v3.26.1
Condensed consolidated statements of financial position - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Non-current assets    
Vessels, net $ 1,193,612,396 $ 922,117,179
Advances for acquisition of vessels 20,133,259 38,894,251
Other non-current assets 3,529,393 58,332
Derivative financial instruments   120,638
Restricted cash 6,210,000 4,510,000
Total non-current assets 1,223,485,048 965,700,400
Current assets    
Inventories 29,662,719 17,273,715
Trade and other receivables 133,974,496 85,091,040
Claims receivable 612,402 320,097
Prepaid expenses and other current assets 9,579,615 6,466,709
Derivative financial instruments 1,869,361 1,470,326
Current accounts due from related parties 8,475,446 6,286,469
Current portion of restricted cash 19,005,431 1,399,243
Cash & cash equivalents 222,591,472 116,636,741
Total current assets 425,770,942 234,944,340
TOTAL ASSETS 1,649,255,990 1,200,644,740
Shareholders' equity    
Share capital 39,740 36,129
Additional paid-in capital 249,287,654 124,891,132
Treasury shares (4,583,929) (4,583,929)
Other reserves (34,903) (34,903)
Retained earnings 632,803,235 452,782,809
Total shareholders' equity 877,511,797 573,091,238
Non-current liabilities    
Long-term borrowings, net of current portion 670,787,434 470,583,980
Retirement benefit obligations 61,629 61,629
Other non-current liabilities 4,874,156  
Total non-current liabilities 675,723,219 470,645,609
Current liabilities    
Trade payables 32,303,193 13,748,183
Accrued expenses and other current liabilities 9,186,092 8,643,793
Deferred revenue 2,825,340  
Current portion of long-term borrowings 51,706,349 134,515,917
Total current liabilities 96,020,974 156,907,893
TOTAL LIABILITIES 771,744,193 627,553,502
TOTAL SHAREHOLDERS' EQUITY & LIABILITIES $ 1,649,255,990 $ 1,200,644,740