3.
Transactions with Related Parties:
Details of the Company’s
transactions with related parties did not change in the six-month period ended June 30, 2026, and are discussed in Note 3 of the Company’s
consolidated financial statements for the year ended December 31, 2025, included in the 2025 Annual Report.
Transactions and balances
with related parties are analyzed as follows:
| a) | Management and Directors Fees:
As of December 31, 2025, and as of June 30, 2026, the amount payable due to consultancy agreements
and directors’ fees amounted to $225
and $147,
respectively, and is presented within “Due to related parties” in the
unaudited consolidated balance sheets. The consultancy agreements’ expenses for the
six-month periods ended June 30, 2025 and 2026 amounted to $395
and $397,
respectively, and are presented within “General and Administrative expenses”
in the unaudited consolidated income statements. |
| | | |
| b) | Oceanbulk Maritime S.A. and its affiliates
(or “Oceanbulk Maritime”): As of December 31, 2025, an amount of $45
due from Oceanbulk Maritime is presented within “Due from related parties”
in the unaudited consolidated balance sheet. There was no outstanding balance as of June
30, 2026. 0 |
| | | |
| c) | Iblea Ship Management Limited and
Megara Shipmanagement Ltd.: As of December 31, 2025, and as of June 30, 2026, the amount
payable to Iblea Ship Management Limited and Megara Shipmanagement Ltd. amounted to $3,332
and $1,645
and is presented within “Due to related parties” in the unaudited consolidated
balance sheets. The related management fees for the six-month periods ended June 30, 2025
and 2026 amounted to $1,465
and $1,955,
respectively, and are presented within “Management fees” in the
unaudited consolidated income statements. |
|