v3.26.3
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 63,699,000 $ 7,889,000
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization expense 36,224,000 30,735,000
Amortization of deferred financing costs 782,000 875,000
Amortization of prepaid rent 89,000 89,000
Unrealized (gain) loss on derivative instruments, net (4,526,000) 452,000
Income from equity method investee (2,137,000) (1,831,000)
Provision for doubtful accounts 795,000 1,174,000
Loss (gain) on sale of vessel and equipment 358,000 (309,000)
Drydocking costs (11,406,000) (13,812,000)
Share-based compensation 2,975,000 2,695,000
Change in operating assets and liabilities:    
Accounts receivable (9,215,000) (4,369,000)
Inventories (30,298,000) (3,290,000)
Advance hire, prepaid expenses and other current assets (11,301,000) (1,969,000)
Accounts payable, accrued expenses and other current liabilities 33,861,000 17,432,000
Deferred revenue 13,241,000 2,841,000
Net cash provided by operating activities 83,141,000 38,601,000
Investing activities    
Proceeds from sale of vessels and equipment 9,719,000 7,860,000
Purchase of fixed assets and equipment (5,773,000) (5,506,000)
Acquisition of non-controlling interest 0 (2,700,000)
Dividends received from equity method investments 2,350,000 3,100,000
Distributions from (Contributions to) non-consolidated subsidiaries 733,000 (842,000)
Net cash provided by investing activities 7,028,000 1,911,000
Financing activities    
Proceeds from long-term debt 812,000 0
Payments of financing fees and debt issuance costs 0 (45,000)
Payments of long-term debt (12,729,000) (12,418,000)
Proceeds from financing obligation 0 18,000,000
Payments of financing obligations (20,996,000) (19,115,000)
Payments of finance leases (1,826,000) (2,133,000)
Dividends paid to non-controlling interests 0 (2,200,000)
Cash dividends paid (13,561,000) (13,126,000)
Payments to repurchase ordinary shares 0 (1,991,000)
Net cash used in financing activities (48,299,000) (33,027,000)
Net change in cash, cash equivalents and restricted cash 41,870,000 7,485,000
Cash, cash equivalents and restricted cash at beginning of period 103,054,000  
Cash, cash equivalents and restricted cash at end of period 144,924,000 94,020,000
Supplemental Cash Flow Information [Abstract]    
Cash and cash equivalents 144,924,000 94,020,000
Restricted cash 270,000 270,000
Total cash, cash equivalents and restricted cash at end of period 145,194,000 94,290,000
Cash paid for interest 16,647,000 18,380,000
Cash received from interest rate caps 373,000 1,116,000
Capital expenditures included in accounts payable and accrued expenses $ 4,404,000 $ 1,369,000