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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 116,382 $ 134,784
Restricted cash 2,254 3,289
Marketable securities 0 2,187
Trade accounts receivable, net 29,809 14,950
Other current assets 47,812 54,430
Related party receivables 3,734 2,334
Derivative instruments receivable 12,480 12,262
Favorable charter party contracts 796 0
Inventories 40,887 45,434
Prepaid expenses 6,771 12,503
Voyages in progress 17,992 16,974
Total current assets 278,917 299,147
Vessels and equipment, net 2,987,360 2,665,785
Vessels held for sale 14,486 12,542
Newbuildings 54,777 91,898
Finance leases, right of use assets, net 68,643 83,589
Operating leases, right of use assets, net 9,538 15,646
Investments in associated companies 58,536 65,400
Related party receivables 0 837
Derivative instruments receivable 15,590 20,861
Favorable charter party contracts 755 0
Other long-term assets 416 1,586
Total assets 3,489,018 3,257,291
Current liabilities    
Current portion of long-term debt 109,309 92,865
Current portion of finance lease obligations - related party 19,601 18,387
Current portion of operating lease obligations (including related party balances of $2,147 and $2,010 as of December 31, 2023 and 2022 respectively) 2,632 5,546
Derivative instruments payables 172 1,313
Unfavorable charter party contracts 2,496 0
Related party payables 9,157 9,492
Trade accounts payable 9,524 7,143
Accrued expenses 46,041 43,388
Other current liabilities 27,259 33,494
Total current liabilities 226,191 211,628
Long-term liabilities    
Long-term debt 1,260,758 1,027,991
Non-current portion of finance lease obligations - related party 67,987 87,588
Non-current portion of operating lease obligations (including related party balances of $9,198 and $11,345 as of December 31, 2023 and 2022 respectively) 9,621 13,051
Other long-term liabilities 2,570 0
Total liabilities 1,567,127 1,340,258
Commitments and contingencies [1]
Equity    
Share capital (Shares issued: 2023: 201,190,621. 2022: 201,190,621. Outstanding shares: 2023: 199,628,293. 2022: 200,485,621 shares. All shares are issued and outstanding at par value $0.05) 10,061 10,061
Treasury shares (11,527) (5,014)
Additional paid in capital 1,124 851
Contributed capital surplus 1,582,257 1,582,257
Accumulated earnings 339,976 328,878
Total equity 1,921,891 1,917,033
Total liabilities and equity $ 3,489,018 $ 3,257,291
[1]
*For details please refer to Note 28, "Commitments and contingencies".