| Information About Reportable Segments |
The table below
presents information about the Company’s reportable segments for the year ended December 31, 2025. The accounting policies followed in the preparation of the reportable segments are the same as those followed in the preparation of the Company’s
consolidated financial statements. Segment results are evaluated based on income from operations.
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|
Year ended December 31, 2025
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Tanker Segment
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Megayacht Segment
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Total
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REVENUES:
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|
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|
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Time charter revenues
|
|
|
67,121
|
|
|
|
4,351
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|
|
|
71,472
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|
|
Time charter revenues from related parties
|
|
|
8,943
|
|
|
|
-
|
|
|
|
8,943
|
|
|
Total revenues
|
|
|
76,064
|
|
|
|
4,351
|
|
|
|
80,415
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|
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EXPENSES:
|
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Voyage expenses
|
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|
1,594
|
|
|
|
907
|
|
|
|
2,501
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|
|
Operating lease expenses
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|
10,301
|
|
|
|
-
|
|
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|
10,301
|
|
|
Other vessel operating expenses
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|
17,082
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|
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|
1,313
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|
|
|
18,395
|
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Vessel depreciation
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|
|
11,586
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|
|
|
685
|
|
|
|
12,271
|
|
|
Management fees-related parties-direct
|
|
|
1,734
|
|
|
|
178
|
|
|
|
1,912
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|
|
Segments operating results
|
|
|
33,767
|
|
|
|
1,268
|
|
|
|
35,035
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General and administrative expenses
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|
|
|
|
|
|
|
|
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(7,617
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)
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Management fees-related parties-overhead costs
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|
|
|
|
|
|
|
|
|
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(1,138
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)
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Interest and finance costs
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|
|
|
|
|
|
|
|
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(23,406
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)
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Interest income
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|
|
|
|
|
|
|
|
|
|
385
|
|
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Equity losses in unconsolidated joint ventures
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|
|
|
|
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|
|
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(173
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)
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Net income
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|
|
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|
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3,086
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| Reconciliation of Total Segment Assets to Total Assets |
A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets as of December 31, 2025 is as follows:
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As of December 31, 2025
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Tanker segment
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246,582
|
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|
Megayacht segment
|
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|
44,919
|
|
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Cash and cash equivalents including restricted cash
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22,222
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Investments in unconsolidated joint ventures
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7,881
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Advances for asset acquisitions to related parties
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11,500
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Other fixed assets, net
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|
505
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Total consolidated assets
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333,609
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