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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Shipping Revenues:        
Shipping revenues $ 225,190 $ 241,708 $ 757,000 $ 821,041
Operating Expenses:        
Voyage expenses 5,503 5,756 14,537 13,434
Vessel expenses 71,269 64,596 202,490 188,516
Charter hire expenses 7,245 11,297 20,841 30,599
Depreciation and amortization 39,304 33,363 109,974 95,356
General and administrative 13,411 12,314 37,494 35,082
Other operating expenses 985   2,715  
Third-party debt modification fees 0 148 168 568
(Gain)/loss on disposal of vessels and other assets, net (13,499) 74 (41,402) (10,648)
Total operating expenses 124,218 127,548 346,817 352,907
Income from vessel operations 100,972 114,160 410,183 468,134
Other income 3,211 646 8,525 8,308
Income before interest expense and income taxes 104,183 114,806 418,708 476,442
Interest expense (12,496) (16,817) (37,808) (51,678)
Income before income taxes 91,687 97,989 380,900 424,764
Income tax benefit/(provision) 1 (52) 1 (432)
Net income 91,688 97,937 380,901 424,332
Net income/(loss) attributable to the Company $ 91,688 $ 97,937 $ 380,901 $ 424,332
Weighted Average Number of Common Shares Outstanding:        
Basic 49,544,412 48,861,356 49,302,367 49,008,901
Diluted 49,881,317 49,275,022 49,677,238 49,442,825
Per Share Amounts:        
Basic net income per share $ 1.85 $ 2.00 $ 7.72 $ 8.65
Diluted net income per share $ 1.84 $ 1.99 $ 7.66 $ 8.58
International Crude Tankers Segment [Member]        
Shipping Revenues:        
Shipping revenues $ 103,212 $ 114,250 $ 355,458 $ 398,829
Operating Expenses:        
Depreciation and amortization 20,536 20,039 60,571 56,583
(Gain)/loss on disposal of vessels and other assets, net (18)   (20) 38
International Product Carriers Segment [Member]        
Shipping Revenues:        
Shipping revenues 121,978 127,458 401,542 422,212
Operating Expenses:        
Depreciation and amortization 18,768 13,298 49,403 38,694
(Gain)/loss on disposal of vessels and other assets, net (13,481)   (41,382) (10,686)
Pool Revenue Leases [Member]        
Shipping Revenues:        
Shipping revenues 170,007 194,465 603,970 701,634
Time and Bareboat Charter Leases [Member]        
Shipping Revenues:        
Shipping revenues 36,842 27,587 99,030 66,849
Voyage Charter Leases [Member]        
Shipping Revenues:        
Shipping revenues $ 18,341 $ 19,656 $ 54,000 $ 52,558