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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net Income (Loss) $ 73,721 $ (30,940)
Reconciliation of Net Income to Net Cash Provided by / (Used in) Operating Activities    
Depreciation Expense 25,449 25,389
Impairment and Gain (Loss) on Vessels Disposals 0 1,146
Dry-dock Expenditures (65) (2,278)
Amortization of Deferred Finance Costs 939 2,149
Share-based Compensation 1,147 57
Other, net 45 (36)
Changes in Operating Assets and Liabilities:    
Accounts Receivables (7,061) (2,013)
Inventory 2,196 (13,181)
Prepaid Expenses and Other Current Assets 1,040 (4,808)
Accounts Payable and Accrued Liabilities (13,203) 13,147
Voyages in Progress 14,912 (2,593)
Net Cash Provided by / (Used In) Operating Activities 99,120 (13,961)
Cash Flows from Investing Activities    
Investment in Vessels (347) (134)
Investment in Vessels under Construction 0 (89,694)
Proceeds from Sale of Vessels 0 44,335
Net Cash Used In Investing Activities (347) (45,493)
Cash Flows from Financing Activities    
Proceeds from Issuance of Common Stock 0 34,841
Repayments on Borrowing Facility (21,245) (50,985)
Proceeds from Vessel Financing 0 88,000
Repayment of Vessel financing (6,998) (4,459)
Dividends Distributed (31,319) (1,945)
Net Cash Provided by / (Used in) Financing Activities (59,562) 65,452
Net Increase / (Decrease) in Cash, Cash Equivalents, and Restricted Cash 39,211 5,998
Cash, Cash Equivalents and Restricted Cash at the Beginning of Period 63,302 44,648
Effect of Exchange Rate Changes on Cash and Cash Equivalents (99) 38
Cash, Cash Equivalents, and Restricted Cash at the End of Period 102,414 50,684
Supplemental Disclosure of Cash Flow information    
Cash and Cash Equivalents 96,480 35,573
Restricted cash 5,934 15,111
Total Cash, Cash equivalents and Restricted Cash Shown in the Statement of Cash Flows 102,414 50,684
Cash Paid for Interest, Net of Amounts Capitalized $ (14,818) $ (9,565)