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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]      
Revenues (including $7,294, $8,943 and $8,967 respectively, from related party) (Note 17 & 5) $ 86,127 $ 82,949 $ 80,656
EXPENSES:      
Voyage expenses (including $1,008, $1,037 and $1,040 respectively, to related party) (Note 11) 2,008 1,609 1,648
Operating lease expense (Note 6) 10,869 10,840 10,840
Vessel operating expenses (including $37, $42 and $46 respectively, to related party) (Note 11) 19,086 18,527 18,628
Dry-docking costs 3,152 0 0
Vessel depreciation (Note 4) 13,336 14,349 13,289
Management fees-related parties (Note 5) 2,266 2,200 2,093
General and administrative expenses (including $360, $5,360 and $6,360 respectively, to related party) (Note 5) 7,506 6,697 1,617
Gain on sale of vessels 0 0 (78)
Operating income 27,904 28,727 32,619
OTHER EXPENSES:      
Interest and finance costs (including $207, $- and $- respectively, to related party) (Note 12) (23,496) (22,989) (14,365)
Interest income 467 346 48
Equity gain/(loss) in unconsolidated joint ventures 159 (18) 646
Total other expenses, net (22,870) (22,661) (13,671)
Net income 5,034 6,066 18,948
Comprehensive income 5,034 6,066 18,948
Less: Deemed dividend equivalents on preferred shares related to redemption value (Note 15) 0 0 (14,400)
Less: Preferred shares dividend (Note 15) 0 (6,010) (12,390)
Less: Deemed dividend on warrant inducement (Note 9) 0 0 (1,345)
Less: Deemed dividend on Series E Shares conversion 0 (22,426) 0
Net (loss)/income attributable to common shareholders $ 5,034 $ (22,370) $ (9,187)
(Loss)/Earnings per common share, basic (Note 10) (in dollars per share) $ 1.09 $ (12.44) $ (36.34)
(Loss)/Earnings per common share, diluted (Note 10) (in dollars per share) $ 1.09 $ (12.44) $ (36.34)