Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

(a) Capital expenditure commitments relating to our vessels and vessels under construction are as follows:


Year Ended December 31,	Due to Shipyards/Sellers		Due to Manager		Other Commitments		Total
2024	$	79,984	$	1,834	$	481	$	82,299
2025	50,657		1,544		—		52,201
2026	58,844		1,930		—		60,774
2027	27,098		725		—		27,823
Total	$	216,583	$	6,033	$	481	$	223,097

Other commitments represent contracted costs related to the purchase of a Scrubber to be installed on a fleet vessel.

(b) Other contingent liabilities

The Company and its Subsidiaries have not been involved in any legal proceedings that may have, or have had, a significant effect on their business, financial position, results of operations or liquidity, nor is the Company aware of any proceedings that are pending or threatened that may have a significant effect on its business, financial position, results of operations or liquidity. From time to time various claims, suits and complaints, including those involving government

regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, shipyards, insurance providers and other claims relating to the operation of the Company’s vessels. Management is not aware of any material claims or contingent liabilities which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements.

The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Management is not aware of any such claims or contingent liabilities which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements. A maximum of $1,000,000 of the liabilities associated with the individual vessel actions, mainly for sea pollution, is covered by P&I Club insurance.