v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities            
Net income $ 56,975 $ 22,240 $ 93,359 $ 50,964    
Adjustments to reconcile net income to net cash provided by operating activities            
Unrealized loss/(gain) on non-designated derivative instruments (2,358) 1,349 (3,951) 2,385    
Realized loss on non-designated derivative instruments 374 2 374 1,228    
Proceeds from derivative settlements     276 0    
Depreciation and amortization 31,465 34,827 63,398 69,013    
Payment of drydocking costs     (10,887) (12,106)    
Profit from sale of vessels (15,256) (12,617) (27,320) (12,617)    
Share-based compensation expense     1,158 840    
Amortization of deferred financing costs     1,546 1,740    
Share of results of equity method investments (7,125) (4,805) (9,721) (3,901) $ (8,036)  
Deferred taxes     1,396 319    
Repayments under operating lease obligations     (619) (397)    
Net other income 0 0 (1,337) (4,801)    
Other unrealized foreign exchange loss     302 1,003    
Changes in operating assets and liabilities            
Accounts receivable     (3,779) (1,730)    
Insurance claims receivables     (4,245) (3,979)    
Bunkers and lubricant oils     (4,056) (485)    
Accrued income, prepaid expenses and other current assets     (1,700) (6,199)    
Accounts payable, accrued interest, accrued expenses and other liabilities     4,007 17,706    
Amounts to/(from) related parties     (2,435) 4,761    
Net cash provided by operating activities     95,766 103,744    
Cash flows from investing activities            
Additions to vessels and equipment     (51) (83,742)    
Additions to vessels under construction     (21,557) (20,580)    
Contributions to equity method investments     (1,576) (4,000)    
Distributions from equity method investments     11,495 3,109    
Investment in preferred securities     0 (1,250)    
Net proceeds from sale of vessels     50,450 17,454    
Insurance recoveries     35 2,287    
Net cash (used in)/provided by investing activities     38,796 (86,722)    
Cash flows from financing activities            
Proceeds from secured term loan facilities and revolving credit facilities     118,221 377,208    
Direct financing cost of secured term loan and revolving credit facilities and unsecured bonds     (3,334) (3,739)    
Repurchase of share capital     (68,549) (34,848)    
Proceeds of unsecured bonds     0 40,000    
Repayment of secured term loan facilities and revolving credit facilities     (99,152) (239,349)    
Dividend paid to non-controlling interest     (1,572) (1,600)    
Dividends paid     (8,642) (6,918)    
Net cash provided by/(used in) financing activities     (63,028) 130,754    
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (2,571) (144)    
Net increase in cash, cash equivalents and restricted cash     68,963 147,632    
Cash, cash equivalents and restricted cash at beginning of period 273,834 287,429 273,834 287,429 204,871 $ 139,797
Cash, cash equivalents and restricted cash at end of period 273,834 287,429 273,834 287,429 204,871  
Supplemental Information            
Total interest paid during the period, net of amounts capitalized     22,599 25,645    
Total tax paid during the period     1,146 1,084    
Cash and cash equivalents 225,892 238,140 225,892 238,140 154,950  
Restricted cash 47,942 49,289 47,942 49,289 49,921  
Total cash, cash equivalents and restricted cash $ 273,834 $ 287,429 $ 273,834 $ 287,429 $ 204,871