Vessel Revenue and Voyage Expenses |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Vessel Revenue and Voyage Expenses |
Revenue Recognition
Demurrage income for
the years ended December 31, 2025, 2024 and 2023 was $254, $ and $, respectively.
Despatch expense for the years ended December 31, 2025, 2024 and 2023 was $83, $ and $, respectively.
Disaggregation
of Revenue
The
following table presents the Company’s statements of income figures derived from spot charters and time charters for the years ended December 31, 2025, 2024 and 2023:
The
Company disaggregates its revenue from contracts with customers by the type of charter (time and spot charters). As of December 31, 2025 and 2024, the trade accounts receivable was $871 and $404, respectively, and related to time
charters.
The current portion of Deferred revenue as of December 31, 2025 and December 31, 2024 was $4,934 and $2,094, respectively and relates to cash received in advance of performance under operating leases and to premiums for energy devices (i.e.,
increased daily hire rates provided for by the chartering agreements) for specific equipment installed in the vessels. The non-current portion of Deferred revenue as of December 31, 2025 and December 31, 2024 was $ and $67 and relates to
premiums for energy saving devices (i.e. increased daily hire rates provided for by the chartering agreements) for specific equipment installed in the vessels. The Deferred revenue is allocated on a straight-line basis over the minimum
duration of each charter party.
Charterers individually accounting for more than
10% of revenues during the years ended December 31, 2025, 2024 and 2023 were:
Voyage Expenses
The following table presents the Company’s statements
of income figures derived from spot charters and time charters for the years ended December 31, 2025, 2024 and 2023:
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