REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

REVENUE [Abstract]

Schedule of Disaggregated Revenue

The following table presents the Company’s revenues from leases accounted for under ASC 842 and revenues from services accounted for under ASC 606 for the three years ended December 31, 2025:

	Crude		Product
(Dollars in thousands)	Tankers		Carriers		Totals
2025
Revenues from leases
Pool revenues	$	321,595	$	320,190	$	641,785
Time and bareboat charter revenues		81,203		76,377		157,580
Voyage charter revenues from non-variable lease payments		337		7,124		7,461
Revenues from services
Voyage charter revenues from lightering services		36,476		—		36,476
Total shipping revenues	$	439,611	$	403,691	$	843,302
2024
Revenues from leases
Pool revenues	$	314,018	$	435,146	$	749,164
Time and bareboat charter revenues		77,420		59,699		137,119
Voyage charter revenues from non-variable lease payments		4,983		5,417		10,400
Revenues from services
Voyage charter revenues from lightering services		54,930		—		54,930
Total shipping revenues	$	451,351	$	500,262	$	951,613
2023
Revenues from leases
Pool revenues	$	399,904	$	505,904	$	905,808
Time and bareboat charter revenues		67,883		28,661		96,544
Voyage charter revenues from non-variable lease payments		7,860		12,688		20,548
Voyage charter revenues from variable lease payments		66		516		582
Revenues from services
Voyage charter revenues from lightering services		48,293		—		48,293
Total shipping revenues	$	524,006	$	547,769	$	1,071,775

Schedule of Contract Related Receivables, Assets and Liabilities with Customers

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers, and significant changes in contract assets and liabilities balances, associated with revenue from services accounted for under ASC 606. Balances related to revenues from leases accounted for under ASC 842 are excluded from the table below.

(Dollars in thousands)	Voyage receivables - Billed receivables		Contract assets (Unbilled voyage receivables)		Contract liabilities (Deferred revenues and off hires)
Opening balance as of January 1, 2025	$	4,086	$	258	$	—
Closing balance as of December 31, 2025		2,622		—		—

Schedule of components of the non-cash revenues and expenses recognized for EUAs earned and incurred

The following table presents the components of the non-cash revenues and expenses recognized for EUAs earned and incurred during the two years ended December 31, 2025:

(Dollars in thousands)		2025		2024
Pool revenues	$	8,440	$	3,493
Time charter revenues		2,372		1,497
Total shipping revenues	$	10,812	$	4,990
Voyage expenses	$	10,812	$	4,990