Vessel Revenue, net and Voyage Expenses |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vessel Revenue, net and Voyage Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vessel Revenue, net and Voyage Expenses |
The Company disaggregates its revenue from contracts with customers by the type of charter (time and spot charters). The following table
presents the Company’s income statement figures derived from time charters for the six-month periods ended June 30, 2026 and 2025:
Demurrage income for the six-month period ended June 30, 2026 and 2025 was $ and $118, respectively.
For the six-month period ended June 30, 2026 and 2025, the amortization of the below market acquired time charters amounted to $163 and $ and accounted as an
addition to “Vessel revenue, net”. As of June 30, 2026 and December 31, 2025, the below market acquired time charters amounted to $259
and $, respectively, and are presented under “Liabilities assumed from time charter attached” in the accompanying condensed
consolidated balance sheets.
As of June 30, 2026 and December 31, 2025, the trade accounts receivable was $1,064 and $1,421, respectively, and related to time charters.
Deferred revenue represents cash received in advance of performance under the contract prior to the balance sheet date and is realized when
the associated revenue is recognized under the contract in periods after such date. Deferred revenue as of June 30, 2026 and December 31, 2025 was $814
and $415, respectively, and relates entirely to ASC 842. As of June 30, 2026 and December 31, 2025, an amount of $ and $15, respectively, related to
ballast bonus payments made by charterers for the ballast trip which are deferred and recognized on a straight line over the charter period.
As of June 30, 2026 and December 31, 2025, an amount of $ and $163, respectively, included in “Deferred revenue” and related to
time charter arrangements which were treated as lease modification and not accounted for as separate contract.
Charterers individually accounting for more than 10% of revenues for the six-month periods ended June 30, 2026 and 2025 were:
Voyage Expenses
The following table presents the Company’s statement of operations’ figures derived from time charters and for unfixed periods for the period from
for the six-month periods ended June 30, 2026 and 2025:
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