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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net Income $ 46,643 $ 98,711 $ 15,101
Reconciliation of Net Income to Net Cash Provided by Operating Activities      
Depreciation Expense 56,151 51,397 50,421
Impairment Loss on Vessels 0 0 314
Gain on Disposal of Vessels 0 0 (6,005)
Drydock Expenditure (1,874) (9,497) (8,215)
Amortization of Deferred Finance Costs 850 1,447 3,589
Share-based Compensation 1,847 2,203 476
Other, net (590) (150) 84
Changes in Operating Assets and Liabilities      
Accounts Receivables 10,065 (5,813) (11,100)
Inventory 9,252 (5,753) (4,558)
Prepaid Expenses and Other Current Assets (2,763) 2,558 (2,694)
Accounts Payable and Accrued Liabilities 3,970 (8,477) 230
Voyages in Progress 4,607 12,819 (13,509)
Net Cash Provided by Operating Activities 128,158 139,445 24,134
Cash Flows from Investing Activities      
Investment in Vessels (870) (73,526) (5,116)
Investment in other Fixed Assets (1,750) (144) 0
Investment in Newbuilds 0 0 (90,301)
Sale of Vessels 0 0 81,074
Net Cash Used In Investing Activities (2,620) (73,670) (14,343)
Cash Flows from Financing Activities      
Proceeds from Issuance of Common Stock 8,932 0 49,096
Repurchase of Equity Awards (3,547) 0 0
Proceeds from Vessel Financing 0 54,000 88,000
Repayment of Vessel financing (20,662) (14,671) (11,476)
Repayments on Borrowing Facility (12,079) (44,549) (93,933)
Transaction Costs Borrowing Facilities 0 (669) 0
Dividends Distributed (87,695) (89,783) (22,682)
Net Cash Provided by / (Used In) Financing Activities (115,051) (95,672) 9,005
Net Increase / (Decrease) in Cash, Cash Equivalents, and Restricted Cash 10,487 (29,897) 18,796
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 33,361 63,302 44,648
Effect of Exchange Rate Changes on Cash and Cash Equivalents 536 (44) (142)
Cash, Cash Equivalents, and Restricted Cash at End of Year 44,384 33,361 63,302
Supplemental Disclosure of Cash Flow information      
Cash and Cash Equivalents 39,177 31,078 59,583
Restricted Cash 5,207 2,283 3,719
Total Cash, Cash equivalents and Restricted Cash Shown in the Statement of Cash Flows 44,384 33,361 63,302
Cash Paid for Taxes 10 23 59
Cash Paid for Interest, Net of Amounts Capitalized $ 29,890 $ 29,040 $ 23,455