Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Future Minimum Lease Payments

A summary of lease payments expected to be received on fixed time charter-out contracts, net of commission, assuming no off-hire days, other than those related to scheduled interim or special surveys of the related vessel and excluding any voyage expenses associated with such contracts, as of December 31, 2022 is as follows:

Year:	Time Charter-Out Contracts
2023	$	32,715
2024	—
2025	—
2026	—
2027	—
Thereafter	—
	$	32,715

A summary of total lease payments on an undiscounted basis for operating lease liabilities, by asset type, as of December 31, 2022 is as follows:

	Time charter-in contracts greater than 12 months		Office leases		Total Operating leases
Year:
2023	$	21,651	$	869	$	22,520
2024	—		874		874
2025	—		871		871
2026	—		871		871
2027	—		574		574
Thereafter	—		500		500
	21,651		4,559		26,210
Implied interest	(323)		(669)		(992)
Total operating lease liabilities	$	21,328	$	3,890	$	25,218

Assets And Liabilities, Lease

A summary of Operating lease right-of-use assets and operating lease liabilities balances, by asset type, and certain additional quantitative information related to the Company’s operating leases as of December 31, 2022 and 2021 is as follows:

Description	December 31, 2022			December 31, 2021
Operating lease right-of-use assets
Time charter-in contracts greater than 12 months	$	19,116		$	15,039
Office leases	3,890			1,978
	$	23,006		$	17,017
Current portion of operating lease liabilities
Time charter-in contracts greater than 12 months	$	21,328		$	15,039
Office leases	717			689
	$	22,045		$	15,728
Noncurrent portion of operating lease liabilities
Time charter-in contracts greater than 12 months	$	—		$	—
Office leases	3,173			1,282
	$	3,173		$	1,282
Weighted average remaining lease term (in years)
Time charter-in contracts greater than 12 months	0.6			0.7
Office leases	4.7			4.0
Weighted average discount rate
Time charter-in contracts greater than 12 months	6.0		%	1.4		%
Office leases	6.9		%	4.1		%

Charter Hire Expense

A summary of the components of the Company’s lease expenses and sub-lease income for the years ended December 31, 2022, 2021 and 2020 is as follows:

	For the Years Ended
	December 31, 2022		December 31, 2021		December 31, 2020
Operating lease cost
Time charter-in contracts greater than twelve months	$	28,282	$	16,548	$	12,548
Office leases	748		642		734
Short-term lease cost
Time charter-in contracts less than twelve months	52,821		20,553		8,732
Total lease cost	$	81,851	$	37,743	$	22,014
Sublease income, gross
Time charter-in contracts greater than twelve months(1)	$	32,980	$	25,372	$	8,589

(1)Sublease income on time-charter-in contracts is recorded in Revenues, net in the Consolidated Statements of Operations.

A summary of cash flow information related to the Company’s leases for the years ended December 31, 2022, 2021 and 2020 is as follows:

	For the Years Ended
	December 31, 2022		December 31, 2021		December 31, 2020
Cash paid for operating leases with lease terms greater than twelve months	$	29,130	$	18,051	$	14,018
Non-cash activities
Operating lease right-of-use assets obtained in exchange for lease liabilities	$	38,956	$	22,499	$	—