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Fair Value of Financial Instruments and Derivatives Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of derivatives not designated as hedging instruments
Information on the location and amounts of derivative fair values in the consolidated balance sheets and derivative gains/losses in the consolidated statements of income are shown below:

Derivatives not designated as hedging instruments
 
  Asset Derivatives
Fair Values		Liability Derivatives
Fair Values
Type of
Contract		Balance sheet locationDecember 31, 2022December 31, 2023December 31, 2022December 31, 2023
Bunker FuelDerivative assets/ Current assets$343 $— $— $— 
Forward FreightDerivative assets/ Current assets755 8 — — 
Foreign CurrencyDerivative assets / Non-current assets1,156 2,669 — — 
Bunker FuelDerivative liabilities / Current liabilities— — — 292 
Forward FreightDerivative liabilities / Current liabilities— — — 234 
Foreign CurrencyDerivative liabilities / Non-current liabilities— — 307 — 
Total Derivatives$2,254 $2,677 $307 $526 
Summary of gain recognized on derivatives
 
Amount of Gain Recognized on Derivatives
Year ended December 31,
 202120222023
Forward Freight$(3,227)$7,066 $(1,681)
Foreign Currency(99)862 1,819 
Interest Rate Contracts6,474 5,327 338 
Bunker Fuel Contracts(960)(4,532)47 
Net Gain Recognized
$2,188 $8,723 $523 
Schedule of valuation of company's financial instruments The following table summarizes the valuation of the Company’s financial instruments as of December 31, 2022 and December 31, 2023.
 
Significant Other Observable Inputs
(Level 2)
December 31, 2022December 31, 2023
Derivative instruments – asset position$2,254 $2,677 
Derivative instruments – liability position307 526