v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
(Loss)/Income for the period $ 5,128 $ (3,350)
Adjustments for:    
Depreciation 4,980 4,971
Depreciation of deferred dry-docking costs 2,105 2,427
Payment of deferred dry-docking costs (339) (1,956)
Provision for staff retirement indemnities 12 65
Gain on derivative financial instruments (4) (8)
Gain on sale of vessel 0 (2,137)
Interest expense and finance costs 3,476 4,221
Interest income (398) (1,005)
Foreign exchange losses/(gains), net 17 42
Trade receivables, net (3,147) (407)
Inventories 888 (159)
Prepayments and other assets (4,500) 181
Trade accounts payable (7) (1,093)
Accrued liabilities and other payables 1,972 (179)
Deferred revenue 154 (444)
Net cash generated from operating activities 10,337 1,169
Cash flows from investing activities:    
Net Proceeds from sale of vessel 0 8,362
Advance for vessel acquisition (70) 0
Improvements (308) (31)
Purchases of office furniture and equipment (5) (10)
Interest received 398 931
Net cash generated from investing activities 15 9,252
Cash flows from financing activities:    
Repayment of long-term debt and financial liabilities (4,033) (4,184)
Prepayment of long-term debt 0 (1,879)
Decrease in restricted cash 0 1,055
Repayment of lease liability - principal (163) (154)
Interest paid (3,089) (3,769)
Net cash used in financing activities (7,285) (8,931)
Net increase in cash and cash equivalents 3,067 1,490
Cash and cash equivalents at the beginning of the period 26,254 46,837
Cash and cash equivalents at the end of the period $ 29,321 $ 48,327