v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 47,214 $ 46,845
Receivables, net of allowance for bad debts of $1.3 million (2024: $1.9 million) 52,780 47,537
Prepaid expenses and other assets 4,660 3,687
Advances and deposits 5,548 4,869
Inventories 13,039 8,912
Vessel held for sale 22,944 0
Total current assets 146,185 111,850
Non-current assets    
Investments and other assets, net of accumulated depreciation of $2.7 million (2024: $2.5 million) 4,941 4,983
Vessels and vessel equipment, net of accumulated depreciation of $298.1 million (2024: $264.4 million) 607,939 638,123
Deferred drydock expenditures, net of accumulated amortization of $31.3 million (2024: $25.8 million) 24,151 27,068
Deferred finance fees, net 4,701 4,920
Operating lease, right-of-use assets 1,685 1,780
Total non-current assets 643,417 676,874
TOTAL ASSETS 789,602 788,724
Current liabilities    
Accounts payable 12,249 5,066
Accrued expenses and other liabilities 15,742 18,585
Deferred revenue 1,452 1,598
Current portion of operating lease obligations 585 598
Total current liabilities 30,028 25,847
Non-current liabilities    
Non-current portion of long-term debt 103,359 127,000
Non-current portion of operating lease obligations 1,161 1,272
Other non-current liabilities 268 268
Total non-current liabilities 104,788 128,540
TOTAL LIABILITIES 134,816 154,387
Stockholders' equity    
Common stock ($0.01 par value, 225,000,000 shares authorized, 44,307,697 issued and 40,731,441 outstanding as of December 31, 2025 and 44,031,496 issued and 40,455,240 outstanding as of December 31, 2024) 444 443
Additional paid in capital 479,149 478,619
Treasury stock (3,576,256 shares as of December 31, 2025 and 3,576,256 shares as of December 31, 2024) (33,524) (33,524)
Retained earnings 208,717 188,799
Total stockholders' equity 654,786 634,337
Total redeemable preferred stock and stockholders' equity 654,786 634,337
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY $ 789,602 $ 788,724