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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES:      
Revenues $ 295,393 $ 364,050 $ 343,475
Commissions (10,992) (14,332) (14,444)
Net revenues 284,401 349,718 329,031
EXPENSES:      
Voyage expenses (21,666) (9,969) (9,753)
Vessel operating expenses (89,201) (80,211) (72,049)
Depreciation and amortization (54,129) (49,518) (52,364)
General and administrative expenses      
Company administration expenses (4,564) (4,079) (3,277)
Early redelivery income, net 0 0 7,470
Other operating expense (1,869) (3,570) 0
Gain on sale of assets 10,375 0 11,579
Operating income 104,148 184,648 191,416
OTHER (EXPENSE)/INCOME:      
Interest expense (24,707) (17,138) (14,719)
Other finance cost (756) (1,353) (798)
Interest income 2,497 783 69
Gain on derivatives 523 8,723 2,188
Foreign currency loss (1,873) (1,101) (910)
Amortization and write-off of deferred finance charges (2,481) (2,008) (2,898)
Net income 77,351 172,554 174,348
Less preferred dividend attributable to preferred shareholders 8,000 8,978 11,064
Plus mezzanine equity measurement 0 0 (271)
Net income available to common shareholders $ 69,351 $ 163,576 $ 163,555
Earnings/(loss) per share, basic (in USD per share) $ 0.61 $ 1.36 $ 1.44
Earnings/(loss) per share, diluted (in USD per share) $ 0.61 $ 1.36 $ 1.44
Weighted average number of shares, basic (in shares) 113,619,092 120,653,507 113,716,354
Weighted average number of shares, diluted (in shares) 113,619,092 120,653,507 113,716,354
Related party      
General and administrative expenses      
Management fee to related parties $ (19,199) $ (17,723) $ (19,221)