Long-term Debt - Related Party

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-term debt - related party

11.Long-term debt – related party

The Company’s related party long-term debt consists of the following (in thousands):

	March 31, 2023			December 31, 2022
Exquisite Vessel Financing	$	186,443		$	188,433
Less current portion		(7,864	)		(7,661	)
Total long-term related party debt	$	178,579		$	180,772

Exquisite Vessel Financing

In June 2018, the Company entered into a sale leaseback agreement with Nakilat Excelerate LLC, its equity method investment (“Nakilat JV”), to provide $220.0 million of financing for the Exquisite vessel at 7.73% (the “Exquisite Vessel Financing”). The agreement was recognized as a failed sale leaseback transaction and was treated as financing due to the Company’s lease of the vessel.