XML 116 R78.htm IDEA: XBRL DOCUMENT v3.24.1
Borrowings - Credit Facilities (Narrative I) (Details Narrative)
$ in Thousands
1 Months Ended 2 Months Ended 4 Months Ended 6 Months Ended 8 Months Ended 9 Months Ended 11 Months Ended 12 Months Ended
Jan. 09, 2023
USD ($)
Jan. 31, 2023
USD ($)
Jan. 23, 2023
USD ($)
Feb. 16, 2023
USD ($)
May 03, 2023
USD ($)
May 02, 2023
Apr. 25, 2023
USD ($)
Apr. 21, 2023
USD ($)
Apr. 19, 2023
May 11, 2022
USD ($)
May 08, 2019
USD ($)
Jun. 16, 2023
USD ($)
Jun. 30, 2022
USD ($)
Sep. 09, 2022
USD ($)
Aug. 20, 2021
USD ($)
Oct. 10, 2019
USD ($)
Dec. 15, 2023
USD ($)
Nov. 30, 2023
USD ($)
Nov. 30, 2022
USD ($)
Dec. 15, 2021
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 28, 2018
Debt Instrument [Line Items]                                              
Long-Term Debt                                         $ 1,393,049 $ 1,556,440  
Long-Term Line of Credit                                         908,288 $ 874,038  
Total Borrowings [Member]                                              
Debt Instrument [Line Items]                                              
Long-Term Debt                                         $ 1,861,463    
NIBC Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         Dec. 28, 2018    
Line of Credit Facility, Maximum Borrowing Capacity                                         $ 28,500    
Number of loan tranches                                             3
Long-Term Debt, Description                                         to refinance three Ultra-Handymax vessels, previously included in the Term Loan B collateral package    
Number of vessels released as collateral                                         1    
Description of collateral                                         one other Handymax vessel    
Prepayments of debt     $ 4,214                 $ 10,380                      
NIBC Credit Facility [Member] | First Tranche [Member]                                              
Debt Instrument [Line Items]                                              
Proceeds from Lines of Credit                     $ 11,915                        
NIBC Credit Facility [Member] | Two Remaining Tranches [Member]                                              
Debt Instrument [Line Items]                                              
Proceeds from Lines of Credit                               $ 13,475              
Skandinaviska Enskilda $55 million Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         Jun. 29, 2022    
Long-Term Debt, Description                                         to refinance the existing indebtedness of four of its vessels and for general corporate purposes    
Proceeds from Lines of Credit                         $ 55,000                    
Long-Term Line of Credit                                         $ 43,240    
Maturity date                                         second quarter of 2027    
Debt Instrument, Description of Variable Rate Basis                                         Compounded SOFR    
Debt Instrument, Basis Spread on Variable Rate                                         2.25%    
Skandinaviska Enskilda $65 million Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Long-Term Debt, Description                 to refinance the existing indebtedness of five of its tanker vessels and for general corporate purposes                            
Proceeds from Lines of Credit               $ 65,000                              
Long-Term Line of Credit                                         $ 61,100    
Maturity date                 second quarter of 2028                            
Debt Instrument, Description of Variable Rate Basis                 Compounded SOFR                            
Debt Instrument, Basis Spread on Variable Rate                 2.00%                            
Hellenic Bank Credit Facility $25,235 [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         May 09, 2022    
Long-Term Debt, Description                                         to refinance the existing indebtedness of five of its vessels and for working capital purposes    
Proceeds from Lines of Credit                   $ 25,235                          
Prepayments of debt   $ 3,700                                          
Long-Term Line of Credit                                         $ 15,505    
Maturity date                                         second quarter of 2027    
Debt Instrument, Description of Variable Rate Basis                                         SOFR    
Debt Instrument, Basis Spread on Variable Rate                                         2.50%    
HCOB $210m Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         Sep. 05, 2022    
Long-Term Debt, Description                                         to refinance the existing indebtness of 20 of its vessels and for working capital purposes    
Proceeds from Lines of Credit                           $ 210,000                  
Prepayments of debt   $ 8,885                                 $ 10,239   $ 5,297    
Long-Term Line of Credit                                         $ 144,201    
Maturity date                                         second quarter of 2025    
Debt Instrument, Description of Variable Rate Basis                                         Compounded SOFR    
Debt Instrument, Basis Spread on Variable Rate                                         2.50%    
First-Citizens Bank & Trust Company [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         Dec. 21, 2022    
Proceeds from Lines of Credit $ 44,200                                            
Long-Term Line of Credit                                         $ 39,700    
Maturity date                                         first quarter of 2028    
Debt Instrument, Description of Variable Rate Basis                                         Term SOFR    
Debt Instrument, Basis Spread on Variable Rate                                         1.95%    
Description of scope, credit facility                                         to refinance the existing indebtedness of three of its tanker vessels and for general corporate purposes    
DNB $18m Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         Aug. 19, 2021    
Long-Term Debt, Description                                         to finance part of the acquisition cost of the Navios Azimuth    
Proceeds from Lines of Credit                             $ 18,000                
Long-Term Line of Credit                                         $ 12,240    
Maturity date                                         third quarter of 2026    
Debt Instrument, Description of Variable Rate Basis                                         Compounded SOFR plus a credit adjustment spread plus a margin (ranging from 280 bps to 290 bps per annum depending on the emission efficiency ratio of the vessels as defined in the loan agreement)    
DNB $72.71m Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         Dec. 13, 2021    
Long-Term Debt, Description                                         for the refinancing of the existing credit facilities of three tanker vessels and two dry bulk vessels    
Proceeds from Lines of Credit                                       $ 72,710      
Prepayments of debt                                 $ 37,075            
Long-Term Line of Credit                                         $ 19,070    
Maturity date                                         fourth quarter of 2026    
Debt Instrument, Description of Variable Rate Basis                                         Compounded SOFR plus a credit adjustment spread plus a margin (ranging from 270 bps to 280 bps per annum depending on the emission efficiency ratio of the vessels as defined in the loan agreement)    
DNB (UK) and Export-Import Bank of China $161,600 million Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Maximum Borrowing Capacity       $ 161,600                                      
Maturity date       ten years after drawdown                                      
Debt Instrument, Description of Variable Rate Basis       Compounded SOFR                                      
Debt Instrument, Basis Spread on Variable Rate       1.70%                                      
Description of scope, credit facility       to finance part of the contract price of four newbuilding containerships, currently under construction                                      
Line of Credit Facility, Remaining Borrowing Capacity                                         $ 161,600    
KFW $165,638 million Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Initiation Date                                         Sep. 30, 2022    
Line of Credit Facility, Maximum Borrowing Capacity                                         $ 86,240    
Long-Term Debt, Description                                         to finance part of the acquisition cost of two newbuilding containerships    
Proceeds from Lines of Credit                                   $ 43,120          
Long-Term Line of Credit                                         $ 43,120    
Maturity date                                         seven years after the drawdown date    
Debt Instrument, Description of Variable Rate Basis                                         Compounded SOFR    
Debt Instrument, Basis Spread on Variable Rate                                         2.00%    
Line of Credit Facility, Remaining Borrowing Capacity                                         $ 43,120    
KFW $165,638 million Credit Facility [Member]                                              
Debt Instrument [Line Items]                                              
Line of Credit Facility, Maximum Borrowing Capacity             $ 165,638                                
Proceeds from Lines of Credit                                         84,781    
Long-Term Line of Credit                                         84,781    
Maturity date             12 years                                
Debt Instrument, Description of Variable Rate Basis             Compounded SOFR                                
Debt Instrument, Basis Spread on Variable Rate             1.50%                                
Description of scope, credit facility             to finance the acquisition cost of two newbuilding 7,700 TEU containerships, currently under construction                                
Line of Credit Facility, Remaining Borrowing Capacity                                         80,857    
Eurobank S.A. [Member]                                              
Debt Instrument [Line Items]                                              
Proceeds from Lines of Credit         $ 30,000                                    
Long-Term Line of Credit                                         $ 28,200    
Maturity date           second quarter of 2028                                  
Debt Instrument, Description of Variable Rate Basis           SOFR                                  
Description of scope, credit facility           to refinance the existing indebtedness of three of its tanker vessels and for general corporate purposes                                  
Eurobank S.A. [Member] | Any part of the loan (up to 70%) [Member]                                              
Debt Instrument [Line Items]                                              
Debt Instrument, Basis Spread on Variable Rate           1.00%                                  
Eurobank S.A. [Member] | Remaining amount [Member]                                              
Debt Instrument [Line Items]                                              
Debt Instrument, Basis Spread on Variable Rate           2.25%