Cash and Cash Equivalents and Restricted Cash |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents and Restricted Cash [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents and Restricted Cash |
4. Cash and Cash Equivalents and Restricted Cash:
The following table provides a reconciliation of
cash and cash equivalents and restricted cash reported within the unaudited interim condensed consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim condensed consolidated statements of
cash flows:
Restricted cash as of June 30, 2026 includes a $5,000 term deposit as pledged, at the Company’s option, capital for a one-month period as per the October 2024 Alpha Bank Loan Facility (Note 9) and $109 of
restricted deposits pledged as collateral for credit cards balances with one of the Company’s financial institutions.
Restricted cash, non-current as of June 30, 2026 includes $3,000 of minimum liquidity requirements as per the February 2025
Piraeus Bank Loan Facility (Note 9), $2,800 of minimum liquidity requirements as per the December 2025 Danish Ship Finance
Loan Facility (Note 9) and $500 of minimum liquidity requirements as per the June 2026 Alpha Bank Loan Facility (Note 9).
Minimum liquidity, not legally restricted, as of June 30, 2026, of $9,500 as per the Company’s credit facilities’
covenants, is included in “Cash and cash equivalents” in the unaudited interim condensed consolidated balance sheet.
Restricted cash as of December 31, 2025 includes a $8,000
term deposit as pledged, at the Company’s option, capital for a one-month period as per the October 2024 Alpha Bank Loan
Facility (Note 9) and $109 of restricted deposits pledged as collateral for credit cards balances with one of the Company’s financial institutions. Restricted cash, non-current as of December 31, 2025 includes $3,000 of minimum liquidity requirements as per the February 2025 Piraeus Bank Loan Facility (Note
9), $2,800 of minimum liquidity requirements as per the December 2025 Danish Ship
Finance Loan Facility (Note 9) and $500 of minimum liquidity requirements as per the June 2022 Alpha Bank Loan Facility
(Note 9). Minimum liquidity, not legally restricted, as of December 31, 2025, of $10,000 as per the Company’s credit
facilities’ covenants, is included in “Cash and cash equivalents” in the unaudited interim condensed consolidated balance sheet.
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