| Long-term Debt and Bonds |
The amounts of long-term debt and bonds shown in the accompanying consolidated balance sheets are analyzed as follows:
| |
|
June 30, 2026
|
|
|
Current
|
|
|
Non-current
|
|
|
December 31, 2025
|
|
|
Current
|
|
|
Non-current
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nordea Bank secured term loan
|
|
$
|
10,834
|
|
|
$
|
2,032
|
|
|
$
|
8,802
|
|
|
$
|
12,500
|
|
|
$
|
3,333
|
|
|
$
|
9,167
|
|
|
Alpha Bank secured term loans
|
|
|
26,600 |
|
|
|
13,667 |
|
|
|
12,933 |
|
|
|
28,700 |
|
|
|
4,200 |
|
|
|
24,500 |
|
Huican sale and lease back financing
|
|
|
43,276 |
|
|
|
2,538 |
|
|
|
40,738 |
|
|
|
44,545 |
|
|
|
2,538 |
|
|
|
42,007 |
|
Kenzan Kaiun sale and lease back financing
|
|
|
41,647 |
|
|
|
2,603 |
|
|
|
39,044 |
|
|
|
42,938 |
|
|
|
2,603 |
|
|
|
40,335 |
|
|
Kowa Kaiun sale and lease back financing
|
|
|
43,760
|
|
|
|
2,500
|
|
|
|
41,260
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
less unamortized deferred financing costs
|
|
|
(1,891 |
) |
|
|
(416 |
) |
|
|
(1,475 |
) |
|
|
(1,493 |
) |
|
|
(283 |
) |
|
|
(1,210 |
) |
|
Total debt, net of deferred financing costs
|
|
$
|
164,226
|
|
|
$
|
22,924
|
|
|
$
|
141,302
|
|
|
$
|
127,190
|
|
|
$
|
12,391
|
|
|
$
|
114,799
|
|
| |
|
June 30, 2026
|
|
|
Current
|
|
|
Non-current
|
|
|
December 31, 2025
|
|
|
Current
|
|
|
Non-current
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonds
|
|
$
|
150,000
|
|
|
$
|
-
|
|
|
$
|
150,000
|
|
|
$
|
100,000
|
|
|
$
|
-
|
|
|
$
|
100,000
|
|
|
less unamortized premiums and discounts
|
|
|
(1,054 |
) |
|
|
- |
|
|
|
(1,054 |
) |
|
|
(3,000 |
) |
|
|
- |
|
|
|
(3,000 |
) |
|
less unamortized deferred financing costs
|
|
|
(3,138
|
)
|
|
|
-
|
|
|
|
(3,138
|
)
|
|
|
(1,858
|
)
|
|
|
-
|
|
|
|
(1,858
|
)
|
|
Total bonds, net of unamortized premiums, discounts and deferred financing costs
|
|
$
|
145,808
|
|
|
$
|
-
|
|
|
$
|
145,808
|
|
|
$
|
95,142
|
|
|
$
|
-
|
|
|
$
|
95,142
|
|
|
| Maturities of Debt Facilities |
As at June 30, 2026, the maturities of the drawn portions of the debt facilities (bank loans, sale and lease back financing and the bond financing), as described
above, are as follows:
| |
|
Principal Repayment
|
|
|
Year 1
|
|
$ |
25,073
|
|
|
Year 2
|
|
|
12,456
|
|
|
Year 3
|
|
|
12,450
|
|
Year 4
|
|
|
162,450 |
|
Year 5 and thereafter
|
|
|
103,688 |
|
|
Total
|
|
$
|
316,117
|
|
|