Vessel Revenues |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| Vessel Revenues [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Vessel Revenues |
12. Vessel Revenues:
The following table includes the vessel revenues earned by the Company for the six months ended June 30, 2025 and 2026, as presented
in the accompanying unaudited interim condensed consolidated statements of comprehensive income:
The Company
generates its revenues from time charters and pool arrangement for the six-month period ended June 30, 2026.
The
Company typically enters into time charters ranging from one month to twelve months, and, in isolated cases, for longer terms, depending on market conditions. The charterer has the full discretion over the ports visited, shipping routes and vessel speed,
subject to the owner’s protective restrictions set forth in the agreed charterparty’s terms. Time charter agreements may have extension options that range over certain time periods, which are usually periods of months. The time charter party
generally provides, among others, typical warranties regarding the speed and the performance of the vessel as well as owner protective restrictions such that the vessel is sent only to safe ports by the charterer, subject always to compliance
with applicable sanction laws and war risks, and carry only lawful and non-hazardous cargo.
The main objective of a pool is to enter into arrangements for the employment and operation of the pool vessels, so as to secure for the pool participants the highest commercially available earnings per vessel on the
basis of pooling the revenue and expenses of the pool vessels and dividing it between the pool participants based on the terms of the pool agreement. The Company typically enters into a pool arrangement for a minimum period of six months, subject to certain rights of suspension and/or early termination.
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