Long-term Debt - Related Party

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-term debt - related party

Long-term debt – related party

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

	March 31, 2024			December 31, 2023
Exquisite Vessel Financing	$	177,848		$	180,029
Less current portion		(8,487	)		(8,336	)
Total long-term related party debt	$	169,361		$	171,693

Exquisite Vessel Financing

In June 2018, the Company entered into a sale leaseback agreement with Nakilat Excelerate LLC, its equity method investment, to provide $220.0 million of financing for Exquisite 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.