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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net Income (Loss) $ 98,711 $ 15,101 $ (171,328)
Reconciliation of Net Income (Loss) to Net Cash Provided by / (Used In) Operating Activities      
Depreciation Expense 51,397 50,421 68,352
Impairment Loss on Vessels 0 314 60,311
Gain on Disposal of Vessels 0 (6,005) 0
Drydock Expenditure (9,497) (8,215) (7,318)
Amortization of Deferred Finance Costs 1,447 3,589 2,989
Share-based Compensation 2,203 476 339
Other, net (150) 84 502
Changes in Operating Assets and Liabilities      
Accounts Receivables (5,813) (11,100) (3,025)
Inventory (5,753) (4,558) (1,465)
Prepaid Expenses and Other Current Assets 2,558 (2,694) 286
Accounts Payable and Accrued Liabilities (8,477) 230 11,743
Voyages in Progress 12,819 (13,509) (5,844)
Net Cash Provided by / (Used In) Operating Activities 139,445 24,134 (44,458)
Cash Flows from Investing Activities      
Investment in Vessels (73,526) (5,116) (3,868)
Investment in Other Fixed Assets (144) 0 (589)
Investment in Newbuilds 0 (90,301) (13,270)
Sale of Vessels 0 81,074 14,262
Net Cash Used In Investing Activities (73,670) (14,343) (3,465)
Cash Flows from Financing Activities      
Proceeds from Issuance of Common Stock 0 49,096 80,051
Proceeds from Vessel Financing 54,000 88,000 0
Repayment of Vessel financing (14,671) (11,476) (7,958)
Repayments on Borrowing Facility (44,549) (93,933) (30,780)
Transaction Costs Borrowing Facilities (669) 0 (1,100)
Dividends Distributed (89,783) (22,682) (9,700)
Net Cash Provided by / (Used In) Financing Activities (95,672) 9,005 30,513
Net Increase / (Decrease) in Cash, Cash Equivalents, and Restricted Cash (29,897) 18,796 (17,410)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 63,302 44,648 62,070
Effect of Exchange Rate Changes on Cash and Cash Equivalents (44) (142) (12)
Cash, Cash Equivalents, and Restricted Cash at End of Year 33,361 63,302 44,648
Supplemental Disclosure of Cash Flow information      
Cash and Cash Equivalents 31,078 59,583 34,739
Restricted Cash 2,283 3,719 9,909
Cash Paid for Taxes 23 59 64
Cash Paid for Interest, Net of Amounts Capitalized $ 29,040 $ 23,455 $ 23,392