v3.26.1
Consolidated Consolidated Statements of Cash flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities of continuing operations:      
Net income from operations $ 170,759 $ 193,634 $ 47,208
Less: Net income from discontinued operations 57,365 138,444 38,961
Net income from continuing operations 113,394 55,190 8,247
Adjustments to reconcile net income to net cash provided by operating activities:      
Vessel depreciation and amortization (Note 6) 87,213 76,454 47,559
Impairment of vessels (Note 2) 0 0 11,157
Amortization and write-off of deferred financing costs 3,738 3,028 1,742
Amortization / accretion of above / below market acquired charters (Note 7) 22,585 17,052 (4,014)
Amortization of ineffective portion of derivatives (210) (209) (260)
Equity compensation expense (Note 15) 6,395 6,918 3,786
Change in fair value of derivatives (Note 9) (18,114) 10,934 (5,529)
Unrealized bonds exchange differences (Note 8) 19,775 (9,848) 6,018
Changes in operating assets and liabilities:      
Trade accounts receivable (4,748) (1,799) 170
Prepayments and other assets (785) 525 1,002
Due from related party 1,131 716 (1,847)
Inventories 445 (1,904) 1,730
Claims (752) 0 0
Trade accounts payable (2,566) 5,634 2,776
Due to related parties 2,065 1,386 1,140
Accrued liabilities 5,265 13,403 3,593
Deferred revenue (526) 7,337 8,499
Dry-docking costs paid (1,488) 0 1
Net cash provided by operating activities of continuing operations 232,817 184,817 85,770
Cash flows from investing activities of continuing operations:      
Vessel acquisitions, vessels under construction and improvements including acquired time and bareboat charter agreements (Notes 6, 7) (315,121) (1,200,978) (336,335)
Proceeds from insurance claims 573 0 0
(Expenses paid for the sale of vessels) / proceeds from sale of vessels, net (Note 6) (220) (219) 21,780
Net cash used in investing activities of continuing operations (314,768) (1,201,197) (314,555)
Cash flows from financing activities of continuing operations:      
Proceeds from long-term debt (Note 8) 44,454 1,582,000 292,000
Deferred financing and offering costs paid (1,462) (12,911) (2,488)
Payments of long-term debt (Note 8) (120,868) (780,910) (67,029)
Proceeds from offering, net of commissions paid (Notes 1, 14) 207 0 45,817
Rights offering costs paid (498) (476) (824)
Repurchase of common units (Note 14) 0 0 (4,112)
Dividends paid (Note 14) (18,997) (33,813) (12,242)
Net cash (used in) / provided by financing activities of continuing operations (97,164) 753,890 251,122
Net (decrease) / increase in cash, cash equivalents and restricted cash from continuing operations (179,115) (262,490) 22,337
Cash flows from discontinued operations      
Operating activities 9,245 55,030 102,942
Investing activities 230,195 448,059 (132,537)
Financing activities (100,610) (108,902) 55,888
Net increase in cash, cash equivalents and restricted cash from discontinued operations 138,830 394,187 26,293
Net (decrease) / increase in cash, cash equivalents and restricted cash (40,285) 131,697 48,630
Cash, cash equivalents and restricted cash at the beginning of the year 335,175 203,478 154,848
Cash, cash equivalents and restricted cash at the end of the year 294,890 335,175 203,478
Supplemental cash flow information      
Cash paid for interest net of interest capitalized during the construction period (Note 2(m)) 107,022 131,870 98,606
Non-Cash Investing and Financing Activities      
Capital expenditures included in liabilities 2,929 4,140 6,684
Capitalized dry-docking costs included in liabilities 4,021 4,149 4,149
Deferred financing costs included in liabilities 60 86 1,934
Expenses for sale of vessels included in liabilities 1,870 5,396 440
Seller's credit agreements in connection with the acquisition of vessel- owning companies (Notes 5, 6, 8) 0 134,764 0
Dividends reinvestment plan issuance of new shares (Note 14) 16,475 0 0
Sale and lease back agreements and credit facility assumed in connection with the acquisition of vessel-owning companies 0 0 196,317
Amounts for the acquisition of vessel owning companies and companies owning vessels under construction, netted against the amount due from CMTC pursuant to the Standby Purchase Agreement (Notes 1, 5, 14) 0 0 279,783
Advances for vessels under construction - related party, netted against the amount due from CMTC pursuant to the Standby Purchase Agreement (Notes 1, 5, 6, 14) 0 0 174,400
Reconciliation of cash, cash equivalents and restricted cash      
Cash and cash equivalents 273,843 312,654 191,757
Restricted cash - current assets 7,024 0 0
Restricted cash - non-current assets 14,023 22,521 11,721
Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 294,890 $ 335,175 $ 203,478