XML 74 R52.htm IDEA: XBRL DOCUMENT v3.23.1
Long-Term Debt, Secured Term Loans (Details)
$ in Thousands
1 Months Ended 12 Months Ended
Dec. 31, 2022
USD ($)
Nov. 30, 2022
USD ($)
Jul. 31, 2022
USD ($)
Dec. 31, 2020
USD ($)
Subsidiary
Dec. 31, 2022
USD ($)
Vessel
Payment
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Subsidiary
Jun. 30, 2022
USD ($)
Mar. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Jul. 31, 2019
USD ($)
Subsidiary
Long-Term Debt [Abstract]                      
Frequency of loan repayments         quarterly installments            
Number of balloon installment payments | Payment         1            
Number of tanker vessels used as collateral | Vessel         8            
Net book value of tanker vessels used as collateral $ 236,607       $ 236,607            
Proceeds from loan agreement         108,633 $ 0 $ 34,800        
Compensating cash balance required under loan agreements 10,500       $ 10,500 5,000          
Covenant compliance         As at December 31, 2022 and 2021, the Company was in compliance with all of its loan covenants.            
Restricted cash, non-current 1,000       $ 1,000 $ 0          
Weighted average interest rate         4.85% 2.90%          
Interest expense on long-term debt         $ 3,191 $ 1,596 $ 1,710        
Accrued interest 390       $ 390 $ 51          
Minimum [Member]                      
Long-Term Debt [Abstract]                      
Arrangement fee percentage         0.50%            
Maximum [Member]                      
Long-Term Debt [Abstract]                      
Arrangement fee percentage         1.00%            
LIBOR [Member] | Minimum [Member]                      
Long-Term Debt [Abstract]                      
Margin on variable rate         2.35%            
LIBOR [Member] | Maximum [Member]                      
Long-Term Debt [Abstract]                      
Margin on variable rate         2.85%            
SOFR [Member] | Minimum [Member]                      
Long-Term Debt [Abstract]                      
Margin on variable rate         2.35%            
SOFR [Member] | Maximum [Member]                      
Long-Term Debt [Abstract]                      
Margin on variable rate         2.85%            
Nordea Bank Secured Term Loan [Member]                      
Long-Term Debt [Abstract]                      
Number of vessel-owning subsidiaries entering into loan agreement | Subsidiary                     2
Borrowing capacity                 $ 59,000 $ 47,000 $ 33,000
Piraeus Bank Secured Term Loans [Member]                      
Long-Term Debt [Abstract]                      
Number of vessel-owning subsidiaries entering into loan agreement | Subsidiary       3     3        
Borrowing capacity   $ 37,400   $ 31,526     $ 31,526 $ 31,933      
Proceeds from loan agreement   36,450 $ 31,933 29,958              
Amount available for drawdown 0     $ 0 $ 0   $ 0        
Piraeus Bank Secured Term Loans [Member] | P. Sophia [Member]                      
Long-Term Debt [Abstract]                      
Acquisition price of vessel to be financed               24,600      
Piraeus Bank Secured Term Loans [Member] | P. Yanbu [Member]                      
Long-Term Debt [Abstract]                      
Outstanding indebtedness on vessel to be refinanced               $ 7,333      
Piraeus Bank Secured Term Loans [Member] | P. Monterey [Member]                      
Long-Term Debt [Abstract]                      
Acquisition price of vessel to be financed   29,615                  
Piraeus Bank Secured Term Loans [Member] | P. Kikuma [Member]                      
Long-Term Debt [Abstract]                      
Outstanding indebtedness on vessel to be refinanced   7,785                  
Alpha Bank Secured Term Loans [Member]                      
Long-Term Debt [Abstract]                      
Borrowing capacity 22,000 18,250     $ 22,000            
Proceeds from loan agreement $ 22,000 $ 18,250