v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 20,372 $ 7,629
Restricted cash (Note 6) 0 1,000
Trade accounts receivable (including $- and $112 to related party (Note 5)) 1,543 1,113
Prepayments and other 966 1,048
Right of use assets from operating leases (Note 6) 0 9,666
Deposit asset (Note 6) 0 2,000
Inventories 564 983
Due from related parties (Note 5) $ 600 $ 0
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Total current assets $ 24,045 $ 23,439
FIXED ASSETS:    
Vessels, net (Note 4(a)) 268,466 361,374
Advances for vessels under construction (Note 4(b)) 18,207 0
Other fixed assets, net 505 505
Total fixed assets 287,178 361,879
OTHER NON-CURRENT ASSETS:    
Restricted cash (Note 7) 1,850 3,000
Advances for asset acquisitions to related party (Note 5) 11,500 24,000
Investments in unconsolidated joint ventures (Note 16) 7,881 8,054
Trade accounts receivable, non-current 1,155 2,400
Total non-current assets 22,386 37,454
Total assets 333,609 422,772
CURRENT LIABILITIES:    
Current portion of long-term debt (Note 7) 11,824 14,202
Due to related parties (Note 5) $ 139 $ 1,169
Other Liability, Current, Related Party, Type [Extensible Enumeration] Related Party [Member] Related Party [Member]
Accounts payable $ 3,342 $ 1,821
Accrued liabilities 1,521 2,993
Unearned revenue 3,228 6,652
Current portion of Operating lease liabilities (Note 6) 0 6,357
Liability from contract with related party (Note 5) 19,500 0
Total current liabilities 39,554 33,194
NON-CURRENT LIABILITIES:    
Non-current portion of long-term debt (Note 7) 204,788 245,056
Unearned revenue, non-current 78 102
Total non-current liabilities 204,866 245,158
COMMITMENTS AND CONTINGENCIES (Note 8)
Total liabilities 244,420 278,352
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 20,000,000 shares authorized; of which 100,000 Series D shares were outstanding at December 31, 2024 and 2025 (Note 9) 1 1
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 4,626,197 shares issued and outstanding at December 31, 2024 and 2025 (Note 9) 46 46
Additional paid-in capital 425,433 451,079
Accumulated other Comprehensive Income 697 0
Accumulated deficit (336,988) (306,706)
Total stockholders' equity 89,189 144,420
Total liabilities and stockholders' equity $ 333,609 $ 422,772