v3.26.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]      
Revenues (including $8,943, $8,967 and $8,943 respectively, from related party) (Note 17 & 5) $ 80,415 $ 86,127 $ 82,949
EXPENSES:      
Voyage expenses (including$1,037, $1,040 and $1,015 respectively, to related party) (Note 11) 2,501 2,008 1,609
Operating lease expense (Note 6) 10,301 10,869 10,840
Vessel operating expenses (including$42, $46 and $11 respectively, to related party) (Note 11) 18,395 19,086 18,527
Dry-docking costs 0 3,152 0
Vessel depreciation (Note 4) 12,271 13,336 14,349
Management fees-related parties (Note 5) 3,050 2,266 2,200
General and administrative expenses (including$5,360, $6,360 and $6,360 respectively, to related party) (Note 5) 7,617 7,506 6,697
Operating income 26,280 27,904 28,727
OTHER EXPENSES:      
Interest and finance costs (Note 12) (23,406) (23,496) (22,989)
Interest income (including $-, $- and $277 respectively, from related party) (Note 5) 385 467 346
Equity (loss)/gain in unconsolidated joint ventures (173) 159 (18)
Total other expenses, net (23,194) (22,870) (22,661)
Net income 3,086 5,034 6,066
Less: Preferred shares dividend (Note 15) 0 0 (6,010)
Less: Deemed dividend on Series E Shares conversion 0 0 (22,426)
Net (Loss)/Income attributable to common shareholders $ 3,086 $ 5,034 $ (22,370)
(Loss)/Earnings per common share, basic (Note 10) (in dollars per share) $ 0.67 $ 1.09 $ (12.44)
(Loss)/Earnings per common share, diluted (Note 10) (in dollars per share) $ 0.67 $ 1.09 $ (12.44)
Other Comprehensive Income:      
Net income $ 3,086 $ 5,034 $ 6,066
Change in foreign currency translation adjustments 697 0 0
Total Other Comprehensive Income $ 3,783 $ 5,034 $ 6,066