v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating revenues: (Notes 3 and 4)        
Loss of hire insurance recoveries (Note 5) $ 4,127 $ 607 $ 6,354 $ 607
Other income 564 533 1,120 1,105
Total revenues 96,776 87,060 188,783 171,089
Gain from disposal of vessel       1,342
Operating expenses:        
Vessel operating expenses 36,445 33,005 69,404 63,614
Voyage expenses and commission 986 944 986 1,711
Depreciation 42,087 29,372 83,939 58,135
General and administrative expenses 1,701 1,555 4,201 3,351
Total operating expenses 81,219 64,876 158,530 126,811
Operating income 15,557 22,184 30,253 45,620
Finance income (expense): (Note 6)        
Interest income 965 903 1,743 1,651
Interest expense (Note 6) (13,801) (15,316) (27,724) (30,218)
Other finance expense (Note 6) (235) (199) (431) (351)
Realized and unrealized gain (loss) on derivative instruments (Note 7) 1,406 (370) 2,781 (1,714)
Net gain (loss) on foreign currency transactions (323) (267) (149) 107
Total finance expense (11,988) (15,249) (23,780) (30,525)
Income (loss) before income taxes 3,569 6,935 6,473 15,095
Income tax expense (Note 9) (158) (125) (435) (704)
Net income (loss) 3,411 6,810 6,038 [1] 14,391 [1]
Series A Preferred unitholders' interest in net income (loss) 1,700 1,700 3,400 3,400
General Partner's interest in net income (loss) 32 95 49 203
Limited Partners' interest in net income (loss) $ 1,679 $ 5,015 $ 2,589 $ 10,788
Earnings per unit (Basic): (Note 16)        
General Partner unit (in dollars per share) $ 0.05 $ 0.15 $ 0.08 $ 0.32
Earnings per unit (Diluted): (Note 16)        
General Partner unit (in dollars per share) 0.05 0.15 0.08 0.32
Common units        
Earnings per unit (Basic): (Note 16)        
Earnings per unit (basic) (in dollars per share) 0.05 0.15 0.08 0.32
Earnings per unit (Diluted): (Note 16)        
Earnings per unit (diluted) (in dollars per share) $ 0.05 $ 0.15 $ 0.08 $ 0.32
Time charter and bareboat revenues        
Operating revenues: (Notes 3 and 4)        
Revenue from contract with customers $ 92,085 $ 85,920 $ 181,309 $ 168,911
Voyage revenues        
Operating revenues: (Notes 3 and 4)        
Revenue from contract with customers       $ 466
[1] Included in net income (loss) is interest paid amounting to $27.0 million and $29.5 million for the six months ended June 30, 2026 and 2025, respectively.