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Consolidated Income Statements - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Voyage revenues (Note 17) $ 1,042,499 $ 1,265,458 $ 949,269
Expenses/(Income):      
Voyage expenses (Notes 4 and 18) 215,015 266,225 253,843
Charter-in hire expenses (Note 7) 63,466 58,003 17,656
Vessel operating expenses (Note 18) 269,163 274,991 221,327
Dry docking expenses 92,201 62,728 41,969
Depreciation (Note 6) 168,277 164,055 138,429
Management fees (Notes 3 and 11) 23,180 18,956 16,809
General and administrative expenses (Note 3) 70,542 70,778 54,413
Impairment loss 0 1,800 17,838
Loss on write-down of inventory 0 6,286 9,318
Other operational loss 5,421 2,326 952
Other operational gain (Note 20) (15,005) (4,740) (33,980)
Loss on bad debt 0 308 300
(Gain)/Loss on forward freight agreements and bunker swaps, net (Note 19) (4,944) 4,033 1,336
(Gain)/Loss on sale of vessels (Note 6) 18,313 (43,287) (29,399)
Total operating expenses, net 905,629 882,462 710,811
Operating income 136,870 382,996 238,458
Other Income/ (Expenses):      
Interest and finance costs (Note 9) (71,225) (91,827) (71,319)
Interest income and other income/(loss) 18,887 16,378 15,228
Gain/(Loss) on derivative financial instruments, net (Note 19) 980 (1,861) (3,539)
Gain/ (Loss) on debt extinguishment, net (Notes 9 and 19) (431) (1,144) (5,149)
Total other expenses, net (51,789) (78,454) (64,779)
Income before taxes and equity in income/ (loss) of investee 85,081 304,542 173,679
Income tax (expense) / refund (Note 15) 0 116 (183)
Income before equity in income/(loss) of investee 85,081 304,658 173,496
Equity in income/(loss) of investee (Note 4) (907) (4) 60
Net income $ 84,174 $ 304,654 $ 173,556
Earnings per share, basic $ 0.73 $ 2.85 $ 1.76
Earnings per share, diluted $ 0.73 $ 2.80 $ 1.75
Weighted average number of shares outstanding, basic (Note 13) 115,002,721 106,883,330 98,457,929
Weighted average number of shares outstanding, diluted(Note 13) 115,420,379 108,702,988 98,928,011