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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]      
Revenues (including $0, $7,294 and $8,943 respectively, from related party) (Note 17 & 5) $ 82,949 $ 80,656 $ 56,367
EXPENSES:      
Voyage expenses (including $705, $1,008 and $1,037 respectively, to related party) (Note 11) 1,609 1,648 1,317
Operating lease expense (Note 6) 10,840 10,840 10,840
Vessel operating expenses (including $17, $37 and $42 respectively, to related party) (Note 11) 18,527 18,628 15,679
Dry-docking costs 0 0 361
Vessel depreciation (Note 4) 14,349 13,289 7,670
Management fees-related parties (Note 5) 2,200 2,093 2,596
General and administrative expenses (including $360, $360 and $5,360 respectively, to related party)(Note 5) 6,697 1,617 1,943
Gain on sale of vessels 0 (78) 0
Impairment of vessels 0 0 1,160
Operating income 28,727 32,619 14,801
OTHER EXPENSES:      
Interest and finance costs (including $0, $207 and $0 respectively, to related party) (Note 12) (22,989) (14,365) (6,998)
Gain on derivative financial instruments (Note 14) 0 0 66
Interest income 346 48 0
Equity gain/(loss) in unconsolidated joint ventures (18) 646 747
Total other expenses, net (22,661) (13,671) (6,185)
Net income 6,066 18,948 8,616
Comprehensive income 6,066 18,948 8,616
Less: Deemed dividend for beneficial conversion feature of Series E Shares (Note 15) 0 0 (900)
Less: Deemed dividend equivalents on preferred shares related to redemption value (Note 15) 0 (14,400) (437)
Less: Preferred shares dividend (Note 15) (6,010) (12,390) (1,883)
Less: Deemed dividend on warrant inducement (Note 9) 0 (1,345) 0
Less: Deemed dividend on Series E Shares conversion (22,426) 0 0
Net income/ (loss) attributable to common shareholders $ (22,370) $ (9,187) $ 5,396
Earnings/(Loss) per common share, basic (in dollars per share) $ (12.44) $ (36.34) $ 32.51
Earnings/(Loss) per common share, diluted (in dollars per share) $ (12.44) $ (36.34) $ 32.51