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FY2025
12 months to Dec 31, 2025
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|---|---|
| Cash Flows From Operating Activities: | |
| Net loss: | |
| Adjustments to reconcile net loss to net cash provided by/(used in) operating activities: | |
| Depreciation | |
| Amortization and write-off of financing costs | |
| Amortization of deferred dry-docking and special survey costs | |
| Equity based payments from Parent | |
| Gain on derivative instruments, net | |
| (Gain)/ loss on sale of vessels, net | |
| Changes in operating assets and liabilities: | |
| Accounts receivable and margin deposits | |
| Due from related parties | |
| Inventories | |
| Insurance claims receivable | |
| Prepayments and other | |
| Accounts payable | |
| Due to related parties | |
| Accrued liabilities | |
| Unearned revenue | |
| Other liabilities | |
| Dry-dockings | |
| Accrued charter revenue | |
| Net Cash provided by / (used in) Operating Activities | |
| Cash Flows From Investing Activities: | |
| Proceeds from the settlement of insurance claims | |
| Cash acquired from acquisition of subsidiaries (Note 1) | |
| Vessel acquisition and advances/Additions to vessel cost | |
| Proceeds from the sale of vessels, net | |
| Net Cash provided by / (used in) Investing Activities | |
| Cash Flows From Financing Activities: | |
| Proceeds from long-term debt | |
| Repayment of long-term debt | |
| Payment of financing costs | |
| Cash advance from parent company | |
| Cash contribution in relation to the Spin-Off (Note 1) | |
| Net Cash provided by/ (used in) Financing Activities | |
| Net increase/ (decrease) in cash, cash equivalents and restricted cash | |
| Cash, cash equivalents and restricted cash at beginning of the period | |
| Cash, cash equivalents and restricted cash at end of the period | |
| Supplemental Cash Information: | |
| Cash paid during the period for interest | |
| Non-Cash Investing and Financing Activities: | |
| Right-of-use assets obtained in exchange for operating lease obligations |
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