v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 9,575 $ (11,962)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 21,038 17,665
Amortization of deferred financing costs 612 493
Right-of-use asset amortization 99 334
Amortization of nonvested stock compensation expense 1,830 1,496
Impairment of vessel assets 527 0
Net gain on sale of vessels (2,075)  
Insurance proceeds for protection and indemnity claims 187 5
Insurance proceeds for loss of hire claims   6
Change in assets and liabilities:    
(Increase) decrease in due from charterers (5,989) 3,165
(Increase) decrease in prepaid expenses and other current assets (338) 317
Decrease (increase) in inventories 2,328 (1,103)
(Decrease) increase in accounts payable and accrued expenses (2,936) 3,736
(Decrease) increase in deferred revenue (2,847) 680
Increase (decrease) in operating lease liabilities 77 (519)
Deferred drydock costs incurred (6,396) (11,411)
Net cash provided by operating activities 15,692 2,902
Cash flows from investing activities:    
Purchase of vessels and ballast water treatment systems, including deposits (133,846) (2,845)
Purchase of other fixed assets (405) (652)
Net proceeds from sale of vessels 10,934  
Insurance proceeds for hull and machinery claims   581
Net cash used in investing activities (123,317) (2,916)
Cash flows from financing activities:    
Cash dividends paid (22,598) (13,433)
Payment of deferred financing costs (547)  
Net cash provided by (used in) financing activities 106,855 (13,433)
Net decrease in cash, cash equivalents and restricted cash (770) (13,447)
Cash and cash equivalents at beginning of period 55,540 44,005
Cash and cash equivalents at end of period 54,770 $ 30,558
$680 Million Revolver    
Cash flows from financing activities:    
Proceeds from the Revolver 69,287  
$600 Million Revolver    
Cash flows from financing activities:    
Proceeds from the Revolver 65,000  
Repayments on the Revolver $ (4,287)