|
The table below presents information about the Company’s reportable segments for the six months ended June 30, 2026. The accounting policies followed in the
preparation of the reportable segments are the same as those followed in the preparation of the Company’s unaudited interim condensed consolidated financial statements. Segment results are evaluated based on income from operations.
| |
|
Six months ended June 30, 2026
|
|
| |
|
Tanker
Segment
|
|
|
Megayacht
Segment
|
|
|
Total
|
|
|
REVENUES:
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
23,267
|
|
|
|
2,208
|
|
|
|
25,475
|
|
|
EXPENSES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Voyage expenses
|
|
|
466
|
|
|
|
431
|
|
|
|
897
|
|
|
Other vessel operating expenses
|
|
|
5,354
|
|
|
|
654
|
|
|
|
6,008
|
|
|
Dry-docking costs
|
|
|
- |
|
|
|
330 |
|
|
|
330 |
|
|
Vessel depreciation
|
|
|
4,574
|
|
|
|
477
|
|
|
|
5,051
|
|
|
Management fees-related parties-direct
|
|
|
498
|
|
|
|
125
|
|
|
|
623
|
|
|
Segments operating results
|
|
|
12,375
|
|
|
|
191
|
|
|
|
12,566
|
|
|
General and administrative expenses
|
|
|
|
|
|
|
|
|
|
|
(769
|
)
|
|
Interest and finance costs
|
|
|
|
|
|
|
|
|
|
|
(5,739
|
)
|
|
Interest income
|
|
|
|
|
|
|
|
|
|
|
74
|
|
|
Management fees-related parties- overhead costs
|
|
|
|
|
|
|
|
|
|
|
(180 |
) |
|
Equity gains in unconsolidated joint ventures
|
|
|
|
|
|
|
|
|
|
|
532
|
|
|
Net income
|
|
|
|
|
|
|
|
|
|
|
6,484
|
|
A reconciliation of total segment assets to total assets presented in the accompanying unaudited interim condensed consolidated balance sheets as of June 30, 2026 is
as follows:
| |
|
As of
June 30, 2026
|
|
|
Tanker segment
|
|
|
303,433
|
|
|
Megayacht segment
|
|
|
25,650
|
|
|
Cash and cash equivalents including restricted cash
|
|
|
13,297
|
|
|
Investments in unconsolidated joint ventures
|
|
|
7,114
|
|
|
Other fixed assets, net
|
|
|
505
|
|
| Advances for asset acquisition to related party |
|
|
23,500 |
|
|
Total consolidated assets
|
|
|
373,499
|
|
|