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VOYAGE REVENUES
6 Months Ended
Jun. 30, 2026
VOYAGE REVENUES  
VOYAGE REVENUES

11 – VOYAGE REVENUES

Total voyage revenues include revenue earned on fixed rate time charters, spot market voyage charters and spot market-related time charters, as well as the sale of bunkers consumed during short-term time charters. For the three months ended June 30, 2026 and 2025, the Company earned $136,414 and $80,939 of voyage revenues, respectively. For the six months ended June 30, 2026 and 2025, the Company earned $250,843 and $152,208, respectively.

Total voyage revenues recognized in the Condensed Consolidated Statements of Operations include the following:

For the Three Months Ended

For the Six Months Ended

June 30, 

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

Lease revenue

$

39,062

$

29,664

$

72,911

$

62,000

Spot market voyage revenue

97,352

51,275

177,932

90,208

Total voyage revenues

$

136,414

$

80,939

$

250,843

$

152,208