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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES:      
Revenues $ 364,050 $ 343,475 $ 206,035
Commissions (14,332) (14,444) (7,877)
Net revenues 349,718 329,031 198,158
EXPENSES:      
Voyage expenses (9,969) (9,753) (41,582)
Vessel operating expenses (80,211) (72,049) (70,086)
Depreciation and amortization (49,518) (52,364) (54,269)
General and administrative expenses      
Management fee to related parties (17,723) (19,221) (18,884)
Company administration expenses (4,079) (3,277) (2,618)
Early redelivery income, net 0 7,470 0
Other operating expense (3,570) 0 (241)
Gain on sale of assets 0 11,579 0
Operating income 184,648 191,416 10,478
OTHER (EXPENSE)/INCOME:      
Interest expense (17,138) (14,719) (21,233)
Other finance cost (1,353) (798) (641)
Interest income 783 69 604
(Loss)/gain on derivatives 8,723 2,188 (1,303)
Foreign currency gain/(loss) (1,101) (910) 916
Amortization and write-off of deferred finance charges (2,008) (2,898) (1,726)
Net (loss)/income 172,554 174,348 (12,905)
Less preferred dividend attributable to preferred shareholders 8,978 11,064 11,500
Less/(plus) mezzanine equity measurement 0 (271) 908
Net (loss)/income available to common shareholders $ 163,576 $ 163,555 $ (25,313)
Earnings/(loss) per share in U.S. Dollars, basic (in USD per share) $ 1.36 $ 1.44 $ (0.25)
Earnings/(loss) per share in U.S. Dollars, diluted (in USD per share) $ 1.36 $ 1.44 $ (0.25)
Weighted average number of shares, basic (in shares) 120,653,507 113,716,354 102,617,944
Weighted average number of shares, diluted (in shares) 120,653,507 113,716,354 102,617,944