at December 31, 2025, and December 31, 2024, consisted of the following:</span></p> <p id="xdx_896_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_ziutcBuBqc29" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zryLCwG9bez1">Inventories (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_499_20251231_zV1wEjTdYsBk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49C_20241231_z4eGdzY0mbS7" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_40F_ecustom--BunkerInventoryCurrent_iI_pn3n3_d0_maINzeqV_zfbQIE0AzHw" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bunkers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">452</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,512</span></td></tr> <tr id="xdx_405_ecustom--LubricantsInventoryCurrent_iI_pn3n3_maINzeqV_zcrHMWASTypj" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lubricants</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,466</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,354</span></td></tr> <tr id="xdx_40E_ecustom--EUAllowances_iI_pn3n3_d0_maINzeqV_zsF4GWbJEkK7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EUAs</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">86</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,544</span></td></tr> <tr id="xdx_40E_ecustom--StoresInventoryCurrent_iI_pn3n3_maINzeqV_zmub5HSQ8Dw4" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stores</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1758">—</span></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,981</span></td></tr> <tr id="xdx_402_ecustom--VictuallingInventoryCurrent_iI_pn3n3_maINzeqV_zfgY0mrE2h1k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Victualling</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">596</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">514</span></td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iTI_pn3n3_mtINzeqV_zhMQWTUs7Taa" style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14,600</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18,905</b></span></td></tr> </table> <p id="xdx_8A7_zhgKhkkDntt5" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_ziutcBuBqc29" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zryLCwG9bez1">Inventories (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_499_20251231_zV1wEjTdYsBk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49C_20241231_z4eGdzY0mbS7" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_40F_ecustom--BunkerInventoryCurrent_iI_pn3n3_d0_maINzeqV_zfbQIE0AzHw" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bunkers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">452</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,512</span></td></tr> <tr id="xdx_405_ecustom--LubricantsInventoryCurrent_iI_pn3n3_maINzeqV_zcrHMWASTypj" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lubricants</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,466</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,354</span></td></tr> <tr id="xdx_40E_ecustom--EUAllowances_iI_pn3n3_d0_maINzeqV_zsF4GWbJEkK7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EUAs</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">86</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,544</span></td></tr> <tr id="xdx_40E_ecustom--StoresInventoryCurrent_iI_pn3n3_maINzeqV_zmub5HSQ8Dw4" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stores</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1758">—</span></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,981</span></td></tr> <tr id="xdx_402_ecustom--VictuallingInventoryCurrent_iI_pn3n3_maINzeqV_zfgY0mrE2h1k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Victualling</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">596</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">514</span></td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iTI_pn3n3_mtINzeqV_zhMQWTUs7Taa" style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14,600</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18,905</b></span></td></tr> </table> 452000 1512000 13466000 12354000 86000 2544000 1981000 596000 514000 14600000 18905000 <p id="xdx_80C_eus-gaap--FairValueDisclosuresTextBlock_zVroZ7D76QVa" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>9. <span id="xdx_824_zQZNMq3q9M5b">Derivative Assets</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_901_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zqLHqFH3kLPl">484,106</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings. The Company receives payments on the caps for any period that the one-month USD LIBOR rate is above the strike rate, which is <span id="xdx_902_eus-gaap--DerivativeCapInterestRate_iI_dp_uPure_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zkP9kgz71i7l">0.75</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%. The termination date of the interest rate cap agreements is <span id="xdx_905_eus-gaap--DerivativeMaturityDates_dd_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z9bI0ROO5bVd">November 30, 2026</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. The premium paid to purchase the interest caps was $<span id="xdx_900_ecustom--PayablePremiumAmount_pn3n3_dd_c20210101__20211222__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zxHwu7jJrAg1">7,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, which was paid out of cash on December 22, 2021. The premium is being amortized over the life of the interest rate cap by using the caplet method.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2022, the Company further hedged its exposure to a potential rising interest rate environment by putting in place <span id="xdx_906_ecustom--IntrerestRateCapsNumber_dc_uPure_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z73eNJh2vb8j">two</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">USD one-month LIBOR interest rate caps of <span id="xdx_909_eus-gaap--DerivativeCapInterestRate_iI_dp_uPure_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z7tXyW70f011">0.75</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% through <span id="xdx_90C_ecustom--DerivativeMaturityDates1_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z9kv9bvyIXm2">fourth quarter 2026</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, on $<span id="xdx_906_eus-gaap--DerivativeNotionalAmount_iI_pn3n3_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zCK1SRIAqLF5">507,891</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of its floating rate debt. The second interest rate cap was not designated as a cash flow hedge and therefore the negative fair value adjustment of $<span id="xdx_900_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20250101__20251231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zhj2w01EkLA6">4,952</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as at December 31, 2025 ($<span id="xdx_905_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20240101__20241231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zVe1DRzcx9yl">5,170</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">negative fair value adjustment and $<span id="xdx_907_eus-gaap--DerivativeLossOnDerivative_pn3n3_c20230101__20231231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zg7IOBJKpb04">5,372</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">negative fair value adjustment as at December 31, 2024 and 2023, respectively) was recorded through Consolidated Statements of Income. The premium paid by the Company to purchase the interest rate caps was $<span id="xdx_90F_ecustom--PayablePremiumAmount_pn3n3_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zsjbvcvFos77">15,370</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, which was paid out of cash on the settlement date. ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, <span id="xdx_90B_eus-gaap--DerivativeDescriptionOfHedgedItem_c20250101__20251231_zdXZy4cfy5cf">the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. Amount received from interest rate caps for each of the years ended December 31, 2025, 2024 and 2023 was $<span id="xdx_90B_eus-gaap--GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments_pn3n3_c20250101__20251231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zYFqbaJqvOgk">16,600</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, $<span id="xdx_902_eus-gaap--GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments_pn3n3_c20240101__20241231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zjPPPXDJag86">27,027</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_904_eus-gaap--GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments_pn3n3_c20230101__20231231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_z671h5M6m6Mj">32,549</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_90C_eus-gaap--DescriptionOfForeignCurrencyDerivativeActivities_c20240101__20240404__us-gaap--FinancialInstrumentAxis__custom--FXOptionMember_zu4PUrQWIVYi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 4, 2024, the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements that started on April 11, 2024 and ended on March 13, 2025</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. The initial value of the excluded component was equal to the option premium of €<span id="xdx_90F_eus-gaap--DerivativeExcludedComponentGainLossRecognizedInEarnings_pn3n3_c20240101__20240404__us-gaap--FinancialInstrumentAxis__custom--FXOptionMember_ztiZsajMJNDb">417</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and was recognized in earnings using the amortization approach as per ASC 815-20-25-83A.</span></p> <p id="xdx_890_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_zQVY0Gc0rWVl" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_znUmBFY7G0Bh">Derivative Asset - Schedule of Derivative Assets (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: White"><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opening balance</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98B_eus-gaap--DerivativeAssets_iS_pn3n3_d0_c20250101__20251231_zdmSvkMZnrQ5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20,406</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--DerivativeAssets_iS_pn3n3_d0_c20240101__20241231_zvCw2gYDhCXi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>41,506</b></span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FX option premium</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DerivativePremiumPaid_iI_pn3n3_d0_c20251231_zuHgML2elLz8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="FX option premium"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">194</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--DerivativePremiumPaid_iI_pn3n3_d0_c20241231_zUmsAn5Q7io8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="FX option premium"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">249</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unrealized loss on derivative assets (interest rate caps)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--UnrealizedLossOnDerivativesInterestRateCaps_pn3n3_d0_c20250101__20251231_zQNblLPIBxR4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10,217)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_ecustom--UnrealizedLossOnDerivativesInterestRateCaps_pn3n3_d0_c20240101__20241231_z3XywmkwwBZ6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15,933)</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unrealized loss on FX option</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_981_ecustom--UnrealizedLossOnDerivatives_pn3n3_d0_c20250101__20251231_zVaYRYwU4Cci" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(197)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_ecustom--UnrealizedLossOnDerivatives_pn3n3_d0_c20240101__20241231_zeVoptTk0fs3" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(246)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value adjustment on derivative asset</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20250101__20251231_ziqrN2AXbi49" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,952)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20240101__20241231_zArGfi1RWG6i" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,170)</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Closing balance</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_980_eus-gaap--DerivativeAssets_iE_pn3n3_c20250101__20251231_ztfhqKhTuSB6" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,234</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--DerivativeAssets_iE_pn3n3_c20240101__20241231_zqqsQBKgAwJ2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20,406</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of derivative assets (interest rate caps)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_ecustom--DerivativeAssetsCurrentInterestRateCaps_iNI_pn3n3_di0_c20251231_zDz7JpSUoi4f" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,234)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_ecustom--DerivativeAssetsCurrentInterestRateCaps_iNI_pn3n3_di0_c20241231_zLw46nMOyx79" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14,434)</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of FX option</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--DerivativeAssetsCurrentFXOption_iNI_pn3n3_di0_c20251231_zKdH2zfPQFOa" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--DerivativeAssetsCurrentFXOption_iNI_pn3n3_di0_c20241231_zjfAbpgBi5Hl" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-current portion of derivative assets (interest rate caps)</b></span></td> <td style="border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_980_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_d0_c20251231_zHRMo6nbWjqh" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>—</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_c20241231_zyq5JGoNkPp2" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,969</b></span></td></tr> </table> <p id="xdx_8AC_zJE7YjXhNe1j" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of December 31, 2025, interest rate cap notional amount covers ~75% of the outstanding floating debt. As of December 31, 2025, 2024 and 2023, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $nil, ($<span id="xdx_904_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20240101__20241231_zZ5bz0YZPO3l" title="Unrealized gain on the interest rate caps">877</span>) and ($<span id="xdx_909_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_pn3n3_di_c20230101__20231231_zy8SjZSLHGW7" title="Unrealized gain on the interest rate caps">214</span>) was reclassified to other comprehensive income to the Consolidated Statements of Income. The Company will continue to assess the effectiveness of the hedge on an ongoing basis. <span style="display: none"><span id="xdx_90E_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_i01N_di_c20250101__20251231_z0w23oOdTpci" title="Unrealized gain on the interest rate caps">0</span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> 484106000 0.0075 2026-11-30 7000000 2 0.0075 fourth quarter 2026 507891000 4952000 5170000 5372000 15370000 the Company has designated only a portion of its outstanding debt (initially, $253,946) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged 16600000 27027000 32549000 On April 4, 2024, the Company entered into a foreign exchange option strip (“FX option”) to purchase €3,000, with monthly settlements that started on April 11, 2024 and ended on March 13, 2025 417000 <p id="xdx_890_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_zQVY0Gc0rWVl" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_znUmBFY7G0Bh">Derivative Asset - Schedule of Derivative Assets (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: White"><td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Opening balance</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98B_eus-gaap--DerivativeAssets_iS_pn3n3_d0_c20250101__20251231_zdmSvkMZnrQ5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20,406</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--DerivativeAssets_iS_pn3n3_d0_c20240101__20241231_zvCw2gYDhCXi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>41,506</b></span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FX option premium</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DerivativePremiumPaid_iI_pn3n3_d0_c20251231_zuHgML2elLz8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="FX option premium"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">194</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--DerivativePremiumPaid_iI_pn3n3_d0_c20241231_zUmsAn5Q7io8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="FX option premium"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">249</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unrealized loss on derivative assets (interest rate caps)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--UnrealizedLossOnDerivativesInterestRateCaps_pn3n3_d0_c20250101__20251231_zQNblLPIBxR4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10,217)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_ecustom--UnrealizedLossOnDerivativesInterestRateCaps_pn3n3_d0_c20240101__20241231_z3XywmkwwBZ6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15,933)</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unrealized loss on FX option</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_981_ecustom--UnrealizedLossOnDerivatives_pn3n3_d0_c20250101__20251231_zVaYRYwU4Cci" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(197)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_ecustom--UnrealizedLossOnDerivatives_pn3n3_d0_c20240101__20241231_zeVoptTk0fs3" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(246)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair value adjustment on derivative asset</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20250101__20251231_ziqrN2AXbi49" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,952)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20240101__20241231_zArGfi1RWG6i" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,170)</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Closing balance</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_980_eus-gaap--DerivativeAssets_iE_pn3n3_c20250101__20251231_ztfhqKhTuSB6" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,234</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--DerivativeAssets_iE_pn3n3_c20240101__20241231_zqqsQBKgAwJ2" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>20,406</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of derivative assets (interest rate caps)</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_ecustom--DerivativeAssetsCurrentInterestRateCaps_iNI_pn3n3_di0_c20251231_zDz7JpSUoi4f" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,234)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_ecustom--DerivativeAssetsCurrentInterestRateCaps_iNI_pn3n3_di0_c20241231_zLw46nMOyx79" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14,434)</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of FX option</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--DerivativeAssetsCurrentFXOption_iNI_pn3n3_di0_c20251231_zKdH2zfPQFOa" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--DerivativeAssetsCurrentFXOption_iNI_pn3n3_di0_c20241231_zjfAbpgBi5Hl" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-current portion of derivative assets (interest rate caps)</b></span></td> <td style="border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_980_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_d0_c20251231_zHRMo6nbWjqh" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>—</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_c20241231_zyq5JGoNkPp2" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,969</b></span></td></tr> </table> 20406000 41506000 194000 249000 -10217000 -15933000 -197000 -246000 -4952000 -5170000 5234000 20406000 5234000 14434000 -0 3000 0 5969000 -877000 -214000 -0 <p id="xdx_805_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zcJ8llSzbIE3" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10. <span id="xdx_823_zrgKcOsFPlH9">Accounts Payable</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts payable as of December 31, 2025, and 2024 consisted of the following:</span></p> <p id="xdx_89B_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zlEjTroGivmd" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zhelpwLMjrkj">Accounts Payable (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_494_20251231_zHCzV946RQMc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49A_20241231_z5aVvio6GVT7" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"> </td> <td style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_408_ecustom--AccountsPayableToSuppliersAndRepairersCurrent_iI_pn3n3_maAPCz0Ba_zpzznC3xDgOe" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Suppliers, repairers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,319</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,884</span></td></tr> <tr id="xdx_40F_ecustom--PayablesToBrokerDealersAndClearingOrganizations1_iI_pn3n3_maAPCz0Ba_zgSigfSKYAph" style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurers, agents and brokers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">573</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">210</span></td></tr> <tr id="xdx_406_ecustom--AccountsPayableToCharterers_iI_pn3n3_maAPCz0Ba_zTGObSOljQui" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payables to charterers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,030</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,416</span></td></tr> <tr id="xdx_40B_ecustom--EUAsAccountsPayable_iI_pn3n3_d0_maAPCz0Ba_zQAfGWV3TOWg" style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EUAs</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 34,709</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 11,708</span></td></tr> <tr id="xdx_403_ecustom--FuelEUAccountsPayable_iI_pn3n3_d0_maAPCz0Ba_zvC4X4xGAU18" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FuelEU</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 10,539</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableOtherCurrent_iI_pn3n3_maAPCz0Ba_zrgBaHmfBt8i" style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other creditors</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">742</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,116</span></td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableCurrent_iTI_pn3n3_mtAPCz0Ba_zBwEOfF4JxBa" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-bottom: Black 2.25pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>61,912</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>26,334</b></span></td></tr> </table> <p id="xdx_8A7_zXTdWZMD0lG7" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_89B_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zlEjTroGivmd" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zhelpwLMjrkj">Accounts Payable (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_494_20251231_zHCzV946RQMc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49A_20241231_z5aVvio6GVT7" style="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"> </td> <td style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></p></td></tr> <tr id="xdx_408_ecustom--AccountsPayableToSuppliersAndRepairersCurrent_iI_pn3n3_maAPCz0Ba_zpzznC3xDgOe" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Suppliers, repairers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,319</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,884</span></td></tr> <tr id="xdx_40F_ecustom--PayablesToBrokerDealersAndClearingOrganizations1_iI_pn3n3_maAPCz0Ba_zgSigfSKYAph" style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurers, agents and brokers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">573</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">210</span></td></tr> <tr id="xdx_406_ecustom--AccountsPayableToCharterers_iI_pn3n3_maAPCz0Ba_zTGObSOljQui" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payables to charterers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,030</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,416</span></td></tr> <tr id="xdx_40B_ecustom--EUAsAccountsPayable_iI_pn3n3_d0_maAPCz0Ba_zQAfGWV3TOWg" style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">EUAs</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 34,709</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 11,708</span></td></tr> <tr id="xdx_403_ecustom--FuelEUAccountsPayable_iI_pn3n3_d0_maAPCz0Ba_zvC4X4xGAU18" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FuelEU</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 10,539</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> —</span></td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableOtherCurrent_iI_pn3n3_maAPCz0Ba_zrgBaHmfBt8i" style="background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other creditors</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">742</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,116</span></td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableCurrent_iTI_pn3n3_mtAPCz0Ba_zBwEOfF4JxBa" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-bottom: Black 2.25pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>61,912</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>26,334</b></span></td></tr> </table> 13319000 8884000 573000 210000 2030000 3416000 34709000 11708000 10539000 0 742000 2116000 61912000 26334000 <p id="xdx_80E_ecustom--AccountsPayableAndAccruedLiabilitiesDisclosure1TextBlock_zKHN7HJ2vMug" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>11. <span id="xdx_826_zZuMi0zN66mh">Accrued Liabilities</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued liabilities as of December 31, 2025, and 2024 consisted of the following:</span></p> <p id="xdx_891_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zKtKb5KMJL4" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zdbdYwE56e7l">Accrued Liabilities (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 63%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_498_20251231_z6XZ2ANl8lR9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_498_20241231_z3QO85G4MH7i" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 14%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td></tr> <tr id="xdx_40C_ecustom--AccruedExpenses_iI_pn3n3_maALCzLaG_z92GwQe7azZ2" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses <sup id="xdx_F42_zB2YMPtlmYi9">(1)</sup></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,655</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,308</span></td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzLaG_zbCHA79oifoc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued interest</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,618</span></td></tr> <tr id="xdx_407_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzLaG_z2aqBnBJYLX" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-bottom: Black 2.25pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>47,727</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>46,926</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F00_zfmXzYIYpwV2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="width: 99%"><span id="xdx_F15_z7Bzmg8ITH6g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, accrued expenses include $9,476 (December 31, 2024: $8,191), which reflects 1.00% commission payable to the commercial manager based on the purchase price of already acquired vessels that has been deferred and will be paid upon request of the commercial manager (see Note 14).</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_8A9_zI3HCaiV2N57" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p id="xdx_891_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zKtKb5KMJL4" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zdbdYwE56e7l">Accrued Liabilities (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 63%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_498_20251231_z6XZ2ANl8lR9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_498_20241231_z3QO85G4MH7i" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 14%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td></tr> <tr id="xdx_40C_ecustom--AccruedExpenses_iI_pn3n3_maALCzLaG_z92GwQe7azZ2" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued expenses <sup id="xdx_F42_zB2YMPtlmYi9">(1)</sup></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,655</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40,308</span></td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzLaG_zbCHA79oifoc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued interest</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,072</span></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,618</span></td></tr> <tr id="xdx_407_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzLaG_z2aqBnBJYLX" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td> <td style="border-bottom: Black 2.25pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>47,727</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>46,926</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F00_zfmXzYIYpwV2" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="width: 99%"><span id="xdx_F15_z7Bzmg8ITH6g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, accrued expenses include $9,476 (December 31, 2024: $8,191), which reflects 1.00% commission payable to the commercial manager based on the purchase price of already acquired vessels that has been deferred and will be paid upon request of the commercial manager (see Note 14).</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> 40655000 40308000 7072000 6618000 47727000 46926000 <p id="xdx_806_eus-gaap--LongTermDebtTextBlock_z1mcr5hKrMlg" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. <span id="xdx_82B_zOeo8Fdqedih">Long-Term Debt</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-term debt as of December 31, 2025, and 2024 consisted of the following:</span></p> <p id="xdx_89C_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zrfsXj9rAdWb" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zKpk1TpQvTf5">Long-Term Debt - Schedule of Long - Term Debt (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Facilities</span></b></span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UBS Credit Facility (a)</span></td> <td style="border-top: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zGiqdsBXDEkj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">   71,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zuaZODZZFQN2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024 Senior Secured Term Loan Facility (b)</span></td> <td></td> <td id="xdx_98E_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacility2024Member_zlwKTCMpTJvc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">   240,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></td> <td id="xdx_98A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacility2024Member_zis9mQg2aDPl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">288,000</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027 Secured Notes (c)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--SeniorNotes_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zRgkcSmyHn4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">179,375</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--SeniorNotes_iI_pn3n3_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zesVNjfKdQd8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">231,875</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Macquarie loan (d)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieLoanMember_zbgwVJ5PFaXe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1868">—</span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></td> <td id="xdx_988_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieLoanMember_zK9eA5aF8kTh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,500</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.SUN, MICB, Cathay, Taishin Credit Facility (e)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zAa3ZULfdLU8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1872">—</span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zp91sbA5Ihq6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,300</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (f)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_zjr4oMbzUFij" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1876">—</span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_zDTp5V8Ehr9j" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,111</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total credit facilities</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_982_eus-gaap--LongTermDebt_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zFOFzP7mfrk2" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>490,375</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98C_eus-gaap--LongTermDebt_iI_pn3n3_c20241231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zbbnBxC58qC4" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>603,786</b></span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sale and Leaseback Agreements</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minsheng Sale and Leaseback Agreements - $178,000 (m)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_zpDB67NTGOP" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">166,788</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--FinanceLeaseLiability_iI_pn3n3_d0_c20241231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_zj0Xp6HxOo14" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,500</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMBFL Sale and Leaseback Agreements - $120,000 (n)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--FinanceLeaseLiability_iI_pn3n3_d0_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zrsoSzZ6zJl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,546</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20241231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zp9VsDasxfHi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,813</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Sale and Leaseback Agreements</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20251231_z1iswFlTPNR9" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>204,334</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20241231_zpBqrdqodeyl" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>87,313</b></span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total borrowings</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--DebtAndCapitalLeaseObligations_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zip6g8DLqiUe" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>694,709</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_985_eus-gaap--DebtAndCapitalLeaseObligations_iI_pn3n3_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zshPK1s6RoQ9" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>691,099</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of long-term debt</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zVTbZQIDq7q" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(128,500)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zar27TYs6Wvd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(136,559)</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of Sale and Leaseback Agreements (m,n,o,p)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--FinanceLeaseLiabilityCurrent_iNI_pn3n3_di_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zKIvZhSUfB5d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (m,n,o,p)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(19,067)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--FinanceLeaseLiabilityCurrent_iNI_pn3n3_di_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zHpjcdbi0CRi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (m,n,o,p)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8,717)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Deferred financing costs (r)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_z4on2s2vVvmc" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (r)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,567)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_z6EzEYzgIWI4" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (r)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7,042)</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-current portion of Long-Term Debt</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_eus-gaap--LongTermDebtAndCapitalLeaseObligations_iI_pn3n3_d0_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_z7iHpW7VBC4e" style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> 541,575</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98D_eus-gaap--LongTermDebtAndCapitalLeaseObligations_iI_pn3n3_d0_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zy4yEUd61O2h" style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>538,781</b></span></td></tr> </table> <p id="xdx_8AC_zTsgasvXum5l" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities and Senior Secured Notes</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a) $85,000 UBS Credit Facility</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_908_eus-gaap--DebtInstrumentIssuanceDate1_pn3n3_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zs2HvZza5TEi">March 26, 2025</span>, the Company, through certain of its vessel-owning subsidiaries, entered into a $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_z7J611ELOoDa" title="Maximum Borrowing Capacity">85,000</span> credit facility with UBS AG (the “UBS Credit Facility”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The UBS Credit Facility is repayable in <span id="xdx_909_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_z6iC7dV9knv5" title="Number of repayments installments">12</span> equal consecutive <span id="xdx_90F_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zLzS1mydOfbl" title="Frequency of payments">quarterly</span> instalments of $<span id="xdx_903_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zdb7t49eesRj" title="Periodic Payment">7,000</span>, together with a final balloon payment of $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zNJ9FbdoVkV5" title="Balloon payment to be paid">1,000</span> payable together with the last repayment instalment due at maturity in the <span id="xdx_90C_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_z8yVBrYMGmcg">second quarter of 2028</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility bears interest at <span id="xdx_90E_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zH6AyHGydKch" title="Interest rate description">SOFR</span> plus a margin of <span id="xdx_907_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zlwbjdjfC5M">2.15</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_ecustom--CreditFacilityDescriptionOfScope_c20250101__20250326__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_z7jTffxg1rv9">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</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the full amount under the UBS Credit Facility had been drawn and the outstanding balance was $<span id="xdx_902_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zuHnwBQHy3J5">71,000</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b) $300,000 Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 7, 2024, the Company, through certain of its vessel-owning subsidiaries, entered into a $<span id="xdx_909_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_dd_c20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zmqshYeUgdy8" title="Maximum Borrowing Capacity">300,000</span> senior secured term loan facility (the “2024 Senior Secured Term Loan Facility”). As of December 31, 2024, the banks in this facility were: Credit Agricole Corporate and Investment Bank (“CACIB”), ABN AMRO Bank N.V. (“ABN”), Bank of America N.A. (“BofA”), First Citizens Bank &amp; Trust Company (“First Citizens”) and CTBC Bank Co. Ltd. (“CTBC”) to refinance, or prepay, in full or in part, certain of its outstanding debt facilities.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities and Senior Secured Notes (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>b) $300,000 Senior Secured Term Loan Facility CACIB, ABN, Bank of America, First Citizens Bank, CTBC (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All <span id="xdx_904_ecustom--NumberOfTranches_dc_uPure_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zyvEZf0MAJC">three</span> tranches were drawn down in the <span id="xdx_908_ecustom--DrawnDownDate_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zHMHoMkM4WF5">third quarter of 2024</span> and the term loan facility has a maturity in the <span id="xdx_901_ecustom--LineOfCreditFacilityExpirationDate_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_z0tuNGgISC1g">third quarter of 2030</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2024 Senior Secured Term Loan Facility is repayable in <span id="xdx_903_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zUdYfaOBqKU7">12</span> equal consecutive <span id="xdx_902_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_ziH3gXiQCp87">quarterly</span> instalments of $<span id="xdx_906_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zy5eNQ9O7VF1" title="Periodic Payment">12,000</span>, <span id="xdx_902_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--FirstFourInstallmentsMember_znAaTULG6Z0c">four</span> equal consecutive <span id="xdx_902_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--FirstFourInstallmentsMember_zs7SlPO5BXqi">quarterly</span> instalments of $<span id="xdx_90A_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--FirstFourInstallmentsMember_z1Yg9qTfQewc" title="Periodic Payment">10,000</span>, <span id="xdx_906_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--NextFourInstallmentsMember_zvL3Mlb6B5ed">four</span> equal consecutive <span id="xdx_90F_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--NextFourInstallmentsMember_z7Gf5OTf7ymj">quarterly</span> instalments of $<span id="xdx_909_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--NextFourInstallmentsMember_zeRjWf9aPm7e" title="Periodic Payment">8,000</span> and <span id="xdx_901_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--LastFourInstallmentsMember_z5tlez1gF0y5">four</span> equal consecutive <span id="xdx_908_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--LastFourInstallmentsMember_zQsn1qPbmFhi">quarterly</span> instalments of $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember__srt--StatementScenarioAxis__custom--LastFourInstallmentsMember_zyI0dOITpCA4" title="Periodic Payment">6,000</span> together with a final balloon payment of $<span id="xdx_906_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zYPnUnojmhZ1">60,000</span> on the term loan facility termination date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility’s interest rate is <span id="xdx_904_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zwzQnhZ894r">SOFR</span> plus a margin of <span id="xdx_90B_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zOGzXaetDand">1.85</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used the net proceeds from the 2024 Senior Secured Term Loan Facility <span id="xdx_906_ecustom--CreditFacilityDescriptionOfScope_c20240101__20240807__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zefxquX3lBM6">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 &amp; 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</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the aggregate principal amount outstanding under the 2024 Senior Secured Term Loan Facility was $<span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_zPKblX9BOOKe">240,000</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>c) 5.69% Senior Secured Notes due 2027</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_901_eus-gaap--DebtInstrumentIssuanceDate1_dd_c20250101__20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_z98yxJFKk7Mk" title="Issuance date">June 16, 2022</span>, Knausen Holding LLC (the "Issuer"), an indirect wholly-owned subsidiary of the Company, closed on the private placement of $<span id="xdx_90D_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_zzDIeIRzWoD6" title="Repurchased face amount">350,000</span>, led by Goldman Sachs &amp; Co. LLC., of publicly rated/investment grade <span id="xdx_901_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_zn2ydQ1UL07a">5.69</span>% Senior Secured Notes due 2027 (the “2027 Secured Notes”) to a limited number of accredited investors. The fixed interest rate was determined on June 1, 2022, based on the <span id="xdx_901_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20250101__20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_z00PZ6mBgGca" title="Description of Variable Rate Basis">interpolated interest rate of 2.84% plus a margin of 2.85% per annum</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used the net proceeds from the private placement <span id="xdx_90E_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_zIEO2RPPPz55">for the repayment of certain of the Company’s then-outstanding indebtedness and for general corporate purposes</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_zcggUdNtsCA9" title="Frequency of payments">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</span>. Interest accrues on the unpaid balance of the Notes, payable quarterly on the 15th day of January, April, July, and October in each year, such interest commencing and accruing on and from June 14, 2022.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2027 Secured Notes are senior obligations of the Issuer, were initially secured by first priority mortgages on <span id="xdx_901_eus-gaap--DebtInstrumentCollateral_c20250101__20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_zg7PiyEaBCw9" title="Collateral">20</span> identified vessels owned by subsidiaries of the Issuer (the “Subsidiary Guarantors”) and certain other associated assets and contract rights, as well as share pledges over the Subsidiary Guarantors. In addition, the 2027 Secured Notes are fully and unconditionally guaranteed by the Company.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the first quarter of 2025, Tasman, Keta and Akiteta were sold. All <span id="xdx_90C_ecustom--NumbersOfVesselsReleasedCollateral_iI_dc_uPure_c20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_zTHggNddkXd9">three</span> vessels were released as collateral under the 2027 Secured Notes. Further, Dimitris Y, was contracted to be sold in May 2025, was released as collateral on <span id="xdx_90B_eus-gaap--LineOfCreditFacilityCollateral_c20250101__20250531__us-gaap--LongtermDebtTypeAxis__custom--DimitrisYMember_zh7YocrQoggj" title="Collateral description">July 28, 2025, and was delivered to the new owners on October 13, 2025</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the aggregate principal amount outstanding under the 2027 Secured Notes was $<span id="xdx_900_eus-gaap--SeniorNotes_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027IMember_zBBT9FaheTc1">179,375</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities repaid in 2025</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>d) Macquarie Credit Facility</b></span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_90A_eus-gaap--DebtInstrumentIssuanceDate1_pn3n3_dd_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_z3L02mA9sgTa">May 18, 2023</span>, the Company, through certain of its vessel-owning subsidiaries, entered into a credit facility agreement with Macquarie Bank Limited (“Macquarie”) for an amount of $<span id="xdx_90C_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_dd_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zZm0hamuBTjc" title="Maximum Borrowing Capacity">76,000</span> <span id="xdx_903_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_ztQYLAqksaBd">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</span>. The vessels were delivered during the second quarter of 2023.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All <span id="xdx_90A_ecustom--NumberOfTranches_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zZy0u401pWL">four</span> tranches were drawdown in the <span id="xdx_90D_ecustom--DrawnDownDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zYyqRsrlnMT1">second quarter of 2023</span> and the credit facility had maturity in <span id="xdx_901_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_z08PxhUkaUui">May 2026</span>. The facility was repayable in <span id="xdx_903_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--TwoInstallmentsMember_zIGZQsvxnnN6">two</span> equal consecutive <span id="xdx_90F_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--TwoInstallmentsMember_zag8E24p6byh">quarterly</span> instalments of $<span id="xdx_904_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--TwoInstallmentsMember_zXXZrWuCQpub">5,000</span>, <span id="xdx_90A_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--SixInstallmentsMember_zMdhspaF2uti">six</span> equal consecutive <span id="xdx_905_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--SixInstallmentsMember_zw4YLFnxrJ0k">quarterly</span> instalments of $<span id="xdx_905_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--SixInstallmentsMember_zCgpgrzQd0r7">6,000</span> and <span id="xdx_906_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--OneInstallmentsMember_zTUZ4vLTmD41">one</span> <span id="xdx_909_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--OneInstallmentsMember_z4W0YKKICo0e">quarterly</span> instalments of $<span id="xdx_903_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--OneInstallmentsMember_zOmcKoTBqpUb">3,000</span> and <span id="xdx_907_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--TwoInstallmentsIMember_z0cna4wPHWz9">two</span> equal consecutive <span id="xdx_907_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--TwoInstallmentsIMember_zQbdD0Cpv9Ai">quarterly</span> instalments of $<span id="xdx_905_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember__srt--StatementScenarioAxis__custom--TwoInstallmentsIMember_zOgOWXfvqQRj">1,000</span> with a final balloon payment of $<span id="xdx_902_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zRdqMgRNB5ai" title="Balloon Payment to be Paid">25,000</span> payable three years after the first utilization date. This facility’s interest rate was <span id="xdx_908_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_z1Cez52idRWh">SOFR</span> plus a margin of <span id="xdx_908_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zzBMbBegZ0Pl">3.50</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 10, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to partially prepay the amount of $<span id="xdx_90C_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240910__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zn4xgkVMYTY5">18,500</span> under this facility (prepayment was deducted from the final balloon payment).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used the net proceeds from the UBS Credit Facility (see Note 12a) and prepaid in full, the following existing debt facilities (i) Macquarie Credit Facility (fully prepaid on April 3, 2025 the amount of $<span id="xdx_90B_eus-gaap--RepaymentsOfDebt_pn3n3_c20250101__20250403__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zhUMGz9dy055">17,500</span>), (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 $<span id="xdx_90F_eus-gaap--RepaymentsOfDebt_pn3n3_c20250101__20250403__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinCreditFacilityMember_zfIp2Xo5cjk6">46,818</span>). On March 28, 2025, the Company fully prepaid with its own cash the amount $<span id="xdx_901_eus-gaap--RepaymentsOfDebt_pn3n3_c20250101__20250328__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinCreditFacilityMember_zs1cR47yvw7c">5,900</span> of E.SUN, MICB, Cathay, Taishin Credit Facility, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025. Prepayment fee on full repayment of Macquarie Credit Facility was $<span id="xdx_904_ecustom--FeesOnRepaymentsOfDebt_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_zlWl1cspG4Qj">175</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_90B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityMember_znxCPJT2u2C5" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>e) $60,000 E.SUN, MICB, Cathay, Taishin Credit Facility</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_90D_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zOiqIGDxxYQ5">December 30, 2021</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, the Company, through certain of its vessel-owning subsidiaries, entered into a syndicated senior secured debt facility with E.SUN Commercial Bank Ltd (“E.SUN”), Cathay United Bank (“Cathay”), Mega International Commercial Bank Co. Ltd (“MICB”) and Taishin International Bank (“Taishin”). <span id="xdx_90C_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zLA73bNpgOAh">The Company used a portion of the net proceeds from this credit facility to fully prepay certain of the Company’s then-outstanding indebtedness</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. All <span id="xdx_908_ecustom--NumberOfTranches_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zo4bCfRQhh1g">three</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">tranches were drawn down in January 2022.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The facility was repayable in <span id="xdx_908_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--EightInstallmentsMember_zaHxq98kIbMe">eight</span> equal consecutive <span id="xdx_90C_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--EightInstallmentsMember_zIdfwmTTbkJ6">quarterly</span> instalments of $<span id="xdx_905_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--EightInstallmentsMember_zDjqQHzi65Ge">4,500</span> and <span id="xdx_90B_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--TenInstallmentsMember_zcxi8I3EMAua">ten</span> equal consecutive <span id="xdx_900_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--TenInstallmentsMember_zTTQtNdgNon3">quarterly</span> instalments of $<span id="xdx_90E_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--TenInstallmentsMember_zle52touiVlb">2,400</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility’s interest was <span id="xdx_904_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zNqEQY9aIy3e">SOFR</span> plus a margin of <span id="xdx_90D_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zzpERasU7XIa">2.75</span>% per annum plus Credit Adjustment Spread (“CAS”) payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 11, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to partially prepay the amount of $<span id="xdx_908_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240911__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zT8TbU6234fg">8,500</span> under this facility. Following the prepayment, the outstanding balance of the facility was repayable in <span id="xdx_904_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--FourInstallmentsMember_znCRk01z0Qe">four</span> equal consecutive <span id="xdx_903_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--AfterSeptember112024Member_zojiGO6XkdXd">quarterly</span> instalments of $<span id="xdx_900_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--FourInstallmentsMember_zpRO6rAxrBh2">2,400</span> and <span id="xdx_908_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--OneInstallmentsMember_zNqltkx6Icr">one</span> <span id="xdx_904_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--FourInstallmentsMember_zP1oAZXBukGc">quarterly</span> instalment of $<span id="xdx_906_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember__srt--StatementScenarioAxis__custom--OneInstallmentsMember_zCCdkyuMWThd">1,100</span> and new maturity would have been in <span id="xdx_906_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20251031__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zvFv7NJ18vKd">October 2025</span> from <span id="xdx_90C_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20260731__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_zhruZ95x4cmj">July 2026</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 28, 2025, the Company fully prepaid the amount of $<span id="xdx_906_eus-gaap--RepaymentsOfDebt_pn3n3_c20250101__20250328__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_z7Shx5lBkIJh">5,900</span> under this facility with its own cash, as no drawdown of the UBS Credit Facility had taken place during the first quarter of 2025 (see Note 12a).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_90E_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinIMember_z4kzFFUnOPa5" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p><p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities repaid in 2025</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>f) $140,000 HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility</b> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_90A_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zccd2oXeSsk2">July 6, 2021</span>, the Company, through certain of its vessel-owning subsidiaries, entered into a facility with CACIB, Hamburg Commercial Bank AG (“HCOB”), ESUN, CTBC and Taishin for a total of $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_znj7jZjnwnqd">140,000</span> <span id="xdx_902_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zSVHIlYBPVj7">to finance the acquisition of the Twelve Vessels</span>. The full amount was drawdown in <span id="xdx_906_ecustom--DrawnDownDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zuxK2qpN0tl9">July 2021</span> and the credit facility had a maturity in <span id="xdx_903_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zoQXdHKWElil">July 2026</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The facility was repayable in <span id="xdx_907_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--FirstSixInstallmentsMember_zZGBY29xtNL7">six</span> equal consecutive <span id="xdx_908_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--FirstSixInstallmentsMember_z90T3Ji5e5Vd">quarterly</span> instalments of $<span id="xdx_902_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--FirstSixInstallmentsMember_znyiLdu5DQS9">8,000</span>, <span id="xdx_90E_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--NextEightInstallmentsMember_zfFNH7qaxk25">eight</span> equal consecutive <span id="xdx_900_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--NextEightInstallmentsMember_zEzVJ8LCwKPl">quarterly</span> instalments of $<span id="xdx_907_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--NextEightInstallmentsMember_zWTTeykyEWig">5,400</span> and <span id="xdx_907_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--LastSixInstallmentsMember_zykk0wRkGbl5">six</span> equal consecutive <span id="xdx_906_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--LastSixInstallmentsMember_zZS4UTQBM8N9">quarterly</span> instalments of $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--LastSixInstallmentsMember_zVOAs3DXg4zi">2,200</span> with a final balloon payment of $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zBCFwBle64Pg">35,600</span> payable together with the final instalment. On March 23, 2023, due to the sale of GSL Amstel, the Company repaid $<span id="xdx_907_eus-gaap--RepaymentsOfDebt_pn3n3_c20230101__20230323__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_z0jx20k7ZaCc">2,838</span> on this facility of which $<span id="xdx_907_ecustom--DeductionFromTheBalloonInstallment_pn3n3_c20230101__20230323__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_z7MV78seMAf3">1,000</span> was deducted from the final balloon payment, and <span id="xdx_903_eus-gaap--LineOfCreditFacilityCollateral_c20250101__20250523__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAmstelMember_zx07lDW7Tf9e">the vessel was released as collateral</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility’s interest rate was <span id="xdx_909_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zt8nWTgdRPv6">SOFR</span> plus a margin of <span id="xdx_90B_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_z72kl04Kgpnk">3.25</span>% per annum plus a CAS payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used the net proceeds from the UBS Credit Facility (see Note 12a) to prepay in full, the following existing debt facilities (i) Macquarie Credit Facility, (ii) E.SUN, MICB, Cathay, Taishin Credit Facility, and (iii) HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zg5wk1aa9hZf" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities repaid in 2024</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>g) $12,000 Sinopac Capital International Credit Facility</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_90A_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zB41vzqf8RH5">August 27, 2021</span>, the Company, through certain of its vessel-owning subsidiaries, entered into a secured credit facility for an amount of $<span id="xdx_906_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_dd_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zmcf617ODeik" title="Maximum Borrowing Capacity">12,000</span> with Sinopac Capital International (HK) Limited (“Sinopac Credit Facility”), which was <span id="xdx_90B_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zgkd4XRy2Cj1">partially used to fully refinance certain of the Company’s then-outstanding indebtedness</span>. The full amount was drawn down in <span id="xdx_903_ecustom--DrawnDownDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zhrjDqytf12k">September 2021</span> and the credit facility had a maturity in <span id="xdx_90A_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zjiQhhrWhuV5">September 2026</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The facility was repayable in <span id="xdx_90D_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zbLfTHqLCYxb">20</span> equal consecutive <span id="xdx_90B_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zM3aS0BDqvZk">quarterly</span> instalments of $<span id="xdx_909_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_z6YrBMs6Tpv4">420</span> with a final balloon of $<span id="xdx_90D_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zOlAg9Sj3RMh">3,600</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility bore interest at <span id="xdx_906_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zPKwAud17mW9">SOFR</span> plus a margin of <span id="xdx_902_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zbJIRYrVycm1">3.25</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 11, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, and fully prepaid the amount of $<span id="xdx_907_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240911__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zf0TGMMHAvK9">6,960</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_90B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zAIZRz68Nwrh" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>h) $51,670 Deutsche Bank AG Credit Facility</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_901_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_znrYTyomsY31">May 6, 2021</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, the Company, through certain of its vessel-owning subsidiaries, entered into a secured facility for an amount of $<span id="xdx_905_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zSjL4DYb3Jue">51,670</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">with Deutsche Bank AG (the “Deutsche Bank Credit Facility”), <span id="xdx_909_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zBqleKdrX0jb">for which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The facility was repayable in <span id="xdx_901_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zfZJZ1SrELOg">20</span> equal consecutive <span id="xdx_902_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_z2heL4IuySp5">quarterly</span> instalments of $<span id="xdx_90C_eus-gaap--LineOfCreditFacilityPeriodicPayment_pdn3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_z4Xq4CRDRur4">1,162.45</span> with a final balloon of $<span id="xdx_90C_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_z2VQppSC1ofe">28,421</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility bore interest at <span id="xdx_905_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zcvQwnk5RTHl">SOFR</span> plus a margin of <span id="xdx_90A_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zlKY8UyEJjxe">3.25</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 12, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to fully prepay the amount of $<span id="xdx_901_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240812__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zbLIllUiS6z6">36,558</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zVKYW9i61Oea" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities repaid in 2024 (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>i) $64,200 Hamburg Commercial Bank AG Credit Facility</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_906_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zEFNPKr9Kdv9">April 15, 2021</span>, the Company, through certain of its vessel-owning subsidiaries, entered into a Senior Secured term loan facility with HCOB “the HCOB Credit Facility” for an amount of up to $<span id="xdx_90F_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zU9KKo5dMrQh" title="Maximym Borrowing Capacity">64,200</span> <span id="xdx_90B_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zy81YwMn5gv7">in order to finance the acquisition of six out of the Seven Vessels</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tranche A, E and F amounting to $<span id="xdx_909_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20210430__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheAEFMember_z3rz2p2mg0G2">32,100</span> were drawn down in April 2021 and had a maturity date in <span id="xdx_902_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheAEFMember_zpVAPtRC41Xf">April 2025</span>, Tranche B and D amounting to $<span id="xdx_908_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20210531__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheBDMember_zDvtT9S1rT5k">21,400</span> were drawn down in May 2021 and had a maturity date in <span id="xdx_90D_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheBDMember_zzYBmV8AmFG">May 2025</span>, and Tranche C amounting to $<span id="xdx_903_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20210731__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheCMember_zXFJlH6rQ35h">10,700</span> was drawn down in July 2021 and had a maturity date in <span id="xdx_90B_ecustom--LineOfCreditFacilityExpirationDate_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheCMember_z0ApKTokn9q3">July 2025</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each Tranche of the facility was repayable in <span id="xdx_90C_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--EachTrancheMember_zJttByZPF6Yf">16</span> equal consecutive <span id="xdx_908_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--EachTrancheMember_zJEF8HPj6LTf">quarterly</span> instalments of $<span id="xdx_907_eus-gaap--LineOfCreditFacilityPeriodicPayment_pin3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--EachTrancheMember_zZlKdhlY2euc" title="Periodic Payment">668.75</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility bore interest at <span id="xdx_90B_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zIJF8nwEyptk">SOFR</span> plus a margin of <span id="xdx_900_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_z2UMCIlTMPrd">3.50</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 5, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to fully prepay the amount of $<span id="xdx_907_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240905__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zypaQ7E05ePj">12,706</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_909_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zDm1IBGLIA39" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>j) $51,700 CACIB, Bank Sinopac, CTBC Credit Facility</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_90C_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zN7szRLxKSfg">April 13, 2021</span>, the Company, through certain of its vessel-owning subsidiaries, entered into a secured facility for an amount of $<span id="xdx_90F_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zdJeOZN3pKNc" title="Maximum Borrowing Capacity">51,700</span>, <span id="xdx_904_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_z9PUGe5q8vJ">for which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The lenders were CACIB, Bank Sinopac Co. Ltd. (“Bank Sinopac”) and CTBC. The facility was repayable in <span id="xdx_907_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zWFD6OZ2iHfc">20</span> equal consecutive <span id="xdx_905_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zXEIgPgbNeF2">quarterly</span> instalments of $<span id="xdx_90F_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zn1QZD4Z1Kg2" title="Periodic Payment">1,275</span> with a final balloon of $<span id="xdx_900_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zvcAqdx96X9a">26,200</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility bore interest at <span id="xdx_90E_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zCNJNdalNvyg">SOFR</span> plus a margin of <span id="xdx_909_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zo0XQ2m1kOMa">2.75</span>% per annum plus a CAS payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 9, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to fully prepay the amount of $<span id="xdx_902_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240809__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zsByFVVcNPua">35,125</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_902_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zkpqdAuyViUj" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>k) $9,000 Chailease Credit Facility</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_909_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zEtIz0mxUW33">February 26, 2020</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, the Company, through certain of its vessel-owning subsidiaries, entered into a secured term facility agreement with Chailease International Financial Services Pte., Ltd. for an amount of $<span id="xdx_907_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zHtN0P7so6r3" title="Maximum Borrowing Capacity">9,000</span>. The Chailease Credit Facility was used <span id="xdx_904_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_z8qJ617Nic0j">to refinance certain of the Company’s then-outstanding indebtedness</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The facility was repayable in 36 consecutive <span id="xdx_902_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--ThirtysixInstallmentsMember_zp5aUyn2uesd">monthly</span> instalments of $<span id="xdx_903_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--ThirtysixInstallmentsMember_zk6IPQYH7Unc" title="Periodic Payment">156</span> and 24 <span id="xdx_906_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--TwentyFourInstallmentsMember_zXDxVytZV0Y1">monthly</span> instalments of $<span id="xdx_908_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--TwentyFourInstallmentsMember_zngGfZYz0vMk" title="Periodic Payment">86</span> with a final balloon of $<span id="xdx_904_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zzzWe93fb1M3">1,314</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This facility bore interest at <span id="xdx_908_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zqWVixeHwvzb">SOFR</span> plus a margin of <span id="xdx_90F_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zrUbz54c59O5">4.20</span>% per annum.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 12, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to fully prepay the amount of $<span id="xdx_90B_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240912__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zAAkKsBxkNZ7">1,831</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_900_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zW7mUuFu4kOe" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Facilities repaid in 2024 (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>l) $268,000 Syndicated Senior Secured Credit Facility (CACIB, ABN, First-Citizens &amp; Trust Company, Siemens, CTBC, Bank Sinopac, Palatine)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_908_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zf4hzYkybY48">September 19, 2019</span>, the Company, through certain of its vessel-owning subsidiaries, entered into a syndicated senior secured credit facility (the “Syndicated Senior Secured Credit Facility”) <span id="xdx_903_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_z93blfw7v9Wj">in order to refinance existing credit facilities that had a maturity date in December 2020, of an outstanding amount of $224,310</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Senior Syndicated Secured Credit Facility was agreed to be borrowed in <span id="xdx_905_ecustom--NumberLoanTranches_dc_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zvBaKi1upqi2">two</span> tranches. The Lenders were CACIB, ABN, First-Citizens &amp; Trust Company, Siemens Financial Services Inc (“Siemens”), CTBC, Bank Sinopac and Banque Palatine (“Palatine”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tranche A amounting to $<span id="xdx_900_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20190101__20190924__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_z44mk8o5fAoa">230,000</span> was drawn down in full on September 24, 2019, and was scheduled to be repaid in <span id="xdx_90F_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zQJZDn5zCCUk">20</span> consecutive <span id="xdx_90A_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zcONAj6eq1S6">quarterly</span> instalments of $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zb84Zn0OQLS4">5,200</span> starting from December 12, 2019, and a balloon payment of $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zJJdcaGwvui8">126,000</span> payable on September 24, 2024.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tranche B, amounting to $<span id="xdx_90A_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20200101__20200210__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zZN6Dcm7Eq65">38,000</span> was drawn down in full on February 10, 2020, and was scheduled to be repaid in <span id="xdx_909_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zHvJKH5WKaA8">20</span> consecutive <span id="xdx_903_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zYrhBkc6282a">quarterly</span> instalments of $<span id="xdx_90F_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zppdfMzFS5tj">1,000</span> and a balloon payment of $<span id="xdx_905_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zLlFaTTuEjCe">18,000</span> payable on the termination date on the fifth anniversary from the utilization date of Tranche A, which falls in September 24, 2024. In <span id="xdx_90F_ecustom--LineOfCreditFacilityInitiationDate3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIIMember_zDfHzwlYvD0h">January 2022</span>, the Company agreed to a new senior secured debt facility <span id="xdx_908_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIIMember_z5LI0Vv9H8mg">to refinance its outstanding Syndicated Senior Secured Credit Facility</span>, which extended the maturity date from September 2024 to <span id="xdx_903_ecustom--LineOfCreditFacilityExpirationDate_dd_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIIMember_zxOCzY2Efm8j">December 2026</span>, <span id="xdx_902_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zTrHkhsrY1Ak">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 <span id="xdx_902_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIIMember_zH3TRy9uh76g">3.00</span>% plus a CAS and was payable at each quarter end date</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 9, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to fully prepay the amount of $<span id="xdx_909_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240809__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zGOtnKo6lx4j">133,200</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this facility was $nil. <span id="xdx_90A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zGGLeBqe0Cdl" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sale and leaseback agreements (finance leases)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>m) $178,000 Sale and Leaseback Agreements – Minsheng Financial Leasing</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 23, 2024, the Company, through certain of its subsidiaries, entered into <span id="xdx_900_ecustom--NumberOfSaleAndLeasebackAgreements_dc_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementDecember2024Member_zsARhreLkkqa">two</span> sale and leaseback agreements with Minsheng Financial Leasing (“Minsheng Sale and Leaseback Agreements”) for $<span id="xdx_903_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20241223__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementDecember2024Member_zJBjcm5sVR09">44,500</span>, each, <span id="xdx_907_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementDecember2024Member_zdyTusP02ilg">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</span>. As of December 31, 2024, the Company had drawdown a total of $<span id="xdx_904_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementDecember2024Member_zc56gsUdRNg6">44,500</span> to finance the acquisition of Bremerhaven Express. During the first quarter of 2025, the Company entered into <span id="xdx_909_ecustom--NumberOfSaleAndLeasebackAgreements_dc_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementJanuary2025Member_zXyteFxdhDu9">two</span> additional sale and leaseback agreements, $<span id="xdx_90A_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20250331__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementJanuary2025Member_zLgO9Fjy7cta">44,500</span> each, <span id="xdx_908_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementJanuary2025Member_z9WSw1gwFz02">to finance the acquisition of the two high-reefer ECO 9,019 TEU Vessels</span> which were delivered in December 2024, Istanbul Express and Sydney Express, both at that moment fully paid in cash. As at March 31, 2025, the Company had drawdown a total of $<span id="xdx_90B_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__srt--StatementScenarioAxis__custom--TwoSaleAndLeasebackAgreementJanuary2025Member_zk41kQ5OIrjf">178,000</span>. The Company has a purchase obligation to acquire the vessels at the end of their lease term and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreements as financial liability.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sale and leaseback agreements are repayable in <span id="xdx_900_ecustom--NumberOfRepaymentInstallment_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember_zIBcmTDv7DZ6">40</span> equal consecutive <span id="xdx_900_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember_zR7XJPz3bQR7" title="Frequency of payments">quarterly</span> instalments of $<span id="xdx_902_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember_z4I5bujBYvxc">862.5</span> with a repurchase obligation of $<span id="xdx_90F_eus-gaap--PurchaseObligation_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember_zhtfntieSVuf">10,000</span> on the final repayment date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sale and leaseback agreement for Bremerhaven Express matures in <span id="xdx_90C_ecustom--FinanceLeaseLiabilityMaturityDates_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--BremerhavenExpressMember_zIMQrhXJSeNj" title="Maturity Date">December 2034</span>, Istanbul Express, Sydney Express and Czech mature in <span id="xdx_90C_ecustom--FinanceLeaseLiabilityMaturityDates_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--IstanbulExpressSydneyExpressAndCzechsMember_zsf2p0E2sZr6" title="Maturity Date">January 2035</span>, and bear interest at <span id="xdx_900_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember_zf2m1WVn2Qlk" title="Interest rate description">SOFR</span> plus a margin of <span id="xdx_907_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember_zHYittjKOc59">2.5</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of these sale and leaseback agreements was $<span id="xdx_905_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsMinshengMember_zrkamz0FA34a">166,788</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sale and leaseback agreements (finance leases) (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n) $120,000 Sale and Leaseback Agreements – CMBFL Four Vessels</b> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_903_eus-gaap--SaleLeasebackTransactionDate_dd_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zYhuIbRqp9Ke">August 26, 2021</span>, the Company, through certain of its subsidiaries, entered into <span id="xdx_90D_ecustom--NumberOfSaleAndLeasebackAgreements_dc_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_znTwJGGARTg6">four</span> $<span id="xdx_90A_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20210826__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zdX6K6M1CXP8" title="Outstanding amount">30,000</span> sale and leaseback agreements with CMB Financial Leasing Co. Ltd. (“CMBFL”) <span id="xdx_90F_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zQ7pnO5Yrtwd">to finance the acquisition of the Four Vessels (the “CMBFL Sale and Leaseback Agreement”)</span>. As at September 30, 2021, the Company had drawdown a total of $<span id="xdx_90E_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20210930__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zzGr1hO8gEy9">90,000</span>. The drawdown for the fourth vessel, amounting to $<span id="xdx_906_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20211013__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zi3kpHyW8mIe">30,000</span>, took place on October 13, 2021, together with the delivery of this vessel. The Company has a purchase obligation to acquire the Four Vessels at the end of their lease terms and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreement as financial liabilities.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each sale and leaseback agreement is repayable in <span id="xdx_90A_ecustom--NumberOfRepaymentInstallment_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__srt--StatementScenarioAxis__custom--FirstTwelveQuarterlyInstallmentsMember_zvJkUkyEFIje">12</span> equal consecutive <span id="xdx_903_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__srt--StatementScenarioAxis__custom--FirstTwelveQuarterlyInstallmentsMember_zwu0uhiMzZ6f">quarterly</span> instalments of $<span id="xdx_90A_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__srt--StatementScenarioAxis__custom--FirstTwelveQuarterlyInstallmentsMember_zdyLZSUrjstk">1,587.5</span> and <span id="xdx_901_ecustom--NumberOfRepaymentInstallment_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__srt--StatementScenarioAxis__custom--NextTwelveQuarterlyInstallmentsMember_zyBuqj7RyRn7">12</span> equal consecutive <span id="xdx_908_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__srt--StatementScenarioAxis__custom--NextTwelveQuarterlyInstallmentsMember_ze3r0Dxva5de">quarterly</span> instalments of $<span id="xdx_903_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__srt--StatementScenarioAxis__custom--NextTwelveQuarterlyInstallmentsMember_zdK59awKV30h">329.2</span> with a repurchase obligation of $<span id="xdx_901_eus-gaap--PurchaseObligation_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zdc18xVAMtw5">7,000</span> on the final repayment date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sale and leaseback agreements for the three vessels mature in <span id="xdx_90C_ecustom--FinanceLeaseLiabilityMaturityDates_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeOutOfFourCMBFLVesselsMember_zGXx1INRVzH2" title="Maturity Date">September 2027</span> and for the fourth vessel in <span id="xdx_90D_ecustom--FinanceLeaseLiabilityMaturityDates_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourthCMBFLVesselsMember_zaTwKFJLrJ5a" title="Maturity Date">October 2027</span> and bear interest at <span id="xdx_906_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zM7NQ2BqbLF7">SOFR</span> plus a margin of <span id="xdx_902_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zVwSsAr5pU7a" title="Basis Spread on Variable Rate">3.25</span>% per annum plus a CAS payable quarterly in arrears. From November 20, 2024, as per supplemental agreement, the sale and leaseback agreements bear interest at <span id="xdx_90C_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zLW9WOX2ztqh">SOFR</span> plus a margin of <span id="xdx_905_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20240101__20241120__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_zrfQNFUp5jj1">2.75</span>% per annum.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of these sale and leaseback agreements was $<span id="xdx_901_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackAgreementsCMBFLMember_z6FUrPmbWBrd">37,546</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sale and leaseback agreements (finance leases) repaid in 2024</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>o) $54,000 Sale and Leaseback Agreement – CMBFL</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_902_eus-gaap--SaleLeasebackTransactionDate_dd_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zOaC6kOfOI9b">May 20, 2021</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, the Company, through one of its subsidiaries, entered into a $<span id="xdx_904_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20210520__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_ztzosat8NvLd">54,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">sale and leaseback agreement with CMBFL (the “$54,000 CMBFL Sale and Leaseback”), <span id="xdx_901_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zBgNRZ3nyh3g">for which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness</span></span>. <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had a purchase obligation to acquire the vessel at the end of the lease term and under ASC 842-40, the transaction had been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessel from its balance sheet and accounted for the amount received under the sale and leaseback agreement as a financial liability.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sale and leaseback agreement was repayable in <span id="xdx_90B_ecustom--NumberOfRepaymentInstallment_dc_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--EightInstalmentsMember_zZQn1hG0xW67">eight</span> equal consecutive <span id="xdx_90A_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--EightInstalmentsMember_zqWWu1ezADd4">quarterly</span> instalments of $<span id="xdx_90E_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pn3n3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--EightInstalmentsMember_zA4UVQCksGkb">2,025</span> each and <span id="xdx_902_ecustom--NumberOfRepaymentInstallment_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--TwentyInstalmentsMember_zn9AIx7Rp9H2">20</span> equal consecutive <span id="xdx_90B_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--TwentyInstalmentsMember_zJCgL9ZKakpe">quarterly</span> instalments of $<span id="xdx_904_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pn3n3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--TwentyInstalmentsMember_z0ea1535GMU2">891</span> with a repurchase obligation of $<span id="xdx_90B_eus-gaap--PurchaseObligation_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zQgv8eSGZ3Mh">19,980</span> on the final repayment date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sale and leaseback agreement matured in <span id="xdx_908_ecustom--FinanceLeaseLiabilityMaturityDates_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_z6nzvwErDE01">May 2028</span> and bore interest at <span id="xdx_908_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zlg8ijkfkkah">SOFR</span> plus a margin of <span id="xdx_902_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zYwCeF7lqrzh">3.25</span>% per annum plus a CAS payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In May 2021, on the actual delivery date of the vessel, the Company drew $<span id="xdx_900_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20210531__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_z3qVXlMiqm44">54,000</span>, which represented vessel purchase price $<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20210531__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_ztXAabAePjm3">75,000</span> less advanced hire of $<span id="xdx_90C_ecustom--AdvanceHire_iI_pn3n3_c20210531__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zZl0Wik5Jns9">21,000</span>, which advanced hire neither bore any interest nor was refundable and was set off against payment of the purchase price payable to the Company by the unrelated third party under this agreement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 27, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to fully prepay the amount of $<span id="xdx_90F_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240827__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zAxQhL3JQgjl">33,345</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this sale and leaseback agreement was $nil. <span id="xdx_90C_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zVR7vtHqzs3b" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sale and leaseback agreements (finance leases) repaid in 2024 (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>p) $14,700 Sale and Leaseback Agreement - Neptune Maritime Leasing</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_903_eus-gaap--SaleLeasebackTransactionDate_dd_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_ztR1pIY60oA4">May 12, 2021</span>, the Company, through one of its subsidiaries, entered into a $<span id="xdx_909_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20210512__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zsGC4kuI5mbd" title="Outstanding amount">14,735</span> sale and leaseback agreement with Neptune Maritime Leasing (the “Neptune Sale and Leaseback Agreement”) <span id="xdx_907_ecustom--CreditFacilityDescriptionOfScope_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_z6MCiIGBEbaf">to finance the acquisition of GSL Violetta delivered in April 2021</span>. The Company had a purchase obligation to acquire the vessel at the end of the lease term and under ASC 842-40, the transaction had been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessel from its balance sheet and accounted for the amount received under the sale and leaseback agreement as a financial liability. In May 2021, the Company drew $<span id="xdx_906_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20210531__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zKovpSKvIvC8">14,735</span> under this agreement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sale and leaseback agreement was repayable in <span id="xdx_904_ecustom--NumberOfRepaymentInstallment_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FifteenInstalmentsMember_zBdsRcsslPKd">15</span> equal consecutive <span id="xdx_90F_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FifteenInstalmentsMember_zKJyo3tb48pf">quarterly</span> instalments of $<span id="xdx_908_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FifteenInstalmentsMember_zYhYpAG15cB5">793.87</span> each and <span id="xdx_904_ecustom--NumberOfRepaymentInstallment_dc_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FourInstalmentsMember_zPuaBSYu9Svf">four</span> equal consecutive <span id="xdx_909_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FourInstalmentsMember_zE4kqve9bcR3">quarterly</span> instalments of $<span id="xdx_903_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FourInstalmentsMember_z3eaWcBsSVzg">469.12</span> with a repurchase obligation of $<span id="xdx_90D_eus-gaap--PurchaseObligation_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zXTOrbUCRMS">950</span> on the last repayment date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The sale and leaseback agreement matured in <span id="xdx_907_ecustom--FinanceLeaseLiabilityMaturityDates_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zDOkXtymQq7d" title="Maturity Date">February 2026</span> and bore interest at <span id="xdx_90E_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_z03WVuz3C8Q7" title="Interest Rate Description">SOFR</span> plus a margin of <span id="xdx_905_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20250101__20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zfJRGyrduFw2" title="Basis Spread on Variable Rate">4.64</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 12, 2024, the Company used a portion of the net proceeds from the 2024 Senior Secured Term Loan Facility entered on August 7, 2024, to fully prepay the amount of $<span id="xdx_903_eus-gaap--RepaymentsOfDebt_pn3n3_c20240101__20240912__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zZH4X3tuxF4e">4,414</span> under this facility.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the outstanding balance of this sale and leaseback agreement was $nil. <span id="xdx_905_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zh08pFN3PSA6" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>q) Repayment Schedule</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maturities of long-term debt for the years subsequent to December 31, 2025, are as follows:</span></p> <p id="xdx_892_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zc189KOB1m2h" style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zOxYqzA7VmPa" style="display: none">Long-Term Debt - Repayment Schedule (Table)</span></span></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr><td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 88%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_498_20251231_zCVw09LIzMGl" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Payment due by year ended</b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_iI_pn3n3_maTlongtermdebt_zqrUQ3wIKkIf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2026</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">147,567</span></td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo_iI_pn3n3_maTlongtermdebt_z0y5MndZLp4b" style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2027</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">246,954</span></td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree_iI_pn3n3_maTlongtermdebt_zmtfgynlgLge" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2028</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66,800</span></td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour_iI_pn3n3_maTlongtermdebt_zDI2ExTBuHo9" style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2029</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,800</span></td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive_iI_pn3n3_maTlongtermdebt_zxn8iaZGlm3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2030</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 91,800</span></td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive_iI_pn3n3_maTlongtermdebt_zZ9PGnslE8w5" style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2031 and thereafter</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,788</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_980_eus-gaap--DebtAndCapitalLeaseObligations_iTI_pn3n3_mtTlongtermdebt_c20251231_zz07imJS5nS4" style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>694,709</b></span></td></tr> </table> <p id="xdx_8A0_zw9iYDu7PA05" style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>r) Deferred Financing Costs</b></span></p> <p id="xdx_89B_ecustom--ScheduleOfDeferredFinancingCostsTableTextBlock_zLGnvgAcwW96" style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zl0h86EQesJ8">Long-Term Debt - Schedule of Deferred Financing Costs (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr><td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49B_20250101__20251231_zBHrl4nl1oG8" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_491_20240101__20241231_zhtUwn8zP2t5" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></p></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></p></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iS_pn3n3_zpBJ7gjYb1f4" style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,042</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,750</span></td></tr> <tr id="xdx_401_ecustom--AdditionalDeferredFinancingCosts_pn3n3_zStNGomTzXLe" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expenditure in the period</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,185</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,120</span></td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pn3n3_zE2ibalp6NQ6" style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization included within interest expense</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,660)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6,828)</span></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iE_pn3n3_z9ZSTeq3CQyi" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Closing balance</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,567</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7,042</b></span></td></tr> </table> <p id="xdx_8A5_zHNqM1STyrGe" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 0pt; text-align: justify"><span> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2025, total costs amounting to $<span id="xdx_904_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsMinshengMember_z7C37EZN2wyj" title="Fees and related costs deferred">1,335</span> were incurred in connection with the Minsheng Sale and Leaseback Agreements (see Note 12m) and $<span id="xdx_90B_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20250101__20251231__us-gaap--LongtermDebtTypeAxis__custom--UBSCreditFacilityMember_zPKMvR7eYGK2">850</span> in connection with the UBS Credit Facility (see Note 12a).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2024, total costs amounting to $<span id="xdx_90B_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20240101__20241231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacilityCACIBABNMember_z7mFpReUmva3" title="Fees and related costs deferred">2,625</span> were incurred in connection with 2024 Senior Secured Term Loan Facility (CACIB, ABN, BofA, First Citizens, CTBC) (see note 12b) and $<span id="xdx_907_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20240101__20241231__us-gaap--LongtermDebtTypeAxis__custom--SaleLeasebackAgreementsMinshengMember_z6ZNWVaqZeO2">495</span> in connection with the Minsheng Sale and Leaseback Agreements (see Note 12m).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2023, total costs amounting to $<span id="xdx_907_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20250101__20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieCreditFacilityAMember_z0eMSH5aZWAk" title="Fees and related costs deferred">1,140</span> were incurred in connection with the Macquarie Credit Facility (see note 12d).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ending December 31, 2025, 2024 and 2023, the Company recognized a total of $<span id="xdx_905_eus-gaap--AmortizationOfFinancingCosts_pn3n3_c20250101__20251231_zLkpzCJ7Jyah">3,660</span>, $<span id="xdx_90A_eus-gaap--AmortizationOfFinancingCosts_pn3n3_c20240101__20241231_z99UTUKrZL4i">6,828</span>, and $<span id="xdx_90D_eus-gaap--AmortizationOfFinancingCosts_pn3n3_c20230101__20231231_zE42upL0eQhl">5,526</span>, respectively, in respect of amortization of deferred financing costs.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>s) Debt covenants-securities</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--DebtInstrumentCovenantDescription_c20250101__20251231_zDq4pNmkO4v7" title="Covenant Description">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</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--DebtInstrumentCovenantCompliance_c20250101__20251231_zFPhYky5pVY5" title="Covenant Compliance">As of December 31, 2025, and December 31, 2024, the Company was in compliance with its debt covenants</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p id="xdx_89C_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_zrfsXj9rAdWb" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_zKpk1TpQvTf5">Long-Term Debt - Schedule of Long - Term Debt (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Facilities</span></b></span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></p></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">UBS Credit Facility (a)</span></td> <td style="border-top: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zGiqdsBXDEkj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">   71,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--UBSCreditFacilityMember_zuaZODZZFQN2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024 Senior Secured Term Loan Facility (b)</span></td> <td></td> <td id="xdx_98E_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacility2024Member_zlwKTCMpTJvc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">   240,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></td> <td id="xdx_98A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredTermLoanFacility2024Member_zis9mQg2aDPl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">288,000</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027 Secured Notes (c)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--SeniorNotes_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zRgkcSmyHn4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">179,375</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--SeniorNotes_iI_pn3n3_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zesVNjfKdQd8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">231,875</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Macquarie loan (d)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieLoanMember_zbgwVJ5PFaXe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1868">—</span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"></td> <td id="xdx_988_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--MacquarieLoanMember_zK9eA5aF8kTh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,500</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">E.SUN, MICB, Cathay, Taishin Credit Facility (e)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zAa3ZULfdLU8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1872">—</span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zp91sbA5Ihq6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,300</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (f)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20251231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_zjr4oMbzUFij" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1876">—</span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20241231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_zDTp5V8Ehr9j" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,111</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total credit facilities</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_982_eus-gaap--LongTermDebt_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zFOFzP7mfrk2" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>490,375</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98C_eus-gaap--LongTermDebt_iI_pn3n3_c20241231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zbbnBxC58qC4" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>603,786</b></span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sale and Leaseback Agreements</b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minsheng Sale and Leaseback Agreements - $178,000 (m)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_zpDB67NTGOP" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">166,788</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--FinanceLeaseLiability_iI_pn3n3_d0_c20241231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_zj0Xp6HxOo14" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,500</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMBFL Sale and Leaseback Agreements - $120,000 (n)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--FinanceLeaseLiability_iI_pn3n3_d0_c20251231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zrsoSzZ6zJl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,546</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20241231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zp9VsDasxfHi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,813</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total Sale and Leaseback Agreements</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20251231_z1iswFlTPNR9" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>204,334</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20241231_zpBqrdqodeyl" style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>87,313</b></span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total borrowings</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--DebtAndCapitalLeaseObligations_iI_pn3n3_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zip6g8DLqiUe" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>694,709</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_985_eus-gaap--DebtAndCapitalLeaseObligations_iI_pn3n3_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zshPK1s6RoQ9" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>691,099</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of long-term debt</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zVTbZQIDq7q" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(128,500)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zar27TYs6Wvd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(136,559)</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Current portion of Sale and Leaseback Agreements (m,n,o,p)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--FinanceLeaseLiabilityCurrent_iNI_pn3n3_di_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zKIvZhSUfB5d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (m,n,o,p)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(19,067)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--FinanceLeaseLiabilityCurrent_iNI_pn3n3_di_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zHpjcdbi0CRi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (m,n,o,p)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8,717)</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less: Deferred financing costs (r)</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_z4on2s2vVvmc" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (r)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,567)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_z6EzEYzgIWI4" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (r)"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7,042)</span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-current portion of Long-Term Debt</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_eus-gaap--LongTermDebtAndCapitalLeaseObligations_iI_pn3n3_d0_c20251231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_z7iHpW7VBC4e" style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> 541,575</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_98D_eus-gaap--LongTermDebtAndCapitalLeaseObligations_iI_pn3n3_d0_c20241231__us-gaap--LongtermDebtTypeAxis__custom--NonCurrentPortionOfLongTermDebtMember_zy4yEUd61O2h" style="border-bottom: Black 2.25pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>538,781</b></span></td></tr> </table> 71000000 0 240000000 288000000 179375000 231875000 23500000 8300000 52111000 490375000 603786000 166788000 44500000 37546000 42813000 204334000 87313000 694709000 691099000 128500000 136559000 19067000 8717000 5567000 7042000 541575000 538781000 2025-03-26 85000000 12 quarterly 7000000 1000000 second quarter of 2028 SOFR 0.0215 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 71000000 300000000 3 third quarter of 2024 third quarter of 2030 12 quarterly 12000000 4 quarterly 10000000 4 quarterly 8000000 4 quarterly 6000000 60000000 SOFR 0.0185 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 240000000 2022-06-16 350000000 0.0569 interpolated interest rate of 2.84% plus a margin of 2.85% per annum for the repayment of certain of the Company’s then-outstanding indebtedness and for general corporate purposes 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 20 3 July 28, 2025, and was delivered to the new owners on October 13, 2025 179375000 2023-05-18 76000000 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 4 second quarter of 2023 May 2026 2 quarterly 5000000 6 quarterly 6000000 1 quarterly 3000000 2 quarterly 1000000 25000000 SOFR 0.0350 18500000 17500000 46818000 5900000 175000 0 December 30, 2021 The Company used a portion of the net proceeds from this credit facility to fully prepay certain of the Company’s then-outstanding indebtedness 3 8 quarterly 4500000 10 quarterly 2400000 SOFR 0.0275 8500000 4 quarterly 2400000 1 quarterly 1100000 October 2025 July 2026 5900000 0 July 6, 2021 140000000 to finance the acquisition of the Twelve Vessels July 2021 July 2026 6 quarterly 8000000 8 quarterly 5400000 6 quarterly 2200000 35600000 2838000 1000000 the vessel was released as collateral SOFR 0.0325 0 August 27, 2021 12000000 partially used to fully refinance certain of the Company’s then-outstanding indebtedness September 2021 September 2026 20 quarterly 420000 3600000 SOFR 0.0325 6960000 0 May 6, 2021 51670000 for which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness 20 quarterly 1162450 28421000 SOFR 0.0325 36558000 0 April 15, 2021 64200000 in order to finance the acquisition of six out of the Seven Vessels 32100000 April 2025 21400000 May 2025 10700000 July 2025 16 quarterly 668750 SOFR 0.0350 12706000 0 April 13, 2021 51700000 for which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness 20 quarterly 1275000 26200000 SOFR 0.0275 35125000 0 February 26, 2020 9000000 to refinance certain of the Company’s then-outstanding indebtedness monthly 156000 monthly 86000 1314000 SOFR 0.0420 1831000 0 September 19, 2019 in order to refinance existing credit facilities that had a maturity date in December 2020, of an outstanding amount of $224,310 2 230000000 20 quarterly 5200000 126000000 38000000 20 quarterly 1000000 18000000 January 2022 to refinance its outstanding Syndicated Senior Secured Credit Facility December 2026 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 0.0300 133200000 0 2 44500000 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 44500000 2 44500000 to finance the acquisition of the two high-reefer ECO 9,019 TEU Vessels 178000000 40 quarterly 862500 10000000 December 2034 January 2035 SOFR 0.025 166788000 August 26, 2021 4 30000000 to finance the acquisition of the Four Vessels (the “CMBFL Sale and Leaseback Agreement”) 90000000 30000000 12 quarterly 1587500 12 quarterly 329200 7000000 September 2027 October 2027 SOFR 0.0325 SOFR 0.0275 37546000 May 20, 2021 54000000 for which the net proceeds were used to refinance certain of the Company’s then-outstanding indebtedness 8 quarterly 2025000 20 quarterly 891000 19980000 May 2028 SOFR 0.0325 54000000 75000000 21000000 33345000 0 May 12, 2021 14735000 to finance the acquisition of GSL Violetta delivered in April 2021 14735000 15 quarterly 793870 4 quarterly 469120 950000 February 2026 SOFR 0.0464 4414000 0 <p id="xdx_892_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zc189KOB1m2h" style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zOxYqzA7VmPa" style="display: none">Long-Term Debt - Repayment Schedule (Table)</span></span></p><table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr><td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 88%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_498_20251231_zCVw09LIzMGl" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Payment due by year ended</b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_iI_pn3n3_maTlongtermdebt_zqrUQ3wIKkIf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2026</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">147,567</span></td></tr> <tr id="xdx_40E_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo_iI_pn3n3_maTlongtermdebt_z0y5MndZLp4b" style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2027</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">246,954</span></td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree_iI_pn3n3_maTlongtermdebt_zmtfgynlgLge" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2028</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">66,800</span></td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour_iI_pn3n3_maTlongtermdebt_zDI2ExTBuHo9" style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2029</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,800</span></td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive_iI_pn3n3_maTlongtermdebt_zxn8iaZGlm3k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2030</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 91,800</span></td></tr> <tr id="xdx_406_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive_iI_pn3n3_maTlongtermdebt_zZ9PGnslE8w5" style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2031 and thereafter</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,788</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_980_eus-gaap--DebtAndCapitalLeaseObligations_iTI_pn3n3_mtTlongtermdebt_c20251231_zz07imJS5nS4" style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>694,709</b></span></td></tr> </table> 147567000 246954000 66800000 43800000 91800000 97788000 694709000 <p id="xdx_89B_ecustom--ScheduleOfDeferredFinancingCostsTableTextBlock_zLGnvgAcwW96" style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zl0h86EQesJ8">Long-Term Debt - Schedule of Deferred Financing Costs (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr><td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49B_20250101__20251231_zBHrl4nl1oG8" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_491_20240101__20241231_zhtUwn8zP2t5" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></p></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></p></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iS_pn3n3_zpBJ7gjYb1f4" style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,042</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,750</span></td></tr> <tr id="xdx_401_ecustom--AdditionalDeferredFinancingCosts_pn3n3_zStNGomTzXLe" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expenditure in the period</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,185</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,120</span></td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pn3n3_zE2ibalp6NQ6" style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization included within interest expense</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,660)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6,828)</span></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iE_pn3n3_z9ZSTeq3CQyi" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Closing balance</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5,567</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>7,042</b></span></td></tr> </table> 7042000 10750000 2185000 3120000 -3660000 -6828000 5567000 7042000 1335000 850000 2625000 495000 1140000 3660000 6828000 5526000 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 As of December 31, 2025, and December 31, 2024, the Company was in compliance with its debt covenants <p id="xdx_802_eus-gaap--RevenueFromContractWithCustomerTextBlock_zcqs2AIaCi7j" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>13. <span><span><span id="xdx_827_z172qGrOa7zg">Time charter revenue</span></span></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating revenue from significant customers (constituting more than 10% of total time charter revenue) was as follows:</span></p> <p id="xdx_89B_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zjV6XSEIQDZ7" style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_8BE_z9d70nLeVLJ1">Time charter revenue - Operating revenue (Table)</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Ended December 31,</b></span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 68%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Charterer</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MAERSK</span></td> <td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--MAERSKMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zcDgwQoyFqb6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30.26%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--MAERSKMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_z11O7q0btwQ1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.63%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--MAERSKMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zwFh98buANi3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30.82%</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HAPAG LLOYD</span></td> <td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--HAPAGLLOYDMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zRrAhBezawf5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.01%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--HAPAGLLOYDMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zWKzAcVr6tIf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.59%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--HAPAGLLOYDMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zVdBknn1HyC7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.64%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM</span></td> <td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--CMACGMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zsN9G1BxzEvf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.14%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CMACGMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zFgCwRrmXoU3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.23%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CMACGMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zFP7qARFV7Vf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28.59%</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MSC</span></td> <td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--MSCMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zIA5yagCE7u" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.25%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--MSCMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zJq7ZZrVvlh2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.27%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--MSCMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zYBHHGbST5T5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.12%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ZIM</span></td> <td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--ZIMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zxk1RGHKkVUl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.76%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--ZIMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zFQDm3oJ05m1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.77%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--ZIMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zWpMUs7nS9H6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.49%</span></td></tr> </table> <p id="xdx_8A9_zVSpnyjyyXDe" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p id="xdx_89B_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zjV6XSEIQDZ7" style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span><span id="xdx_8BE_z9d70nLeVLJ1">Time charter revenue - Operating revenue (Table)</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year Ended December 31,</b></span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 68%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Charterer</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2024</b></span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2023</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MAERSK</span></td> <td id="xdx_981_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--MAERSKMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zcDgwQoyFqb6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30.26%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--MAERSKMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_z11O7q0btwQ1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.63%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--MAERSKMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zwFh98buANi3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">30.82%</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">HAPAG LLOYD</span></td> <td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--HAPAGLLOYDMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zRrAhBezawf5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.01%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--HAPAGLLOYDMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zWKzAcVr6tIf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.59%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--HAPAGLLOYDMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zVdBknn1HyC7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.64%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">CMA CGM</span></td> <td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--CMACGMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zsN9G1BxzEvf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.14%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CMACGMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zFgCwRrmXoU3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.23%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CMACGMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zFP7qARFV7Vf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">28.59%</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">MSC</span></td> <td id="xdx_989_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--MSCMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zIA5yagCE7u" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.25%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--MSCMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zJq7ZZrVvlh2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.27%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--MSCMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zYBHHGbST5T5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.12%</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ZIM</span></td> <td id="xdx_986_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__srt--MajorCustomersAxis__custom--ZIMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zxk1RGHKkVUl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.76%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--ZIMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zFQDm3oJ05m1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.77%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--ZIMMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenuesMember_zWpMUs7nS9H6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.49%</span></td></tr> </table> 0.3026 0.3363 0.3082 0.2101 0.0759 0.0264 0.1814 0.2223 0.2859 0.1125 0.0927 0.0712 0.0876 0.1177 0.1349 <p id="xdx_807_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zDkH0NyIEOyf" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. <span id="xdx_82A_zdc681JYbFv6">Related Party Transactions</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Ship Management Agreements</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technomar Shipping Inc. (“Technomar”) is presented as a related party, as the Company’s Executive Chairman is a significant shareholder. The Company has currently a number of ship management agreements with Technomar under which the ship manager is responsible for all day-to-day ship management, including crewing, purchasing stores, lubricating oils and spare parts, paying wages, pensions and insurance for the crew, and organizing other ship operating necessities, including monitoring and reporting with respect to European Union Emission Trading System (“EU ETS”) compliance, EU Allowances (“EUAs”), Fuel EU Maritime (“FEUM”) compliance, and the arrangement and management of dry-docking.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During 2022, Technomar provided all day-to-day technical ship management services for all but five (excluding GSL Amstel which was sold in March 23, 2023) of the Twelve Vessels. Management agreements of another third-party ship manager of these <span id="xdx_904_ecustom--NumberOfVesselsUnderTechnicalManagement_dc_uPure_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zEifeuImsQef">five</span> vessels were terminated between May and July 2023. From those dates and onwards Technomar manages the five vessels. The management fees charged to the Company by third party managers for the years ended December 31, 2025, 2024 and 2023 amounted to $nil, $nil and $<span id="xdx_90B_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyManagersMember_zEUy6fY842p9">981</span>, respectively, and are shown in “Vessel operating expenses” in the Consolidated Statements of Income. Technomar continued to supervise management for the five outsourced vessels up to the termination of the underlying management agreements between May and July 2023. <span id="xdx_90D_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyManagersMember_zk79V8s2fMxj" style="display: none">0</span> <span id="xdx_907_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyManagersMember_z89m8tS4SWNb" style="display: none">0</span></span></p> <p style="font: 9pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>14. Related Party Transactions (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Ship Management Agreements </span>(continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The management fees charged to the Company by Technomar for the years ended December 31, 2025, 2024 and 2023, amounted to $<span id="xdx_90B_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zMCsNmoumqNb" title="Management fees">23,817</span>, $<span id="xdx_90E_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zITlntZAyJo2" title="Management fees">21,804</span> and $<span id="xdx_90A_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zBP0F2qdGFXd" title="Management fees">19,086</span>, respectively and are shown under “Vessels operating expenses-related parties” in the Consolidated Statements of Income. Additionally, as of December 31, 2025, and 2024, outstanding receivables due from Technomar totaling $<span id="xdx_908_eus-gaap--OtherReceivablesNetCurrent_iI_pn3n3_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zr9CYH6t6MC8">148</span> and $<span id="xdx_903_eus-gaap--OtherReceivablesNetCurrent_iI_pn3n3_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zWLeReEAum56">342</span>, respectively, are presented under “Due from related parties”.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conchart Commercial Inc. (“Conchart”) provides commercial management services to the Company pursuant to commercial management agreements. The Company’s Executive Chairman is the sole beneficial owner of Conchart. Under the management agreements, Conchart is responsible for (i) marketing of the Company’s vessels, (ii) seeking and negotiating employment of the Company’s vessels, (iii) advise the Company on market developments and developments of new rules and regulations, (iv) assisting in calculation of hires, freights, demurrage and/or dispatch monies and collection any sums related to the operation of vessels, (v) communicating with agents, and (vi) negotiating sale and purchase transactions.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fees charged to the Company by Conchart for the years ended December 31, 2025, 2024 and 2023, amounted to $<span id="xdx_904_eus-gaap--DirectOperatingCosts_pn3n3_c20250101__20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zTnGx1cFSko9" title="Time charter and voyage expenses-related parties">8,689</span>, $<span id="xdx_90B_eus-gaap--DirectOperatingCosts_pn3n3_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zwVsG4KDwAYh" title="Time charter and voyage expenses-related parties">8,610</span> and $<span id="xdx_90D_eus-gaap--DirectOperatingCosts_pn3n3_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zhpJpdXHN6Ef" title="Time charter and voyage expenses-related parties">7,995</span>, respectively, and are disclosed within “Time charter and voyage expenses-related parties” in the Consolidated Statements of Income. Any outstanding fees due to Conchart are presented in the Consolidated Balance Sheets under "Due to related parties" totaling to $<span id="xdx_908_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zLry4Qeu334c">692</span> and $<span id="xdx_901_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zWwtm6SStHD9">723</span> as of December 31, 2025, and 2024, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company as per commercial management agreements has agreed to pay the commercial manager providing for the sale of all vessels and purchase of some vessels, a commission of <span id="xdx_90E_ecustom--BrokerFeeCommissionPercentage_dp_uPure_c20250101__20251231_z5XXFozqsn54">1.00</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% based on the sale or purchase price for any sale or purchase of a vessel, which shall be payable upon request of the commercial manager. The amount of $<span id="xdx_906_ecustom--BrokerFeeCommission_pn3n3_uUSD_c20250101__20251231_zLCfbKZSpedg">9,776</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, reflects commission payable to the commercial manager based on the purchase price of already acquired vessels that has been deferred and will be paid upon request of the commercial manager, is presented in the Consolidated Balance Sheets under "Accrued Liabilities", see note 11.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 5 981000 0 0 23817000 21804000 19086000 148000 342000 8689000 8610000 7995000 692000 723000 0.0100 9776000 <p id="xdx_804_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zngvaJs0HNf6" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>15. <span id="xdx_82D_z0f9a9Y8n7j3">Commitments and Contingencies</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Charter Hire Receivable </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has entered time charters for its vessels. The charter hire is fixed for the duration of the charter. The minimum contracted future charter hire receivable, net of address commissions, not allowing for any unscheduled off-hire, assuming expiry at earliest possible dates and assuming options callable by the Company included in the charters are not exercised, for the <span id="xdx_906_ecustom--NumberOfVesselsOwned_uPure_c20250101__20251231_zGqavlPnFnb8">70</span> vessels as at December 31, 2025 is as follows:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_ecustom--ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock1_z6Rg0Ir76AZa" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zW4mmDJMGK7a">Commitments and Contingencies - Charter Hire Receivable (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 89%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_490_20251231_zrXDT7jvBG5l" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_matminimumlease_zRdoI2qhx1Kf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2026</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">738,217</span></td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_matminimumlease_zSqKi7Faprxc" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2027</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">640,757</span></td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_matminimumlease_zvXxOdH6aXY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2028</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">358,765</span></td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_matminimumlease_z2NUVuvX4z0b" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2029</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 177,745</span></td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_matminimumlease_z7Wlmdj4j031" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2030 and thereafter</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">131,342</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total minimum lease revenue, net of address commissions </b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pn3n3_mttminimumlease_c20251231_zdg7GEgw1jE" style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2,046,826</b></span></td></tr> </table> <p id="xdx_8A8_zqW1sTgMSDUh" style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"></p> 70 <p id="xdx_89A_ecustom--ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock1_z6Rg0Ir76AZa" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_zW4mmDJMGK7a">Commitments and Contingencies - Charter Hire Receivable (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 89%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_490_20251231_zrXDT7jvBG5l" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_matminimumlease_zRdoI2qhx1Kf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2026</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">738,217</span></td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_matminimumlease_zSqKi7Faprxc" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2027</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">640,757</span></td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_matminimumlease_zvXxOdH6aXY3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2028</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">358,765</span></td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_matminimumlease_z2NUVuvX4z0b" style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2029</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 177,745</span></td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_matminimumlease_z7Wlmdj4j031" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31, 2030 and thereafter</span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">131,342</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total minimum lease revenue, net of address commissions </b></span></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pn3n3_mttminimumlease_c20251231_zdg7GEgw1jE" style="border-top: Black 0.5pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2,046,826</b></span></td></tr> </table> 738217000 640757000 358765000 177745000 131342000 2046826000 <p id="xdx_809_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zh1V1Fv9lRwh" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16. <span id="xdx_82E_z0xD4WkFgdYk">Share Capital</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common shares</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, the Company had <span id="xdx_90B_ecustom--NumberOfClassesOfCommonStock_iI_dc_uPure_c20251231_z1UQNhJXFzPi" title="Classes of common shares">one</span> class of common shares outstanding: the Class A common shares.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>2019 Omnibus Incentive Plan</i></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective February 4, 2019, the Company adopted the 2019 Omnibus Incentive Plan, which was thereafter amended and restated on September 29, 2021 and September 25, 2025 (the “Equity Incentive Plan”), pursuant to which directors, officers and employees, among others, of the Company and its subsidiaries are eligible to receive awards in the form of non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, cash awards, unrestricted stock and other equity-based or equity-related awards (see note 17). In April 2020, <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20200101__20200430__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_zYdPMi2L1iMl">184,270</span> shares were issued under grants made pursuant to the Equity Incentive Plan. In 2025, 2024, 2023, 2022 and 2021, <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_zElg8NfLphqd">466,258</span>, <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_z1y0RkOKZWmg">483,713</span>, <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20230101__20231231__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_zh50jZN3JBCb">440,698</span>, <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_z0ASomlhfif2">586,819</span> and <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_zA7lkHUbYa8d">747,604</span> Class A common shares were issued under the Equity Incentive Plan, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common Share Repurchase Program</i></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2023, the Board of Directors authorized the repurchase of up to $<span><span id="xdx_900_eus-gaap--StockRepurchasedAndRetiredDuringPeriodValue_pip0_uUSD_c20230101__20230731__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--RangeAxis__srt--MaximumMember_zUgk0yAKltY6">40,000</span></span> of the Company’s Class A common shares. During 2025, the Company did not repurchase any Class A common shares. During 2024 and 2023, the Company repurchased <span id="xdx_902_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pip0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zioNcxMRUdLf">251,772</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_90B_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pip0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zoEZz0j7jDkl">1,242,663</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares, reducing the issued and outstanding shares. As at December 31, 2025, the Company had <span id="xdx_90F_eus-gaap--SharesOutstanding_iI_pip0_uShares_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrTCNDUJ4tOj">35,913,628</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares outstanding.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividends</i></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 10, 2024, the Company announced a dividend of $<span id="xdx_901_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20240510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q1DividendsMember_zYI6l02JHOT">0.375</span> per Class A common share from the earnings of the first quarter of 2024 paid on <span id="xdx_90F_ecustom--DividendPayableDateToBePaidDayMonthAndYear1_dd_c20240101__20240510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q1DividendsMember_zrSjDgIEHTYc">June 3, 2024</span>, to common shareholders of record as of <span id="xdx_90E_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20240101__20240510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q1DividendsMember_zTX99TiozSfc">May 24, 2024</span>, amounting to $<span id="xdx_902_ecustom--Dividends1_pid_c20240101__20240510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q1DividendsMember_zOsjd0w2uZNj">13,255</span>. On August 5, and November 11, 2024, the Company announced a dividend of $<span id="xdx_903_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20240805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q2DividendsMember_z5zjc4ONED8l"><span id="xdx_905_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20241111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q3DividendsMember_zJwY03VybD66">0.45</span></span> per Class A common share from the earnings of the second and third quarter of 2024, respectively, each paid on <span id="xdx_906_ecustom--DividendPayableDateToBePaidDayMonthAndYear1_dd_c20240101__20240805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q2DividendsMember_z1oWbQHldHfl">September 4, 2024</span>, and <span id="xdx_905_ecustom--DividendPayableDateToBePaidDayMonthAndYear1_dd_c20240101__20241111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q3DividendsMember_zpuqNnX0TuNc">December 4, 2024</span>, to common shareholders of record as of August 23, <span id="xdx_906_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20240101__20240805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q2DividendsMember_zYqxueSjqD03" style="display: none">August 23, 2024</span> and <span id="xdx_907_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20240101__20241111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q3DividendsMember_zPlksjYYmtYf">November 22, 2024</span>, respectively, each amounting to $<span id="xdx_90F_ecustom--Dividends1_pid_c20240101__20240805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q2DividendsMember_zmMdqEuhXZH8">15,965</span> and $<span id="xdx_904_ecustom--Dividends1_pid_c20240101__20241111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2024Q3DividendsMember_zmf1VOKKS3Ad">16,004</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 12, 2025, the Company announced a dividend of $<span id="xdx_90C_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20250212__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q1DividendsMember_zvLbIgv9KyDb">0.45</span> per Class A common share from the earnings of the fourth quarter of 2024, paid on <span id="xdx_902_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20250101__20250212__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q1DividendsMember_zdl8jkiSIm3k">March 6, 2025</span>, to Class A common shareholders of record as of <span id="xdx_90B_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20250101__20250212__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q1DividendsMember_z2T8bnptLE1k">February 24, 2025</span>, amounting to $<span id="xdx_90A_eus-gaap--Dividends_pid_c20250101__20250212__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q1DividendsMember_z68Pd9Comve7">16,043</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 12, 2025, the Company announced a dividend of $<span id="xdx_90F_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20250512__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q2DividendsMember_zTuAgolFoTm7">0.525</span> per Class A common share from the earnings of the first quarter of 2025, paid on <span id="xdx_908_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20250101__20250512__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q2DividendsMember_z7ea7zsOf3Ud">June 3, 2025</span>, to Class A common shareholders of record as of <span id="xdx_907_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20250101__20250512__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q2DividendsMember_zzyTphnjcbu9">May 23, 2025</span>, amounting to $<span id="xdx_90C_eus-gaap--Dividends_pid_c20250101__20250512__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q2DividendsMember_z6qXzqzFQMb6">18,763</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 5, 2025, the Company announced a dividend of $<span id="xdx_90C_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20250805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q3DividendsMember_zN11SUJxnqsh">0.525</span> per Class A common share from the earnings of the second quarter of 2025, paid on <span id="xdx_908_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20250101__20250805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q3DividendsMember_zM5UCR7ROVSi">September 4, 2025</span>, to Class A common shareholders of record as of <span id="xdx_908_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20250101__20250805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q3DividendsMember_zeXKo0cYTstk">August 22, 2025</span>, amounting to $<span id="xdx_90B_eus-gaap--Dividends_pid_c20250101__20250805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q3DividendsMember_ziVCQ3Mx9SA">18,809</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 10, 2025, the Company announced an increase of $<span id="xdx_906_ecustom--CommonStockDividendPerShareIncrease_iI_uUSDPShares_c20251110__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q4DividendsMember_zokmiJI3Dxe6">0.10</span> per Class A common share in the quarterly supplemental dividend for a total quarterly dividend of $<span id="xdx_908_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20251110__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q4DividendsMember_zwhL4QXPQTCd">0.625</span> per Class A common share, commencing with the dividend payable in December 2025. Dividend announced paid on <span id="xdx_909_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20250101__20251110__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q4DividendsMember_zshLB5KqpxPe">December 4, 2025</span>, to Class A common shareholders of record as of <span id="xdx_902_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20250101__20251110__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q4DividendsMember_zQHdMOiQk8Kd">November 21, 2025</span>, amounting to $<span id="xdx_907_eus-gaap--Dividends_pid_c20250101__20251110__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DividendsAxis__custom--O2025Q4DividendsMember_zsLlkMxtq4cf">22,446</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>16. Share Capital</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common shares (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common Share ATM Program</i></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 16, 2024, the Company entered into an equity distribution agreement with Evercore Group L.L.C. under which the Company could offer and sell its Class A common shares having an aggregate offering price of up to $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240101__20240816__us-gaap--AwardTypeAxis__us-gaap--CommonClassAMember__srt--RangeAxis__srt--MaximumMember_zRpGu7wVbZFj">100,000</span> (the “Prior Common Share ATM Program”). As of December 31, 2024, the Company issued <span id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_iI_uShares_c20240816__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZDqf3VdN3K2">27,106</span> Class A common shares under the Prior Common Share ATM Program at an average price of $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20240816__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zZHogCHbsKyl">27.02</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 23, 2025, the Company renewed its “at the market” offering program for its Class A common shares, and in connection therewith, entered into an equity distribution agreement with Evercore Group L.L.C. and Jefferies LLC, pursuant to which the Company may, from time to time, offer and sell up to $<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250101__20250923__us-gaap--AwardTypeAxis__custom--ATMAgreement2025Member__srt--RangeAxis__srt--MaximumMember_z2kckeUHqoob">100,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of its Class A common shares, par value $<span id="xdx_90D_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pip0_c20250923__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zv9r3VXDB7bf">0.01</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per share, in aggregate (the “Common Share ATM Program”). The Common Share ATM Program renewed and replaced the Prior Common Share ATM Program, on similar terms, which expired on September 16, 2025. At the time of such expiration, remaining capacity under the Prior Common Share ATM Program was approximately $<span id="xdx_90D_eus-gaap--CommonStockSharesOutstanding_iI_c20250916__us-gaap--AwardTypeAxis__us-gaap--CommonClassAMember__srt--RangeAxis__srt--MaximumMember_zX2b1uESLb2l">99,277</span> (out of the original $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240101__20240816__us-gaap--AwardTypeAxis__us-gaap--CommonClassAMember__srt--RangeAxis__srt--MaximumMember_zj7lIPsfXmDe">100,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Preferred shares</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_ecustom--PreferredStockIssueDescription_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zOuRgfQWjXhd" title="Preferred shares issuance term description">On August 20, 2014, the Company issued 1,400,000 Depositary Shares (the "Depositary Shares"), each of which represents 1/100th of one share of the Company's 8.75% Series B Cumulative Perpetual Preferred Shares ("Series B Preferred Shares") representing an interest in 14,000 Series B Preferred Shares, par value $0.01 per share, with a liquidation preference of $2,500.00 per share (equivalent to $25.00 per Depositary Share) (NYSE:GSL-B), priced at $<span id="xdx_902_ecustom--PreferredStockRedemptionPricePerDepositoryShare_pid_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z2CeVh6adQ7">25.00</span> per Depositary Share</span>. The net proceeds from the offering were $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfRedeemablePreferredStock_pid_c20140101__20140820__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zmglaNdZTc4b">33,497</span>. Dividends are payable at <span id="xdx_906_eus-gaap--PreferredStockDividendRatePercentage_dp_uPure_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zW4RlG3B7tJe">8.75</span>% per annum in arrears on a quarterly basis. <span id="xdx_908_eus-gaap--PreferredStockRedemptionTerms_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_ztAAgLTepEKg">At any time after August 20, 2019 (or within 180 days after the occurrence of a fundamental change), the Series B Preferred Shares may be redeemed, at the discretion of the Company, in whole or in part, at a redemption price of $<span id="xdx_904_eus-gaap--PreferredStockRedemptionPricePerShare_iI_pn3n3_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zrOINtM5zew9">2,500.00</span> per share (equivalent to $25.00 per depositary share)</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These shares are classified as Equity in the Consolidated Balance Sheets. The dividends payable on the Series B Preferred Shares are presented as a reduction of Retained Earnings in the Consolidated Statements of Changes in Shareholders’ Equity, when and if declared by the Board of Directors. An initial dividend was declared on September 22, 2014, for the third quarter 2014. Dividends have been declared for all subsequent quarters.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 23, 2025, the Company renewed its “at the market” offering program for its Depositary Shares, and in connection therewith, entered into an At Market Issuance Sales Agreement with B. Riley Securities, Inc. and Evercore Group L.L.C., pursuant to which the Company may, from time to time, offer and sell up to $<span id="xdx_90B_ecustom--PreferredStockIssuedDuringPeriodValueNewIssues_c20250101__20250923__us-gaap--AwardTypeAxis__custom--ATMPreferredSharesAgreement2025Member__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zUI33qaFGFUb" title="Issuance of Series B Preferred shares, net of offering costs (Note 17)">150,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of its Depositary Shares, in aggregate (the “Preferred Share ATM Program”). The Preferred Share ATM Program renews and replaces the Company’s prior “at the market” offering program that was in place with B. Riley Securities, Inc., on similar terms, which expired on September 16, 2025 (the “Prior Preferred Share ATM Program”). No sales were made under the Prior Preferred Share ATM Program, and no sales have been made under the Preferred Share ATM Program.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2025, there were <span id="xdx_90F_ecustom--DepositarySharesOutstanding_iI_pip0_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zQSB2HhLmgub">4,359,190</span> Depositary Shares outstanding, representing an interest in <span id="xdx_90F_eus-gaap--PreferredStockSharesOutstanding_iI_pip0_c20251231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z72yxCO2aYkg">43,592</span> Series B Preferred Shares.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"></p> 1 184270 466258 483713 440698 586819 747604 40000 251772 1242663 35913628 0.375 June 3, 2024 2024-05-24 13255 0.45 0.45 September 4, 2024 December 4, 2024 2024-08-23 2024-11-22 15965 16004 0.45 2025-03-06 2025-02-24 16043 0.525 2025-06-03 2025-05-23 18763 0.525 2025-09-04 2025-08-22 18809 0.10 0.625 2025-12-04 2025-11-21 22446 100000 27106 27.02 100000 0.01 99277 100000 On August 20, 2014, the Company issued 1,400,000 Depositary Shares (the "Depositary Shares"), each of which represents 1/100th of one share of the Company's 8.75% Series B Cumulative Perpetual Preferred Shares ("Series B Preferred Shares") representing an interest in 14,000 Series B Preferred Shares, par value $0.01 per share, with a liquidation preference of $2,500.00 per share (equivalent to $25.00 per Depositary Share) (NYSE:GSL-B), priced at $25.00 per Depositary Share 25.00 33497 0.0875 At any time after August 20, 2019 (or within 180 days after the occurrence of a fundamental change), the Series B Preferred Shares may be redeemed, at the discretion of the Company, in whole or in part, at a redemption price of $2,500.00 per share (equivalent to $25.00 per depositary share) 2500000.00 150000 4359190 43592 <p id="xdx_80C_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zebBExcNGbFh" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. <span id="xdx_822_zUYkv6jKeha4">Stock-Based Compensation</span></b></span></p> <p style="font: 9pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 4, 2019, the Board of Directors adopted the Equity Incentive Plan.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The purpose of the Equity Incentive Plan is to provide directors, officers and employees, whose initiative and efforts are deemed to be important to the successful conduct of our business, with incentives to (a) enter into and remain in the service of the Company or its subsidiaries and affiliates, (b) acquire a proprietary interest in the success of the Company, (c) maximize their performance and (d) enhance the long-term performance of the Company. The Equity Incentive Plan is administered by the Compensation Committee of the Board of Directors, or such other committee of the Board of Directors as may be designated by them. Unless terminated earlier by the Board of Directors, the Equity Incentive Plan expires 10 years from the date on which it was adopted.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 29, 2021, the Board of Directors approved an increase in the aggregate number of Class A common shares available for issuance as awards under the Equity Incentive Plan by <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__srt--RangeAxis__srt--MinimumMember_zuWGVIUytjfj">1,600,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__srt--RangeAxis__srt--MaximumMember_zmQLZQoQD8uc">3,412,500</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, and approved an increase to the maximum number of Class A common shares that each non-executive director may be granted in any one year to <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__srt--RangeAxis__srt--MaximumMember_zphi9IoedDGg">25,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. In addition, with effect from October 1, 2021, the Board of Directors approved awards under the Equity Incentive Plan of (a) up to an aggregate of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--MembersOfSeniorManagementMember_zD8O69QVsW56">1,500,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares to members of senior management and (b) up to an aggregate of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__custom--NonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvIavzmdY3O">105,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares to the Company’s non-executive directors (representing an award of up to <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__custom--EachNonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUAkxg7hfv89">15,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares to each such director) (collectively, the “Initial 2021 Incentive Awards”). The Initial 2021 Incentive Awards were subject to the satisfaction of certain service-based and performance-based vesting criteria.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Board of Directors approved an award of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--OneNewDirectorMember_z1WHTVcAbSVi">13,780</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to a non-executive director who was appointed subsequent to the Initial 2021 Incentive Awards, to vest in a similar manner to the Initial 2021 Incentive Awards, adjusted for the date of appointment of the director. During the year ended December 31, 2024, the Board of Directors approved an award to a non-executive director who was appointed subsequent to the Initial 2021 Incentive Awards, amounting to <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20240101__20240102__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--TitleOfIndividualAxis__custom--NonEmployeeDirectorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUBOmocmm9Ac">4,884</span> Class A common shares which vested and were issued immediately, and <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20240102__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--TitleOfIndividualAxis__custom--NonEmployeeDirectorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zoF4LHYIaIml">8,311</span> Class A common shares, which were scheduled to vest in a similar manner to the Initial 2021 Incentive Awards, adjusted for the date of appointment of the director. These awards together with the Initial 2021 Incentive Awards are collectively referred to as the “2021 Incentive Awards.”</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2024, as a result of the transition of the Company’s Chief Executive Officer (“CEO”), the Board of Directors approved new awards of (i) <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20240331__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--TitleOfIndividualAxis__custom--NonEmployeeDirectorMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxiOGviCtkce">6,465</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares to a newly appointed non-executive director and (ii) <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20240331__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--TitleOfIndividualAxis__custom--CEOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zV33b4N3nyVj">51,750</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares, to the newly appointed CEO, in each case, scheduled to vest in a similar manner to the 2021 Incentive Awards, adjusted for the dates of appointment. Further, <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_pip0_c20240101__20240331__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--TitleOfIndividualAxis__custom--CEOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKnU4KEqdLB1">155,250</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">unvested Class A common shares were forfeited during the first quarter of 2024, due to retirement of the former CEO.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2025, 2024, 2023, 2022 and 2021, <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20250101__20251231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zCuSccSPcele">261,461</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20240101__20241231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z95LTOBbtRdg">535,912</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20230101__20231231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhepiTWgH0l7">399,727</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20220101__20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zMmHPj2OSUEa">218,366</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20210101__20211231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zis2WVSJj5ch">55,175</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares vested, respectively, pursuant to the 2021 Incentive Awards. An aggregate of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_pip0_c20251231_zcDhgSFNVDt2">1,470,641</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares under the 2021 Incentive Awards vested and were issued by December 31, 2025. Of the total Class A common shares which vested under the 2021 Incentive Awards up to December 31, 2025, and December 31, 2024, nil and <span id="xdx_90E_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pip0_c20241231_zCX9iR08zZfk">204,797</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively, had not been issued. <span id="xdx_90D_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pip0_c20251231_zv24T5lD8Pek" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>17. Stock-Based Compensation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective September 25, 2025, the Board of Directors approved an increase in the aggregate number of Class A common shares available for issuance as awards under the Equity Incentive Plan by <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__srt--RangeAxis__srt--MinimumMember_zyJi55m8udmk">2,430,000</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares. Effective October 1, 2025, the Board of Directors approved new awards of Class A common shares, with each such award having a term of <span><span id="xdx_904_ecustom--AwardsExpirationTerm_c20251001__20281231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqYQuQYYry95">3.25</span></span> years (ending December 31, 2028) (the “Term”) (such awards, the “2025 Incentive Awards”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2025 Incentive Awards are divided into <span id="xdx_903_ecustom--NumberOfTranches_dc_uPure_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zEDX09E2vPQ7">three</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">tranches: (i) a service tranche, which vests quarterly, pro rata, during the Term, conditioned only on the recipient’s continued service (“Service Tranche”), (ii) a performance tranche, of which approximately 1/3 is earned upon the Company’s achievement of a specified annualized return on equity that is measured on each of December 31 of 2026, 2027 and 2028, respectively, after which, such shares are notionally divided into a number of quarterly installments within the Term and are eligible to vest on this basis (“Performance Tranche”), and (iii) a moonshot tranche, which is measured and will vest at the end of the Term based on the achievement of a specified return on equity over the full Term (“Moonshot Tranche”). The Performance Tranche payout thresholds are (a) below 13% return on equity: no payout, (b) 13%-15% return on equity: 50% payout, (c) 15% return on equity: 100% payout (target), and (d) Moonshot 30% return on equity: 100% payout.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Of the 2025 Incentive Awards, (a) members of senior management were awarded an aggregate of up to <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--MembersOfSeniorManagementMember_zYpl4driEWRf">2,195,250</span> Class A common shares (comprising a Service Tranche of <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--StatementScenarioAxis__custom--ServiceTrancheMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--MembersOfSeniorManagementMember_zrn1ol8PPMoh">731,750</span> shares, a Performance Tranche of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--StatementScenarioAxis__custom--PerformanceTrancheMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--MembersOfSeniorManagementMember_zwckEslOfbAb">731,750</span> shares, and a Moonshot Tranche of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--StatementScenarioAxis__custom--MoonshotTrancheMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--MembersOfSeniorManagementMember_zksWS8wjWIkj">731,750</span> shares), (b) each non-executive director of the Company was awarded up to <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--TitleOfIndividualAxis__custom--NonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zJgSQUqWcfwe">22,500</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares (comprising a Service Tranche of <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--TitleOfIndividualAxis__custom--NonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--StatementScenarioAxis__custom--ServiceTrancheMember_zRztqCh08gW">7,500</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares, a Performance Tranche of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--TitleOfIndividualAxis__custom--NonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--StatementScenarioAxis__custom--PerformanceTrancheMember_zwOgFYBT91A3">7,500</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares, and a Moonshot Tranche of <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--TitleOfIndividualAxis__custom--NonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__srt--StatementScenarioAxis__custom--MoonshotTrancheMember_zqPCieVnWrBj">7,500</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares), and (c) other new awards were made in an aggregate amount of up to <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember_zxdNsT59xZlg">54,750</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A common shares (comprising a Service Tranche of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--StatementScenarioAxis__custom--ServiceTrancheMember_zSMgOXJH25Z9">18,250</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares, a Performance Tranche of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--StatementScenarioAxis__custom--PerformanceTrancheMember_zdHVVh0Ri9S">18,250</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares, and a Moonshot Tranche of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20251231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyFiveIncentivePlanMember__srt--StatementScenarioAxis__custom--MoonshotTrancheMember_zk8W7QomqcU2">18,250</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2025, a total of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20250101__20251231__us-gaap--StatementEquityComponentsAxis__custom--CommonClassA2025IncenctivePlanMember_znZjDndPkIPb">60,903</span> Class A common shares vested under the 2025 Incentive Awards and nil shares had been issued. <span id="xdx_901_eus-gaap--CommonStockSharesIssued_iI_pip0_uShares_c20251231__us-gaap--StatementEquityComponentsAxis__custom--CommonClassA2025IncenctivePlanMember_zeXUF6DkXlpd" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based awards since January 1, 2024, are summarized as follows:</span></p> <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zW5zC7DiZQjk" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zAgvqCpcaqQ9">Share-Based Compensation (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: white"><td style="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock-Based Awards</b></span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of Shares</span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted Average</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair Value</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">on Grant Date</span></p></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual Fair</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value on</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vesting Date</span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 65%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unvested as at January 1, 2024</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zN15ow83P43l" style="border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>881,213</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zVKpPZLDlltb" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>22.35</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n/a </b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vested in year ended December 31, 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zcnxYf8bXkU5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested , Number of Units">(535,912)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z5eOWTW80xd6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested, Actual Fair Value on Vesting Date">26.11</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted in January 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zEYbs7bMzld9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in January 2024, Number of Units">13,195</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zd4loezLcRtb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in January 2024, Weighted Average Fair Value on Grant Date">18.82</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted in March 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">    <span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod1_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zxVNbqvOJUGi" title="Granted in March 2024, Number of Units">58,215</span></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue1_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zprbOkOujCcg" title="Granted in March 2024, Weighted Average Fair Value on Grant Date">17.80</span></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeit in March 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pip0_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zMDelsFuizKe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Forfeit, Number of units">(155,250)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> n/a</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unvested as at December 31, 2024</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zdOCXiOT030j" style="border-top: Black 0.5pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>261,461</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zMvqyBJcLmXe" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21.92</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n/a </b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted in September 2025</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z8gMejI0Ctn8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in September 2025, Number of Units">2,375,250</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z18VhhJI2Yzj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in September 2025, Weighted Average Fair Value on Grant Date">25.55</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vested in period ended December 31, 2025</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z4FhHO9Qlrb1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested , Number of Units">(322,364)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zubXizVddKng" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested, Actual Fair Value on Vesting Date">28.23</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unvested as at December 31, 2025</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zdYIiU6JSTWc" style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2,314,347</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zzU9dZRbq6Bk" style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date,closing balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>25.55</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n/a </b></span></td></tr> </table> <p id="xdx_8AE_zfR7s7sXkbEc" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Using the graded vesting method of expensing the incentive stock awards, the weighted average fair value of the stock awards is recognized as compensation costs in the Consolidated Statements of Income over the vesting period. The fair value of the incentive stock awards for time-vesting and performance-based awards is calculated by multiplying the number of stock awards by the fair value of the shares at the closing market price of a share of our common stock on the date of the grant, modified as appropriate to take into account the features of such grants. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants.</span></p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <b>17. Stock-Based Compensation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s performance-based compensation expenses are calculated based on the valuation at the grant date, and recognized based on the probability of achieving those targets. The Company assesses the probability of the performance targets being achieved at each balance sheet date, and expenses are recognized accordingly.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2025, 2024 and 2023, the Company recognized a total of $<span id="xdx_909_eus-gaap--ShareBasedCompensation_pn3n3_c20250101__20251231_zCtXCbA3VWz5">13,964</span>, $<span id="xdx_905_eus-gaap--ShareBasedCompensation_pn3n3_c20240101__20241231_zB00q22ahXPk">8,704</span> (includes $<span id="xdx_903_eus-gaap--ShareBasedCompensation_pn3n3_c20240101__20241231__us-gaap--PlanNameAxis__custom--AmendmentStockBasedAwardsMember_zXvqdBxjgQmj">345</span> positive net effect from the amendment to the stock-based awards consequent on the CEO transition), and $<span id="xdx_904_eus-gaap--ShareBasedCompensation_pn3n3_c20230101__20231231_zoDPRTqlo1Z1">10,189</span> (includes $<span id="xdx_902_eus-gaap--ShareBasedCompensation_pn3n3_c20230101__20231231__us-gaap--PlanNameAxis__custom--AmendmentStockBasedAwardsMember_zvNo0Irn5JOf">451</span> effect from the amendment to the stock-based awards), respectively, in respect of stock-based compensation.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1600000 3412500 25000 1500000 105000 15000 13780 4884 8311 6465 51750 155250 261461 535912 399727 218366 55175 1470641 204797 0 2430000 3.25 3 2195250 22500 7500 7500 7500 54750 18250 18250 18250 60903 0 <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zW5zC7DiZQjk" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BA_zAgvqCpcaqQ9">Share-Based Compensation (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: white"><td style="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Stock-Based Awards</b></span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of Shares</span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted Average</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair Value</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">on Grant Date</span></p></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual Fair</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value on</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vesting Date</span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 65%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unvested as at January 1, 2024</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zN15ow83P43l" style="border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>881,213</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zVKpPZLDlltb" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>22.35</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n/a </b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vested in year ended December 31, 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zcnxYf8bXkU5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested , Number of Units">(535,912)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z5eOWTW80xd6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested, Actual Fair Value on Vesting Date">26.11</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted in January 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zEYbs7bMzld9" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in January 2024, Number of Units">13,195</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zd4loezLcRtb" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in January 2024, Weighted Average Fair Value on Grant Date">18.82</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted in March 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">    <span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod1_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zxVNbqvOJUGi" title="Granted in March 2024, Number of Units">58,215</span></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue1_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zprbOkOujCcg" title="Granted in March 2024, Weighted Average Fair Value on Grant Date">17.80</span></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Forfeit in March 2024</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pip0_di_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zMDelsFuizKe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Forfeit, Number of units">(155,250)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> n/a</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unvested as at December 31, 2024</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zdOCXiOT030j" style="border-top: Black 0.5pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>261,461</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20240101__20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zMvqyBJcLmXe" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21.92</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n/a </b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted in September 2025</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z8gMejI0Ctn8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in September 2025, Number of Units">2,375,250</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z18VhhJI2Yzj" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Granted in September 2025, Weighted Average Fair Value on Grant Date">25.55</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vested in period ended December 31, 2025</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z4FhHO9Qlrb1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested , Number of Units">(322,364)</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">n/a</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zubXizVddKng" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Vested, Actual Fair Value on Vesting Date">28.23</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Unvested as at December 31, 2025</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zdYIiU6JSTWc" style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; vertical-align: middle; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2,314,347</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$</b></span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20250101__20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_zzU9dZRbq6Bk" style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date,closing balance"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>25.55</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>n/a </b></span></td></tr> </table> 881213 22.35 535912 26.11 13195 18.82 58215 17.80 155250 261461 21.92 2375250 25.55 322364 28.23 2314347 25.55 13964000 8704000 345000 10189000 451000 <p id="xdx_80F_eus-gaap--EarningsPerShareTextBlock_zZ8EnBeQbGUl" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>18. <span id="xdx_826_z7MTlWLxQKG8">Earnings per Share</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the two-class method, net income, if any, is first reduced by the amount of dividends declared in respect of common shares for the current period, if any, and the remaining earnings are allocated to common shares and participating securities to the extent that each security can share the earnings assuming all earnings for the period are distributed.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnings are only allocated to participating securities in a period of net income if, based on the contractual terms, the relevant common shareholders have an obligation to participate in such earnings. As a result, earnings are only allocated to the Class A common shareholders.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At December 31, 2025 and 2024, there were <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_pid_c20251231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z1zwmncWK2d9">2,314,347</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_pid_c20241231__us-gaap--AwardTypeAxis__custom--RestrictedStockUnitsRSUIMember_z6lVNsKz5q13">261,461</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, respectively, shares of incentive share grants unvested as part of senior management’s and non-executive directors incentive awards approved on September 25, 2025, and on September 29, 2021, respectively.</span></p> <p id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zjAn37cqRAOf" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zAezFpXKfGD7">Earnings/(Loss) per Share (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 65%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49C_20250101__20251231_zcahvx5NXBGb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49E_20240101__20241231_zzcbXF5JYEUg" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_495_20230101__20231231_zo3IEM30UGQ" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareReconciliationAbstract_i01B_zWGxu1EunwTk"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Numerator:</i></b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2023</b></span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_zND3iRlF3cUd" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net income available to common shareholders:</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A, basic and diluted</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250101__20251231_zD49H6aST3I4" title="Class A, Diluted"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250101__20251231_z8U11V8jSNp5" title="Class A, Basic">406,919</span></span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20241231_zaN6GRFL7qyg" title="Class A, Basic"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20241231_zkj9y1ubV0P4" title="Class A, Diluted">344,092</span></span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231_zmImR2wIjCGd" title="Class A, Basic"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231_z4ClKdhXYXQ1" title="Class A, Diluted">294,964</span></span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_iB_zXXNRS3GYeW1" style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Denominator:</i></b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class A Common shares</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic weighted average number of common shares outstanding </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98D_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQiBiHMgV2d5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,708,122</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGFeVzGe2L7j" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,316,495</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPjIlQ5TxQA6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,405,458</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plus weighted average number of RSUs with service conditions</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zaaafeTX0N4l" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus weighted average number of RSUs with service conditions"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">254,014</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z88v07pjnYsd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus weighted average number of RSUs with service conditions"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">261,461</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFuddPSAs85j" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus weighted average number of RSUs with service conditions"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">523,464</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common share and common share equivalents, dilutive</span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAUWlhrqiRD4" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,962,136</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4A8kZbsMZ7l" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,577,956</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUGtkEdo8GS3" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,928,922</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareBasicAbstract_iB_zOXaUGtN0Zz8" style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basic earnings per share:</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--EarningsPerShareBasic_pip0_d0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zE2IF94KFlHg" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.40</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--EarningsPerShareBasic_pip0_d0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHcqTfiaX612" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.74</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--EarningsPerShareBasic_pip0_d0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7mAAgM1Dd55" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.33</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareDilutedAbstract_i01B_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBIer4c2cGN7" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Diluted earnings per share:</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z5VWw3bmh5C7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.32</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6F7JgZRTIej" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.67</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVeG4i2EOBfc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.21</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p id="xdx_8A2_zOfSuxxZJMYb" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"></p> 2314347 261461 <p id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zjAn37cqRAOf" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B0_zAezFpXKfGD7">Earnings/(Loss) per Share (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 65%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49C_20250101__20251231_zcahvx5NXBGb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_49E_20240101__20241231_zzcbXF5JYEUg" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_495_20230101__20231231_zo3IEM30UGQ" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareReconciliationAbstract_i01B_zWGxu1EunwTk"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Numerator:</i></b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2025</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2024</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2023</b></span></td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_zND3iRlF3cUd" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Net income available to common shareholders:</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A, basic and diluted</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20250101__20251231_zD49H6aST3I4" title="Class A, Diluted"><span id="xdx_907_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20250101__20251231_z8U11V8jSNp5" title="Class A, Basic">406,919</span></span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20240101__20241231_zaN6GRFL7qyg" title="Class A, Basic"><span id="xdx_900_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20240101__20241231_zkj9y1ubV0P4" title="Class A, Diluted">344,092</span></span></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20230101__20231231_zmImR2wIjCGd" title="Class A, Basic"><span id="xdx_905_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_c20230101__20231231_z4ClKdhXYXQ1" title="Class A, Diluted">294,964</span></span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_iB_zXXNRS3GYeW1" style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Denominator:</i></b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class A Common shares</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic weighted average number of common shares outstanding </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98D_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQiBiHMgV2d5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,708,122</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGFeVzGe2L7j" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,316,495</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPjIlQ5TxQA6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,405,458</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Plus weighted average number of RSUs with service conditions</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zaaafeTX0N4l" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus weighted average number of RSUs with service conditions"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">254,014</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z88v07pjnYsd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus weighted average number of RSUs with service conditions"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">261,461</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFuddPSAs85j" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus weighted average number of RSUs with service conditions"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">523,464</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common share and common share equivalents, dilutive</span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAUWlhrqiRD4" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,962,136</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4A8kZbsMZ7l" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,577,956</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zUGtkEdo8GS3" style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">35,928,922</span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareBasicAbstract_iB_zOXaUGtN0Zz8" style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basic earnings per share:</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--EarningsPerShareBasic_pip0_d0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zE2IF94KFlHg" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.40</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--EarningsPerShareBasic_pip0_d0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHcqTfiaX612" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.74</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--EarningsPerShareBasic_pip0_d0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7mAAgM1Dd55" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.33</span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareDilutedAbstract_i01B_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBIer4c2cGN7" style="background-color: rgb(204,238,255)"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Diluted earnings per share:</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class A</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20250101__20251231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z5VWw3bmh5C7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.32</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z6F7JgZRTIej" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.67</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20230101__20231231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVeG4i2EOBfc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.21</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> 406919000 406919000 344092000 344092000 294964000 294964000 35708122 35316495 35405458 254014 261461 523464 35962136 35577956 35928922 11.40 9.74 8.33 11.32 9.67 8.21 <p id="xdx_809_eus-gaap--SubsequentEventsTextBlock_zQbmw0Z7CQHg"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19. <span id="xdx_821_z8l3eposONQ4">Subsequent events</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 10, 2026, the Company announced a dividend of $<span id="xdx_90A_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20260212__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockDividendsPerShareDeclared__us-gaap--DividendsAxis__custom--O2026Q1DividendsMember_z5ahxB1Qk3Lk">0.625</span> per Class A common share from the earnings of the fourth quarter of 2025 paid on <span id="xdx_905_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20260101__20260210__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockDividendsPerShareDeclared__us-gaap--DividendsAxis__custom--O2026Q1DividendsMember_zvPQo4mMssna">March 6, 2026</span>, to common shareholders of record as of <span id="xdx_905_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20260101__20260224__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockDividendsPerShareDeclared__us-gaap--DividendsAxis__custom--O2026Q1DividendsMember_zeXDYoxSZAk6">February 24, 2026</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the fourth quarter of 2025, the Company agreed to purchase three ECO <span id="xdx_903_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeECOVesselsIMember_zAguIX8j7FI4">8,586</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU, Korean-built containerships for an aggregate price of approximately $<span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThreeECOVesselsIMember_zM7q82z34Hi3">90,000</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, of which two were delivered on <span id="xdx_900_ecustom--VesselDeliveryDate1_uPure_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwoOutOfThreeECOVesselsMember_zEoiVafR5M67">various dates in December 2025</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and the third one on <span id="xdx_903_ecustom--VesselDeliveryDate1_uPure_c20260101__20260109__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ThirdECOVesselsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zH2pzLOujJ31">January 9, 2026</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">. The Company funded the acquisitions with cash on hand, with the potential to secure financing at a later stage. As of December 31, 2025, the Company had paid $<span id="xdx_90C_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_pn3n3_c20250101__20251231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CypressMember_zK90dowxMtGh" title="Advances for vessel acquisition">30,200</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">as an advance for the third ECO <span id="xdx_902_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20260101__20260109__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CypressMember_zVbhGFRQXddi">8,586</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU vessel acquisition, Cypress, which was delivered on <span id="xdx_90D_ecustom--VesselDeliveryDate1_uPure_c20260101__20260109__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--CypressMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zj7oUgctnzp1">January 9, 2026</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p> 0.625 2026-03-06 2026-02-24 8586 90000000 various dates in December 2025 January 9, 2026 30200000 8586 January 9, 2026 Cash received in advance from charterers is held as cash collateral and other instruments with maturities exceeding three months see Note 2(e). For the years ended December 31, 2025, and 2024, instruments with maturities over three months were $98,656 and $nil, respectively. The charters of the two ECO 8,586 TEU Vessels resulted in an intangible liability of $38,122 that was recognized and will be amortized over the remaining useful life of the charters. The charter of the fourth high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $15,987 that was recognized and is being amortized over the remaining useful life of the charter. As of December 31, 2024, the Company had paid $6,850 advance for this vessel acquisition. The charters of the three high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $49,295 that was recognized and will be amortized over the remaining useful life of the charters. As of December 31, 2024, the charters of the three high-reefer ECO 9,019 TEU Vessels resulted in an intangible liability of $49,295 that was recognized and is being amortized over the remaining useful life of the charters. Includes mainly current portion of the straight-line basis of revenue recognition. As of December 31, 2025, accrued expenses include $9,476 (December 31, 2024: $8,191), which reflects 1.00% commission payable to the commercial manager based on the purchase price of already acquired vessels that has been deferred and will be paid upon request of the commercial manager (see Note 14).