Note 5 - Investment in Unconsolidated Affiliates

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

(5) INVESTMENT IN UNCONSOLIDATED AFFILIATES

 Amounts due from DTDW

We own 40% of DTDW in Nigeria. Our partner, who owns 60%, is a Nigerian national. We have not operated any company owned vessels in Nigeria since early 2020.

In 2022, we entered into a netting arrangement with our partner allowing either partner to discharge their obligations by netting these amounts against sums owed by the other partner. In accordance with this agreement, we have the ability to net our due from affiliate balance against the due to affiliate balance on our consolidated balance sheet.