v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:      
Net income (loss) $ 16,737 $ 26,312 $ (18,771)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 22,367 43,405 35,797
Amortization of deferred financing costs   1,262 992
Right-of-use asset amortization   197 670
Amortization of nonvested stock compensation expense 2,245 4,075 3,276
Impairment of vessel assets 1,198 1,726 651
Net gain on sale of vessels (1,942) (4,017)  
Insurance proceeds for protection and indemnity claims   209 79
Insurance proceeds for loss of hire claims     6
Change in assets and liabilities:      
(Increase) decrease in due from charterers   (12,435) 7,282
Decrease in prepaid expenses and other current assets   2,372 742
(Increase) decrease in inventories   (362) 1,760
Increase in accounts payable and accrued expenses   571 8,921
Decrease in deferred revenue   (1,023) (1,109)
Increase (decrease) in operating lease liabilities   154 (1,046)
Deferred drydock costs incurred   (13,508) (30,947)
Net cash provided by operating activities   48,938 8,303
Cash flows from investing activities:      
Purchase of vessels and ballast water treatment systems, including deposits   (143,185) (5,799)
Purchase of other fixed assets   (1,119) (1,726)
Net proceeds from sale of vessels   21,073  
Insurance proceeds for hull and machinery claims   1,024 864
Net cash used in investing activities   (122,207) (6,661)
Cash flows from financing activities:      
Cash dividends paid   (37,850) (19,876)
Payment of deferred financing costs   (834) (17)
Net cash provided by (used in) financing activities   91,316 (9,893)
Net increase (decrease) in cash, cash equivalents and restricted cash   18,047 (8,251)
Cash and cash equivalents at beginning of period   55,540 44,005
Cash and cash equivalents at end of period $ 73,587 73,587 35,754
$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)  
$500 Million Revolver      
Cash flows from financing activities:      
Proceeds from the Revolver     $ 10,000