Cover
Cover | 12 Months Ended |
Dec. 31, 2022 shares | |
Entity Listings [Line Items] | |
Document type | 20-F |
Document registration statement | false |
Document annual report | true |
Document period end date | Dec. 31, 2022 |
Current fiscal year end date | --12-31 |
Document transition report | false |
Document shell company report | false |
Entity file number | 001-32458 |
Entity registrant name | DIANA SHIPPING INC. |
Entity incorporation state country code | 1T |
Entity address, address line one | Pendelis 16 |
Entity address, city or town | Athens |
Entity address, postal zip code | 175 64 Palaio Faliro |
Entity address, country | GR |
Contact personnel name | Mr. Ioannis Zafirakis |
Entity common stock shares outstanding | 102,653,619 |
Entity well known seasoned issuer | No |
Entity voluntary filers | No |
Entity current reporting status | Yes |
Entity interactive data current | Yes |
Entity filer category | Accelerated Filer |
Entity emerging growth company | false |
Document accounting standard | U.S. GAAP |
Entity shell company | false |
Entity central index key | 0001318885 |
Document fiscal year focus | 2022 |
Document fiscal period focus | FY |
ICFR auditor attestation flag | true |
Amendment flag | false |
Auditor firm ID | 1457 |
Auditor name | Ernst & Young (Hellas) Certified Auditors Accountants S.A. |
Auditor location | Athens, Greece |
Business Contact [Member] | |
Entity Listings [Line Items] | |
Entity address, address line one | Pendelis 16 |
Entity address, city or town | Athens |
Entity address, postal zip code | 175 64 Palaio Faliro |
Entity address, country | GR |
Contact personnel name | Mr. Ioannis Zafirakis |
City area code | 210 |
Local phone number | 9470-100 |
Contact personnel fax number | 30-210-9470-101 |
Contact personnel email address | izafirakis@dianashippinginc.com |
Common Stock [Member] | |
Entity Listings [Line Items] | |
Title of 12(b) security | Common Stock, $0.01 par value including the Preferred Stock Purchase Rights |
Trading symbol | DSX |
Security exchange name | NYSE |
Series B Cumulative Redeemable Perpetual Preferred Shares at 8.875% [Member] | |
Entity Listings [Line Items] | |
Title of 12(b) security | 8.875% Series B Cumulative Redeemable Perpetual Preferred Shares, $0.01 par value |
Trading symbol | DSXPRB |
Security exchange name | NYSE |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash and cash equivalents (Note 2(e)) | $ 76,428 | $ 110,288 |
Time deposits (Note 2(e)) | 46,500 | 0 |
Accounts receivable, trade (Note 2(f)) | 6,126 | 2,832 |
Due from related parties, net of provision for credit losses (Note 3(c) and 8(b)) | 216 | 952 |
Inventories (Note 2(g)) | 4,545 | 6,089 |
Prepaid expenses and other assets | 6,749 | 5,484 |
Total Current Assets | 140,564 | 125,645 |
Fixed Assets: | ||
Advances for vessel acquisitions (Note 4) | 24,123 | 16,287 |
Vessels, net (Note 4) | 949,616 | 643,450 |
Property and equipment, net (Note 5) | 22,963 | 22,842 |
Total fixed assets | 996,702 | 682,579 |
Other Noncurrent Assets | ||
Restricted cash, non-current (Note 6) | 21,000 | 16,500 |
Equity method investments (Note 3(c)) | 506 | 0 |
Investments in related party (Note 3(f)) | 7,744 | 7,644 |
Other non-current assets | 101 | 1,455 |
Deferred costs (Note 2(n)) | 16,302 | 8,127 |
Total Non-current Assets | 1,042,355 | 716,305 |
Total assets | 1,182,919 | 841,950 |
Current Liabilities | ||
Current portion of long-term debt, net of deferred financing costs (Note 6) | 91,495 | 41,148 |
Current portion of finance liabilities, net of deferred financing costs (Note 7) | 8,802 | 0 |
Accounts payable | 11,242 | 9,777 |
Due to related parties (Note 3(a) and (c)) | 136 | 596 |
Accrued liabilities | 12,134 | 7,878 |
Deferred revenue (Note 2(p)) | 7,758 | 5,732 |
Total Current Liabilities | 131,567 | 65,131 |
Non-current Liabilities | ||
Long-term debt, net of current portion and deferred financing costs (Note 6) | 431,016 | 382,527 |
Finance liabilities, net of current portion and deferred financing costs (Note 7) | 132,129 | 0 |
Other non-current liabilities | 879 | 1,097 |
Total Noncurrent Liabilities | 564,024 | 383,624 |
Commitments and contingencies (Note 8) | ||
Stockholders' Equity | ||
Preferred stock (Note 9) | 26 | 26 |
Common stock, $0.01 par value; 200,000,000 shares authorized and 102,653,619 and 84,672,258 issued and outstanding on December 31, 2022 and 2021, respectively (Note 9) | 1,027 | 847 |
Additional paid in capital | 1,061,015 | 982,537 |
Accumulated other comprehensive income | 253 | 71 |
Accumulated deficit | (574,993) | (590,286) |
Total Stockholders' Equity | 487,328 | 393,195 |
Total Liabilities and Stockholders' Equity | $ 1,182,919 | $ 841,950 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
CONSOLIDATED BALANCE SHEETS | ||
Common stock, par value per share | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 102,653,619 | 84,672,258 |
Common stock, shares outstanding | 102,653,619 | 84,672,258 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
REVENUES: | |||
Time charter revenues (Note 2(q)) | $ 289,972,000 | $ 214,203,000 | $ 169,733,000 |
OPERATING EXPENSES | |||
Voyage expenses (Notes 2(q) and 10) | 6,942,000 | 5,570,000 | 13,525,000 |
Vessel operating expenses (Note 2(r)) | 72,033,000 | 74,756,000 | 85,847,000 |
Depreciation and amortization of deferred charges (Note 2(m) and (n)) | 43,326,000 | 40,492,000 | 42,991,000 |
General and administrative expenses | 29,367,000 | 29,192,000 | 32,778,000 |
Management fees to related party (Note 3(c)) | 511,000 | 1,432,000 | 2,017,000 |
Vessel impairment charges (Note 2(l)) | 104,395,000 | ||
(Gain)/loss on sale of vessels (Notes 4) | (2,850,000) | (1,360,000) | 1,085,000 |
Insurance recoveries (Note 8(a)) | (1,789,000) | ||
Other operating (income)/loss | (265,000) | 603,000 | (230,000) |
Operating income/(loss), total | 142,697,000 | 63,518,000 | (112,675,000) |
OTHER INCOME / (EXPENSES): | |||
Interest expense and finance costs (Note 11) | (27,419,000) | (20,239,000) | (21,514,000) |
Interest and other income | 2,737,000 | 176,000 | 728,000 |
(Loss)/gain on extinguishment of debt | (435,000) | (980,000) | 374,000 |
Gain on spin-off of OceanPal Inc. (Note 3(f)) | 15,252,000 | ||
Gain on dividend distribution (Note 3(f)) | 589,000 | ||
Gain/(loss) from equity method investments (Note 3(c)) | 894,000 | (333,000) | (1,110,000) |
Total other expenses, net | (23,634,000) | (6,124,000) | (21,522,000) |
Net income/(loss) | 119,063,000 | 57,394,000 | (134,197,000) |
Dividends on series B preferred shares (Notes 9(b) and 12) | (5,769,000) | (5,769,000) | (5,769,000) |
Net income/(loss) attributable to common stockholders | $ 113,294,000 | $ 51,625,000 | $ (139,966,000) |
Earnings/(loss) per common share, basic (Note 12) | $ 1.42 | $ 0.64 | $ (1.62) |
Earnings/(loss) per common share, diluted (Note 12) | $ 1.36 | $ 0.61 | $ (1.62) |
Weighted average number of common shares outstanding, basic (Note 12) | 80,061,040 | 81,121,781 | 86,143,556 |
Weighted average number of common shares outstanding, diluted (Note 12) | 83,318,901 | 84,856,840 | 86,143,556 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | |||
Net income/(loss) | $ 119,063 | $ 57,394 | $ (134,197) |
Other comprehensive income/(loss) - Defined benefit plan | 182 | 2 | (40) |
Comprehensive income/(loss) | $ 119,245 | $ 57,396 | $ (134,237) |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Series B Preferred Stock [Member] | Preferred Stock [Member] Series B Preferred Stock [Member] | Preferred Stock [Member] Series C Preferred Stock [Member] | Preferred Stock [Member] Series D Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Other Comprehensive Income / (Loss) [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] Series B Preferred Stock [Member] |
Balance, shares at Dec. 31, 2019 | 2,600,000 | 10,675 | 91,193,339 | |||||||
Balance at Dec. 31, 2019 | $ 570,064 | $ 26 | $ 912 | $ 1,021,633 | $ 109 | $ (452,616) | ||||
Net income/(loss) | (134,197) | (134,197) | ||||||||
Issuance of restricted stock and compensation cost, shares (Note 9(h)) | 2,200,000 | |||||||||
Issuance of restricted stock and compensation cost (Note 9(h)) | 10,511 | $ 22 | 10,489 | |||||||
Stock repurchased and retired, shares (Note 9(e)) | (4,118,337) | |||||||||
Stock repurchased and retired (Note 9(e)) | (11,999) | $ (41) | (11,958) | |||||||
Dividends on series B preferred stock (Note 9(b)) | (5,769) | (5,769) | ||||||||
Other comprehensive income/(loss) | (40) | (40) | ||||||||
Balance, shares at Dec. 31, 2020 | 2,600,000 | 10,675 | 89,275,002 | |||||||
Balance at Dec. 31, 2020 | 428,570 | $ 26 | $ 893 | 1,020,164 | 69 | (592,582) | ||||
Net income/(loss) | 57,394 | 57,394 | ||||||||
Issuance of stock, shares | 400 | |||||||||
Issuance of stock | 254 | 254 | ||||||||
Issuance of restricted stock and compensation cost, shares (Note 9(h)) | 8,260,000 | |||||||||
Issuance of restricted stock and compensation cost (Note 9(h)) | 7,442 | $ 83 | 7,359 | |||||||
Stock repurchased and retired, shares (Note 9(e)) | (12,862,744) | |||||||||
Stock repurchased and retired (Note 9(e)) | (45,369) | $ (129) | (45,240) | |||||||
Dividends on series B preferred stock (Note 9(b)) | (5,769) | (5,769) | ||||||||
Dividends on common stock (Note 9(f)) | (8,820) | (8,820) | ||||||||
OceanPal Inc. spin-off (Note 9(g)) | (40,509) | (40,509) | ||||||||
Other comprehensive income/(loss) | 2 | 2 | ||||||||
Balance, shares at Dec. 31, 2021 | 2,600,000 | 10,675 | 400 | 84,672,258 | ||||||
Balance at Dec. 31, 2021 | 393,195 | $ 26 | $ 847 | 982,537 | 71 | (590,286) | ||||
Net income/(loss) | 119,063 | 119,063 | ||||||||
Issuance of stock, shares | 877,581 | |||||||||
Issuance of stock | 5,322 | $ 9 | 5,313 | |||||||
Issuance of restricted stock and compensation cost, shares (Note 9(h)) | 1,470,000 | |||||||||
Issuance of restricted stock and compensation cost (Note 9(h)) | 9,282 | $ 15 | 9,267 | |||||||
Stock repurchased and retired, shares (Note 9(e)) | (820,000) | |||||||||
Stock repurchased and retired (Note 9(e)) | (3,799) | $ (8) | (3,791) | |||||||
Issuance of common stock for vessel acquisitions, shares (Notes 4 and 9(e)) | 16,453,780 | |||||||||
Issuance of common stock for vessel acquisitions (Notes 4 and 9(e)) | 67,853 | $ 164 | 67,689 | |||||||
Dividends on series B preferred stock (Note 9(b)) | $ (5,769) | $ (5,769) | ||||||||
Dividends on common stock (Note 9(f)) | (79,812) | (79,812) | ||||||||
Dividends in kind (Note 9(g)) | (18,189) | (18,189) | ||||||||
Other comprehensive income/(loss) | 182 | 182 | ||||||||
Balance, shares at Dec. 31, 2022 | 2,600,000 | 10,675 | 400 | 102,653,619 | ||||||
Balance at Dec. 31, 2022 | $ 487,328 | $ 26 | $ 1,027 | $ 1,061,015 | $ 253 | $ (574,993) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash Flows from Operating Activities: | |||
Net income/(loss) | $ 119,063,000 | $ 57,394,000 | $ (134,197,000) |
Adjustments to reconcile net income/(loss) to cash provided by operating activities | |||
Depreciation and amortization of deferred charges | 43,326,000 | 40,492,000 | 42,991,000 |
Asset Impairment loss (Note 2(l)) | 104,395,000 | ||
Amortization of debt issuance costs (Note 11) | 2,286,000 | 1,865,000 | 1,066,000 |
Compensation cost on restricted stock (Note 9(h)) | 9,282,000 | 7,442,000 | 10,511,000 |
Provision for credit loss and write offs (Note 2(z) and 3(c)) | 133,000 | 300,000 | |
Dividend income (Note 3(f)) | (100,000) | (69,000) | |
Pension and other postretirement benefits | 182,000 | 2,000 | (40,000) |
(Gain)/loss on sale of vessels (Notes 4) | (2,850,000) | (1,360,000) | 1,085,000 |
Gain on dividend distribution (Note 3(f)) | (589,000) | ||
(Gain)/loss on extinguishment of debt (Note 6) | 435,000 | 980,000 | (374,000) |
Gain on OceanPal spinoff (Note 3(f)) | (15,252,000) | ||
(Gain)/loss from equity method investments (Note 3(c)) | (894,000) | 333,000 | 1,110,000 |
(Increase) / Decrease | |||
Accounts receivable, trade | (3,427,000) | 1,568,000 | 2,627,000 |
Due from related parties | 736,000 | (56,000) | (1,173,000) |
Inventories | 1,768,000 | (1,581,000) | 809,000 |
Prepaid expenses and other assets | (1,265,000) | 1,759,000 | 1,967,000 |
Other non-current assets | (16,000) | (1,177,000) | (252,000) |
Increase / (Decrease) | |||
Accounts payable, trade and other | 1,465,000 | 1,219,000 | (2,836,000) |
Due to related parties | (72,000) | 154,000 | (31,000) |
Accrued liabilities | 3,956,000 | (2,610,000) | (780,000) |
Deferred revenue | 2,026,000 | 2,890,000 | 310,000 |
Other non-current liabilities | (218,000) | (57,000) | 168,000 |
Drydock cost | (16,368,000) | (4,531,000) | (10,122,000) |
Net Cash Provided by Operating Activities | 158,859,000 | 89,705,000 | 17,234,000 |
Cash Flows from Investing Activities: | |||
Payments to acquire vessels and vessel improvements (Note 4) | (230,302,000) | (17,393,000) | (6,001,000) |
Proceeds from sale of vessels, net of expenses (Note 4) | 4,372,000 | 33,731,000 | 15,623,000 |
Proceeds from sale of related party investment | 1,500,000 | ||
Time deposits (Note 2(e)) | (46,500,000) | ||
Payments to joint venture (Note 3(c)) | (375,000) | (500,000) | |
Investment in spun-off subsidiary (Note 3(f)) | (1,000,000) | ||
Payments to acquire furniture and fixtures (Note 5) | (667,000) | (1,600,000) | (138,000) |
Net Cash Provided by/(Used in) Investing Activities | (273,097,000) | 13,363,000 | 10,484,000 |
Cash Flows from Financing Activities: | |||
Proceeds from issuance of long-term debt and finance liabilities (Notes 6 and 7) | 275,133,000 | 101,279,000 | |
Proceeds from issuance of common stock, net of expenses (Note 9(e)) | 5,266,000 | ||
Proceeds from issuance of preferred stock, net of expenses (Note 9(d)) | 254,000 | ||
Payments of dividends, preferred stock (Note 9(b)) | (5,769,000) | (5,769,000) | (5,769,000) |
Payments of dividends, common stock (Note 9(f)) | (79,812,000) | (8,820,000) | |
Payments for repurchase of common stock (Note 9(e)) | (3,799,000) | (45,369,000) | (11,999,000) |
Payments of financing costs (Notes 6 and 7) | (3,302,000) | (7,594,000) | (567,000) |
Repayments of long-term debt and finance liabilities (Notes 6 and 7) | (102,839,000) | (93,170,000) | (54,762,000) |
Net Cash Provided by / (Used in) Financing Activities | 84,878,000 | (59,189,000) | (73,097,000) |
Cash, Cash Equivalents and Restricted Cash, Period Increase/(Decrease) | (29,360,000) | 43,879,000 | (45,379,000) |
Cash, Cash Equivalents and Restricted Cash, Beginning Balance | 126,788,000 | 82,909,000 | 128,288,000 |
Cash, Cash Equivalents and Restricted Cash, Ending Balance | 97,428,000 | 126,788,000 | 82,909,000 |
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH | |||
Cash and cash equivalents | 76,428,000 | 110,288,000 | 62,909,000 |
Restricted cash, non-current | 21,000,000 | 16,500,000 | 20,000,000 |
Cash, Cash Equivalents and Restricted Cash, Total | 97,428,000 | 126,788,000 | 82,909,000 |
SUPPLEMENTAL CASH FLOW INFORMATION | |||
Non-cash acquisition of assets (Note 4) | 136,038,000 | 441,000 | |
Non-cash debt assumed (Note 6) | 20,571,000 | ||
Stock issued in noncash financing activities (Note 4) | 67,909,000 | ||
Transfer to investments (Note 4) | 1,370,000 | 441,000 | 2,474,000 |
Non-cash debt assumed (Note 6) | 47,782,000 | ||
Interest paid | $ 21,306,000 | $ 19,608,000 | $ 21,397,000 |
Basis of Presentation and Gener
Basis of Presentation and General Information | 12 Months Ended |
Dec. 31, 2022 | |
Basis of Presentation and General Information | |
Basis of Presentation and General Information | 1. The accompanying consolidated financial statements include the accounts and March 8, 1999 , Diana Company’s Company Republic of the Marshall Islands. The Company and Shipping Services Limited, or 50 % owned The outbreak of war in the States including sanctions targeting from Russia to the United States. As of December 31, 2022, and counterparties, have not been significantly affected by the war in Ukraine and their implications, however, as volatility business and may situation, evaluates the available, the Company’s estimates may change in future periods. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Significant Accounting Policies | |
Significant Accounting Policies | 2. a) : prepared in Diana Shipping Inc. been “Consolidation”, the considering if deemed to be the primary beneficiary under majority instruments, service contracts, and entity exist. For is a without additional characteristics of a controlling financial interest. In performing the analysis of whether the Company is the primary beneficiary activities of absorb losses or the right to receive Company had identified involved beneficiary. meets the definition of a joint venture, DWM is not a VIE, it reconsiders whether the entity has become a VIE. b) The preparation generally accepted accounting principles affect the the during the reporting period. c) The Company separately presents certain transactions, which are recorded directly as components is presented in a separate statement. d) The functional the Company’s in U.S. dollars. The Company’s accounting records are other currencies during time of in losses operations. e) The Company considers highly liquid investments such as time deposits, certificates of deposit three months to cash and cash of cash deposits required to be maintained at all times under f) The amount shown as accounts receivable, trade, at each sheet doubtful accounts, if any. individually for 31, 2022 no income on trade receivables as all balances are settled within a year. g) Inventories basis, at the lower of cost or net ordinary course of business, When recognized as a loss in earnings in the period in which it occurs. method. Amounts removed from inventory are also determined by the may also consist of bunkers, any, out method. h) : expenses improvements are also capitalized when they appreciably extend the life, increase improve incurred. Interest cost avoided if expenditure on accumulated of the period. i) criteria are met. Long-lived assets of their the criteria to be held for sale. The fair value less cost to sell of an asset held for sale is assessed at each reporting period it remains classified as held reclassified as held and used, for sale, adjusted for depreciation, and the asset’s fair value at the date of the j) sale of an asset and leaseback should firstly determine whether the transfer of an asset shall be accounted for as a For a buyer aforementioned guidance, sale and leaseback transactions, which include an obligation for the Company, as seller-lessee, to repurchase the finance lease, are determined derecognize the asset from leaseback agreement as a financing arrangement. k) The Company also owns part of a plot acquired for subject 55 years no Furniture, 5 years , Company, which has a useful life of 10 years . Computer software and hardware have a three years . Depreciation is calculated on a straight-line basis. l) Long-lived events potential recoverable. charges, expected disposition Measurement of party valuations. For vessels, the Company calculates undiscounted projected net operating cash flows by considering the historical and charter rates for the unfixed days, using 10 -year average of historical 1 year time charter rates available Historical chartering strategy, the Company’s 10-year average of historical 1 year time charter rates is uses the average of historical 1 year time charter rates developing estimates of the vessels’ maintenance; vessel for scrap. fleet vessels’ net book the vessel plus as impairment loss. The recognition of impairment carrying value in 2020 amounting to $ 104,395 . No 2022. For property by property, during the useful No and 2020 and down of the value of its land or building in the near future. m) Depreciation is computed using the straight-line method over the estimated useful life value is equal the useful life of 25 years Second-hand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are n) : special survey the period vessels that are sold or impaired are written off and included in in the year of the vessel’s sale (Note 4) or impairment. o) : Fees paid for obtaining finance liabilities, fees paid to lenders for obtaining new loans, as deferred. Fees relating the balance Unamortized fees relating to are included in the determination of the period case, they are capitalized to the vessels’ cost. p) : significant Company financial institutions that with accounts receivable generally mitigate credit risk. q) Revenues agreements which contain the conditions. All of the the charterer pays a daily hire insurance premiums for navigating in from time charter thus recognized service is performed. of the in charterers, difference in from the the Company when the vessel is delivered to a new charterer (Note 10). Under a time charter agreement, the owner pays repairs, which are recognized in operating expenses. the maintenance of the same Additionally, assessed that charter contracts. to an vessel. The accounted together under criteria to recognize as revenue have not been met. r) expenses are expensed in the year incurred. Such costs are included in vessel operating expenses in the accompanying consolidated statements of operations. s) by common satisfaction earnings/(loss) per share per common common stock were exercised. t) The Company identified generation, the services environment. they do and the Company does not evaluate the operating Capesize etc.) u) : The Company classifies and discloses its assets and liabilities at fair value in assets or liabilities; by market data; Level 3: Unobservable inputs that are not corroborated v) their grant date fair value and are not subsequently re-measured. during which an employee is required to provide service in period (usually employees Forfeitures of grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original w) exercises accounting. Under this method, the Company amount for the recognized earnings investment. When the the support to liability because the Company absorbed such losses (Note 3(c)). The Company also evaluates whether a loss in value of an investment that is loss in of the investee to sustain an earnings capacity that would x) Management evaluates, at each events that raise substantial doubt about the Company's ability to continue as a going concern within one year from the date the financial statements are issued. y) The immediately cancelled and the Company’s share capital is accordingly reduced. Any excess of the shares 30, Treasury Stock. z) : At each assets individually for credit on such financial asset. When financial assets present similar risk characteristics, these are evaluated on a available information events, Company receivable due and determined that part of the amount may not be recoverable. December 31, 2021, an allowance for 300 , based on probability of default there (income)/loss” reversed (income)/loss” in No identified and recorded in 2020 and 2022. aa) According Company has qualify for Fair Value Measurement to estimate per share (or changes in orderly equity securities at fair value as continue to with without a readily determinable fair value qualifies to Company may securities at election is Company also evaluates indicators such concern Company will estimate the fair value of the investment to determine ab) Non-monetary transactions fair values of asset relinquished is determinable Transactions, Overall, and Reverse Spinoffs, not meet the definition of a business under ASC 805, the nonreciprocal transfer of nonmonetary assets is accounted for at fair value, if the fair value of the nonmonetary asset distributed is objectively measurable and distribution, and value of the the transferee in proportion to an ownership interest the Definition of a are concentrated in consolidated subsidiary of nonmonetary assets to owners are accounted for at fair value if the fair value of distributed is objectively measurable and would be clearly sale at or near the time of the distribution. ac) considered equity settlement. contains an explicit fails settled top-off Liabilities from Equity” and ASC 815 “Derivatives and Hedging” to determine whether the warrants issued should be classified as permanent equity, temporary equity or warrants are classification. New Accounting Pronouncements - Not Yet Adopted In Effects exceptions reference rate reform. expected to be terminated for amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period are available must be applied prospectively for all eligible contract modifications entity may elect to apply beginning entered into certain those optional ASU No. 2022-06, Deferral of optional LIBOR) accounting for the sunset date of to LIBOR and the Company rate to be and elected to use term SOFR as a when the agreements to term SOFR will have a significant impact in its results of operations |
Transactions with related parti
Transactions with related parties | 12 Months Ended |
Dec. 31, 2022 | |
Transactions with related parties | |
Transactions with related parties | 3. a) Altair, which 2020 amounted to $ 2,644 , $ 2,210 1,854 , respectively, and are mainly included in “Vessels, net book value”, consolidated 136 138 , respectively, consolidated balance sheets. b) the Company’s plus commission on 2020 brokerage fees amounted to $ 3,309 , $ 3,309 2,653 , respectively, and administrative and 1,219 , 712 576 , respectively and are included fair value there was no c) Management Inc., a unaffiliated third party, 50 % of DWM. 2021 and 2020, each 50 % shareholder of DWM 375 500 , respectively, as additional investment to DWM. As of December 31, 2022, the investment in DWM 506 is separately presented sheet 388 included in investment 894 , 333 $ 1,110 , consolidated statements of operations. From October for revenues. whereas the vessel DWM under fees paid to 511 , $ 1,432 2,017 , respectively, separately presented of 272 , included four Ultramax vessels the Company assigned the predelivery period of the vessels. 162 , $ 200 $ 353 , respectively, and are there 216 952 accompanying consolidated balance sheets (Note related parties includes a provision of 300 the due amount was collected. d) : On June 22, 400 Stock, to an affiliate of its Chief Executive Officer, Mrs. Semiramis Paliou for an aggregate purchase price of $ 254 e) : On officers and 21,000 (Note 6). f) Conveyance three shipowning subsidiaries 1,000 500,000 Preferred Shares; 10,000 100 % of the common shares of common shares. On stock of 2021. Each of the ten shares of the Company’s common stock held as of the close of business on November 3, 2021. As of December distribution to the definition contributed Company objectively measurable and clearly realizable to the transferor in an outright sale at or near the time of the distribution. The spinoff 15,252 , being the the spinoff of OceanPal Inc.” in the accompanying consolidated statements of The fair value of 48,084 500,000 Series B 10,000 OceanPal to Diana in 7,575 , was recorded as the Company’s consolidated fair determined valuations which were based on characteristics, such contributed approximated their carrying value. Since Preferred Shares of OceanPal, holder 2,000 however, that the total 34 % of the that the total number of votes entitled to vote, including common stock or any other voting security, not exceed 49 % of the total number of votes. Series Incorporation that adversely alter issue Parity into common stock price 6.5 subject accruing 8 % liquidation preference 10,000 . OceanPal Shares, 5 , which the Company 7,570 , being the into consideration a value of the future cash flows the Company expects to receive During existence of for identical or similar investments of the same issuer and the existence of any indications for impairment. As per the Company’s assessment no such have been identified as of for December 31, 2022 and amounted to $ 7,744 7,644 , respectively, including accrued dividends of $ 169 69 , respectively, and are separately presented as “Investments sheets. Additionally, as of December 31, 2021, an amount of $ 70 spinoff, On September 20, 2022, OceanPal issued 25,000 0.01 as part OceanPal, 22,000 commissions, of 4,400 17,600 shares (Note 4). The fair value on their investments in accordance Preferred Shares, of $ 17,600 , was determined through Level 2 inputs of the fair value hierarchy by taking into consideration present value of the future cash flows The Company would not 49 % of have no 7 % per cash or, cash 1,000 acquisition Company's impairment or any observable prices for identical or similar investments On December 15, 2022, the Company distributed those shares as non-cash dividend (dividend in kind) to its shareholders Preferred Shares according to 72,011,457 common 9,172 transaction as fair 18,189 . determined through account holding the equity 589 , being the the carrying value accompanying consolidated statements of operations. During 2022 and 2021, dividend to $ 917 69 , respectively. |
Advances for vessel acquisition
Advances for vessel acquisitions and Vessels, net | 12 Months Ended |
Dec. 31, 2022 | |
Advances for vessel acquisitions and Vessels, net | |
Advances for vessel acquisitions and Vessels, net | 4. Advances for Vessel Acquisitions As of December 31, 2022 and 2021, advances for vessel acquisitions amounted to $ 24,123 16,287 , respectively, and related to advances paid and predelivery described 20,571 acquisitions was held at an escrow account of the designated escrow agent and were for the acquisition of one vessel which was delivered to the Company in Vessel Acquisitions On July Agreement to acquire from an unaffiliated third party, Leonidas P.C. , for 22,000 . The 4,400 , being 20 % of price, included The balance and predelivery costs 927 expenses. On December 3, of Agreement to acquire from an unaffiliated third party, the Capesize dry bulk vessel Florida, construction, 59,275 . 11,855 , 20 % advance of consolidated balance sheet. 29, $ 1,504 On August 10, Trade”), $ 330,000 , of 220,000 110,000 18,487,393 newly issued common shares master agreement, in nine the exercisable delivery of eight 263,719 , of which $ 67,909 issued common shares (Notes 9 and 14) and $ 4,364 shares was determined of each hierarchy. 24,123 acquisitions predelivery expenses, amounting to $ 169 Vessel Disposals On March of Naias , 11,250 commissions. At the date of the agreement to sell the vessel, the vessel was measured at the carrying amount 9,010 , and was classified in current assets as vessel held for sale, criteria required and the sale 1,564 , included in in the consolidated statement of operations. On June 13, of Agreement Baltimore , for 22,000 (Note provisions of ASC 360, as all criteria required for this classification were met, at carrying value of $ 16,722 and unamortized deferred costs of $ 41 , measured at the lower of carrying value less costs to sell. The vessel gain 2,850 , operations. The amounts reflected in Vessels, net in follows: Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2020 $ 872,431 $ (156,253) $ 716,178 - Additions for improvements 1,106 - 1,106 - Additions for improvements reclassified from other non- current assets 441 - 441 - Vessel disposals (16,120) 7,110 (9,010) - Vessels contributed to OceanPal (47,429) 17,127 (30,302) - Depreciation for the year - (34,963) (34,963) Balance, December 31, 2021 $ 810,429 $ (166,979) $ 643,450 - Additions for vessel acquisitions and improvements 358,504 - 358,504 - Additions for improvements reclassified from other non- current assets 1,370 - 1,370 - Vessel disposals (29,175) 12,453 (16,722) - Depreciation for the year - (36,986) (36,986) Balance, December 31, 2022 $ 1,141,128 $ (191,512) $ 949,616 Additions for vessel works necessary As 1,370 441 , Vessels, previous period but delivered on the vessels during the years ended |
Property and Equipment, net
Property and Equipment, net | 12 Months Ended |
Dec. 31, 2022 | |
Property and Equipment, net | |
Property and Equipment, net | 5. In 1/3 owned also 1/3, 1.1 taxes amounted to $ 1,358 . The Company owns the land and building DSS owns, office use. vehicles. The amount reflected in “Property and equipment, net” is analyzed Property and Equipment Accumulated Depreciation Net Book Value Balance, December 31, 2020 $ 27,198 $ (5,494) $ 21,704 - Additions in property and equipment 1,600 - 1,600 - Depreciation for the year - (462) (462) - Disposal of assets (529) 529 - Balance, December 31, 2021 $ 28,269 $ (5,427) $ 22,842 - Additions in property and equipment 667 - 667 - Depreciation for the year - (546) (546) Balance, December 31, 2022 $ 28,936 $ (5,973) $ 22,963 |
Long-term debt
Long-term debt | 12 Months Ended |
Dec. 31, 2022 | |
Long-term debt | |
Long-term debt | 6. The follows: 2022 2021 Senior unsecured bond 125,000 125,000 Secured long-term debt 405,120 306,843 Total long-term $ 530,120 $ 431,843 Less: Deferred financing costs (7,609) (8,168) Long-term debt, net of deferred financing costs $ 522,511 $ 423,675 Less: Current long-term debt, net of deferred financing current (91,495) (41,148) Long-term debt, excluding current maturities $ 431,016 $ 382,527 Senior Unsecured Bond : On September 27, 2018 , the Company issued a $ 100,000 2023 of 16,200 aggregate principal 2021 upon bond bore interest at a US Dollar fixed-rate coupon of 9.50 % which was payable semi-annually in arrears in March and September of each year . The bond was callable in whole or in parts in three years at a price equal to 103.8% of nominal value; in four years at a price equal to 101.9% of the nominal value and in four and a half years at a price equal to 100% of nominal value. and was Company repurchased $ 8,000 $ 74,200 106.25 % 78,838 , with newly issued bond, discussed below. The Company applied the debt modification guidance for the part of the transaction refinanced by existing investors 73,400 remaining $ 800 . An amount of $ 5,272 refinancing and unamortized deferred $ 57 call option 103.8 %. In of the 880 374 , respectively, extinguishment of debt” in the consolidated statements of operations. On June 22, 2021 , the Company issued a $ 125,000 refinanced the previous bond. The bond other senior unsecured obligations by law. Entities $ 21,000 rate coupon of 8.375 % and is payable semi-annually in bond is callable in 103.35 % of nominal June 2025 to December 101.675 % of the nominal at a price equal to 100 % of nominal value. The bond includes financial at Oslo Stock Exchange under the ticker symbol “DIASH02”. Secured Term Loans: Under the 34 are $ 722,961 . insurances, first assignment of time of corporate applicable), financial covenants, as well as operating account assignments. The lenders may also require additional agreements. ownership of the vessels, additional indebtedness, as well as minimum requirements regarding hull cover ratio and minimum liquidity accounts of the borrowers, or the Guarantor. As of December 31, 2022 and 2021, minimum cash the 21,000 16,500 , “Restricted secured term loans contain cross default provisions and additionally the any dividends following interest rate of the secured term loans was 3.8 % and 2.45 %, respectively. As of December borrower or as a guarantor, to guarantee the loans of its subsidiaries: Export-Import February 15, 2012 , down a 37,450 , under 40 quarterly instalments of approximately 628 12,332 on February 15, 2022 . On May 18, 2012 , the Company drew down, under the same agreement, a second tranche of 34,640 , which 40 quarterly 581 balloon of $ 11,410 May 18, 2022 . The loan at LIBOR plus a margin of 2.50 % per annum was prepaid in full on May 17, were written Commonwealth Bank $ 9,500 32 quarterly instalments 156 4,500 January 13, 2022 . interest at LIBOR 2.25 %, was prepaid written off to “(Loss)/gain on extinguishment of debt” in the 2021 consolidated statement BNP Paribas (“BNP”): 53,500 agreement, to G. P. P. maturing on November 30, 2021 . The agreement was refinanced on June May 19, 2024 . The 1,574 $ 23,596 margin of 2.5 %. On July 16, 2018, the Company drew down $ 75,000 is repayable in consecutive quarterly instalments 1,562.5 43,750 together with the July 17, 2023 . The loan bears 2.3 %. Nordea Bank AB, 93,080 under a March 19, 2021 . The margin of 2.1 %. On May July maturity to 460 . The loan, 460 instalments 1,862 26,522 March 19, 2024 , all amount of $ 4,786 , due to Baltimore to OceanPal (Note 4). to consolidated statement of operations. Following this quarterly instalments 1,636 23,313 March 19, 2024 . On September 200 price of 9 197,236 each 21,937 under agreement. (Note 7). Unamortized finance costs relating to “(Loss)/gain on prepayment, the 20 quarterly 3,719 , and a balloon amounting to $ 100,912 October 11, 2027 . The loan bears 2.25 %. Loan 2,069 contra to debt and commitment fees amounted to $ 191 , included in Interest expense and finance costs in the accompanying 2022 consolidated statement of operations. ABN AMRO Bank N.V., or ABN: the amount of $ 52,885 quarterly 800 9,000 instalment on June 28, 2024 . The tranche 2.25 %. Tranche repayable in equal quarterly 994 13,391 together with the last instalment on June 28, 2024 , and bears interest at LIBOR plus a margin of 2.4 %. On May 20, 91,000 ABN AMRO repayable in consecutive quarterly 3,390 23,200 with May 20, 2026 . agreements of Santa Barbara New Orleans , which were Company 30,791 , Unamortized extinguishment of debt” in the 2022 consolidated statement of operations. Following this loan is repayable quarterly 1,980 13,553 with the May 20, 2026 . The 2.15 % per annum, which may 10 the performance under certain sustainability KPIs. Danish Ship Finance A/S: 30,000 which was repayable in 28 quarterly 500 16,000 payable together with the last April 30, 2022 . The loan which bore margin of 2.15 % was on extinguishment of debt” in the 2021 consolidated statement ING Bank N.V.: On November 19, 27,950 a secured 28 quarterly 466 each and a 14,907 November 19, 2022 . 11,733 28 consecutive quarterly 293 3,520 together with the last instalment on October 6, 2022 . The loan which bore interest at LIBOR of 1.65 % was extinguishment of debt” in the 2021 consolidated statement of operations. Export-Import Bank of China: 57,240 loan quarterly 954 , January 4, 2032 2.3 %. DNB Bank 19,000 which is quarterly 477.3 9,454 with the last instalment on March 14, 2024 . The loan bears interest at LIBOR plus a margin of 2.4 %. As of December 31, 2022 and 2021, the Company was in compliance The maturities of the Company’s throughout their term, are shown in the table below and do not Period Principal Repayment Year 1 $ 93,830 Year 2 112,645 Year 3 26,615 Year 4 161,207 Year 5 119,605 Year 6 and 16,218 Total $ 530,120 |
Finance Liabilities
Finance Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Finance Liabilities | |
Finance Liabilities | 7. The amount of finance liabilities as follows: 2022 Finance liabilities 142,370 Less: Deferred financing costs (1,439) Finance liabilities, net of deferred financing costs $ 140,931 Less: Current finance liabilities, net of deferred financing (8,802) Finance liabilities, excluding current maturities $ 132,129 On March 29, 2022, the Company sold Florida 50,000 back the ten years , under hire, monthly after lease, at specific prices, subject to the Company has 16,350 , on the expiration tenth year. Issuance costs amounted to $ 513 . On August 17, 2022, the two Japanese New Santa for 66,400 . vessels were delivered the Company eight years , each, and has purchase options beginning at the end of the or written notice to the vessels for $ 13,000 , each, on the expiration $ 665 . On December 6, 2022, the Company DSI Andromeda 29,850 and ten years , Company repurchase the vessel after the termination repurchased earlier, the Company 8,050 , on the of the lease on the tenth year. Issuance costs amounted to $ 354 . Under the bareboat charter parties, the Company is responsible for the operation and maintenance of the vessels and the during the charter period. The Company determined failed proceeds from the sale of the weighted 8.69 interest rate was 4.61 %. As of as shown in the table below: Period Principal Repayment Year 1 $ 9,033 Year 2 9,437 Year 3 9,808 Year 4 10,224 Year 5 10,661 Year 6 and 93,207 Total $ 142,370 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies | |
Commitments and Contingencies | 8. a) liability, arise in with Company’s management becomes exposure. The Company’s vessels are 1 incident, by the recorded a 1,789 its insurance consolidated statement of operations. b) Protefs , entered United maintenance of books and records Protefs. On September 23, 2021, Protefs among others, 2,000 1,000 of this fine was decreased by full amount was recovered. c) the Company Florida, Santa and upon expiration of their lease contracts, as described d) charter expected to 31, 2022 and until their expiration was as follows: Period Amount Year 1 $ 163,438 Year 2 22,980 Year 3 9,454 Year 4 9,454 Year 5 725 $ 206,051 |
Capital Stock and Changes in Ca
Capital Stock and Changes in Capital Accounts | 12 Months Ended |
Dec. 31, 2022 | |
Capital Stock and Changes in Capital Accounts | |
Stockholders Equity Note Disclosure [Text Block] | 9. a) : consists of 25,000,000 0.01 1,000,000 are designated as Series A Participating 5,000,000 Preferred Shares, 10,675 400 Series zero Participating Preferred Shares issued and outstanding. b) 2,600,000 Series B Preferred 0.01 25.00 with liquidation preference 25.00 Holders of Series B Preferred Shares have no voting rights other than the ability, subject to certain exceptions, to elect one director if dividends for six quarterly dividend periods (whether or not consecutive) are in arrears and certain other limited protective voting rights. to dividends, future indebtedness. Dividends on the Series on the 15th 8.875 % per annum, or 2.21875 amounted 5,769 , 5,769 5,769 , redeem, in whole or in part, the Series B Preferred Shares at a redemption price of $ 25.00 an amount equal not declared. c) : As of December 10,675 of Series C Preferred Stock, issued and 0.01 of its Chief The Series C Preferred Stock votes with the common shares of the Company, and each share entitles the holder thereof to 1,000 votes on all matters submitted to a vote of the shareholders of the Company. rights and cannot be immediate family members. d) : As of December 31, 2022, and, 2021, 400 Series D Preferred Stock, issued and outstanding, 0.01 its Chief has no Company, 100,000 votes, on of votes eligible security of the Company entitled to voting power derived from securities other than the Series D of votes entitled to be cast on matters put to shareholders of the Company. is transferable only to the holder’s immediate family e) In February 2020, a 3,030,303 3.30 repurchased 1,088,034 at 1.72 $ 11,999 , 6,000,000 shares at the price 2.50 August 2021, the Company 3,333,333 4.50 3,529,411 a price of 4.25 45,369 , including expenses. In 877,581 price of 6.27 5,322 . During under its 820,000 4.56 share, 3,799 , Company issued 16,453,780 eight out of of $ 4.13 . f) On March 21, stock of 0.20 paid a dividend on its common stock of 0.25 On 0.275 shareholders of record as of August 8, 2022. On December 15, 2022, the Company paid a common stock of $ 0.175 the Company paid total cash dividends on common stock amounting 79,812 . g) On December 15, 2022, the Company distributed the Series D Preferred 18,189 , or $ 0.18 per share, 2021, the Company OceanPal, acquired in a spin-off, amounting to $ 40,509 h) On February 25, 2022, 1,470,000 pursuant to the Company’s Equity Incentive Plan, as annual bonus. The fair value of the restricted shares based on the 6,101 . The cost awards will be 3 As of December 15,194,759 incentive plan. Restricted stock in 2022, 2021 and 2020 is analyzed as follows: Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2019 3,833,233 $ 3.63 Granted 2,200,000 2.72 Vested (3,610,221) 3.52 Outstanding at December 31, 2020 2,423,012 $ 2.95 Granted 8,260,000 2.85 Vested (1,168,363) 3.20 Outstanding at December 31, 2021 9,514,649 $ 2.83 Granted 1,470,000 4.15 Vested (3,118,060) 2.86 Outstanding at December 31, 2022 7,866,589 $ 3.07 The Company’s aggregate compensation cost the respective vesting periods. In 2022, 2021, and 2020, compensation cost amounted 9,282 , $ 7,442 , and 10,511 , accompanying consolidated statements of operations. As of $ 16,873 20,054 , respectively. As of total compensation cost related to 2.54 |
Voyage expenses
Voyage expenses | 12 Months Ended |
Dec. 31, 2022 | |
Voyage expenses | |
Voyage expenses | 10. The amounts in the accompanying consolidated statements of operations 2022 2021 2020 Commissions $ 14,412 $ 10,794 $ 8,310 (Gain)/loss from bunkers (8,100) (5,955) 3,708 Port expenses and other 630 731 1,507 Total $ 6,942 $ 5,570 $ 13,525 |
Interest and Finance Costs
Interest and Finance Costs | 12 Months Ended |
Dec. 31, 2022 | |
Interest and Finance Costs | |
Interest and Finance Costs | 11. The amounts in the accompanying consolidated statements of operations 2022 2021 2020 Interest expense, debt $ 21,983 $ 18,067 $ 20,163 Finance liabilities interest expense 2,735 - - Amortization of debt and finance liabilities issuance costs 2,286 1,865 1,066 Loan and other expenses 415 307 285 Interest expense and finance costs $ 27,419 $ 20,239 $ 21,514 |
Earnings_(loss) per Share
Earnings/(loss) per Share | 12 Months Ended |
Dec. 31, 2022 | |
Earnings/(loss) per Share | |
Earnings/(loss) per Share | 12. All common are calculation participating Incremental shares are the number of shares assumed issued for 3,257,861 3,735,059 calculation. In no t share, as the Company incurred losses and the effect of such shares would be anti-dilutive. Profit or Preferred Stock as follows: 2022 2021 2020 Net income/(loss) $ 119,063 $ 57,394 $ (134,197) Dividends on series B preferred shares (5,769) (5,769) (5,769) Net income/(loss) attributable to common stockholders $ 113,294 $ 51,625 $ (139,966) Weighted average number of common shares, basic 80,061,040 81,121,781 86,143,556 Incremental shares 3,257,861 3,735,059 - Weighted average number of common shares, diluted 83,318,901 84,856,840 86,143,556 Earnings/(loss) per share, basic $ 1.42 $ 0.64 $ (1.62) Earnings/(loss) per share, diluted $ 1.36 $ 0.61 $ (1.62) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Taxes | |
Income Taxes | 13. Under companies are and tonnage statements of operations. The vessel-owning returns with the Internal Revenue Service. However, pursuant to the Internal Revenue Code of the United States, U.S. The applicable tax is 50 % of 4 % of U.S.-related gross transportation The Company and each 2021 and return reporting purposes. |
Financial Instruments and Fair
Financial Instruments and Fair Value Disclosures | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments and Fair Value Disclosures | |
Financial Instruments and Fair Value Disclosures | 14. Interest rate risk and concentration of credit risk Financial instruments, consist Company’s counterparties to perform their that are the Company’s credit risk with financial institutions is limited as it has temporary cash investments, consisting mostly of deposits, placed with various qualified financial institutions and performs periodic evaluations of the relative credit receivable by performing ongoing payments receivable and does not have any agreements to mitigate credit risk. In 2022, 10 % or charter revenues were as follows: Charterer 2022 2021 2020 Cargill International SA 19% 10% 18% Koch Shipping PTE LTD. 15% * 16% *Less than 10% The Company the company does not have any derivative instruments to manage such Fair value of assets and liabilities The approximate their fair value of long-term bank loans with variable interest due to their variable interest rates. Fair value measurements disclosed As of December 31, 2022, the Bond having a fixed interest 125,000 had a fair value of $ 120,525 FASB guidance for Fair Value Measurements. On September 25,000 $ 17,600 , determined through Level 2 inputs of the fair value hierarchy by taking into consideration party future cash flows the Company expects to receive from holding On December 15, measured their fair 18,189 . Their Level 2 value instrument which resulted in gain of $ 589 Other Fair value measurements Description (in thousands of US Dollars) December 31, 2021 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Non-recurring fair value measurements Investments in related parties (1) 7,575 7,575 December 31, 2022 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Non-recurring fair value measurements Long-lived assets held for use (2) 67,909 67,909 Total 67,909 67,909 - On November 29, at 5 7,570 , respectively, Company by OceanPal (Note 3(f)). (2) eight agreement with 263,719 , of 195,810 paid in cash and $ 67,909 the Company’s shares on such shares. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events | |
Subsequent Events | 15. a) On dividend 0.5546875 1,442 , stockholders of record as of January 13, 2023. b) owned subsidiary, for the 15,080 . The Additionally, on an agreement with OceanPal, $ 14,000 , 4,000 10,000 13,157 Shares. The vessel was delivered to resulted 8,134 agreements with Nordea, Melia Aliki , and the repayment schedule was adjusted accordingly. c) Ultramax dry bulk 2,033,613 common shares to Sea Trade, at $ 0.01 7,809 , based Level 1 account hierarchy. d) Agreement to acquire from an unaffiliated third party the m/v Nord Potomac, a 2016 built Ultramax dry bulk vessel, for a purchase 27,900 , of which the Company paid 10 % advance of the purchase price. 2023. e) Restricted share awards: award 1,750,000 . executive directors, pursuant to the Company’s amended plan, as the restricted shares $ 7,945 . The which will be 3 f) 11,841 balance of its loan with DNB Bank (Note 6). g) quarterly dividend on 0.15 15,965 , to shareholders as of December 31, on April 24, 13,157 non-cash consideration of the sale of Melia |
Significant Accounting Polici_2
Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2022 | |
Significant Accounting Policies | |
Principles of Consolidation | a) : prepared in Diana Shipping Inc. been “Consolidation”, the considering if deemed to be the primary beneficiary under majority instruments, service contracts, and entity exist. For is a without additional characteristics of a controlling financial interest. In performing the analysis of whether the Company is the primary beneficiary activities of absorb losses or the right to receive Company had identified involved beneficiary. meets the definition of a joint venture, DWM is not a VIE, it reconsiders whether the entity has become a VIE. |
Use of Estimates | b) The preparation generally accepted accounting principles affect the the during the reporting period. |
Other Comprehensive Income / (Loss) | c) The Company separately presents certain transactions, which are recorded directly as components is presented in a separate statement. |
Foreign Currency Translation | d) The functional the Company’s in U.S. dollars. The Company’s accounting records are other currencies during time of in losses operations. |
Cash, Cash Equivalents and Time Deposits | e) The Company considers highly liquid investments such as time deposits, certificates of deposit three months to cash and cash of cash deposits required to be maintained at all times under |
Accounts Receivable, Trade | f) The amount shown as accounts receivable, trade, at each sheet doubtful accounts, if any. individually for 31, 2022 no income on trade receivables as all balances are settled within a year. |
Inventories | g) Inventories basis, at the lower of cost or net ordinary course of business, When recognized as a loss in earnings in the period in which it occurs. method. Amounts removed from inventory are also determined by the may also consist of bunkers, any, out method. |
Vessel Cost | h) : expenses improvements are also capitalized when they appreciably extend the life, increase improve incurred. Interest cost avoided if expenditure on accumulated of the period. |
Vessels held for sale | i) criteria are met. Long-lived assets of their the criteria to be held for sale. The fair value less cost to sell of an asset held for sale is assessed at each reporting period it remains classified as held reclassified as held and used, for sale, adjusted for depreciation, and the asset’s fair value at the date of the |
Sale and leaseback | j) sale of an asset and leaseback should firstly determine whether the transfer of an asset shall be accounted for as a For a buyer aforementioned guidance, sale and leaseback transactions, which include an obligation for the Company, as seller-lessee, to repurchase the finance lease, are determined derecognize the asset from leaseback agreement as a financing arrangement. |
Property and equipment | k) The Company also owns part of a plot acquired for subject 55 years no Furniture, 5 years , Company, which has a useful life of 10 years . Computer software and hardware have a three years . Depreciation is calculated on a straight-line basis. |
Impairment of Long-Lived Assets | l) Long-lived events potential recoverable. charges, expected disposition Measurement of party valuations. For vessels, the Company calculates undiscounted projected net operating cash flows by considering the historical and charter rates for the unfixed days, using 10 -year average of historical 1 year time charter rates available Historical chartering strategy, the Company’s 10-year average of historical 1 year time charter rates is uses the average of historical 1 year time charter rates developing estimates of the vessels’ maintenance; vessel for scrap. fleet vessels’ net book the vessel plus as impairment loss. The recognition of impairment carrying value in 2020 amounting to $ 104,395 . No 2022. For property by property, during the useful No and 2020 and down of the value of its land or building in the near future. |
Vessel Depreciation | m) Depreciation is computed using the straight-line method over the estimated useful life value is equal the useful life of 25 years Second-hand vessels are depreciated from the date of their acquisition through their remaining estimated useful life. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are |
Deferred Costs | n) : special survey the period vessels that are sold or impaired are written off and included in in the year of the vessel’s sale (Note 4) or impairment. |
Financing Costs | o) : Fees paid for obtaining finance liabilities, fees paid to lenders for obtaining new loans, as deferred. Fees relating the balance Unamortized fees relating to are included in the determination of the period case, they are capitalized to the vessels’ cost. |
Concentration of Credit Risk | p) : significant Company financial institutions that with accounts receivable generally mitigate credit risk. |
Accounting for Revenues and Expenses | q) Revenues agreements which contain the conditions. All of the the charterer pays a daily hire insurance premiums for navigating in from time charter thus recognized service is performed. of the in charterers, difference in from the the Company when the vessel is delivered to a new charterer (Note 10). Under a time charter agreement, the owner pays repairs, which are recognized in operating expenses. the maintenance of the same Additionally, assessed that charter contracts. to an vessel. The accounted together under criteria to recognize as revenue have not been met. |
Repairs and Maintenance | r) expenses are expensed in the year incurred. Such costs are included in vessel operating expenses in the accompanying consolidated statements of operations. |
Earnings / (loss) per Common Share | s) by common satisfaction earnings/(loss) per share per common common stock were exercised. |
Segmental Reporting | t) The Company identified generation, the services environment. they do and the Company does not evaluate the operating Capesize etc.) |
Fair Value Measurements | u) : The Company classifies and discloses its assets and liabilities at fair value in assets or liabilities; by market data; Level 3: Unobservable inputs that are not corroborated |
Share Based Payments | v) their grant date fair value and are not subsequently re-measured. during which an employee is required to provide service in period (usually employees Forfeitures of grant date, incremental compensation cost will be recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original |
Equity method investments | w) exercises accounting. Under this method, the Company amount for the recognized earnings investment. When the the support to liability because the Company absorbed such losses (Note 3(c)). The Company also evaluates whether a loss in value of an investment that is loss in of the investee to sustain an earnings capacity that would |
Going concern | x) Management evaluates, at each events that raise substantial doubt about the Company's ability to continue as a going concern within one year from the date the financial statements are issued. |
Shares repurchased and retired | y) The immediately cancelled and the Company’s share capital is accordingly reduced. Any excess of the shares 30, Treasury Stock. |
Financial Instruments, credit losses | z) : At each assets individually for credit on such financial asset. When financial assets present similar risk characteristics, these are evaluated on a available information events, Company receivable due and determined that part of the amount may not be recoverable. December 31, 2021, an allowance for 300 , based on probability of default there (income)/loss” reversed (income)/loss” in No identified and recorded in 2020 and 2022. |
Financial Instruments, Recognition and Measurement | aa) According Company has qualify for Fair Value Measurement to estimate per share (or changes in orderly equity securities at fair value as continue to with without a readily determinable fair value qualifies to Company may securities at election is Company also evaluates indicators such concern Company will estimate the fair value of the investment to determine |
Non-monetary transactions | ab) Non-monetary transactions fair values of asset relinquished is determinable Transactions, Overall, and Reverse Spinoffs, not meet the definition of a business under ASC 805, the nonreciprocal transfer of nonmonetary assets is accounted for at fair value, if the fair value of the nonmonetary asset distributed is objectively measurable and distribution, and value of the the transferee in proportion to an ownership interest the Definition of a are concentrated in consolidated subsidiary of nonmonetary assets to owners are accounted for at fair value if the fair value of distributed is objectively measurable and would be clearly sale at or near the time of the distribution. |
Contracts in entity's equity | ac) considered equity settlement. contains an explicit fails settled top-off Liabilities from Equity” and ASC 815 “Derivatives and Hedging” to determine whether the warrants issued should be classified as permanent equity, temporary equity or warrants are classification. |
New Accounting Pronouncements - Not Yet Adopted | New Accounting Pronouncements - Not Yet Adopted In Effects exceptions reference rate reform. expected to be terminated for amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period are available must be applied prospectively for all eligible contract modifications entity may elect to apply beginning entered into certain those optional ASU No. 2022-06, Deferral of optional LIBOR) accounting for the sunset date of to LIBOR and the Company rate to be and elected to use term SOFR as a when the agreements to term SOFR will have a significant impact in its results of operations |
Advances for vessel acquisiti_2
Advances for vessel acquisitions and Vessels, net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Advances for vessel acquisitions and Vessels, net | |
Schedule of Vessels, net in the accompanying consolidated balance sheets | Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2020 $ 872,431 $ (156,253) $ 716,178 - Additions for improvements 1,106 - 1,106 - Additions for improvements reclassified from other non- current assets 441 - 441 - Vessel disposals (16,120) 7,110 (9,010) - Vessels contributed to OceanPal (47,429) 17,127 (30,302) - Depreciation for the year - (34,963) (34,963) Balance, December 31, 2021 $ 810,429 $ (166,979) $ 643,450 - Additions for vessel acquisitions and improvements 358,504 - 358,504 - Additions for improvements reclassified from other non- current assets 1,370 - 1,370 - Vessel disposals (29,175) 12,453 (16,722) - Depreciation for the year - (36,986) (36,986) Balance, December 31, 2022 $ 1,141,128 $ (191,512) $ 949,616 |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property and Equipment, net | |
Schedule of property and equipment | Property and Equipment Accumulated Depreciation Net Book Value Balance, December 31, 2020 $ 27,198 $ (5,494) $ 21,704 - Additions in property and equipment 1,600 - 1,600 - Depreciation for the year - (462) (462) - Disposal of assets (529) 529 - Balance, December 31, 2021 $ 28,269 $ (5,427) $ 22,842 - Additions in property and equipment 667 - 667 - Depreciation for the year - (546) (546) Balance, December 31, 2022 $ 28,936 $ (5,973) $ 22,963 |
Long-term debt (Tables)
Long-term debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Long-term debt | |
Schedule of Long-term Debt Instruments | 2022 2021 Senior unsecured bond 125,000 125,000 Secured long-term debt 405,120 306,843 Total long-term $ 530,120 $ 431,843 Less: Deferred financing costs (7,609) (8,168) Long-term debt, net of deferred financing costs $ 522,511 $ 423,675 Less: Current long-term debt, net of deferred financing current (91,495) (41,148) Long-term debt, excluding current maturities $ 431,016 $ 382,527 |
Schedule of Maturities of Long-term Debt | Period Principal Repayment Year 1 $ 93,830 Year 2 112,645 Year 3 26,615 Year 4 161,207 Year 5 119,605 Year 6 and 16,218 Total $ 530,120 |
Finance Liabilities (Tables)
Finance Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Finance Liabilities | |
Analysis of Finance Liabilities on Balance Sheets | 2022 Finance liabilities 142,370 Less: Deferred financing costs (1,439) Finance liabilities, net of deferred financing costs $ 140,931 Less: Current finance liabilities, net of deferred financing (8,802) Finance liabilities, excluding current maturities $ 132,129 |
Annual Lease Liabilities | Period Principal Repayment Year 1 $ 9,033 Year 2 9,437 Year 3 9,808 Year 4 10,224 Year 5 10,661 Year 6 and 93,207 Total $ 142,370 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies | |
Schedule of fixed non cancelable time charter contracts | Period Amount Year 1 $ 163,438 Year 2 22,980 Year 3 9,454 Year 4 9,454 Year 5 725 $ 206,051 |
Capital Stock and Changes in _2
Capital Stock and Changes in Capital Accounts (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Capital Stock and Changes in Capital Accounts | |
Schedule of share-based compensation restricted stock and restricted stock units activity | Number of Shares Weighted Average Grant Date Price Outstanding at December 31, 2019 3,833,233 $ 3.63 Granted 2,200,000 2.72 Vested (3,610,221) 3.52 Outstanding at December 31, 2020 2,423,012 $ 2.95 Granted 8,260,000 2.85 Vested (1,168,363) 3.20 Outstanding at December 31, 2021 9,514,649 $ 2.83 Granted 1,470,000 4.15 Vested (3,118,060) 2.86 Outstanding at December 31, 2022 7,866,589 $ 3.07 |
Voyage expenses (Tables)
Voyage expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Voyage expenses | |
Schedule of voyage expenses analysis | 2022 2021 2020 Commissions $ 14,412 $ 10,794 $ 8,310 (Gain)/loss from bunkers (8,100) (5,955) 3,708 Port expenses and other 630 731 1,507 Total $ 6,942 $ 5,570 $ 13,525 |
Interest and Finance Costs (Tab
Interest and Finance Costs (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Interest and Finance Costs | |
Schedule Of Interest And Finance Costs | 2022 2021 2020 Interest expense, debt $ 21,983 $ 18,067 $ 20,163 Finance liabilities interest expense 2,735 - - Amortization of debt and finance liabilities issuance costs 2,286 1,865 1,066 Loan and other expenses 415 307 285 Interest expense and finance costs $ 27,419 $ 20,239 $ 21,514 |
Earnings (loss) per Share (Tabl
Earnings (loss) per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings/(loss) per Share | |
Schedule of Earnings Per Share, Basic and Diluted | 2022 2021 2020 Net income/(loss) $ 119,063 $ 57,394 $ (134,197) Dividends on series B preferred shares (5,769) (5,769) (5,769) Net income/(loss) attributable to common stockholders $ 113,294 $ 51,625 $ (139,966) Weighted average number of common shares, basic 80,061,040 81,121,781 86,143,556 Incremental shares 3,257,861 3,735,059 - Weighted average number of common shares, diluted 83,318,901 84,856,840 86,143,556 Earnings/(loss) per share, basic $ 1.42 $ 0.64 $ (1.62) Earnings/(loss) per share, diluted $ 1.36 $ 0.61 $ (1.62) |
Financial Instruments and Fai_2
Financial Instruments and Fair Value Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments and Fair Value Disclosures | |
Schedule of company's charter revenues | Charterer 2022 2021 2020 Cargill International SA 19% 10% 18% Koch Shipping PTE LTD. 15% * 16% *Less than 10% |
Schedule of other fair value measurements | Description (in thousands of US Dollars) December 31, 2021 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Non-recurring fair value measurements Investments in related parties (1) 7,575 7,575 December 31, 2022 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Non-recurring fair value measurements Long-lived assets held for use (2) 67,909 67,909 Total 67,909 67,909 - On November 29, at 5 7,570 , respectively, Company by OceanPal (Note 3(f)). (2) eight agreement with 263,719 , of 195,810 paid in cash and $ 67,909 the Company’s shares on such shares. |
Basis of Presentation and Gen_2
Basis of Presentation and General Information (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Entity Information [Line Items] | |||
Date of incorporation | Mar. 08, 1999 | ||
Diana Wilhelmsen Management Limited [Member] | |||
Entity Information [Line Items] | |||
Equity method investment, ownership percentage | 50% | 50% | 50% |
Significant Accounting Polici_3
Significant Accounting Policies (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounting Policies Disclosure [Line Items] | |||
Accounts receivable, provision for doubtful accounts | $ 0 | $ 0 | |
Impairment | $ 0 | 0 | $ 104,395 |
Impairment Long Lived Asset Held For Use Statement Of Income Or Comprehensive Income Extensible Enumeration | Asset Impairment Charges | ||
Restricted cash, non-current | $ 21,000,000 | 16,500,000 | 20,000,000 |
Vessels' net book value | 949,616,000 | 643,450,000 | 716,178,000 |
Direct Operating Costs | $ 6,942,000 | 5,570,000 | 13,525,000 |
Time period for measurement of time charter rate, input for calculation of vessel impairments | 10 years | ||
Provision for Doubtful Accounts | $ 133,000 | 300,000 | |
Diana Wilhelmsen Management Limited [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Provision for Doubtful Accounts | $ 0 | 300,000 | 0 |
Building [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Property and equipment, estimated useful lives | 55 years | ||
Property and equipment, residual value | $ 0 | ||
Impairment | $ 0 | $ 0 | $ 0 |
Furniture [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Property and equipment, estimated useful lives | P5Y | ||
Office Equipment [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Property and equipment, estimated useful lives | P5Y | ||
Vehicles [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Property and equipment, estimated useful lives | P5Y | ||
Car [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Property and equipment, estimated useful lives | P10Y | ||
Computer Software and Hardware [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Property and equipment, estimated useful lives | P3Y | ||
Vessels [Member] | |||
Accounting Policies Disclosure [Line Items] | |||
Property and equipment, estimated useful lives | 25 years |
Transactions with Related Par_2
Transactions with Related Parties (Altair and Steamship) (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | |||
Due to related parties, current | $ 136,000 | $ 596,000 | |
Altair Travel Agency S.A. [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Amounts of Transaction | 2,644,000 | 2,210,000 | $ 1,854,000 |
Due to related parties, current | 136,000 | 138,000 | |
Steamship Shipbroking Enterprises [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Amounts of Transaction | 3,309,000 | 3,309,000 | 2,653,000 |
Due to related parties, current | 0 | 0 | |
Commissions charged by a related party (Note 4(d)) | $ 1,219,000 | $ 712,000 | $ 576,000 |
Transactions with Related Par_3
Transactions with Related Parties (DWM) (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2022 USD ($) Vessels | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Related Party Transaction [Line Items] | |||
Payments to acquire interest joint venture | $ 375,000 | $ 500,000 | |
Equity method investments | $ 506,000 | 0 | |
Due to related parties, current | 136,000 | 596,000 | |
Gain/(loss) from equity method investments | 894,000 | (333,000) | (1,110,000) |
Management fees to related party | 511,000 | 1,432,000 | $ 2,017,000 |
Due from related parties | 216,000 | 952,000 | |
Provision for credit loss | $ 133,000 | $ 300,000 | |
Diana Wilhelmsen Management Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Equity method investment, ownership percentage | 50% | 50% | 50% |
Equity method investments | $ 506,000 | ||
Diana Wilhelmsen Management Limited [Member] | |||
Related Party Transaction [Line Items] | |||
Due to related parties, current | $ 388,000 | ||
Gain/(loss) from equity method investments | 894,000 | (333,000) | $ (1,110,000) |
Provision for credit loss | 0 | 300,000 | 0 |
Diana Wilhelmsen Management Limited [Member] | Management Agreements [Member] | |||
Related Party Transaction [Line Items] | |||
Management fees to related party | $ 511,000 | 1,432,000 | 2,017,000 |
Number of vessels under new management agreements | Vessels | 4 | ||
Commissions charged by a related party (Note 4(d)) | $ 162,000 | 200,000 | 353,000 |
Due from related parties | 216,000 | 952,000 | |
Provision for credit loss | 300,000 | ||
Diana Wilhelmsen Management Limited [Member] | Advances For Vessel Acquisitions And Vessels, Net [Member] | Management Agreements [Member] | |||
Related Party Transaction [Line Items] | |||
Management fees to related party | $ 272,000 | ||
Each 50% Shareholder of DWM [Member] | |||
Related Party Transaction [Line Items] | |||
Payments to acquire interest joint venture | $ 375,000 | $ 500,000 |
Transactions with Related Par_4
Transactions with Related Parties (Series D Preferred Stock and Sale and Purchase of Bond by Executives) (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 22, 2021 | Dec. 31, 2021 | |
Related Party Transaction [Line Items] | ||
Proceeds from issuance of stock, net of expenses | $ 254 | |
Purchase of Bond by executives | 8.375% Senior Unsecured Bond | ||
Related Party Transaction [Line Items] | ||
Proceeds from Issuance of Unsecured Debt | $ 21,000 | |
Series D Preferred Stock [Member] | Mrs. Semiramis Paliou | ||
Related Party Transaction [Line Items] | ||
Issuance of new shares | 400 | |
Proceeds from issuance of stock, net of expenses | $ 254 |
Transactions with Related Par_5
Transactions with Related Parties (OceanPal) (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||||
Dec. 15, 2022 USD ($) shares | Sep. 20, 2022 USD ($) $ / shares shares | Nov. 29, 2021 USD ($) $ / shares | Nov. 30, 2021 USD ($) Vessels shares | Dec. 31, 2022 USD ($) shares $ / shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($) | |
Related Party Transaction [Line Items] | |||||||
Gain on spin-off of OceanPal Inc. | $ 15,252,000 | ||||||
Preferred shares, par value | $ 7,744,000 | 7,644,000 | |||||
Accrued dividends | 100,000 | 69,000 | |||||
Due to related parties, current | 136,000 | 596,000 | |||||
Cash and cash equivalents | 76,428,000 | 110,288,000 | $ 62,909,000 | ||||
Equity Securities Fv-Ni Realized Gain | 589,000 | ||||||
Vessels | 1,141,128,000 | 810,429,000 | $ 872,431,000 | ||||
OceanPal [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Accrued dividends | $ 917,000 | 69,000 | |||||
OceanPal [Member] | Spin Off [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Number of vessel owing subsidiary shares as capital contribution | Vessels | 3 | ||||||
Percentage of common stock to be exchanged | 100% | ||||||
Fair value | 7,575,000 | ||||||
Gain on spin-off of OceanPal Inc. | $ 15,252,000 | ||||||
Cash and cash equivalents | $ 1,000,000 | ||||||
Fair value | $ 48,084,000 | ||||||
OceanPal [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Maximum total number of votes entitled to vote, including common stock or any other voting security | 49% | ||||||
Preferred shares, par value | $ 7,744,000 | 7,644,000 | |||||
Accrued dividends | $ 169,000 | 69,000 | |||||
Due to related parties, current | $ 70,000 | ||||||
OceanPal [Member] | Baltimore [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Proceeds from sale of productive assets | $ 4,400,000 | ||||||
Purchase price of vessel | $ 22,000,000 | ||||||
OceanPal [Member] | Baltimore [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Maximum percentage of votes as a percentage of total votes | 49% | ||||||
Series B Preferred Stock [Member] | OceanPal [Member] | Spin Off [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Shares exchanged for working capital contribution | shares | 500,000 | 500,000 | |||||
Series B Preferred Stock [Member] | OceanPal [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Number of votes of stockholders | shares | 2,000 | ||||||
Maximum percentage of votes as a percentage of total votes | 34% | ||||||
Equity Securities, fair value | $ 5,000 | ||||||
Series C Convertible Preferred Stock [Member] | OceanPal [Member] | Spin Off [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Shares exchanged for working capital contribution | shares | 10,000 | 10,000 | |||||
Series C Preferred Stock [Member] | OceanPal [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Conversion price | $ / shares | $ 6.5 | ||||||
Cumulative preferred dividend accruing rate | 8% | ||||||
Preferred stock liquidation preference per share | $ / shares | $ 10,000 | ||||||
Equity Securities, fair value | $ 7,570,000 | ||||||
Series D Preferred Stock [Member] | OceanPal [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Issuance of new shares | shares | 9,172 | 25,000 | |||||
Cumulative preferred dividend accruing rate | 7% | ||||||
Par value | $ / shares | $ 0.01 | ||||||
Preferred stock liquidation preference per share | $ / shares | $ 1,000 | ||||||
Series D Preferred Stock [Member] | OceanPal [Member] | Baltimore [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Equity Securities Fv-Ni Realized Gain | $ 589,000 | ||||||
Balance amount through preferred shares, sale consideration received | $ 17,600,000 | ||||||
Investments, fair value | $ 17,600,000 | ||||||
Series D Preferred Stock [Member] | OceanPal [Member] | Baltimore [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Equity Securities Fv-Ni Realized Gain | $ 589,000 | ||||||
Equity Securities, fair value | $ 18,189,000 | ||||||
Common Stock [Member] | OceanPal [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Issuance of new shares | shares | 72,011,457 |
Advances for vessel acquisiti_3
Advances for vessel acquisitions and Vessels, net (Narrative) (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Aug. 10, 2022 USD ($) shares | Jun. 13, 2022 USD ($) | Dec. 03, 2021 USD ($) | Jul. 15, 2021 USD ($) | Aug. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) Vessels | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Aug. 11, 2022 shares | |
Property, Plant and Equipment [Line Items] | ||||||||||
Reclassification to Vessels | $ 1,370 | $ 441 | ||||||||
Asset Acquisition [Line Items] | ||||||||||
Number of warrants | shares | 18,487,393 | |||||||||
Number Of Vessels Delivered To Company | Vessels | 8 | |||||||||
Advances for vessel acquisitions | $ 24,123 | 24,123 | 16,287 | |||||||
Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Gain (loss) from sale of vessels | (2,850) | (1,360) | $ 1,085 | |||||||
Vessels' net book value | 949,616 | 949,616 | 643,450 | 716,178 | ||||||
Vessels | 1,141,128 | 1,141,128 | $ 810,429 | $ 872,431 | ||||||
Najas | ||||||||||
Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Sale price of vessel | 11,250 | 11,250 | ||||||||
Gain (loss) from sale of vessels | (1,564) | |||||||||
Vessels' net book value | 9,010 | 9,010 | ||||||||
Baltimore | ||||||||||
Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Sale price of vessel | 22,000 | 22,000 | ||||||||
Gain (loss) from sale of vessels | $ (2,850) | |||||||||
Unamortized deferred costs | $ 41 | |||||||||
Vessels' net book value | 16,722 | 16,722 | ||||||||
Vessel Acquisitions | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Advances for vessels acquisitions held at an escrow account | $ 20,571 | 20,571 | ||||||||
Leonidas P.C. | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Advances for vessel acquisitions | $ 4,400 | |||||||||
Percentage of advance amount paid | 20% | |||||||||
Additional predelivery expenses. | $ 927 | |||||||||
Purchase price of vessel acquired | $ 22,000 | |||||||||
Florida | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Advances for vessel acquisitions | $ 11,855 | |||||||||
Percentage of advance amount paid | 20% | |||||||||
Additional predelivery expenses. | $ 1,504 | |||||||||
Purchase price of vessel acquired | $ 59,275 | |||||||||
Nine Ultramax vessels | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Total amount of equity interest | $ 110,000 | |||||||||
Eight of nine Utramax vessels | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Additional predelivery expenses. | $ 4,364 | |||||||||
Purchase price of vessel acquired | 263,719 | |||||||||
Total amount of equity interest | $ 67,909 | |||||||||
Ninth of nine Ultramax vessels | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Additional predelivery expenses. | $ 169 | |||||||||
Ultramax | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Asset acquisition price of acquisition expected | 330,000 | |||||||||
Amount to be paid in cash | $ 220,000 | |||||||||
Ultramax | Newly Issued Common Shares, Issuable On Delivery Of Each Vessel [Member] | ||||||||||
Asset Acquisition [Line Items] | ||||||||||
Number of warrants | shares | 18,487,393 | |||||||||
Class Of Warrant Or Right Unissued | shares | 9 |
Advances for vessel acquisiti_4
Advances for vessel acquisitions and Vessels, net (Schedule of Vessels, net in the accompanying consolidated balance sheets) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Vessel Cost | ||
Beginning balance | $ 810,429 | $ 872,431 |
Vessels additions and improvements | 358,504 | 1,106 |
Reclassification to Vessels | 1,370 | 441 |
Vessel disposals | (29,175) | (16,120) |
Vessels contributed to OceanPal | (47,429) | |
Ending balance | 1,141,128 | 810,429 |
Accumulated Depreciation | ||
Beginning balance | (166,979) | (156,253) |
Vessel disposals | 12,453 | 7,110 |
Vessels contributed to OceanPal | 17,127 | |
Depreciation for the year | (36,986) | (34,963) |
Ending balance | (191,512) | (166,979) |
Net Book Value | ||
Beginning balance | 643,450 | 716,178 |
Vessels additions and improvements | 358,504 | 1,106 |
Reclassification to Vessels | 1,370 | 441 |
Vessel disposal | (16,722) | (9,010) |
Vessels contributed to OceanPal | (30,302) | |
Depreciation for the year | (36,986) | (34,963) |
Ending balance | $ 949,616 | $ 643,450 |
Property and Equipment, net (Na
Property and Equipment, net (Narrative) (Details) - DSS $ in Thousands, € in Millions | 1 Months Ended | |
Nov. 30, 2021 EUR (€) | Nov. 30, 2021 USD ($) | |
Percentage of land acquired | 33.33% | 33.33% |
Purchase price of land | € | € 1.1 | |
Payments To Acquire Land Held For Use | $ | $ 1,358 |
Property and Equipment, net (Sc
Property and Equipment, net (Schedule of property and equipment) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Movement in Property, Plant and Equipment [Roll Forward] | ||
Property and Equipment, Beginning Balance | $ 28,269 | $ 27,198 |
Additions in property and equipment | 667 | 1,600 |
Disposal of assets | (529) | |
Property and Equipment, Ending Balance | 28,936 | 28,269 |
Movement in Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment [Roll Forward] | ||
Accumulated Depreciation, Property and Equipment, Beginning Balance | (5,427) | (5,494) |
Depreciation for the year | (546) | (462) |
Disposal of assets | 529 | |
Accumulated Depreciation, Property and Equipment, Ending Balance | (5,973) | (5,427) |
Property, Plant and Equipment, Net, by Type [Abstract] | ||
Property And Equipment Net, Beginning Balance | 22,842 | 21,704 |
Additions in property and equipment | 667 | 1,600 |
Depreciation for the year | (546) | (462) |
Property And Equipment Net, Ending Balance | $ 22,963 | $ 22,842 |
Long-term debt (Narrative I) (D
Long-term debt (Narrative I) (Details) $ in Thousands | 12 Months Ended | |||||||
Sep. 27, 2021 | Jun. 22, 2021 USD ($) | Sep. 27, 2018 USD ($) | Dec. 19, 2014 USD ($) | Dec. 31, 2022 USD ($) Vessels | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jul. 07, 2020 USD ($) | |
Debt Instrument [Line Items] | ||||||||
Gain on extinguishment of Debt | $ (435) | $ (980) | $ 374 | |||||
Minimum cash deposits required to be maintained | $ 21,000 | $ 16,500 | 20,000 | |||||
Secured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Number Of Vessels Collateral For Debt | Vessels | 34 | |||||||
Long-term Debt, Weighted Average Interest Rate | 3.80% | 2.45% | ||||||
Debt Instrument Collateral Amount | $ 722,961 | |||||||
Minimum cash deposits required to be maintained | $ 21,000 | $ 16,500 | ||||||
8.375% Senior Unsecured Bond | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Issuance Date | Jun. 22, 2021 | |||||||
Debt Instrument, Face Amount | $ 125,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.375% | |||||||
8.375% Senior Unsecured Bond | Officers And Directors | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from Issuance of Unsecured Debt | $ 21,000 | |||||||
8.375% Senior Unsecured Bond | June 2024 to May 2025 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 103.35% | |||||||
8.375% Senior Unsecured Bond | June 2025 to December 2025 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 101.675% | |||||||
8.375% Senior Unsecured Bond | After December 2025 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 100% | |||||||
9.5% Senior Unsecured Bond | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Issuance Date | Sep. 27, 2018 | |||||||
Debt Instrument, Face Amount | $ 100,000 | |||||||
Debt Instrument, Payment Terms | payable semi-annually in arrears in March and September of each year | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.50% | |||||||
Debt Instrument, Redemption Price, Percentage | 103.80% | 106.25% | ||||||
Fees paid | 5,272 | |||||||
Gain on extinguishment of Debt | (57) | |||||||
Repurchased bonds | $ 78,838 | |||||||
Nominal value of bond repurchased | 74,200 | $ 8,000 | ||||||
Debt Instrument, Call Feature | The bond was callable in whole or in parts in three years at a price equal to 103.8% of nominal value; in four years at a price equal to 101.9% of the nominal value and in four and a half years at a price equal to 100% of nominal value. | |||||||
Gain (Loss) on Repurchase of Debt Instrument | $ (880) | $ 374 | ||||||
Debt extinguishment, amount | 800 | |||||||
Debt refinanced, amount excluding extinguishment | $ 73,400 | |||||||
9.5% Senior Unsecured Bond | Officers And Directors | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from Issuance of Unsecured Debt | $ 16,200 | |||||||
9.5% Senior Unsecured Bond | In three years [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 103.80% | |||||||
9.5% Senior Unsecured Bond | In four years [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 101.90% | |||||||
9.5% Senior Unsecured Bond | In four and a half years [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 100% | |||||||
BNP Paribas [Member] | Secured Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds From Issuance Of Secured Debt | $ 53,500 | |||||||
Debt Instrument, Maturity Date | Nov. 30, 2021 |
Long-term debt (Narrative II) (
Long-term debt (Narrative II) (Details) - Export-Import Bank of China and DnB NOR Bank ASA [Member] - Secured Debt [Member] $ in Thousands | 12 Months Ended | |
Feb. 15, 2012 USD ($) | Dec. 31, 2022 USD ($) Installments | |
First Tranche [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Issuance Date | Feb. 15, 2012 | |
Proceeds From Issuance Of Secured Debt | $ 37,450 | |
Debt Instrument, Number of installments | Installments | 40 | |
Debt Instrument, Frequency of Periodic Payments | quarterly | |
Debt Instrument, Periodic Payment, Principal | $ 628 | |
Debt Instrument, Balloon Payment | $ 12,332 | |
Debt Instrument, Maturity Date | Feb. 15, 2022 | |
Second Tranche [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Issuance Date | May 18, 2012 | |
Proceeds From Issuance Of Secured Debt | $ 34,640 | |
Debt Instrument, Number of installments | Installments | 40 | |
Debt Instrument, Frequency of Periodic Payments | quarterly | |
Debt Instrument, Periodic Payment, Principal | $ 581 | |
Debt Instrument, Balloon Payment | $ 11,410 | |
Debt Instrument, Maturity Date | May 18, 2022 | |
Second Tranche [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Loan Margin Percentage | 2.50% |
Long-term debt (Narrative III)
Long-term debt (Narrative III) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 12, 2022 USD ($) | Sep. 30, 2022 USD ($) Vessels | Jul. 30, 2021 USD ($) | Jun. 29, 2020 USD ($) | Jul. 16, 2018 USD ($) | Mar. 19, 2015 USD ($) | Dec. 19, 2014 USD ($) | Jan. 13, 2014 USD ($) | Jul. 31, 2022 USD ($) | Mar. 19, 2015 | Dec. 31, 2022 USD ($) Installments | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Debt Instrument [Line Items] | |||||||||||||
Loan expenses and other | $ 415,000 | $ 307,000 | $ 285,000 | ||||||||||
Commonwealth Bank of Australia, London Branch [Member] | Secured Debt [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Proceeds From Issuance Of Secured Debt | $ 9,500,000 | ||||||||||||
Debt Instrument, Number of installments | Installments | 32 | ||||||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 156,000 | ||||||||||||
Debt Instrument, Balloon Payment | $ 4,500,000 | ||||||||||||
Debt Instrument, Maturity Date | Jan. 13, 2022 | ||||||||||||
Debt Instrument, Description of Variable Rate Basis | LIBOR | ||||||||||||
Commonwealth Bank of Australia, London Branch [Member] | Secured Debt [Member] | LIBOR [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Loan Margin Percentage | 2.25% | ||||||||||||
BNP Paribas [Member] | Secured Debt [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Proceeds From Issuance Of Secured Debt | $ 53,500,000 | ||||||||||||
Debt Instrument, Maturity Date | Nov. 30, 2021 | ||||||||||||
BNP Paribas [Member] | Secured Debt [Member] | Second Agreement [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Proceeds From Issuance Of Secured Debt | $ 75,000,000 | ||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 1,574,000 | 1,562,500 | |||||||||||
Debt Instrument, Balloon Payment | $ 23,596,000 | $ 43,750,000 | |||||||||||
Debt Instrument, Maturity Date | May 19, 2024 | Jul. 17, 2023 | |||||||||||
BNP Paribas [Member] | Secured Debt [Member] | Second Agreement [Member] | LIBOR [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Loan Margin Percentage | 2.50% | 2.30% | |||||||||||
Nordea Bank AB, London Branch [Member] | Secured Debt [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Proceeds From Issuance Of Secured Debt | $ 93,080,000 | ||||||||||||
Debt Instrument, Maturity Date | Mar. 19, 2021 | ||||||||||||
Nordea Bank AB, London Branch [Member] | Secured Debt [Member] | LIBOR [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Loan Margin Percentage | 2.10% | ||||||||||||
Nordea Bank AB, London Branch [Member] | Secured Debt [Member] | Refinancing Agreement | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Proceeds From Issuance Of Secured Debt | $ 460,000 | ||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,862,000 | ||||||||||||
Debt Instrument, Balloon Payment | $ 26,522,000 | ||||||||||||
Debt Instrument, Maturity Date | Mar. 19, 2024 | ||||||||||||
Repayment of secured loan agreement | $ 4,786,000 | ||||||||||||
Nordea Bank AB, London Branch [Member] | Secured Debt [Member] | New Repayments Terms Following July2022 Prepayment [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 1,636,000 | ||||||||||||
Debt Instrument, Balloon Payment | $ 23,313,000 | ||||||||||||
Debt Instrument, Maturity Date | Mar. 19, 2024 | ||||||||||||
Nordea Bank AB, London Branch [Member] | Secured Debt [Member] | Loan Agreement - 9 Ultramax Vessels [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Proceeds From Issuance Of Secured Debt | $ 197,236,000 | ||||||||||||
Debt Instrument, Number of installments | Installments | 20 | ||||||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 3,719,000 | ||||||||||||
Debt Instrument, Balloon Payment | $ 100,912,000 | ||||||||||||
Debt Instrument, Maturity Date | Oct. 11, 2027 | ||||||||||||
Repayment of secured loan agreement | $ 21,937,000 | ||||||||||||
Debt Instrument, Face Amount | $ 200,000,000 | ||||||||||||
Number of vessels priced | Vessels | 9 | ||||||||||||
Loan fees | $ 2,069,000 | ||||||||||||
Loan expenses and other | $ 191,000 | ||||||||||||
Nordea Bank AB, London Branch [Member] | Secured Debt [Member] | Loan Agreement - 9 Ultramax Vessels [Member] | SOFR [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Loan Margin Percentage | 2.25% |
Long-term debt (Narrative IV))
Long-term debt (Narrative IV)) (Details) - Secured Debt [Member] | 2 Months Ended | 4 Months Ended | 12 Months Ended | ||||||
Aug. 22, 2022 USD ($) | May 20, 2021 USD ($) | May 22, 2020 USD ($) | Jan. 04, 2017 USD ($) | Nov. 19, 2015 USD ($) Installments | Oct. 06, 2015 USD ($) Installments | Mar. 14, 2019 USD ($) | Apr. 30, 2015 USD ($) | Dec. 31, 2022 USD ($) Installments | |
ABN AMRO Bank N.V. [Member] | Third Agreement [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds From Issuance Of Secured Debt | $ 91,000,000 | ||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 1,980,000 | 3,390,000 | |||||||
Debt Instrument, Balloon Payment | $ 13,553,000 | $ 23,200,000 | |||||||
Debt Instrument, Maturity Date | May 20, 2026 | May 20, 2026 | |||||||
Repayment of secured loan agreement | $ 30,791,000 | ||||||||
ABN AMRO Bank N.V. [Member] | Third Agreement [Member] | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loan Margin Percentage | 2.15% | ||||||||
Maximum annual increase (decrease) to basis rate | 10% | ||||||||
ABN AMRO Bank N.V. [Member] | Term loan facility | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds From Issuance Of Secured Debt | $ 52,885,000 | ||||||||
ABN AMRO Bank N.V. [Member] | Term loan facility | First Tranche [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 800,000 | ||||||||
Debt Instrument, Balloon Payment | $ 9,000,000 | ||||||||
Debt Instrument, Maturity Date | Jun. 28, 2024 | ||||||||
ABN AMRO Bank N.V. [Member] | Term loan facility | First Tranche [Member] | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loan Margin Percentage | 2.25% | ||||||||
ABN AMRO Bank N.V. [Member] | Term loan facility | Second Tranche [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 994,000 | ||||||||
Debt Instrument, Balloon Payment | $ 13,391,000 | ||||||||
Debt Instrument, Maturity Date | Jun. 28, 2024 | ||||||||
ABN AMRO Bank N.V. [Member] | Term loan facility | Second Tranche [Member] | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loan Margin Percentage | 2.40% | ||||||||
Danish Ship Finance A/S | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds From Issuance Of Secured Debt | $ 30,000,000 | ||||||||
Debt Instrument, Number of installments | Installments | 28 | ||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 500,000 | ||||||||
Debt Instrument, Balloon Payment | $ 16,000,000 | ||||||||
Debt Instrument, Maturity Date | Apr. 30, 2022 | ||||||||
Danish Ship Finance A/S | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loan Margin Percentage | 2.15% | ||||||||
ING Bank N.V. [Member] | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loan Margin Percentage | 1.65% | ||||||||
ING Bank N.V. [Member] | First Tranche [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds From Issuance Of Secured Debt | $ 27,950,000 | ||||||||
Debt Instrument, Number of installments | Installments | 28 | ||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 466,000 | ||||||||
Debt Instrument, Balloon Payment | $ 14,907,000 | ||||||||
Debt Instrument, Maturity Date | Nov. 19, 2022 | ||||||||
ING Bank N.V. [Member] | Second Tranche [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds From Issuance Of Secured Debt | $ 11,733,000 | ||||||||
Debt Instrument, Number of installments | Installments | 28 | ||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 293,000 | ||||||||
Debt Instrument, Balloon Payment | $ 3,520,000 | ||||||||
Debt Instrument, Maturity Date | Oct. 06, 2022 | ||||||||
Export-Import Bank of China [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds From Issuance Of Secured Debt | $ 57,240,000 | ||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 954,000 | ||||||||
Debt Instrument, Maturity Date | Jan. 04, 2032 | ||||||||
Export-Import Bank of China [Member] | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loan Margin Percentage | 2.30% | ||||||||
DNB Bank ASA [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds From Issuance Of Secured Debt | $ 19,000,000 | ||||||||
Debt Instrument, Frequency of Periodic Payments | quarterly | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 477,300 | ||||||||
Debt Instrument, Balloon Payment | $ 9,454,000 | ||||||||
Debt Instrument, Maturity Date | Mar. 14, 2024 | ||||||||
DNB Bank ASA [Member] | LIBOR [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loan Margin Percentage | 2.40% |
Long-term debt (Schedule of Lon
Long-term debt (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Long-term debt | ||
Senior unsecured bond | $ 125,000 | $ 125,000 |
Secured long-term debt | 405,120 | 306,843 |
Total long-term debt | 530,120 | 431,843 |
Less: Deferred financing costs | (7,609) | (8,168) |
Long-term debt, net of deferred financing costs | 522,511 | 423,675 |
Less: Current portion of long term debt, net of deferred financing costs current | (91,495) | (41,148) |
Long-term debt, excluding current maturities | $ 431,016 | $ 382,527 |
Long-term debt (Schedule of Mat
Long-term debt (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Maturities of Long-term Debt [Abstract] | ||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $ 93,830 | |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 112,645 | |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 26,615 | |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 161,207 | |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 119,605 | |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 16,218 | |
Total long-term debt | $ 530,120 | $ 431,843 |
Finance Liabilities (Narrative)
Finance Liabilities (Narrative) (Details) $ in Thousands | 12 Months Ended | |||||
Dec. 06, 2022 USD ($) | Aug. 17, 2022 USD ($) Vessels | Mar. 29, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Property, Plant and Equipment [Line Items] | ||||||
Finance Lease Liability | $ 140,931 | |||||
Lease obligation issuance costs | $ 3,302 | $ 7,594 | $ 567 | |||
Weighted average remaining lease term | 8 years 8 months 8 days | |||||
Average interest rate | 4.61% | |||||
Florida 2022 Built Capesize Vessel [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Finance Lease Liability | $ 50,000 | |||||
Term for bareboat charter party | 10 years | |||||
Lease obligation to purchase vessel | $ 16,350 | |||||
Lease obligation issuance costs | $ 513 | |||||
New Orleans And Santa Barbara Vessels [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Finance Lease Liability | $ 66,400 | |||||
Term for bareboat charter party | 8 years | |||||
Lease obligation issuance costs | $ 665 | |||||
Number of sale and leaseback agreements | Vessels | 2 | |||||
New Orleans Vessel [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Lease obligation to purchase vessel | $ 13,000 | |||||
Santa Barbara Vessel [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Lease obligation to purchase vessel | $ 13,000 | |||||
DSI Andromeda [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Finance Lease Liability | $ 29,850 | |||||
Term for bareboat charter party | 10 years | |||||
Lease obligation to purchase vessel | $ 8,050 | |||||
Lease obligation issuance costs | $ 354 |
Finance Liabilities (Analysis o
Finance Liabilities (Analysis of Finance Liabilities on Balance Sheets) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Finance Liabilities | ||
Total finance liabilities | $ 142,370 | |
Finance liabilities, net of deferred financing costs | 140,931 | |
Less: Current finance liabilities, net of deferred financing costs, current | (8,802) | $ 0 |
Finance liabilities, excluding current maturities | 132,129 | 0 |
Lessee Lease Description [Line Items] | ||
Less: Deferred financing costs | (7,609) | $ (8,168) |
Finance Liabilities [Member] | ||
Lessee Lease Description [Line Items] | ||
Less: Deferred financing costs | $ (1,439) |
Finance Liabilities (Annual Lea
Finance Liabilities (Annual Lease Liabilities) (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Finance Liabilities | |
Year 1 | $ 9,033 |
Year 2 | 9,437 |
Year 3 | 9,808 |
Year 4 | 10,224 |
Year 5 | 10,661 |
Year 6 and thereafter | 93,207 |
Total finance liabilities | $ 142,370 |
Commitments and Contingencies_2
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Sep. 23, 2021 | |
Loss Contingencies [Line Items] | ||
Insurance maximum amount | $ 1,000,000 | |
Insurance Recoveries | 1,789 | |
Total amount of fine | $ 2,000 | |
Diana Wilhelmsen Management Limited (DWM) | ||
Loss Contingencies [Line Items] | ||
Due From Related Parties | $ 1,000 |
Commitments and Contingencies_3
Commitments and Contingencies (Schedule of fixed non cancelable time charter contracts) (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
Year 1 | $ 163,438 |
Year 2 | 22,980 |
Year 3 | 9,454 |
Year 4 | 9,454 |
Year 5 | 725 |
Total | $ 206,051 |
Capital Stock and Changes in _3
Capital Stock and Changes in Capital Accounts (Narrative stocks) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 15, 2022 USD ($) $ / shares | Aug. 19, 2022 $ / shares | Jun. 17, 2022 $ / shares | Mar. 21, 2022 $ / shares | Nov. 29, 2021 USD ($) | Jun. 22, 2021 USD ($) $ / shares shares | Dec. 31, 2021 $ / shares shares | Aug. 31, 2021 $ / shares shares | Feb. 28, 2021 $ / shares shares | Mar. 31, 2020 $ / shares shares | Feb. 28, 2020 $ / shares shares | Dec. 31, 2022 shares $ / shares | Dec. 31, 2022 USD ($) shares $ / shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) shares | |
Class Of Stock [Line Items] | |||||||||||||||
Cash dividends on preferred stock | $ | $ 5,769,000 | $ 5,769,000 | $ 5,769,000 | ||||||||||||
Payments for repurchase of common stock | $ | 3,799,000 | 45,369,000 | 11,999,000 | ||||||||||||
Proceeds from issuance of stock, net of expenses | $ | 254,000 | ||||||||||||||
Cash dividend | $ | 79,812,000 | 8,820,000 | |||||||||||||
Dividends in stock, value | $ | $ 40,509,000 | 40,509,000 | |||||||||||||
Dividends Paid-in-kind | $ | $ 18,189,000 | 18,189,000 | |||||||||||||
Issuance of stock | $ | $ 5,322,000 | 254,000 | |||||||||||||
Dividends Paid-in-kind, per share | $ / shares | $ 0.18 | ||||||||||||||
ATM Program [Member] | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Shares issued price per share | $ / shares | $ 6.27 | $ 6.27 | |||||||||||||
Issuance of stock | $ | $ 5,322,000 | ||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Cash dividends on preferred stock | $ | $ 5,769,000 | $ 5,769,000 | $ 5,769,000 | ||||||||||||
Series D Preferred Stock [Member] | Mrs. Semiramis Paliou | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Issuance of new shares | 400 | ||||||||||||||
Preferred stock, Par value per share | $ / shares | $ 0.01 | ||||||||||||||
Cash dividends on preferred stock | $ | $ 0 | ||||||||||||||
Preferred stock number of voting rights | 100,000 | ||||||||||||||
Preferred Stock [Member] | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Preferred stock, Shares authorized | 25,000,000 | 25,000,000 | 25,000,000 | 25,000,000 | |||||||||||
Preferred stock, Par value per share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||
Preferred Stock [Member] | Series A Participating Preferred Stock | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Preferred stock, Shares authorized | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||
Issuance of preferred stock, shares | 0 | 0 | 0 | 0 | |||||||||||
Preferred stock, Shares outstanding | 0 | 0 | 0 | 0 | |||||||||||
Preferred Stock [Member] | Series B Preferred Stock [Member] | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Preferred stock, Shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | |||||||||||
Preferred stock, Par value per share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||
Issuance of preferred stock, shares | 2,600,000 | 2,600,000 | 2,600,000 | 2,600,000 | |||||||||||
Preferred stock, Shares outstanding | 2,600,000 | 2,600,000 | 2,600,000 | 2,600,000 | |||||||||||
Shares issued price per share | $ / shares | $ 25 | $ 25 | $ 25 | $ 25 | |||||||||||
Preferred stock liquidation preference per share | $ / shares | $ 25 | 25 | $ 25 | $ 25 | |||||||||||
Preferred stock voting rights | Holders of Series B Preferred Shares have no voting rights other than the ability, subject to certain exceptions, to elect one director if dividends for six quarterly dividend periods (whether or not consecutive) are in arrears and certain other limited protective voting rights. | ||||||||||||||
Preferred stock dividend rate percentage | 8.875% | ||||||||||||||
Preferred stock dividend rate per dollar amount | $ / shares | $ 2.21875 | ||||||||||||||
Preferred stock, Redemption price per share | $ / shares | $ 25 | $ 25 | |||||||||||||
Preferred Stock [Member] | Series C Preferred Stock [Member] | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Preferred stock, Shares authorized | 10,675 | 10,675 | 10,675 | 10,675 | |||||||||||
Issuance of preferred stock, shares | 10,675 | 10,675 | 10,675 | 10,675 | |||||||||||
Preferred stock, Shares outstanding | 10,675 | 10,675 | 10,675 | 10,675 | |||||||||||
Shares issued price per share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||
Preferred stock voting rights | The Series C Preferred Stock votes with the common shares of the Company, and each share entitles the holder thereof to 1,000 votes on all matters submitted to a vote of the shareholders of the Company. | ||||||||||||||
Preferred stock number of voting rights | 1,000 | 1,000 | |||||||||||||
Preferred Stock [Member] | Series D Preferred Stock [Member] | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Preferred stock, Shares authorized | 400 | 400 | 400 | 400 | |||||||||||
Issuance of new shares | 400 | ||||||||||||||
Common Stock [Member] | |||||||||||||||
Class Of Stock [Line Items] | |||||||||||||||
Issuance of new shares | 877,581 | ||||||||||||||
Shares issued price per share | $ / shares | $ 4.13 | $ 4.13 | |||||||||||||
Stock repurchased shares | 3,529,411 | 3,333,333 | 6,000,000 | 1,088,034 | 3,030,303 | 820,000 | 12,862,744 | 4,118,337 | |||||||
Shares repurchase price per share | $ / shares | $ 4.25 | $ 4.50 | $ 2.50 | $ 1.72 | $ 3.30 | $ 4.56 | |||||||||
Payments for repurchase of common stock | $ | $ 3,799,000 | $ 45,369,000 | $ 11,999,000 | ||||||||||||
Dividend paid on common stock per share | $ / shares | $ 0.175 | $ 0.275 | $ 0.25 | $ 0.20 | |||||||||||
Cash dividend | $ | $ 79,812,000 | ||||||||||||||
Issuance of stock | $ | $ 9,000 | ||||||||||||||
Issuance of common stock for vessel acquisitions, shares (Notes 4 and 9(e)) | 16,453,780 | 16,453,780 |
Capital Stock and Changes in _4
Capital Stock and Changes in Capital Accounts (Narrative incentive plan) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Feb. 25, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock capital shares reserved for future issuance | 15,194,759 | |||
Compensation cost on restricted stock | $ 9,282 | $ 7,442 | $ 10,511 | |
Unrecognized cost for unvested restricted shares | $ 16,873 | $ 20,054 | ||
Total compensation cost not yet recognized, Period for recognition | 2 years 6 months 14 days | |||
Granted | 1,470,000 | 8,260,000 | 2,200,000 | |
Restricted Stock | Executive Management And Non-Executive Directors | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Unrecognized cost for unvested restricted shares | $ 6,101 | |||
Granted | 1,470,000 |
Capital Stock and Changes in _5
Capital Stock and Changes in Capital Accounts (Narrative warrants) (Details) | 12 Months Ended | |
Dec. 31, 2022 USD ($) Vessels shares | Aug. 11, 2022 $ / shares shares | |
Share-based Arrangements with Employees and Nonemployees | ||
Number of warrants | 18,487,393 | |
Number of shares permitted to purchase from warrants | 9 | |
Price per share | $ / shares | $ 0.01 | |
Number of warrants outstanding | 1 | |
Number of vessels not delivered to company | Vessels | 1 | |
Proceeds from warrant exercises | $ | $ 0 |
Capital Stock and Changes in _6
Capital Stock and Changes in Capital Accounts (Schedule of share-based compensation restricted stock and restricted stock units activity) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Non vested restricted common stock, beginning balance | 9,514,649 | 2,423,012 | 3,833,233 |
Granted | 1,470,000 | 8,260,000 | 2,200,000 |
Vested | (3,118,060) | (1,168,363) | (3,610,221) |
Non vested restricted common stock, ending balance | 7,866,589 | 9,514,649 | 2,423,012 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Weighted Average Grant Date Fair Value, beginning balance | $ 2.83 | $ 2.95 | $ 3.63 |
Weighted Average Grant Date Fair Value, Granted | 4.15 | 2.85 | 2.72 |
Weighted Average Grant Date Fair Value, Vested | 2.86 | 3.20 | 3.52 |
Weighted Average Grant Date Fair Value, ending balance | $ 3.07 | $ 2.83 | $ 2.95 |
Voyage Expenses (Schedule of vo
Voyage Expenses (Schedule of voyage expenses analysis) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Voyage expenses | |||
Commissions | $ 14,412 | $ 10,794 | $ 8,310 |
Loss from bunker | (8,100) | (5,955) | 3,708 |
Port expenses and other | 630 | 731 | 1,507 |
Total | $ 6,942 | $ 5,570 | $ 13,525 |
Interest and Finance Costs (Sch
Interest and Finance Costs (Schedule of interest and finance costs) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest and Finance Costs | |||
Interest expense, debt | $ 21,983 | $ 18,067 | $ 20,163 |
Finance liabilities interest expense | 2,735 | ||
Amortization of debt and finance liabilities issuance costs | 2,286 | 1,865 | 1,066 |
Loan and other expenses | 415 | 307 | 285 |
Interest expense and finance costs | $ 27,419 | $ 20,239 | $ 21,514 |
Earnings_(loss) per Share (Narr
Earnings/(loss) per Share (Narrative) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Abstract] | |||
Denominator of the diluted earnings per share calculation | 0 | ||
Incremental shares | 3,257,861 | 3,735,059 |
Earnings_(loss) per Share (Sche
Earnings/(loss) per Share (Schedule of earnings per share, basic and diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Abstract] | |||
Net income/(loss) | $ 119,063 | $ 57,394 | $ (134,197) |
Dividends on series B preferred shares | (5,769) | (5,769) | (5,769) |
Net income/(loss) attributable to common stockholders | $ 113,294 | $ 51,625 | $ (139,966) |
Weighted average number of common shares, basic | 80,061,040 | 81,121,781 | 86,143,556 |
Incremental shares | 3,257,861 | 3,735,059 | |
Weighted average number of common shares, diluted | 83,318,901 | 84,856,840 | 86,143,556 |
Earnings/(loss) per share, basic | $ 1.42 | $ 0.64 | $ (1.62) |
Earnings/(loss) per share, diluted | $ 1.36 | $ 0.61 | $ (1.62) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) | Dec. 31, 2022 |
Income Tax Uncertainties [Abstract] | |
Shipping Income Percentage | 50% |
Tax Rate On US Source Shipping Income | 4% |
Financial Instruments and Fai_3
Financial Instruments and Fair Value Disclosures (Narrative) (Details) - USD ($) | 12 Months Ended | |||
Dec. 15, 2022 | Sep. 20, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Carrying value | $ 125,000,000 | $ 125,000,000 | ||
Gain on dividend distribution (Note 3(f)) | 589,000 | |||
OceanPal [Member] | Series D Preferred Stock [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Issuance of new shares | 9,172 | 25,000 | ||
Baltimore [Member] | OceanPal [Member] | Series D Preferred Stock [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Balance amount through preferred shares, sale consideration received | $ 17,600,000 | |||
Gain on dividend distribution (Note 3(f)) | 589,000 | |||
Investments, fair value | 17,600,000 | |||
Level 2 [Member] | OceanPal [Member] | Series D Preferred Stock [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity Securities, fair value | $ 18,189,000 | |||
Investments, fair value | $ 17,600,000 | |||
8.375% Senior Unsecured Bond. | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Carrying value | 125,000,000 | |||
8.375% Senior Unsecured Bond. | Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value | $ 120,525,000 |
Financial Instruments and Fai_4
Financial Instruments and Fair Value Disclosures (Schedule of company's charter revenues) (Details) - Customer Concentration Risk - Revenue Benchmark | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Minimum | |||
Concentration Risk [Line Items] | |||
Percentage of charter revenues | 10% | 10% | 10% |
Cargill International SA | |||
Concentration Risk [Line Items] | |||
Percentage of charter revenues | 0.19% | 0.10% | 0.18% |
Koch Shipping PTE LTD. Singapore | |||
Concentration Risk [Line Items] | |||
Percentage of charter revenues | 0.15% | 0.16% |
Financial Instruments and Fai_5
Financial Instruments and Fair Value Disclosures (Schedule of other fair value measurements (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2022 USD ($) Vessels | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Nov. 29, 2021 USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Purchase price | $ 230,302 | $ 17,393 | $ 6,001 | ||
Issuance of common stock for vessel acquisitions | 67,853 | ||||
Series B Preferred Stock [Member] | Equity Securities, Investment In Oceanpal | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments, Fair Value Disclosure | $ 5 | ||||
Series C Preferred Stock [Member] | Equity Securities, Investment In Oceanpal | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments, Fair Value Disclosure | $ 7,570 | ||||
Non recurring fair value measurements | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value | $ 67,909 | 67,909 | |||
Non recurring fair value measurements | Investments in related parties | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments, Fair Value Disclosure | 7,575 | ||||
Non recurring fair value measurements | Long Lived Assets Held For Use | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value | $ 67,909 | 67,909 | |||
Non recurring fair value measurements | Long Lived Assets Held For Use | Master Agreement With Sea Trade [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Number Of Vessels Delivered | Vessels | 8 | ||||
Purchase price of vessel acquired | $ 263,719 | ||||
Purchase price | 195,810 | ||||
Issuance of common stock for vessel acquisitions | 67,909 | ||||
Non recurring fair value measurements | Level 1 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value | 67,909 | 67,909 | |||
Non recurring fair value measurements | Level 1 [Member] | Long Lived Assets Held For Use | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value | $ 67,909 | $ 67,909 | |||
Non recurring fair value measurements | Level 2 [Member] | Investments in related parties | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investments, Fair Value Disclosure | $ 7,575 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||||||||||
Apr. 24, 2023 | Mar. 20, 2023 | Mar. 14, 2023 | Feb. 22, 2023 | Feb. 14, 2023 | Feb. 02, 2023 | Feb. 01, 2023 | Jan. 30, 2023 | Jan. 17, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 23, 2023 | |
Subsequent Event [Line Items] | |||||||||||||
Cash proceeds from sale of vessels | $ 4,372 | $ 33,731 | $ 15,623 | ||||||||||
Common stock, par value per share | $ 0.01 | $ 0.01 | |||||||||||
Issuance of common stock for vessel acquisitions | $ 67,853 | ||||||||||||
Cash dividend | $ 79,812 | $ 8,820 | |||||||||||
Restricted common stock granted in period | 1,470,000 | 8,260,000 | 2,200,000 | ||||||||||
Fair value of approved awards | $ 16,873 | $ 20,054 | |||||||||||
Subsequent Events. | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Dividend paid on common stock per share | $ 0.15 | ||||||||||||
Cash proceeds from sale of vessels | $ 4,000 | ||||||||||||
Purchase price of vessel | 14,000 | $ 15,080 | |||||||||||
Repayment of secured loan agreement | $ 11,841 | ||||||||||||
Stock Issued During Period Shares Purchase Of Assets | 2,033,613 | ||||||||||||
Common stock, par value per share | $ 0.01 | ||||||||||||
Issuance of common stock for vessel acquisitions | $ 7,809 | ||||||||||||
Cash dividend | $ 15,965 | ||||||||||||
Subsequent Events. | Ultramax | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Purchase price of vessel acquired | $ 27,900 | ||||||||||||
Percent of paid in advance of purchase price | 10% | ||||||||||||
Subsequent Events. | Nordea Loan [Member] | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Repayment of secured loan agreement | $ 8,134 | ||||||||||||
Restricted Stock | Subsequent Events. | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Vesting period (in years) | 3 years | ||||||||||||
Restricted common stock granted in period | 1,750,000 | ||||||||||||
Fair value of approved awards | $ 7,945 | ||||||||||||
Series B Preferred Stock [Member] | Subsequent Events. | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Preferred Stock, Dividends per share | $ 0.5546875 | ||||||||||||
Dividends, Preferred Stock | $ 1,442 | ||||||||||||
Series D Preferred Stock [Member] | Scenario Forecast [Member] | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Issuance of new shares | 13,157 | ||||||||||||
Series D Preferred Stock [Member] | Subsequent Events. | |||||||||||||
Subsequent Event [Line Items] | |||||||||||||
Value Of Shares In PPE Purchase Price | $ 10,000 | ||||||||||||
Shares Received In Ppe Sale | 13,157 |