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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUES:      
Revenues $ 343,475 $ 206,035 $ 206,682
Commissions (14,444) (7,877) (8,921)
Net revenues 329,031 198,158 197,761
EXPENSES:      
Voyage expenses (9,753) (41,582) (13,715)
Vessel operating expenses (72,049) (70,086) (68,569)
Depreciation and amortization (52,364) (54,269) (50,310)
General and administrative expenses      
Management fee to related parties (19,221) (18,884) (18,050)
Company administration expenses (3,277) (2,618) (2,589)
Early redelivery (cost)/income, net 7,470 0 (63)
Other operating expense 0 (241) (414)
Gain on sale of assets 11,579 0 0
Operating income 191,416 10,478 44,051
OTHER (EXPENSE)/INCOME:      
Interest expense (14,719) (21,233) (26,815)
Other finance cost (798) (641) (714)
Interest income 69 604 1,558
(Loss)/gain on derivatives 2,188 (1,303) (121)
Foreign currency (loss)/gain (910) 916 (76)
Amortization and write-off of deferred finance charges (2,898) (1,726) (1,845)
Net income/(loss) 174,348 (12,905) 16,038
Less preferred dividend attributable to preferred shareholders 11,064 11,500 11,498
Less Mezzanine equity measurement (271) 908 199
Net income/(loss) available to common shareholders $ 163,555 $ (25,313) $ 4,341
Earnings/(loss) per share in U.S. Dollars, basic (in USD per share) $ 1.44 $ (0.25) $ 0.04
Earnings/(loss) per share in U.S. Dollars, diluted (in USD per share) $ 1.44 $ (0.25) $ 0.04
Weighted average number of shares, basic (in shares) 113,716,354 102,617,944 101,686,312
Weighted average number of shares, diluted (in shares) 113,716,354 102,617,944 101,686,312