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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES:      
Revenues $ 320,679 $ 295,393 $ 364,050
Commissions (13,046) (10,992) (14,332)
Net revenues 307,633 284,401 349,718
EXPENSES:      
Voyage expenses (16,728) (21,666) (9,969)
Vessel operating expenses (92,601) (89,201) (80,211)
Depreciation and amortization (58,135) (54,129) (49,518)
General and administrative expenses      
- Company administration expenses (5,678) (4,564) (4,079)
Other operating expense (1,262) (1,869) (3,570)
Gain on sale of assets 16,555 10,375 0
Operating income 128,427 104,148 184,648
OTHER (EXPENSE)/INCOME:      
Interest expense (31,375) (24,707) (17,138)
Other finance cost (618) (756) (1,353)
Interest income 3,396 2,497 783
Gain/(loss) on derivatives (3,670) 523 8,723
Foreign currency (loss)/gain 4,172 (1,873) (1,101)
Amortization and write-off of deferred finance charges (2,956) (2,481) (2,008)
Net income 97,376 77,351 172,554
Less preferred dividend attributable to preferred shareholders 8,000 8,000 8,978
Net income available to common shareholders $ 89,376 $ 69,351 $ 163,576
Earnings/(loss) per share, basic (in USD per share) $ 0.83 $ 0.61 $ 1.36
Earnings/(loss) per share, diluted (in USD per share) $ 0.83 $ 0.61 $ 1.36
Weighted average number of shares, basic (in shares) 107,576,009 113,619,092 120,653,507
Weighted average number of shares, diluted (in shares) 107,576,009 113,619,092 120,653,507
Related party      
General and administrative expenses      
- Management fee to related parties $ (21,357) $ (19,199) $ (17,723)