7Baggers
Quarterly
Annual
    Unit: USD2023-12-31 2023-06-30 2022-12-31 2022-06-30 2021-12-31 2021-06-30 2020-12-31 2020-06-30 2019-12-31 2019-06-30 2018-12-31 2018-06-30 2017-12-31 2017-06-30 2016-12-31 2016-06-30 2015-12-31 2014-12-31 2014-06-30 2014-05-31 2013-12-31 2012-12-31 2010-12-31 2010-06-30 2010-03-31 2010-02-28 2009-12-31 2009-11-30 2009-06-30 2009-03-31 2008-12-31 2008-11-30 2008-06-30 2008-03-31 2007-11-30 2007-06-30 2007-04-18 
      
    		                                     
      assets
    		                                     
      current assets
    		                                     
      cash and cash equivalents
    		116,382,000 103,897,000 134,784,000 163,981,000 197,032,000 154,655,000 153,093,000 70,335,000 88,931,000 97,937,000 305,352,000 249,970,000 309,029,000 122,699,000 212,942,000 210,773,000 102,617,000 42,221,000 18,130,000 106,147,000 98,250,000 79,259,000 56,771,000 9,960,000 8,594,000 21,053,000 7,964,000 1,607,000 36,691,000 80,171,000 77,998,000 74,660,000 87,498,000 87,908,000 4,856,000 8,358,000 82,143,000 
      restricted cash
    		2,254,000 3,426,000 3,289,000 4,340,000 12,985,000 20,162,000 22,009,000 33,747,000 15,449,000 19,612,000 20,272,000 15,535,000 8,110,000 4,361,000 315,000 15,779,000 351,000 18,923,000 15,000,000  15,000,000 15,000,000 15,000,000 15,000,000 10,000,000 15,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 
      marketable securities
    		 2,635,000 2,187,000 1,336,000 1,684,000 4,056,000 3,684,000 3,329,000 13,861,000 10,009,000 12,033,000 15,449,000 16,300,000 9,172,000 6,524,000 3,604,000 14,615,000                     
      trade accounts receivable
    		29,809,000 30,538,000 14,950,000 28,144,000 28,838,000 50,891,000 22,704,000 21,503,000 45,635,000 30,439,000 27,650,000 18,874,000 23,363,000 14,389,000 14,755,000 8,802,000 9,631,000 2,770,000 6,468,000  3,298,000 2,102,000               4,843,000 
      other current assets
    		47,812,000 40,371,000 54,430,000 81,161,000 35,158,000 39,035,000 29,351,000 33,154,000 31,498,000 29,471,000 26,667,000 29,983,000           6,157,000 11,296,000 12,260,000 8,249,000 11,363,000 6,441,000 4,398,000 6,405,000 4,888,000 8,783,000 10,749,000 9,352,000 8,793,000 8,414,000  
      related party receivables
    		3,734,000 3,578,000 2,334,000 2,752,000 8,615,000 2,565,000 3,000 2,062,000 5,180,000 6,344,000 3,990,000 6,104,000 1,990,000 3,470,000 1,927,000 2,099,000 8,451,000 449,000                    
      derivative instruments receivable
    		12,480,000 13,738,000 20,861,000 172,000  1,394,000  1,227,000  2,780,000  11,811,000  1,086,000  826,000 1,641,000                     
      favorable charter party contracts
    		796,000 562,000    1,906,000 4,073,000 7,259,000 12,148,000 16,500,000 18,732,000 18,732,000 18,732,000 19,741,000 22,413,000 26,946,000 28,829,000                     
      inventories
    		40,887,000 51,682,000 45,434,000 47,880,000 43,383,000 48,817,000 25,165,000 27,037,000 28,235,000 39,288,000 28,154,000 33,518,000 20,142,000 26,017,000 17,953,000 21,925,000 15,156,000 13,243,000 7,138,000 8,513,000 1,729,000 1,181,000               3,923,000 
      prepaid expenses
    		6,771,000 9,121,000 12,503,000 11,407,000 8,440,000 13,333,000 10,440,000 6,752,000 6,335,000 8,061,000 6,127,000                           
      voyages in progress
    		17,992,000 13,229,000 16,974,000 13,932,000 30,576,000 28,348,000 13,435,000 11,280,000 21,929,000 5,170,000 2,808,000 3,155,000 9,062,000 9,027,000 3,998,000 5,218,000 1,690,000 1,322,000    931,000                
      total current assets
    		278,917,000 272,777,000 299,147,000 355,105,000 369,390,000 365,162,000 284,529,000 217,685,000 273,077,000 265,611,000 461,234,000 413,561,000 444,500,000 235,024,000 299,932,000 316,111,000 203,660,000 64,279,000 34,377,000 251,306,000 104,741,000 85,849,000               107,353,000 
      vessels and equipment
    		2,987,360,000 2,952,894,000 2,665,785,000 2,744,961,000 2,880,321,000 2,964,677,000 2,267,686,000 2,324,419,000 2,340,753,000 2,365,773,000 2,406,456,000 2,452,707,000 2,215,003,000 2,243,448,000 1,758,939,000 1,764,813,000 1,488,205,000   698,258,000                  
      vessels held for sale
    		14,486,000  12,542,000 39,884,000   9,504,000     14,357,000                          
      newbuildings
    		54,777,000 62,397,000 91,898,000 49,830,000 35,678,000        105,727,000 126,506,000 180,562,000 193,784,000 338,614,000 323,340,000 99,047,000  26,706,000       66,884,000 117,376,000 51,633,000 51,305,000 50,725,000 34,224,000 33,935,000 32,953,000 32,423,000 33,459,000 
      finance leases, right of use assets
    		68,643,000 76,177,000 83,589,000 91,123,000 98,535,000 106,069,000 113,480,000 121,015,000 193,987,000 721,000                            
      operating leases, right of use assets
    		9,538,000 12,988,000 15,646,000 25,652,000 19,965,000 19,550,000 22,739,000 25,981,000 54,853,000 196,827,000                            
      investments in associated companies
    		58,536,000 58,399,000 65,400,000 60,504,000 41,343,000 19,932,000 16,399,000 18,469,000 21,483,000 1,686,000 1,658,000 1,470,000 2,287,000 5,211,000 4,224,000  6,225,000                     
      other long-term assets
    		416,000 6,070,000 1,586,000 994,000 2,758,000                                 
      total assets
    		3,489,018,000 3,464,281,000 3,257,291,000 3,387,705,000 3,454,177,000 3,482,676,000 2,721,067,000 2,715,978,000 2,966,057,000 2,903,587,000 2,951,354,000 2,977,526,000 2,870,058,000 2,730,072,000 2,361,623,000 2,409,487,000 2,178,667,000 1,262,740,000 680,268,000 1,079,424,000 409,858,000 397,420,000 541,953,000 372,783,000 371,951,000 448,651,000 374,946,000 352,439,000 349,124,000 332,305,000 331,685,000 335,133,000 336,897,000 339,085,000 312,095,000 319,012,000 342,166,000 
      liabilities and equity
    		                                     
      current liabilities
    		                                     
      current portion of long-term debt
    		109,309,000 106,372,000 92,865,000 96,070,000 105,864,000 85,062,000 87,831,000 379,312,000 87,787,000 233,668,000 471,764,000 231,462,000 109,671,000    20,380,000 19,812,000 2,604,000   4,700,000   13,960,000       8,960,000      
      current portion of finance lease obligations - related party
    		19,601,000 19,007,000 18,387,000 18,517,000 21,755,000                                 
      current portion of operating lease obligations
    		2,632,000 4,900,000 5,546,000 11,695,000 13,860,000 16,173,000 16,783,000 14,698,000 14,377,000 22,585,000                            
      derivative instruments payables
    		172,000  1,313,000  10,364,000  27,692,000  10,455,000  1,294,000  2,293,000  1,990,000                       
      unfavorable charter party contracts
    		2,496,000 2,497,000    1,056,000                                
      related party payables
    		9,157,000 11,761,000 9,492,000 26,646,000 13,934,000 37,681,000 4,865,000 2,066,000 3,970,000 696,000  39,000 2,730,000 906,000 1,387,000 1,596,000 4,101,000 2,555,000                    
      trade accounts payable
    		9,524,000                 4,937,000 1,773,000  1,430,000 1,277,000               620,000 
      accrued expenses
    		46,041,000 48,074,000 43,388,000 35,198,000 38,569,000 41,105,000 34,550,000 32,944,000 44,739,000 33,846,000 26,643,000 30,565,000 24,304,000 20,563,000 17,867,000 14,354,000 17,878,000 4,190,000 7,981,000  2,364,000 2,501,000               5,861,000 
      other current liabilities
    		27,259,000 38,668,000 33,494,000 36,655,000 37,265,000 46,632,000 28,077,000 25,775,000 42,135,000 30,826,000 28,398,000 30,427,000 32,089,000 19,835,000 14,617,000 19,510,000 13,993,000      8,712,000 7,862,000 10,137,000 10,650,000 14,756,000 12,195,000 22,944,000 6,982,000 6,340,000 6,762,000 4,759,000 6,048,000 8,223,000 9,683,000 2,409,000 
      total current liabilities
    		226,191,000 243,333,000 211,628,000 230,225,000 248,073,000 304,249,000 241,675,000 529,611,000 233,367,000 351,274,000 541,500,000 309,967,000 181,727,000 56,942,000 43,601,000 77,158,000 80,034,000 34,779,000 14,858,000 153,896,000 7,417,000 11,498,000               17,850,000 
      long-term liabilities
    		                                     
      long-term debt
    		1,260,758,000 1,252,669,000 1,027,991,000 1,101,399,000 1,156,481,000 858,307,000 957,652,000 708,423,000 1,026,083,000 914,012,000 877,278,000 1,152,146,000 1,134,788,000 1,287,498,000 1,058,418,000 1,052,815,000 913,913,000 343,688,000 122,396,000  95,000,000 106,978,000 153,740,000 105,900,000 103,030,000 129,640,000 106,520,000 81,260,000 56,000,000        103,040,000 
      non-current portion of finance lease obligations - related party
    		67,987,000 77,816,000 87,588,000 96,823,000 105,975,000                                 
      non-current portion of operating lease obligations
    		9,621,000 10,907,000 13,051,000 21,150,000 14,907,000 18,400,000 25,254,000 34,433,000 42,010,000 165,084,000                            
      other long-term liabilities
    		2,570,000 3,825,000                                    
      total liabilities
    		1,567,127,000 1,588,550,000 1,340,258,000 1,449,597,000 1,525,436,000 1,682,838,000 1,352,311,000 1,412,033,000 1,452,666,000 1,430,370,000 1,427,842,000 1,474,523,000 1,376,009,000 1,362,701,000 1,122,904,000 1,153,526,000 1,020,018,000 378,467,000 137,254,000  102,417,000 119,726,000               120,890,000 
      commitments and contingencies*
    		                                     
      equity
    		                                     
      share capital
    		10,061,000 10,061,000 10,061,000 10,061,000 10,061,000 10,061,000 7,215,000 7,215,000 7,215,000 7,215,000 7,215,000 7,214,000 7,111,000 6,477,000 5,299,000 5,297,000 1,727,000 801,000 491,000 44,731,000 305,000 244,000               171,000 
      treasury shares
    		-11,527,000 -12,466,000 -5,014,000 -1,741,000 -4,309,000 -4,422,000 -5,386,000 -5,669,000 -5,669,000                             
      additional paid in capital
    		1,124,000 1,053,000 851,000 587,000 285,000  979,000 768,000 715,000 473,000 233,000 472,430,000 454,694,000 356,530,000 201,864,000 201,784,000  772,863,000 417,079,000 99,187,000 183,535,000 131,766,000                
      contributed capital surplus
    		1,582,257,000 1,582,257,000 1,582,257,000 1,582,257,000 1,762,649,000 2,033,237,000 1,732,670,000 1,732,670,000 1,739,834,000 1,775,678,000 1,786,451,000 1,349,974,000 1,378,824,000 1,378,824,000 1,378,824,000 1,378,809,000 1,378,766,000 111,614,000 125,444,000  131,520,000 149,700,000                
      accumulated earnings
    		339,976,000 294,826,000 328,878,000 346,944,000 160,055,000                                 
      total equity
    		1,921,891,000 1,875,731,000 1,917,033,000 1,938,108,000 1,928,741,000 1,799,838,000 1,368,756,000 1,303,945,000 1,513,391,000 1,473,217,000 1,523,512,000 1,503,003,000 1,494,049,000 1,367,371,000 1,238,719,000 1,255,961,000 1,158,649,000 884,273,000 543,014,000 468,976,000 307,441,000 277,694,000                
      total liabilities and equity
    		3,489,018,000 3,464,281,000 3,257,291,000 3,387,705,000 3,454,177,000 3,482,676,000 2,721,067,000 2,715,978,000 2,966,057,000 2,903,587,000 2,951,354,000 2,977,526,000 2,870,058,000 2,730,072,000 2,361,623,000 2,409,487,000 2,178,667,000 1,262,740,000 680,268,000  409,858,000 397,420,000                
      long-term assets
    		                                     
      derivative instruments receivable long-term
    		 22,579,000  18,815,000                                  
      derivative instruments payable
    		 829,000  202,000  18,106,000  36,208,000  10,293,000  913,000  4,539,000  20,602,000 5,400,000                     
      trade accounts payables
    		 11,225,000 7,143,000 5,242,000 6,462,000 7,179,000 18,402,000 15,873,000 12,402,000 14,673,000 7,752,000 11,123,000 5,401,000 6,056,000 2,882,000 6,495,000 2,533,000                     
      commitments and contingencies
    		                                     
      derivative instruments receivables
    		  12,262,000  2,679,000  572,000  3,876,000  9,449,000  3,748,000  1,594,000                       
      other long term assets
    		     1,058,000 502,000 200,000 8,267,000 18,097,000 17,639,000 11,994,000 10,681,000 8,806,000 7,527,000 6,317,000 4,744,000      2,364,000               
      current portion of long-term related party debt
    		     27,058,000                                
      current portion of finance lease obligations
    		     24,197,000 23,475,000 22,735,000 17,502,000 4,687,000                            
      long-term related party debt
    		     386,542,000       44,000,000                         
      non-current portion of finance lease obligations
    		     115,340,000 127,730,000 139,566,000 151,206,000                             
      accumulated deficit
    		     -239,038,000 -366,722,000 -431,039,000 -228,704,000                             
      other long term liabilities
    		          7,278,000 7,723,000 8,059,000 8,136,000 8,212,000 8,385,000 8,540,000   2,201,000                  
      vessels under capital leases
    		          1,165,000 1,617,000 2,061,000 2,512,000 2,956,000 6,880,000 8,354,000                     
      current portion of obligations under capital leases
    		          5,649,000 5,438,000 5,239,000 5,043,000 4,858,000 14,601,000 15,749,000                     
      obligations under capital leases
    		          1,786,000 4,687,000 7,435,000 10,125,000 12,673,000 15,168,000 17,531,000                     
      accumulated other comprehensive income
    		            5,323,000 4,935,000 2,287,000                       
      retained deficit
    		                                     
      prepaid expenses and accrued income
    		           10,430,000 8,587,000 6,896,000 6,524,000 6,834,000 5,687,000 844,000 886,000  521,000 616,000               608,000 
      other receivables
    		            25,437,000 18,166,000 10,987,000 13,305,000 14,992,000 3,430,000 931,000  943,000 2,691,000               5,836,000 
      equity method investments
    		               3,794,000                      
      other comprehensive loss
    		                                     
      deferred charges
    		                5,797,000 3,533,000 3,946,000  664,000 1,222,000 2,629,000 1,035,000 1,128,000 1,935,000 1,220,000 1,322,000 80,000 107,000 134,000 177,000 210,000 246,000   282,000 
      vessels
    		                 852,665,000 527,898,000  262,747,000 273,826,000 459,032,000 335,492,000 339,969,000 402,414,000 344,399,000 266,185,000 180,579,000 183,989,000 187,360,000 190,788,000 194,216,000 197,644,000 255,144,000 259,459,000 201,072,000 
      deferred charter revenue
    		                 3,285,000 2,500,000  3,623,000 3,020,000                
      net income
    		                 15,995,000                    
      adjustments to reconcile net income to net cash from operating activities:
    		                                     
      depreciation
    		                 19,561,000   11,079,000 20,485,000                
      amortization of deferred charges
    		                 685,000   558,000 879,000                
      net (gain) loss on sale of assets
    		                                     
      impairment loss on vessels
    		                    5,342,000 41,597,000                
      amortization of time charter contract value
    		                     2,303,000                
      restricted stock unit expense
    		                 242,000   919,000 906,000                
      benefit from doubtful accounts
    		                    226,000 10,155,000                
      changes in operating assets and liabilities:
    		                                     
      related party balances
    		                 622,000                    
      inventories, net of disposals
    		                     1,535,000                
      net cash from operating activities
    		                 24,864,000 15,794,000  12,313,000 36,799,000                
      investing activities
    		                                     
      placement of restricted cash
    		                                     
      additions to newbuildings
    		                                     
      cash acquired upon purchase of spcs
    		                 68,560,000                    
      purchase of vessels
    		                                     
      proceeds from sale of assets
    		                    17,075,000                 
      net cash from investing activities
    		                                     
      financing activities
    		                                     
      proceeds from long-term debt
    		                 270,000,000                    
      repayment of long-term debt
    		                                     
      debt fees paid
    		                                     
      net proceeds from share issuance
    		                    51,167,000                 
      distributions to shareholders
    		                                     
      net cash from financing activities
    		                 235,958,000 14,725,000  16,309,000                 
      net change in cash and cash equivalents
    		                                     
      cash and cash equivalents at beginning of year
    		                 98,250,000   79,259,000 46,848,000                
      cash and cash equivalents at end of year
    		                 42,221,000   98,250,000 79,259,000                
      supplemental disclosure of cash flow information:
    		                                     
      interest paid, net of capitalized interest
    		                 5,848,000   2,851,000 4,477,000                
      voyage in progress
    		                  824,000                   
      purchase of vessel
    		                                     
      cash acquired on purchase of spcs
    		                  43,412,000                   
      proceeds from sale of vessel
    		                                     
      proceeds from (repayment) of long-term debt
    		                  30,000,000                   
      cash and cash equivalents at start of period
    		                  98,250,000                   
      cash and cash equivalents at end of period
    		                  18,130,000                   
      non current assets
    		                                     
      vessels held under finance leases
    		                   56,535,000                  
      vessels under construction
    		                   42,398,000                  
      other long term receivables
    		                   9,189,000                  
      available-for-sale financial assets
    		                   9,164,000                  
      derivative financial instruments
    		                   2,093,000                  
      installments on cancelled newbuildings
    		                                     
      investment in associates and joint ventures
    		                   10,481,000                  
      total non-current assets
    		                   828,118,000                  
      trade and other receivables
    		                   21,554,000                  
      refundable installments on cancelled newbuildings
    		                   111,561,000                  
      restricted deposit
    		                   3,531,000                  
      equity and liabilities
    		                                     
      equity attributable to equity holders of the parent
    		                                     
      other reserves
    		                   42,999,000                  
      retained earnings
    		                   282,059,000                 42,086,000 
      non-controlling interests
    		                                     
      non-current liabilities
    		                                     
      long term debt
    		                   396,957,000            96,320,000      
      obligations under finance leases
    		                   55,288,000                  
      total non-current liabilities
    		                   456,552,000                  
      long-term debt - current portion
    		                   128,435,000                  
      obligations under finance leases – current portion
    		                   4,290,000                  
      amount due to related parties
    		                   1,180,000                  
      trade payables and other current liabilities
    		                   19,991,000                  
      total liabilities and shareholders' equity
    		                   1,079,424,000                  
      see accompanying notes that are an integral part of these financial statements
    		                                     
      vessel held for sale
    		                     21,523,000                
      net increase in cash and cash equivalents
    		                    18,991,000 32,411,000                
      retained (deficit) earnings
    		                                     
      net income on sale of vessels
    		                     13,088,000                
      changes in restricted cash
    		                                     
      proceeds from sale of vessels
    		                     66,993,000                
      net cash from (used) in investing activities
    		                     66,993,000                
      short term
    		                                     
      long term
    		                                     
      liabilities and stockholders’ equity
    		                                     
      short-term debt and current portion of long-term debt
    		                      3,600,000 7,600,000  32,350,000 13,960,000 28,260,000 42,560,000         
      stockholders’ equity
    		                      375,901,000       224,523,000 222,305,000 223,091,000 224,618,000 223,277,000 169,472,000 172,129,000  
      total liabilities and stockholders’ equity
    		                      541,953,000       332,305,000 331,685,000 335,133,000 336,897,000 339,085,000 312,095,000 319,012,000 342,166,000 
      liabilities and stockholders' equity
    		                                     
      stockholders' equity
    		                       251,421,000  276,011,000 239,710,000 230,724,000 227,620,000         
      total liabilities and stockholders' equity
    		                       372,783,000 371,951,000 448,651,000 374,946,000 352,439,000 349,124,000         
      stockholders‟ equity
    		                        244,824,000             
      short term debt and current portion of long-term debt
    		                             42,560,000 42,560,000  8,960,000 8,960,000 11,200,000 11,200,000  
      long term interest bearing debt
    		                             58,240,000 60,480,000  98,560,000 100,800,000 123,200,000 126,000,000  
      deferred charges and other long-term assets
    		                                  349,000 358,000  
      credit facilities and current portion of long-term debt
    		                                    8,960,000 
      contributed capital surplus account
    		                                    179,019,000 
      total stockholders’ equity
    		                                    221,276,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.