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(the “Company”) merged indirectly with Marathon Acquisition Corp., a company then listed on The American Stock Exchange, and with the pre-existing Global Ship Lease, Inc. GSL Holdings, Inc. was the surviving entity (the “Marathon Merger”), changed its name to Global Ship Lease, Inc. and became listed on The New York Stock Exchange (the “NYSE”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On November 15, 2018, the Company completed a transformative transaction and acquired Poseidon Containers’ <span id="xdx_90A_ecustom--NumberOfVesselsPurchased_iI_uPure_c20181115__us-gaap--NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis__custom--PoseidonTransactionMember_z8QVfrfOfw2e" title="Number of vessels purchased">20</span> containerships, <span id="xdx_906_ecustom--NumberOfVesselsSold_dc_uPure_c20180101__20181231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ArgosMember__us-gaap--NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis__custom--PoseidonTransactionMember_zcoNwzcTZzng" title="Number of vessels sold">one</span> of which, the Argos, was contracted to be sold, which sale was completed in December 2018, (the “Poseidon Transaction”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">In 2021, the Company purchased <span id="xdx_90C_ecustom--NumberOfVesselsPurchased_iI_uPure_c20211231_zLlQrkcmbLVe">23</span> vessels. <span id="xdx_90E_ecustom--NumberOfVesselsPurchased_iI_dc_uPure_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_zXPhKqmBZpd1">Seven</span> containerships of approximately <span id="xdx_906_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_zwCluQCvrPZd">6,000</span> TEU each (the “Seven Vessels”), were purchased for an aggregate purchase price of $<span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_z5xuKfHf8X17">116,000</span>. <span id="xdx_909_ecustom--DeliveryDate_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_zhCF5SWDio12">Four vessels were delivered in April 2021, two in May 2021 and the seventh vessel in July 2021.</span> Twelve <span id="xdx_905_ecustom--NumberOfVesselsPurchased_iI_uPure_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsMember_zMl5Krq8LM81" style="display: none" title="Number of vessels purchased">12</span> containerships were purchased from Borealis Finance LLC (the “Twelve Vessels”) for an aggregate purchase price of $<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsMember_zpziotbEhEVg" title="Aggregate purchase price">233,890</span>. <span id="xdx_90A_ecustom--DeliveryDate_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsMember_zwNIMDBApCdg" title="Date of Delivery">The Twelve Vessels were delivered in July 2021</span>. <span id="xdx_905_ecustom--NumberOfVesselsPurchased_iI_dc_uPure_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_zeG7AzoSDvn1" title="Number of vessels purchased">Four</span> <span id="xdx_90C_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_zpr8I9BebMn8" title="Capacity in TEUs">5,470</span> TEU Panamax containerships (the “Four Vessels”) for an aggregate purchase price of $<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_zkhnl9ZnMdf6" title="Aggregate purchase price">148,000</span>. <span id="xdx_907_ecustom--DeliveryDate_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_z9c6pAytsTig" title="Date of Delivery">Three vessels were delivered in September 2021 and the fourth vessel in October 2021</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">With these additions and following the sale of La Tour on June 30, 2021, the Company’s fleet comprises <span id="xdx_901_ecustom--NumberOfVesselsOwned_uPure_c20220101__20221231_zI7Ku8B4KPcd">65</span> containerships with average age weighted by TEU capacity of <span id="xdx_90E_ecustom--WeightedAverageAgeCapacity_dtY_c20220101__20221231_zdFgo92E4qm1">15.9</span> years.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The following table provides information about the 65 vessels owned as at December 31, 2022.</span></p> <p id="xdx_89A_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zfKedLqHgEol" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B7_zshETsLp02Fd" style="display: none">Description of Business - Schedule of Vessels (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-size: 10pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: middle; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_z30WxgPrb8Z3" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--VesselName_z7zrF0H3lgF9" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zEJITQ5lmqS2" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--YearBuilt_zmI7zUQJFIL" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zMAlrmTpxyZ6" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: middle; background-color: White"> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 20%"><span style="font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Vessel Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Year Built </b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Earliest Charter Expiry Date</b></span></td></tr> <tr id="xdx_41F_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease54LLCMember_zNvDtRmp39u" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 54 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Thalassa </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">11,040</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q25</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--LaertisMarineLLCMember_zpWOrTI1p9Rl"> <td style="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Laertis Marine LLC</span></td> <td style="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Zim Norfolk (ex UASC Al Khor) ⁽¹⁴⁾</span></td> <td style="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">9,115</span></td> <td style="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--PenelopeMarineLLCMember_z7NLWxGzTXll" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Penelope Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Zim Xiamen (ex Maira XL) ⁽¹⁴⁾</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">9,115</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--TelemachusMarineLLCMember_zgQfmzl0yLlb" style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Telemachus Marine LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Anthea Y </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">9,115</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease53LLCMember_zke4IxRVNvda" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 53 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">MSC Tianjin    </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">8,603</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2005</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease52LLCMember_zC5JsIslz33b"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 52 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">MSC Qingdao</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">8,603</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease43LLCMember_zd5UINhgkMEd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 43 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Ningbo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">8,603</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q27⁽⁴⁾</span></td></tr> <tr id="xdx_414_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease30LimitedMember_znZRFbOv3vxk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 30 Limited</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Eleni</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,847</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁵⁾</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease31LimitedMember_zHJ5YCxlGPEd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 31 Limited</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Kalliopi </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,847</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23⁽⁵⁾</span></td></tr> <tr id="xdx_41A_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease32LimitedMember_zvfkFExe0wD1"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 32 Limited</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Grania</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,847</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23⁽⁵⁾</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AlexanderMarineLLCMember_zO2CDqU6X2Ac" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Alexander Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Mary</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q28⁽⁶⁾</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--HectorMarineLLCMember_zJyubRc0UXXd"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hector Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Kristina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q29⁽⁶⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--IkarosMarineLLCMember_zftGviQDOEz6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Ikaros Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Katherine</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q29⁽⁶⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--PhilipposMarineLLCMember_zX7tys2eUnzb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Philippos Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Alexandra</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q29⁽⁶⁾</span></td></tr> <tr id="xdx_41A_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AristotelesMarineLLCMember_zsEiSmUPneV5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Aristoteles Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Alexis</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,882</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q29⁽⁶⁾</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--MenelaosMarineLLCMember_z6AI4tWfX6Qk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Menelaos Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Olivia I</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,882</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q29⁽⁶⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease35LLCMember_z8ik0eKt4Ai5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 35 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Nicoletta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,840</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease36LLCMember_zrwGbHcZuzIa"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 36 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Christen</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,840</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease48LLCMember_zmMnHqQrVOYc" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 48 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Berlioz </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,621</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q25</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--LeonidasMarineLLCMember_z7lf0AqtXjDl"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Leonidas Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Agios Dimitrios </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,572</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2011</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q23</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease33LimitedMember_z7Pm3e5XVrw3" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 33 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Vinia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease34LimitedMember_zMabVTbRTdsc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 34 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Christel Elisabeth</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>  </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>1. Description of Business (continued)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b> </b></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: middle; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_zrtz5Hs5w2rk" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--VesselName_z9SV22lB4hLl" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zVPEtLsyAUlj" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--YearBuilt_zSQPq2t8q3Pk" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zXCIjKldMo5g" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: middle; background-color: White"> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 20%"><span style="font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Vessel Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Year Built </b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Earliest Charter Expiry Date</b></span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLArcadiaLLCMember_zFKVP5pXPoQc" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Arcadia LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Arcadia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24⁽⁷⁾</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLMelitaLLCMember_zp4KcsDZSqpj"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Melita LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melita</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLMariaLLCMember_z1vTesTsBXr9" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Maria LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLVioletaLLCMember_zkS1PFMpoCJi"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Violetta LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Violetta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLTegeaLLCMember_zs9TLVlKsVYi" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Tegea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tegea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLDorotheaLLCMember_zHesTg0Qrnal"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Dorothea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Dorothea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLMYNYLLCMember_z49nNbXrpVrk" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL MYNY LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL MYNY</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41A_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--TasmanMarineLLCMember_z2vtXkzb7D5b"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Tasman Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Tasman </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q23⁽⁸⁾</span></td></tr> <tr id="xdx_41F_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--HudsonMarineLLCMember_z4iddHKrBep3" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hudson Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Zim Europe </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q24</span></td></tr> <tr id="xdx_41B_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--DrakeMarineLLCMember_zb3ScIcFIiDb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Drake Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Ian H </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_418_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease68LLCMember_zE9HQ8catG81" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 68 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Kithira</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease69LLCMember_zCruXmuz6xb9"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 69 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tripoli</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease70LLCMember_zPecoVVK8AB5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 70 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Syros</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease71LLCMember_zyzfIpHjCIUc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 71 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tinos</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--HephaestusMarineLLCMember_zGpS0UqXI3Li" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hephaestus Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Dolphin II </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,095</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--ZeusOneMarineLLCMember_zDVKvqfmV1Fl"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Zeus One Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Orca I </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,095</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24⁽¹⁰⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease47LLCMember_za1kehzq1cD8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 47 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Château d’If</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_414_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLAlcazarIncMember_zDYtFizRrtHf"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Alcazar Inc. </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Alcazar  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q26</span></td></tr> <tr id="xdx_41F_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease55LLCMember_zOCUwR3bFJk8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 55 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Susan </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,363</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q27⁽¹¹⁾</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease50LLCMember_z3cISJI1AkAk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 50 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Jamaica   </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,298</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q28⁽¹¹⁾</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease49LLCMember_zoZQ6wtnBmWa" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 49 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Sambhar </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q28⁽¹¹⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease51LLCMember_zXX0DhPV0nji"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 51 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM America  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q28⁽¹¹⁾</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease57LLCMember_zGQa6034Yok8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 57 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Rossi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q26</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease58LLCMember_z4rfrNAM0Qgb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 58 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Alice</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_418_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease59LLCMember_z3FO4woynUf8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 59 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q23</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease60LLCMember_zOdoAtHjZDe3"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 60 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Eleftheria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q25</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease61LLCMember_zUwoKrLxIKAk" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 61 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Mercer</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease62LLCMember_z2aYeNf2E5xa"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 62 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Matson Molokai</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q25</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease63LLCMember_zpn9wKRZAhQ" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 63 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Lalo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41B_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease42LLCMember_zFvGNGRsEa15"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 42 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Valerie </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2005</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--PericlesMarineLLCMember_zJptc7qokZ6b" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Pericles Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Athena </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,762</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2003</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease64LLCMember_z35AkJG61Yo6"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 64 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Elizabeth ⁽¹²⁾</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,741</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q23</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease65LLCMember_zw53vFUObGHk" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 65 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">tbr GSL Chloe ⁽¹³⁾</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease66LLCMember_zf0maz1aGDfb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 66 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maren</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41B_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--ArisMarineLLCMember_z0nkik6bq572" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Aris Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Maira </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AphroditeMarineLLCMember_zKg4meILjVak"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Aphrodite Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Nikolas </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AthenaMarineLLCMember_zw9YjyQL1yR2" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Athena Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Newyorker </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q24</span></td></tr> <tr id="xdx_417_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease38LLCMember_z3kKaXZcNCm4"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 38 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Manet </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,272</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease40LLCMember_zjZ6T9CjY7Kd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 40 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Keta   </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2003</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease41LLCMember_zGiQ3ZvWCcz1"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 41 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Julie</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease45LLCMember_zYgwlaONEcf6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 45 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Kumasi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_417_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease44LLCMember_zrXTn37uJIPh"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 44 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Akiteta </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease67LLCMember_zF50OAtvOXak" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 67 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Amstel </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1,118</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0"/> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>1. Description of Business (continued)</b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b/></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(1)</i></span></td> <td style="text-align: justify; width: 98%"><span style="font-size: 10pt"><i>All subsidiaries are 100% owned, either directly or indirectly;  </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(2)</i></span></td> <td><span style="font-size: 10pt"><i>Twenty-foot Equivalent Units;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(3)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Currently, under a sale and leaseback transaction (see note 2p);</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(4)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Ningbo was forward fixed to a leading liner company for minimum 48 months - maximum 52 months. The new charter is scheduled to commence in 3Q 2023;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(5)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Eleni delivered 2Q2019 and is chartered for five years; GSL Kalliopi (delivered 4Q2019) and GSL Grania (delivered 3Q2019) are chartered for three years plus two successive periods of one year each at the option of the charterer. The first of these extension options was exercised for both vessels in 2Q 2022 and commenced for GSL Grania and for GSL Kalliopi in 3Q and in 4Q 2022, respectively;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(6)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Mary, Kristina, Katherine, Alexandra, Alexis, Olivia I were forward fixed to a leading liner company for 60 months +/- 45 days, after which the charterer has the option to extend each charter for a further two years; The new charters are scheduled to commence as each of the existing charters expire, between approximately December 2023 and August 2024;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(7)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Arcadia, GSL Melita, GSL Maria, GSL Violetta, GSL Tegea, GSL Dorothea, GSL MYNY. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time - for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(8)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Tasman. 12-month extension at charterer’s option was exercised in 2Q 2022 and commenced in 3Q 2022;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(9)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Kithira, GSL Tripoli, GSL Syros, GSL Tinos were chartered for a period of three years, after which the charterer has the option to extend each charter for a further three years;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(10)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Orca I. After the initial firm period of the charter, the charterer has the option to extend the charter for a further 12-14 months; </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(11)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Susan, CMA CGM Jamaica, CMA CGM Sambhar and CMA CGM America were each forward fixed to a leading liner company for a period of five years with up to +/- 45 days in charterer’s option. The new charter for GSL Susan commenced in October 2022, while the remaining charters are scheduled to commence in March 2023; </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(12)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Elizabeth was chartered to a leading liner company for a period of four to seven months and the new charter commenced in 4Q 2022;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(13)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>“tbr” means “to be renamed”;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(14)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>On May 22, 2022, UASC Al Khor was renamed Zim Norfolk. On July 11, 2022, Maira XL was renamed Zim Xiamen.</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b/></p> <p style="margin-top: 0; margin-bottom: 0"> </p> <p id="xdx_8AF_znwxObScUTFl" style="margin-top: 0; margin-bottom: 0"> </p> 20 1 23 7 6000 116000000 Four vessels were delivered in April 2021, two in May 2021 and the seventh vessel in July 2021. 12 233890000 The Twelve Vessels were delivered in July 2021 4 5470 148000000 Three vessels were delivered in September 2021 and the fourth vessel in October 2021 65 P15Y10M24D <p id="xdx_89A_eus-gaap--ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_zfKedLqHgEol" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B7_zshETsLp02Fd" style="display: none">Description of Business - Schedule of Vessels (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-size: 10pt"> </span></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: middle; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_z30WxgPrb8Z3" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--VesselName_z7zrF0H3lgF9" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zEJITQ5lmqS2" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--YearBuilt_zmI7zUQJFIL" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zMAlrmTpxyZ6" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: middle; background-color: White"> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 20%"><span style="font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Vessel Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Year Built </b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Earliest Charter Expiry Date</b></span></td></tr> <tr id="xdx_41F_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease54LLCMember_zNvDtRmp39u" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 54 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Thalassa </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">11,040</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q25</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--LaertisMarineLLCMember_zpWOrTI1p9Rl"> <td style="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Laertis Marine LLC</span></td> <td style="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Zim Norfolk (ex UASC Al Khor) ⁽¹⁴⁾</span></td> <td style="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">9,115</span></td> <td style="white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q27</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--PenelopeMarineLLCMember_z7NLWxGzTXll" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Penelope Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Zim Xiamen (ex Maira XL) ⁽¹⁴⁾</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">9,115</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q27</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--TelemachusMarineLLCMember_zgQfmzl0yLlb" style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Telemachus Marine LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Anthea Y </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">9,115</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease53LLCMember_zke4IxRVNvda" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 53 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">MSC Tianjin    </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">8,603</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2005</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease52LLCMember_zC5JsIslz33b"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 52 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">MSC Qingdao</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">8,603</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease43LLCMember_zd5UINhgkMEd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 43 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Ningbo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">8,603</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q27⁽⁴⁾</span></td></tr> <tr id="xdx_414_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease30LimitedMember_znZRFbOv3vxk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 30 Limited</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Eleni</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,847</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁵⁾</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease31LimitedMember_zHJ5YCxlGPEd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 31 Limited</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Kalliopi </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,847</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23⁽⁵⁾</span></td></tr> <tr id="xdx_41A_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease32LimitedMember_zvfkFExe0wD1"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 32 Limited</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Grania</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,847</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23⁽⁵⁾</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AlexanderMarineLLCMember_zO2CDqU6X2Ac" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Alexander Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Mary</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q28⁽⁶⁾</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--HectorMarineLLCMember_zJyubRc0UXXd"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hector Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Kristina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q29⁽⁶⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--IkarosMarineLLCMember_zftGviQDOEz6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Ikaros Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Katherine</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q29⁽⁶⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--PhilipposMarineLLCMember_zX7tys2eUnzb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Philippos Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Alexandra</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,927</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q29⁽⁶⁾</span></td></tr> <tr id="xdx_41A_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AristotelesMarineLLCMember_zsEiSmUPneV5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Aristoteles Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Alexis</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,882</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q29⁽⁶⁾</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--MenelaosMarineLLCMember_z6AI4tWfX6Qk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Menelaos Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Olivia I</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,882</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2015</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q29⁽⁶⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease35LLCMember_z8ik0eKt4Ai5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 35 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Nicoletta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,840</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease36LLCMember_zrwGbHcZuzIa"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 36 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Christen</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,840</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease48LLCMember_zmMnHqQrVOYc" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 48 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Berlioz </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,621</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q25</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--LeonidasMarineLLCMember_z7lf0AqtXjDl"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Leonidas Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Agios Dimitrios </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,572</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2011</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q23</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease33LimitedMember_z7Pm3e5XVrw3" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 33 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Vinia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease34LimitedMember_zMabVTbRTdsc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 34 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Christel Elisabeth</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,080</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2004</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>  </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>1. Description of Business (continued)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b> </b></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: middle; background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_481_ecustom--EntityIncorporationCountryName_zrtz5Hs5w2rk" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--VesselName_z9SV22lB4hLl" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_48F_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zVPEtLsyAUlj" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_486_ecustom--YearBuilt_zSQPq2t8q3Pk" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_484_ecustom--EarliestCharterExpiryDate_zXCIjKldMo5g" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: middle; background-color: White"> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 20%"><span style="font-size: 10pt"><b>Company Name ⁽¹⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Country of Incorporation</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Vessel Name</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Capacity in TEUs ⁽²⁾</b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Year Built </b></span></td> <td style="border-bottom: Black 0.5pt solid; font-weight: bold; text-align: center; width: 16%"><span style="font-size: 10pt"><b>Earliest Charter Expiry Date</b></span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLArcadiaLLCMember_zFKVP5pXPoQc" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Arcadia LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Arcadia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24⁽⁷⁾</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLMelitaLLCMember_zp4KcsDZSqpj"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Melita LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melita</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLMariaLLCMember_z1vTesTsBXr9" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Maria LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLVioletaLLCMember_zkS1PFMpoCJi"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Violetta LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Violetta</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLTegeaLLCMember_zs9TLVlKsVYi" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Tegea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tegea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLDorotheaLLCMember_zHesTg0Qrnal"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Dorothea LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Dorothea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLMYNYLLCMember_z49nNbXrpVrk" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL MYNY LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL MYNY</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q24⁽⁷⁾</span></td></tr> <tr id="xdx_41A_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--TasmanMarineLLCMember_z2vtXkzb7D5b"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Tasman Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Tasman </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q23⁽⁸⁾</span></td></tr> <tr id="xdx_41F_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--HudsonMarineLLCMember_z4iddHKrBep3" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hudson Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Zim Europe </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q24</span></td></tr> <tr id="xdx_41B_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--DrakeMarineLLCMember_zb3ScIcFIiDb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Drake Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Ian H </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,936</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_418_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease68LLCMember_zE9HQ8catG81" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 68 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Kithira</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease69LLCMember_zCruXmuz6xb9"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 69 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tripoli</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease70LLCMember_zPecoVVK8AB5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 70 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Syros</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease71LLCMember_zyzfIpHjCIUc"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 71 LLC ⁽³⁾</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tinos</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24⁽⁹⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--HephaestusMarineLLCMember_zGpS0UqXI3Li" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hephaestus Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Dolphin II </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,095</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_413_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--ZeusOneMarineLLCMember_zDVKvqfmV1Fl"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Zeus One Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Orca I </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,095</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24⁽¹⁰⁾</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease47LLCMember_za1kehzq1cD8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 47 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Château d’If</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q26</span></td></tr> <tr id="xdx_414_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GSLAlcazarIncMember_zDYtFizRrtHf"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">GSL Alcazar Inc. </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Alcazar  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,089</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q26</span></td></tr> <tr id="xdx_41F_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease55LLCMember_zOCUwR3bFJk8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 55 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Susan </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,363</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q27⁽¹¹⁾</span></td></tr> <tr id="xdx_419_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease50LLCMember_z3cISJI1AkAk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 50 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Jamaica   </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,298</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q28⁽¹¹⁾</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease49LLCMember_zoZQ6wtnBmWa" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 49 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM Sambhar </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q28⁽¹¹⁾</span></td></tr> <tr id="xdx_41D_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease51LLCMember_zXX0DhPV0nji"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 51 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">CMA CGM America  </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,045</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q28⁽¹¹⁾</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease57LLCMember_zGQa6034Yok8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 57 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Rossi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q26</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease58LLCMember_z4rfrNAM0Qgb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 58 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Alice</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_418_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease59LLCMember_z3FO4woynUf8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 59 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q23</span></td></tr> <tr id="xdx_410_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease60LLCMember_zOdoAtHjZDe3"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 60 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Eleftheria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q25</span></td></tr> <tr id="xdx_416_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease61LLCMember_zUwoKrLxIKAk" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 61 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Mercer</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_41C_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease62LLCMember_z2aYeNf2E5xa"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 62 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Matson Molokai</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q25</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease63LLCMember_zpn9wKRZAhQ" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 63 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Lalo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41B_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease42LLCMember_zFvGNGRsEa15"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 42 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Valerie </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2005</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--PericlesMarineLLCMember_zJptc7qokZ6b" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Pericles Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Athena </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,762</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2003</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q24</span></td></tr> <tr id="xdx_411_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease64LLCMember_z35AkJG61Yo6"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 64 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Elizabeth ⁽¹²⁾</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,741</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2Q23</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease65LLCMember_zw53vFUObGHk" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 65 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">tbr GSL Chloe ⁽¹³⁾</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease66LLCMember_zf0maz1aGDfb"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 66 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maren</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41B_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--ArisMarineLLCMember_z0nkik6bq572" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Aris Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Maira </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AphroditeMarineLLCMember_zKg4meILjVak"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Aphrodite Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Nikolas </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--AthenaMarineLLCMember_zw9YjyQL1yR2" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Athena Marine LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Marshall Islands</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Newyorker </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,506</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q24</span></td></tr> <tr id="xdx_417_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease38LLCMember_z3kKaXZcNCm4"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 38 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Manet </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,272</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease40LLCMember_zjZ6T9CjY7Kd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 40 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Keta   </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2003</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_415_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease41LLCMember_zGiQ3ZvWCcz1"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 41 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Julie</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q23</span></td></tr> <tr id="xdx_412_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease45LLCMember_zYgwlaONEcf6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 45 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Kumasi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1Q25</span></td></tr> <tr id="xdx_417_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease44LLCMember_zrXTn37uJIPh"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 44 LLC </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Akiteta </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,207</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2002</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4Q24</span></td></tr> <tr id="xdx_41E_20220101__20221231__srt--ConsolidatedEntitiesAxis__custom--GlobalShipLease67LLCMember_zF50OAtvOXak" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Global Ship Lease 67 LLC</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Liberia</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Amstel </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1,118</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3Q23</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0"/> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>1. Description of Business (continued)</b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b/></p> <table border="0" cellpadding="0" cellspacing="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(1)</i></span></td> <td style="text-align: justify; width: 98%"><span style="font-size: 10pt"><i>All subsidiaries are 100% owned, either directly or indirectly;  </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(2)</i></span></td> <td><span style="font-size: 10pt"><i>Twenty-foot Equivalent Units;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(3)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Currently, under a sale and leaseback transaction (see note 2p);</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(4)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Ningbo was forward fixed to a leading liner company for minimum 48 months - maximum 52 months. The new charter is scheduled to commence in 3Q 2023;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(5)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Eleni delivered 2Q2019 and is chartered for five years; GSL Kalliopi (delivered 4Q2019) and GSL Grania (delivered 3Q2019) are chartered for three years plus two successive periods of one year each at the option of the charterer. The first of these extension options was exercised for both vessels in 2Q 2022 and commenced for GSL Grania and for GSL Kalliopi in 3Q and in 4Q 2022, respectively;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(6)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Mary, Kristina, Katherine, Alexandra, Alexis, Olivia I were forward fixed to a leading liner company for 60 months +/- 45 days, after which the charterer has the option to extend each charter for a further two years; The new charters are scheduled to commence as each of the existing charters expire, between approximately December 2023 and August 2024;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: top; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(7)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Arcadia, GSL Melita, GSL Maria, GSL Violetta, GSL Tegea, GSL Dorothea, GSL MYNY. Thereafter, the charterer has the option to extend each charter for a further 12 months, after which they have the option to extend each charter for a second time - for a period concluding immediately prior to each respective vessel’s 25th year drydocking and special survey;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(8)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Tasman. 12-month extension at charterer’s option was exercised in 2Q 2022 and commenced in 3Q 2022;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(9)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Kithira, GSL Tripoli, GSL Syros, GSL Tinos were chartered for a period of three years, after which the charterer has the option to extend each charter for a further three years;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(10)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>Orca I. After the initial firm period of the charter, the charterer has the option to extend the charter for a further 12-14 months; </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(11)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Susan, CMA CGM Jamaica, CMA CGM Sambhar and CMA CGM America were each forward fixed to a leading liner company for a period of five years with up to +/- 45 days in charterer’s option. The new charter for GSL Susan commenced in October 2022, while the remaining charters are scheduled to commence in March 2023; </i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(12)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>GSL Elizabeth was chartered to a leading liner company for a period of four to seven months and the new charter commenced in 4Q 2022;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(13)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>“tbr” means “to be renamed”;</i></span></td></tr> <tr style="vertical-align: bottom"> <td style="vertical-align: middle; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(14)</i></span></td> <td style="text-align: justify"><span style="font-size: 10pt"><i>On May 22, 2022, UASC Al Khor was renamed Zim Norfolk. On July 11, 2022, Maira XL was renamed Zim Xiamen.</i></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b/></p> <p style="margin-top: 0; margin-bottom: 0"> </p> Liberia CMA CGM Thalassa 11040000 2008 4Q25 Marshall Islands Zim Norfolk (ex UASC Al Khor) (14) 9115000 2015 2Q27 Marshall Islands Zim Xiamen (ex Maira XL) (14) 9115000 2015 3Q27 Marshall Islands Anthea Y 9115000 2015 3Q23 Liberia MSC Tianjin     8603000 2005 2Q24 Liberia MSC Qingdao 8603000 2004 2Q24 Liberia GSL Ningbo 8603000 2004 3Q27(4) Marshall Islands GSL Eleni 7847000 2004 3Q24(5) Marshall Islands GSL Kalliopi 7847000 2004 3Q23(5) Marshall Islands GSL Grania 7847000 2004 3Q23(5) Marshall Islands Mary 6927000 2013 4Q28(6) Marshall Islands Kristina 6927000 2013 3Q29(6) Marshall Islands Katherine 6927000 2013 1Q29(6) Marshall Islands Alexandra 6927000 2013 2Q29(6) Marshall Islands Alexis 6882000 2015 2Q29(6) Marshall Islands Olivia I 6882000 2015 2Q29(6) Liberia GSL Nicoletta 6840000 2002 3Q24 Liberia GSL Christen 6840000 2002 3Q23 Liberia CMA CGM Berlioz 6621000 2001 4Q25 Marshall Islands Agios Dimitrios 6572000 2011 4Q23 Liberia GSL Vinia 6080000 2004 3Q24 Liberia GSL Christel Elisabeth 6080000 2004 2Q24 Liberia Liberia GSL Arcadia GSL Arcadia 6008000 6008000 2000 2000 2Q24(7) 2Q24(7) Liberia Liberia GSL Melita GSL Melita 6008000 6008000 2001 2001 3Q24(7) 3Q24(7) Liberia Liberia GSL Maria GSL Maria 6008000 6008000 2001 2001 4Q24(7) 4Q24(7) Liberia Liberia GSL Violetta GSL Violetta 6008000 6008000 2000 2000 4Q24(7) 4Q24(7) Liberia Liberia GSL Tegea GSL Tegea 5992000 5992000 2001 2001 3Q24(7) 3Q24(7) Liberia Liberia GSL Dorothea GSL Dorothea 5992000 5992000 2001 2001 3Q24(7) 3Q24(7) Liberia Liberia GSL MYNY GSL MYNY 6008000 6008000 2000 2000 3Q24(7) 3Q24(7) Marshall Islands Marshall Islands Tasman Tasman 5936000 5936000 2000 2000 4Q23(8) 4Q23(8) Marshall Islands Marshall Islands Zim Europe Zim Europe 5936000 5936000 2000 2000 1Q24 1Q24 Marshall Islands Marshall Islands Ian H Ian H 5936000 5936000 2000 2000 2Q24 2Q24 Liberia Liberia GSL Kithira GSL Kithira 5470000 5470000 2009 2009 4Q24(9) 4Q24(9) Liberia Liberia GSL Tripoli GSL Tripoli 5470000 5470000 2009 2009 4Q24(9) 4Q24(9) Liberia Liberia GSL Syros GSL Syros 5470000 5470000 2010 2010 4Q24(9) 4Q24(9) Liberia Liberia GSL Tinos GSL Tinos 5470000 5470000 2010 2010 4Q24(9) 4Q24(9) Marshall Islands Marshall Islands Dolphin II Dolphin II 5095000 5095000 2007 2007 1Q25 1Q25 Marshall Islands Marshall Islands Orca I Orca I 5095000 5095000 2006 2006 2Q24(10) 2Q24(10) Liberia Liberia GSL Château d’If GSL Château d’If 5089000 5089000 2007 2007 4Q26 4Q26 Marshall Islands Marshall Islands CMA CGM Alcazar   CMA CGM Alcazar   5089000 5089000 2007 2007 3Q26 3Q26 Liberia Liberia GSL Susan GSL Susan 4363000 4363000 2008 2008 3Q27(11) 3Q27(11) Liberia Liberia CMA CGM Jamaica    CMA CGM Jamaica    4298000 4298000 2006 2006 1Q28(11) 1Q28(11) Liberia Liberia CMA CGM Sambhar CMA CGM Sambhar 4045000 4045000 2006 2006 1Q28(11) 1Q28(11) Liberia Liberia CMA CGM America   CMA CGM America   4045000 4045000 2006 2006 1Q28(11) 1Q28(11) Liberia Liberia GSL Rossi GSL Rossi 3421000 3421000 2012 2012 1Q26 1Q26 Liberia Liberia GSL Alice GSL Alice 3421000 3421000 2014 2014 1Q23 1Q23 Liberia Liberia GSL Melina GSL Melina 3404000 3404000 2013 2013 2Q23 2Q23 Liberia Liberia GSL Eleftheria GSL Eleftheria 3404000 3404000 2013 2013 3Q25 3Q25 Liberia Liberia GSL Mercer GSL Mercer 2824000 2824000 2007 2007 4Q24 4Q24 Liberia Liberia Matson Molokai Matson Molokai 2824000 2824000 2007 2007 2Q25 2Q25 Liberia Liberia GSL Lalo GSL Lalo 2824000 2824000 2006 2006 1Q23 1Q23 Liberia Liberia GSL Valerie GSL Valerie 2824000 2824000 2005 2005 1Q25 1Q25 Marshall Islands Marshall Islands Athena Athena 2762000 2762000 2003 2003 2Q24 2Q24 Liberia Liberia GSL Elizabeth (12) GSL Elizabeth (12) 2741000 2741000 2006 2006 2Q23 2Q23 Liberia Liberia tbr GSL Chloe (13) tbr GSL Chloe (13) 2546000 2546000 2012 2012 4Q24 4Q24 Liberia Liberia GSL Maren GSL Maren 2546000 2546000 2014 2014 1Q23 1Q23 Marshall Islands Marshall Islands Maira Maira 2506000 2506000 2000 2000 1Q23 1Q23 Marshall Islands Marshall Islands Nikolas Nikolas 2506000 2506000 2000 2000 1Q23 1Q23 Marshall Islands Marshall Islands Newyorker Newyorker 2506000 2506000 2001 2001 1Q24 1Q24 Liberia Liberia Manet Manet 2272000 2272000 2001 2001 4Q24 4Q24 Liberia Liberia Keta    Keta    2207000 2207000 2003 2003 1Q25 1Q25 Liberia Liberia Julie Julie 2207000 2207000 2002 2002 1Q23 1Q23 Liberia Liberia Kumasi Kumasi 2207000 2207000 2002 2002 1Q25 1Q25 Liberia Liberia Akiteta Akiteta 2207000 2207000 2002 2002 4Q24 4Q24 Liberia Liberia GSL Amstel GSL Amstel 1118000 1118000 2008 2008 3Q23 3Q23 <p id="xdx_802_eus-gaap--SignificantAccountingPoliciesTextBlock_zlGfVaaGcEvk" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. <span id="xdx_820_z68095YhSwsj">Summary of Significant Accounting Policies</span></b></span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_84F_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zhi2nfXOTHc4" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) <span id="xdx_865_zDic4y961l71">Basis of Presentation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The accompanying consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (“<span id="xdx_90D_edei--DocumentAccountingStandard_c20220101__20221231_z7kYnTQMMPmk" title="Document accounting standard">U.S. GAAP</span>”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--StockholdersEquityReverseStockSplit_c20190101__20190325__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--ReverseStockSplitMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zTMRRvW56vb4" title="Stockholders' Equity, Reverse Stock Split">On March 25, 2019, the Company’s common shares began trading on a reverse-split-adjusted basis, following approval received from the Company’s shareholders at a Special Meeting held on March 20, 2019 and subsequently approval from the Company’s Board of Directors to reverse split the Company’s common shares at a ratio of one-for-eight. The Class A common shares per share amounts disclosed in the consolidated financial statements and notes give effect to the reverse stock split retroactively, for all years presented.</span> <span id="xdx_903_eus-gaap--StockholdersEquityNoteStockSplitConversionRatio1_dc_c20190101__20190325__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--ReverseStockSplitMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zvehk8zF3g5b" style="display: none" title="Stockholders' Equity Note, Stock Split, Conversion Ratio">eight</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">During the year ended December 31, 2022, the Company has made reclassifications to the prior year statement of cash flows to correct and reclassify debt premiums paid from operating outflows to financing outflows which resulted in a decrease in operating outflows and increase in financial outflows of $<span id="xdx_90A_eus-gaap--PriorPeriodReclassificationAdjustment_pn3n3_c20220101__20221231_zDNHQiiMLJs6">3,230</span> for the year ended December 31, 2021. The Company evaluated the reclassifications from both a quantitative and qualitative perspective and determined the impacts were not material to any previously issued annual financial statements.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> <span style="font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) Basis of Presentation (continued) </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Adoption of new accounting standards </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">In March 2020, the FASB issued ASU 2020-4, “Reference Rate Reform (Topic 848)” (“ASU 2020-4”), which provides optional guidance intended to ease the potential burden in accounting for the expected discontinuation of LIBOR as a reference rate in the financial markets. The guidance can be applied to modifications made to certain contracts to replace LIBOR with a new reference rate. The guidance, if elected, will permit entities to treat such modifications as the continuation of the original contract, without any required accounting reassessments or remeasurements. The ASU 2020-4 was effective for the Company beginning on March 12, 2020 and the Company applied the amendments prospectively through December 31, 2022. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, in December 2022 the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848)”. The amendments of this update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. Currently, the Company has various other contracts that reference LIBOR. The Company has modified one contract to replace LIBOR with SOFR and elected to apply the modification accounting. There was no impact to the Company’s audited consolidated financial statements for the year ended December 31, 2022 as a result of adopting this standard.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>COVID-19 Pandemic</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On March 11, 2020, the World Health Organization declared the novel coronavirus (“COVID-19”) outbreak a pandemic. Since the beginning of calendar year 2020, the outbreak of COVID-19 pandemic has resulted in the implementation of numerous actions taken by governments and governmental agencies in an attempt to mitigate the spread of the virus, including, among others, business closures, quarantines, travel restrictions, and physical distancing requirements. These actions have caused substantial disruptions in the global economy and the shipping industry, as well as significant volatility in the financial markets, the severity and duration of which remains uncertain.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although the incidence and severity of COVID-19 and its variants have diminished over time, periodic spikes in incidence occur. Many nations worldwide have significantly eased or eliminated restrictions that were enacted at the outset of the outbreak of COVID-19. The World Health Organization officials had expressed hope that COVID-19 might be entering an endemic phase by early 2023, but the continued uncertainties associated with the COVID-19 pandemic worldwide may cause an adverse impact on the global economy and the rate environment for the Company’s vessels may deteriorate and its operations and cash flows may be negatively impacted.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While the Company cannot predict the long-term economic impact of the COVID-19 pandemic, it will continue to actively monitor the situation and may take further actions to alter the Company’s business operations that it determines are in the best interests of its employees, customers, partners, suppliers, and stakeholders, or as required by authorities in the jurisdictions where the Company operates. As a result, many of the Company’s estimates and assumptions required increased judgement and carry a higher degree of variability and volatility. The ultimate effects that any such alterations or modifications may have on the Company’s business are not clear, including any potential negative effects on its business operations and financial results.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"/></p> <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_z6oyItsrx9k9" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) <span id="xdx_86F_zqzORG0uVJEf">Principles of Consolidation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The accompanying consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries; the Company has no other material interests. All significant intercompany balances and transactions have been eliminated in the Company’s consolidated financial statements.</span></p> <p id="xdx_848_eus-gaap--UseOfEstimates_zh2Hq9aJtuTk" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) <span id="xdx_861_zJcE4gaDfhV8">Use of Estimates</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions and/or conditions.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p id="xdx_84F_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zDbjuYRCrXX4" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(d) <span id="xdx_866_zlhgsONlmjfa">Cash and cash equivalents</span></b></span></p><p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.</span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p id="xdx_84F_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zTqpD45qRk44" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>(e) <span id="xdx_86F_zlM0CmOybprb">Restricted cash</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Restricted cash consists of retention accounts which are restricted in use and held in order to service debt and interest payments. In addition, restricted cash consists of pledged cash maintained with lenders and amounts built-up for future drydockings. Also includes restricted cash received in advance from charterers for future charter service.</span></p> <p id="xdx_849_ecustom--InsurancePolicyTextBlock_z4JDE6ht5Qd2" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(f) <span id="xdx_86E_z0OoPpBppor3">Insurance claims</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Insurance claims consist of claims submitted and/or claims in the process of compilation or submission. They are recorded on an accrual basis and represent the claimable expenses, net of applicable deductibles, incurred through December 31 of each reported period, which are probable to be recovered from insurers. Any outstanding costs to complete the claims are included in accrued liabilities. The classification of insurance claims into current and non-current assets is based on management’s expectation as to the collection dates.</span></p> <p id="xdx_84F_eus-gaap--InventoryPolicyTextBlock_z5vGUmnb9NS2" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(g) <span id="xdx_868_zmQYSBtRL0pf">Inventories</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Inventories consist of bunkers, lubricants, stores and provisions. Inventories are stated at the lower of cost or net realizable value as determined using the first-in, first-out method.</span></p> <p id="xdx_84E_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zkufrbHQ33vc" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(h) <span id="xdx_865_zeOAYbGjS6H4">Accounts receivable, net</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company carries its accounts receivable at cost less, if appropriate, an allowance for doubtful accounts, based on a periodic review of accounts receivable, taking into account past write-offs, collections and current credit conditions. The Company does not generally charge interest on past-due accounts. Allowances for doubtful accounts amount to $nil as of December 31, 2022 (2021: $nil). <span id="xdx_90D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20221231_zBvRdZcCIywb" title="Allowances of doubtful accounts"><span id="xdx_908_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20211231_zkn3R3LFdutl" style="display: none" title="Allowances of doubtful accounts">0</span></span></span></p> <p id="xdx_846_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zIwoC1frKDbb" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(i) <span id="xdx_866_z7yLq2niIxAd">Vessels in operation</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Vessels are generally recorded at their historical cost, which consists of the acquisition price and any material expenses incurred upon acquisition, adjusted for the fair value of intangible assets or liabilities associated with above or below market charters attached to the vessels at acquisition. See Intangible Assets and Liabilities at note 2(k) below. Vessels acquired in a corporate transaction accounted for as an asset acquisition are stated at the acquisition price, which consists of consideration paid, plus transaction costs, considering pro rata allocation based on vessels fair value at the acquisition date. Vessels acquired in a corporate transaction accounted for as a business combination are recorded at fair value. Vessels acquired as part of the Marathon Merger in 2008 were accounted for under ASC 805, which required that the vessels be recorded at fair value, less the negative goodwill arising as a result of the accounting for the merger.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Subsequent expenditures for major improvements and upgrades are capitalized, provided they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Borrowing costs incurred during the construction of vessels or as part of the prefinancing of the acquisition of vessels are capitalized. There was <span id="xdx_90B_eus-gaap--InterestCostsCapitalized_do_c20220101__20221231_zwITzRnfZxne" title="Capitalized interest"><span id="xdx_90B_eus-gaap--InterestCostsCapitalized_do_c20210101__20211231_zxsvDYqCdzvd" title="Capitalized interest"><span id="xdx_902_eus-gaap--InterestCostsCapitalized_do_c20200101__20201231_zSNWVoh87lji" title="Capitalized interest">no</span></span></span> capitalized interest for the years ended December 31, 2022, 2021 and 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Vessels are stated less accumulated depreciation and impairment, if applicable. Vessels are depreciated to their estimated residual value using the <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentDepreciationMethods_c20220101__20221231_z7DOJcEemWbi">straight-line</span></span> <span style="font-size: 10pt">method over their estimated useful lives which are reviewed on an ongoing basis to ensure they reflect current technology, service potential and vessel structure. The useful lives are estimated to be <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231_zWg3iz9nzmii">30 </span></span><span style="font-size: 10pt">years from original delivery by the shipyard.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(i) Vessels in operation (continued) </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Management estimates the residual values of the Company’s container vessels based on a scrap value cost of steel times the weight of the vessel noted in lightweight tons (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revision of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Management estimated the residual values of its vessels based on scrap rate of $<span id="xdx_908_ecustom--EstimatedResidualValueShipsPerLightweightTon_pp0p0_c20220101__20221231_zDUt4wASSWVi" title="Estimated residual scrap value of vessels per lightweight ton (LWT)">400 </span></span><span style="font-size: 10pt">per LWT</span>.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The cost and related accumulated depreciation of assets retired or sold are removed from the accounts at the time of sale or retirement and any gain or loss is included in the Consolidated Statements of Income.</span></p> <p id="xdx_84E_eus-gaap--DeferredChargesPolicyTextBlock_zYrPZmJalvH1" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(j) <span id="xdx_864_zkrpbfrBpbsg">Deferred charges, net</span> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Drydocking costs are reported in the Consolidated Balance Sheets within "Deferred charges, net", and include planned major maintenance and overhaul activities for ongoing certification. The Company follows the deferral method of accounting for drydocking costs, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period of <span id="xdx_908_ecustom--PeriodBetweenScheduledDrydockings_dc_c20220101__20221231_zqvGld5dG86g" title="Period Between Scheduled Drydockings">five years</span> until approximately the next scheduled drydocking. Any remaining unamortized balance from the previous drydocking is written-off.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The amortization period reflects the estimated useful economic life of the deferred charge, which is the period between each drydocking. Costs incurred during the drydocking relating to routine repairs and maintenance are expensed. The unamortized portion of drydocking costs for vessels sold is included as part of the carrying amount of the vessel in determining the gain or (loss) on sale of the vessel.</span></p> <p id="xdx_844_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zXDSqoZwMrM7" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(k) <span id="xdx_86C_zL4WAcAutot8">Intangible assets and liabilities - charter agreements</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company’s intangible assets and liabilities consist of unfavorable lease terms on charter agreements acquired in assets acquisitions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an intangible asset is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel and equivalent duration of charter party at the date the vessel is delivered. Where charter rates are less than market charter rates, an intangible liability is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates (including duration), the level of utilization of its vessels and its weighted average cost-of capital (“WACC”). The estimated market charter rate (including duration) is considered a significant assumption. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the relevant lease term and the amortization expense or income respectively is included under the caption “Amortization of intangible liabilities-charter agreements” in the Consolidated Statements of Income. For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p id="xdx_843_eus-gaap--PropertyPlantAndEquipmentImpairment_zlGsGza7w52" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(l) <span id="xdx_861_z6RZUKSX7Jtl">Impairment of Long-lived assets</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Tangible fixed assets, such as vessels, that are held and used or to be disposed of by the Company are reviewed for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. In these circumstances, the Company performs step one of the impairment test by comparing the undiscounted projected net operating cash flows for each vessel group to its carrying value. A vessel group comprises the vessel, the unamortized portion of deferred drydocking related to the vessel and the related carrying value of the intangible asset or liability (if any) with respect to the time charter attached to the vessel at its purchase. If the undiscounted projected net operating cash flows of the vessel group are less than its carrying amount, management proceeds to step two of the impairment assessment by comparing the vessel group’s carrying amount to its fair value, including any applicable charter, and an impairment loss is recorded equal to the difference between the vessel group’s carrying value and fair value. Fair value is determined with the assistance from valuations obtained from third party independent ship brokers.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>  </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_903_ecustom--FutureCharterRateAssumptions_c20220101__20221231_zvMNwn5ilp1b" title="Future charter rate assumptions">The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet (iii) operating costs, based on current levels escalated over time based on long term trends (iv) dry docking frequency, duration and cost  (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Revenue assumptions are based on contracted charter rates up to the end of the existing contract of each vessel, and thereafter, estimated time charter rates for the remaining life of the vessel. The estimated time charter rate used for non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container shipping industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that using forecast charter rates in the four years from the date of the impairment assessment and a reversion to the historical mean of time charter rates thereafter, represents a reasonable benchmark for the estimated time charter rates for the non-contracted revenue days, and takes into account the volatility and cyclicality of the market.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through the latter part of 2022, the Company noted that charter rates in the spot market had come under pressure and accordingly determined that events occurred and circumstances had changed, which indicated that potential impairment of the Company’s long-lived assets could exist. These indicators included continued volatility in the spot market and the related impact of the current container sector on management’s expectation for future revenues. As a result, step one of the impairment assessment of each of the vessel groups was performed as at December 31, 2022 and step two of the impairment analysis was required for one vessel group, as its undiscounted projected net operating cash flows did not exceed its carrying value. As a result, the Company recorded an impairment loss of $<span id="xdx_904_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zLadtpeJcZOc" title="Vessel impairment charges">3,033 </span></span><span style="font-size: 10pt">for <span id="xdx_907_ecustom--NumberOfVesselsImpairmentChargeRecognized_dc_uPure_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_ziJmUBzqGJs4">one</span> vessel asset group with a total aggregate carrying amount of $<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zd3Tn8uyRAVa">9,033 </span></span><span style="font-size: 10pt">which was written down to its fair value of $<span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_z83BjmVHqfda" title="Fair value of property, plant and equipment">6,000 </span></span><span style="font-size: 10pt">(see note 4).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through 2021, the Company evaluated the impact of current economic situation on the recoverability of all its vessel groups and determined that there was no triggering event and no impairment test was performed for the year ended December 31, 2021.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through 2020, whilst charter rates in the spot market and asset values saw improvements, taking into account the seasonal as well as cyclical nature of the container shipping industry, the recovery was not considered to have been sufficiently sustained not to undertake a review for impairment for vessel groups where the carrying value as at December 31, 2020 might not be recoverable. As a result, step one of the impairment assessment of each of the vessel groups was performed as at December 31, 2020. As the undiscounted projected net operating cash flows of each of the vessel groups exceeded the carrying amount, step two of the impairment test was not required and there were no impairment charges as of December 31, 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_907_ecustom--NumberOfVesselsSold_dc_uPure_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zkXEzhIHTM1g" title="Number of vessels sold">Two</span> 1999-built, <span id="xdx_902_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseMember_zSqd7Lc8AVe8" title="Capacity in TEUs"><span id="xdx_909_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--UtrilloMember_zEW2TRi2aXEc" title="Capacity in TEUs">2,200</span></span> TEU feeder ships, GSL Matisse and Utrillo, were sold on <span id="xdx_902_ecustom--VesselSaleDate_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseMember_zgATfwHMVrj6" title="Date of vessel sale">July 3, 2020</span> and <span id="xdx_909_ecustom--VesselSaleDate_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--UtrilloMember_znvu2zM78fNb" title="Date of vessel sale">July 20, 2020</span>, respectively.  As of June 30, 2020, the vessels were immediately available for sale and qualified as assets held for sale. As of March 31, 2020, the Company had an expectation that the vessels would be sold before the end of their previously estimated useful life, and as a result performed an impairment test of the specific asset group. An impairment charge of $<span id="xdx_903_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20200331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zosEsmkciRri" title="Impairment of vessels">7,585</span> was recognized for the three months ended March 31, 2020 and an additional impairment charge of $<span id="xdx_90D_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200401__20200630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_z3TegDo13YSh" title="Impairment of vessels">912</span> had been recognized in the three months ended June 30, 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--DebtPolicyTextBlock_zs6PCbYtWpxa" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(m) <span id="xdx_862_zjBLVwc8SF08">Deferred financing costs</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Costs incurred in connection with obtaining long-term debt and in obtaining amendments to existing facilities are recorded as deferred financing costs and are amortized to interest expense using the effective interest method over the estimated duration of the related debt. Such costs include fees paid to the lenders or on the lenders’ behalf and associated legal and other professional fees. Debt issuance costs, other than any up-front arrangement fee for revolving credit facilities, related to a recognized debt liability are presented as a direct deduction from the carrying amount of that debt.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p id="xdx_845_ecustom--PreferredSharesPolicyTextBlock_zg2WQeZSZXfd" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b>(n) <span id="xdx_86F_z08nqyTe21Zk">Preferred shares</span></b></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Series B Preferred Shares were originally issued in August 2014 and have been included within Equity in the Consolidated Balance Sheets since their initial issue in August 2014 and increased in 2019, 2020 and 2021 with the introduction of ATM program see note 16, and the dividends are presented as a reduction of Retained Earnings or addition to Accumulated Deficit in the Consolidated Statements of Changes in Shareholders’ Equity as their nature is similar to that of an equity instrument rather than a liability. Holders of these redeemable perpetual preferred shares, which may only be redeemed at the discretion of the Company, are entitled to receive a dividend equal to <span id="xdx_901_eus-gaap--PreferredStockDividendRatePercentage_dp_uPure_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z1yyDrybQPWh" title="Preferred shares dividend rate percentage">8.75</span>% on the original issue price, should such dividend be declared, and rank senior to the common shares with respect to dividend rights and rights upon liquidation, dissolution or winding up of the Company.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The <span id="xdx_902_ecustom--PreferredStockIssuedDuringPeriodSharesNewIssues_pip0_c20180101__20181115__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z0mk3IRn7ff4" title="Series C Preferred issues | shares"><span id="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_pip0_c20210101__20210120__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__srt--CounterpartyNameAxis__custom--KelsoMember_zzIjooxss4fi" title="Conversion of stock shares converted | shares">250,000</span></span> Series C Perpetual Convertible Preferred Shares (the “Series C Preferred Shares”) have been included within Equity in the Consolidated Balance Sheets, from their issue on November 15, 2018. The Series C Preferred Shares were convertible in certain circumstances to Class A common shares and they were entitled to a dividend only should such a dividend be declared on the Class A common shares. On January 20, 2021, upon the redemption in full of the <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zxXflb3uaOt">9.875</span>% First Priority Secured Notes due 2022 (the “2022 Notes”), Series C Preferred shares converted to Class A common shares see note 16.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_zwyLsU3t0re7" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(o)</b> <b><span id="xdx_86E_zvxvM0BJzva9">Other comprehensive income</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Other comprehensive income, which is reported in the Consolidated Statements of Changes in Shareholders’ Equity, consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. Under ASU 2011-05, an entity reporting comprehensive income in a single continuous financial statement shall present its components in two sections, net income and other comprehensive income. For year ended December 31, 2022 the Company recorded an unrealized gain on the interest rate caps, , amortization of interest rate cap premium and an amount reclassified to earnings of $<span id="xdx_90B_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_pn3n3_c20220101__20221231_zVK95bWB68Pf">31,221</span>, $<span id="xdx_90F_ecustom--AmortizationOfInterestRateCapPremium_pn3n3_c20220101__20221231_z6pfo2u5ylZ1">1,123</span> and ($<span id="xdx_900_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_c20220101__20221231_zOgohVfxX2Mj">1,091</span>), </span><span style="font-size: 10pt">respectively, reported as a component of other comprehensive income and presented in the Consolidated Statements of Comprehensive Income (see note 9). For year ended December 31, 2021, the Company recorded an unrealized gain on the interest rate caps of $<span id="xdx_90B_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_pn3n3_c20210101__20211231_zPKXQspJYo9i">227</span></span><span style="font-size: 10pt">, $nil for amortization of interest rate cap premium and <span id="xdx_90D_ecustom--AmortizationOfInterestRateCapPremium_pn3n3_do_c20210101__20211231_zF2mGErTfCO"><span id="xdx_906_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_do_c20210101__20211231_z5BUiF2Vo3Af">no</span></span> amount reclassified to earnings. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--RevenueRecognitionPolicyTextBlock_zOtTZi3qjl36" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(p) <span id="xdx_86D_zswZIWBqjo1d">Revenue recognition and related expense</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company charters out its vessels on time charters which involves placing a vessel at a charterer’s disposal for a specified period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Such charters are accounted for as operating leases and therefore revenue is recognized on a straight-line basis as the average revenues over the rental periods of such charter agreements, as service is performed. Cash received in excess of earned revenue is recorded as deferred revenue. If a time charter contains one or more consecutive option periods, then subject to the options being exercisable solely by the Company, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter, including any options which are more likely than not to be exercised. If a time charter is modified, including the agreement of a direct continuation at a different rate, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter from the date of modification. During the years ended December 31, 2022 and 2021, an amount of $<span id="xdx_904_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_pn3n3_c20220101__20221231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zzDJXIvZxFG3" title="Charter revenue">10,899</span> and $<span id="xdx_908_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_pn3n3_c20210101__20211231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zPE9KG8vmDo4" title="Charter revenue">15,869</span>, respectively, has been recorded in time charter-revenues for such modifications and revenues recognized on a straight-line basis. Any difference between the charter rate invoiced and the time charter revenue recognized is classified as, or released from, deferred revenue. As of December 31, 2022, current and non-current portion from implementing the straight-line basis, amounting to $<span id="xdx_903_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20221231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zWWaMioU5BL3" title="Other current assets">6,487</span> ($<span id="xdx_905_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20211231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zxDqhWtJXy35" title="Other current assets">2,866</span> and $nil <span style="display: none"><span id="xdx_904_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20201231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zhWGw6yJPwB7" title="Other current assets">0</span></span>as for December 31, 2021 and 2020, respectively) and $<span id="xdx_909_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20221231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zwZBy1TSaIdk">21,144</span> ($<span id="xdx_908_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20211231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zoIDLdFWlXA7">14,010</span> and $<span id="xdx_904_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20201231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zp54z405iEI1" style="display: none">0</span>nil as for December 31, 2021 and 2020, respectively), respectively, are presented in the Consolidated Balance Sheets in the line item “Prepaid expenses and other current assets” and “Other non-current assets”, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(p) Revenue recognition and related expense (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Revenues are recorded net of address commissions, which represent a discount provided directly to the charterer based on a fixed percentage of the agreed upon charter rate. Charter revenue received in advance which relates to the period after a balance sheet date is recorded as deferred revenue within current liabilities until the respective charter services are rendered. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Under time charter arrangements the Company, as owner, is responsible for all the operating expenses of the vessels, such as crew costs, insurance, repairs and maintenance, and such costs are expensed as incurred and are included in vessel operating expenses.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Commission paid to brokers to facilitate the agreement of a new charter are included in time charter and voyage expenses as are certain expenses related to a voyage, such as the costs of bunker fuel consumed when a vessel is off-hire or idle. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>Leases:</b> In cases of lease agreements where the Company acts as the lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the Consolidated Balance Sheets. Following initial recognition and with regards to subsequent measurement the Company remeasures lease liability and right of use asset at each reporting date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Leases where the Company acts as the lessor are classified as either operating or sales-type / direct financing leases.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In cases of lease agreements where the Company acts as the lessor under an operating lease, the Company keeps the underlying asset on the Consolidated Balance Sheets and continues to depreciate the assets over its useful life. In cases of lease agreements where the Company acts as the lessor under a sales-type / direct financing lease, the Company derecognizes the underlying asset and records a net investment in the lease. The Company acts as a lessor under operating leases in connection with all of its charter out - bareboat-out arrangements.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In cases of sale and leaseback transactions, if the transfer of the asset to the lessor does not qualify as a sale, then the transaction constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset. During 2021, the Company has entered into <span id="xdx_90E_ecustom--SaleAndLeasebackTransactionsFailedNumber_dc_uPure_c20210101__20211231_zOCHO7faq5rg">six</span> agreements which qualify as failed sale and leaseback transactions as the Company is required to repurchase the vessels at the end of the lease term and the Company has accounted for the six agreements as financing transactions.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the non-lease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as the lease components are the predominant characteristics.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b> </b></span></span></p> <p id="xdx_84D_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zUBNGwqlhoV7" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(q) <span id="xdx_860_zDtT8s0VDG84">Foreign currency transactions</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company’s functional currency is the U.S. dollar as substantially all revenues and a majority of expenditures are denominated in U.S. dollars. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet dates. Expenses paid in foreign currencies are recorded at the rate of exchange at the transaction date. Exchange gains and losses are included in the determination of net Income/(Loss).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b> </b></span></span></p> <p id="xdx_844_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zwrPEoAdq5sc" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(r) <span id="xdx_866_zzWpuIK5KT0l">Share based compensation</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company has awarded incentive stock units to its management and Directors as part of their compensation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Using the graded vesting method of expensing the incentive stock unit grants, the weighted average fair value of the stock units is recognized as compensation costs in the Consolidated Statements of Income over the vesting period. The fair value of the incentive stock units for this purpose is calculated by multiplying the number of stock units by the fair value of the shares at the grant date. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(s) <span id="xdx_86C_z7f7iS653oc9">Income taxes</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company and its Marshall Island subsidiaries are exempt from taxation in the Marshall Islands. Otherwise, the Company’s vessels are liable for tax based on the tonnage of the vessel, under the regulations applicable to the country of incorporation of the vessel owning company, which is included within vessels’ operating expenses.</span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-size: 10pt">The Cyprus and Hong Kong subsidiaries are also liable for income tax on any interest income earned from non-shipping activity.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company has <span id="xdx_90F_ecustom--NumberOfSubsidiaries_dc_uPure_c20220101__20221231__srt--StatementGeographicalAxis__country--GB_zFhvI9Y0Ltji"><span id="xdx_90D_ecustom--NumberOfSubsidiaries_dc_uPure_c20210101__20211231__srt--StatementGeographicalAxis__country--GB_z4gjzk47MZfd"><span id="xdx_903_ecustom--NumberOfSubsidiaries_dc_uPure_c20200101__20201231__srt--StatementGeographicalAxis__country--GB_zkLDXQpc6l3d">one</span></span> </span></span><span style="font-size: 10pt">subsidiary in the United Kingdom, where the principal rate of corporate income tax for 2022 is <span id="xdx_905_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20220101__20221231__srt--StatementGeographicalAxis__country--GB_zfXu0e86Kkah">19</span></span><span style="font-size: 10pt">% (2021: <span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20210101__20211231__srt--StatementGeographicalAxis__country--GB_zGOQoIoCsiI8">19</span></span><span style="font-size: 10pt">% and 2020:<span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20200101__20201231__srt--StatementGeographicalAxis__country--GB_zwOxMnINvt45">19</span></span><span style="font-size: 10pt">%). There has been no change to the applicable tax rate in the year. In the Spring Budget 2021, the UK government announced an increase in the main corporation tax rate from 19% to <span id="xdx_905_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20230401__srt--StatementGeographicalAxis__country--GB_zsGL3zDa9Ji5">25</span></span><span style="font-size: 10pt">% with effect from 1 April 2023.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company recognizes uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based solely on the technical merits of the position.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--DividendsPolicyTextBlock_zeBHOxoRqub5" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(t) <span id="xdx_864_zVevz7QTiy42">Dividends</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Dividends are recorded in the period in which they are declared by the Company’s Board of Directors. Dividends to be paid are presented in the Consolidated Balance Sheets in the line item “Accrued Liabilities”.</span></p> <p id="xdx_840_eus-gaap--EarningsPerSharePolicyTextBlock_z75EqFF8FmDj" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(u) <span id="xdx_861_zhJdUuOw9nR">Earnings per share</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Basic earnings per common share are based on income available to common shareholders divided by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock units. Diluted income per common share are calculated by applying the treasury stock method. All unvested restricted stock units that have a dilutive effect are included in the calculation. The basic and diluted earnings per share for the period are presented for each category of participating common shares under the two-class method.</span></p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zv2pe5HkxOYc" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(v) <span id="xdx_863_zHDzwlyiSBh3">Risks Associated with Concentration</span> </b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company is exposed to certain concentration risks that may adversely affect the Company’s financial position in the near term:</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td colspan="2"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: left"><span style="font-size: 10pt">(i)</span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt">The Company derives its revenue from liner companies which are exposed to the cyclicality of the container shipping industry.</span></td></tr> <tr> <td colspan="2"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: left"><span style="font-size: 10pt">(ii)</span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: justify"><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">There is a minimum concentration of credit risk with respect to cash and cash equivalents at December 31, 2022, to the extent that substantially all of the amounts are deposited with <span id="xdx_906_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20221231_zzYYSmwYPu93" title="Number of banks holding deposits">nine</span> banks (2021: <span id="xdx_90F_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20211231_zi5dR2JptY03" title="Number of banks holding deposits">ten</span> banks). The Company believes this risk is remote as the banks are high credit quality financial institutions.</span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt"> </span></p></td></tr> </table> <p id="xdx_84B_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zZNlPUDjH6v" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(w) <span id="xdx_868_zVrctt2EcBxh">Segment Reporting</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company reports financial information and evaluates its operations by charter revenues and not by the length of ship employment for its customers. The Company does not use discrete financial information to evaluate operating results for each type of charter. Management does not identify expenses, profitability or other financial information by charter type. As a result, management reviews operating results solely by revenue per day and operating results of the fleet and thus the Company has determined that it operates under <span id="xdx_90A_eus-gaap--NumberOfReportableSegments_dc_uPure_c20220101__20221231_zQO0iTbhL2xc">one </span></span><span style="font-size: 10pt">reportable segment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p id="xdx_84F_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zIWv7RBMuwh2" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(x) <span id="xdx_864_z6GfmGcTjGXa">Fair Value Measurement and Financial Instruments</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Financial instruments carried on the Consolidated Balance Sheets include cash and cash equivalents, restricted cash, time deposits, trade receivables and payables, other receivables and other liabilities and long-term debt. The particular recognition methods applicable to each class of financial instrument are disclosed in the applicable significant policy description of each item or included below as applicable.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><i>Fair value measurement: </i></b>Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The hierarchy is broken down into three levels based on the observability of inputs as follows:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>Level 1 </b>– Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Level 2 </b>– Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Level 3 </b>– Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through the latter part of 2022, the Company noted that charter rates in the spot market had come under pressure and accordingly determined that events occurred and circumstances had changed, which indicated that potential impairment of the Company’s long-lived assets could exist. These indicators included continued volatility in the spot market and the related impact of the current container sector on management’s expectation for future revenues. As a result, step one of the impairment assessment of each of the vessel groups was performed as at December 31, 2022 and step two of the impairment analysis was required for one vessel group, as its undiscounted projected net operating cash flows did not exceed its carrying value. As a result, the Company recorded an impairment loss of $<span id="xdx_903_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zlAFR4jcOmZk" title="Vessel impairment charges">3,033 </span></span><span style="font-size: 10pt">for one vessel asset group with a total aggregate carrying amount of $<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zdv8dkfO8zdd">9,033 </span></span><span style="font-size: 10pt">which was written down to its fair value of $<span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zP7hNhEl8mTg" title="Fair value of property, plant and equipment">6,000</span></span><span style="font-size: 10pt">.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">During 2020, two of the Company’s vessel groups with a total aggregate carrying amount of $<span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20201231__us-gaap--ImpairedLongLivedAssetsHeldAndUsedByTypeAxis__custom--TwoVesselGroupsMember_zNufW9MkBX3g" title="Total aggregate carrying amount">15,585</span> were written down to their fair value resulting in a non-cash impairment charge of $<span id="xdx_904_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20201231__us-gaap--ImpairedLongLivedAssetsHeldAndUsedByTypeAxis__custom--TwoVesselGroupsMember_zn8BaTz6IMH8" title="Vessel impairment charges">8,497</span> which was allocated to the respective vessels’ carrying values. Total impairment charge of $<span id="xdx_907_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20201231_z3xXEZnvEgAc" title="Vessel impairment charges">8,497</span> was included in the Consolidated Statements of Income for the year ended December 31, 2020. The estimated fair value, measured on a non-recurring basis, of the Company’s relevant three vessel groups that are held and used is calculated with the assistance of valuation obtained by third party independent ship brokers. Therefore, the Company has categorized the fair value of these vessels as Level II in the fair value hierarchy.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In December 2021</span><span style="font-size: 10pt">, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_904_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zGmfi8gzIyGg">484.1 </span></span><span style="font-size: 10pt">million, which amortizes over time as the Company’s outstanding debt balances decline. In February 2022</span><span style="font-size: 10pt">, the Company further hedged its exposure by putting in place <span id="xdx_908_ecustom--IntrerestRateCapsNumber_dcp_uPure_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zF9atcxmxmxf">two </span></span><span style="font-size: 10pt">USD one-month LIBOR interest rate caps of <span id="xdx_901_eus-gaap--DerivativeCapInterestRate_iI_dp_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zIDUqouspi">0.75</span></span><span style="font-size: 10pt">% through <span id="xdx_901_ecustom--DerivativeMaturityDates1_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z7CUpydkDQL1">fourth quarter 2026</span></span><span style="font-size: 10pt">, on $<span id="xdx_905_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z1mCaL6GZ8V7">507.9 </span></span><span style="font-size: 10pt">million of its floating rate debt. The second interest rate cap was not designated as a cash flow hedge and therefore the positive fair value adjustment of $<span id="xdx_90E_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zk9bGXwD07e3">9,685 </span></span><span style="font-size: 10pt">as at December 31, 2022 was recorded through Consolidated Statements of Income ($nil <span id="xdx_908_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20200101__20201231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zg6cow4vQZi2" style="display: none">0</span></span><span style="font-size: 10pt">for December 31, 2021 and 2020). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. The Company is designating certain future interest payments on its outstanding variable-rate debt as the hedged item in this relationship. Under ASC 815-20-25-106e, “for cash flow hedges of the interest payments on only a portion of the principal amount of the interest-bearing asset or liability, the notional amount of the interest rate cap designated as the hedging instrument matches the principal amount of the portion of the asset or liability on which the hedged interest payments are based”. In this case, <span id="xdx_902_eus-gaap--DerivativeDescriptionOfHedgedItem_c20220101__20221231_zFDkjYeDcxEd">the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span>. </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assesses the effectiveness of the hedges on an ongoing basis. The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/><p style="font: 12pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b>(x) Fair Value Measurement and Financial Instruments (continued)</b></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b/></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2022, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $<span id="xdx_900_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_c20220101__20221231_z0D4o6wvItnj" title="Unrealized gain on the interest rate caps">1,091 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">was reclassified from other comprehensive income to the Consolidated Statements of Income.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="font-size: 10pt"/></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The objective of the hedges is to reduce the variability of cash flows associated with the interest rates relating to the Company’s variable rate borrowings. When derivatives are used, the Company is exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, <i>Derivatives and Hedging</i>, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs – Level 2 inputs). As of December 31, 2022 and 2021, the Company recorded a derivative asset of $<span id="xdx_90A_eus-gaap--DerivativeAssets_iI_pn3n3_c20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z1yefmHyK5z1">63,503</span> and $<span id="xdx_901_eus-gaap--DerivativeAssets_iI_pn3n3_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zbOQ3163OuGg">7,227</span>, respectively (see note 9).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><i>Financial Risk Management:</i></b> The Company activities expose it to a variety of financial risks including fluctuations in, time charter rates, credit and interest rates risk. Risk management is carried out under policies approved by executive management. Guidelines are established for overall risk management, as well as specific areas of operations.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 12pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b><i>Credit risk:</i></b> The Company closely monitors its credit exposure to customers and counter-parties for credit risk. The Company has entered into commercial management agreement with Conchart Commercial Inc. (“Conchart”), pursuant to which Conchart has agreed to provide commercial management services to the Company, including the negotiation, on behalf of the Company, of vessel employment contracts (see note 14). Conchart has policies in place to ensure that it trades with customers and counterparties with an appropriate credit history.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and cash and cash equivalents and time deposits. The Company does not believe its exposure to credit risk is likely to have a material adverse effect on its financial position, results of operations or cash flows.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><i>Liquidity Risk:</i></b> Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Company monitors cash balances appropriately to meet working capital needs.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt"><b><i>Foreign Exchange Risk:</i></b> Foreign currency transactions are translated into the measurement currency rates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the Consolidated Statements of Income.</span></p> <p id="xdx_844_eus-gaap--DerivativesPolicyTextBlock_zeswqgy4BFTe" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(y) <span id="xdx_86E_zFFSqrYSAIb7">Derivative instruments</span> </b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company is exposed to interest rate risk relating to its variable rate borrowings. In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_909_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zQ1VhS2Ozcii">484.1</span> million (“December 2021 hedging”), which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">This transaction is designated as a cash flow hedge, and under ASU 2017-12, cash flow hedge accounting allows all changes in fair value to be recorded through Other Comprehensive Income once hedge effectiveness has been established. Under ASC 815-30-35-38, amounts in accumulated other comprehensive income shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings (i.e., each quarter) and shall be presented in the same income statement line item as the earnings effect of the hedged item in accordance with paragraph 815-20-45-1A.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(y) Derivative instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The premium paid related to this derivative was classified in the Consolidated Statements of Cash Flows as operating activities in the line item “Derivative asset”. The premium shall be amortized into earnings “on a systematic and rational basis over the period in which the hedged transaction affects earnings” (ASC 815-30-35-41A); that is, the Company will expense the premium over the life of the interest rate cap in accordance with the “caplet method,” as described in Derivatives Implementation Group (DIG) Issue G20. DIG Issue G20 dictates that the cost of the interest rate cap is recognized on earnings over time, based on the value of each periodic caplet. The cost per period will change as the caplet for that period changes in value. Given that the interest rate cap is forward-starting, expensing of the premium will not begin until the effective start date of the interest rate cap, in order to match potential cap revenue with the cap expenses in the period in which they are incurred.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In February 2022, the Company further purchased two interest rate caps with an aggregate notional amount of $<span id="xdx_90D_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zHMNVRIF4qpl">507.9</span> million. The first interest rate cap of $253.9 million which has been designated as a cash flow hedge, has the same accounting treatment as described above for the December 2021 hedging. The second interest rate cap was not designated as a cash flow hedge and therefore the positive fair value adjustment of $<span id="xdx_909_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zkXJHAsHiZB9">9,685</span> as at December 31, 2022 was recorded through Consolidated Statements of Income ($nil for December 31, 2021 and 2020). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, <span id="xdx_902_eus-gaap--DerivativeDescriptionOfHedgedItem_c20220101__20221231_zeeCDBKEJQWd">the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span> (see note 9). <span id="xdx_903_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zY49oV4gL2S3"><span id="xdx_90B_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20200101__20201231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zmHaNi9LXMhg" style="display: none">0</span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span><span style="display: none"> </span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of December 31, 2022, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $<span id="xdx_90D_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_c20220101__20221231_zbTbP1P95r8b" title="Unrealized gain on the interest rate caps">1,091</span> was reclassified from other comprehensive income to the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zFmvx0Uqvm9" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(z) <span id="xdx_86B_zim0F8Uhocl7">Recently issued accounting standards</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company does not believe that any recently issued, but not yet effective, accounting pronouncements would have a material impact on its consolidated financial statements.</span></p> <p id="xdx_851_zrJdcmFyFOyk" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> <p id="xdx_84F_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zhi2nfXOTHc4" style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) <span id="xdx_865_zDic4y961l71">Basis of Presentation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The accompanying consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (“<span id="xdx_90D_edei--DocumentAccountingStandard_c20220101__20221231_z7kYnTQMMPmk" title="Document accounting standard">U.S. GAAP</span>”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--StockholdersEquityReverseStockSplit_c20190101__20190325__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--ReverseStockSplitMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zTMRRvW56vb4" title="Stockholders' Equity, Reverse Stock Split">On March 25, 2019, the Company’s common shares began trading on a reverse-split-adjusted basis, following approval received from the Company’s shareholders at a Special Meeting held on March 20, 2019 and subsequently approval from the Company’s Board of Directors to reverse split the Company’s common shares at a ratio of one-for-eight. The Class A common shares per share amounts disclosed in the consolidated financial statements and notes give effect to the reverse stock split retroactively, for all years presented.</span> <span id="xdx_903_eus-gaap--StockholdersEquityNoteStockSplitConversionRatio1_dc_c20190101__20190325__us-gaap--ConversionOfStockByUniqueDescriptionAxis__custom--ReverseStockSplitMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zvehk8zF3g5b" style="display: none" title="Stockholders' Equity Note, Stock Split, Conversion Ratio">eight</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">During the year ended December 31, 2022, the Company has made reclassifications to the prior year statement of cash flows to correct and reclassify debt premiums paid from operating outflows to financing outflows which resulted in a decrease in operating outflows and increase in financial outflows of $<span id="xdx_90A_eus-gaap--PriorPeriodReclassificationAdjustment_pn3n3_c20220101__20221231_zDNHQiiMLJs6">3,230</span> for the year ended December 31, 2021. The Company evaluated the reclassifications from both a quantitative and qualitative perspective and determined the impacts were not material to any previously issued annual financial statements.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> <span style="font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(a) Basis of Presentation (continued) </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Adoption of new accounting standards </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">In March 2020, the FASB issued ASU 2020-4, “Reference Rate Reform (Topic 848)” (“ASU 2020-4”), which provides optional guidance intended to ease the potential burden in accounting for the expected discontinuation of LIBOR as a reference rate in the financial markets. The guidance can be applied to modifications made to certain contracts to replace LIBOR with a new reference rate. The guidance, if elected, will permit entities to treat such modifications as the continuation of the original contract, without any required accounting reassessments or remeasurements. The ASU 2020-4 was effective for the Company beginning on March 12, 2020 and the Company applied the amendments prospectively through December 31, 2022. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, in December 2022 the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848)”. The amendments of this update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. Currently, the Company has various other contracts that reference LIBOR. The Company has modified one contract to replace LIBOR with SOFR and elected to apply the modification accounting. There was no impact to the Company’s audited consolidated financial statements for the year ended December 31, 2022 as a result of adopting this standard.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>COVID-19 Pandemic</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On March 11, 2020, the World Health Organization declared the novel coronavirus (“COVID-19”) outbreak a pandemic. Since the beginning of calendar year 2020, the outbreak of COVID-19 pandemic has resulted in the implementation of numerous actions taken by governments and governmental agencies in an attempt to mitigate the spread of the virus, including, among others, business closures, quarantines, travel restrictions, and physical distancing requirements. These actions have caused substantial disruptions in the global economy and the shipping industry, as well as significant volatility in the financial markets, the severity and duration of which remains uncertain.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although the incidence and severity of COVID-19 and its variants have diminished over time, periodic spikes in incidence occur. Many nations worldwide have significantly eased or eliminated restrictions that were enacted at the outset of the outbreak of COVID-19. The World Health Organization officials had expressed hope that COVID-19 might be entering an endemic phase by early 2023, but the continued uncertainties associated with the COVID-19 pandemic worldwide may cause an adverse impact on the global economy and the rate environment for the Company’s vessels may deteriorate and its operations and cash flows may be negatively impacted.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While the Company cannot predict the long-term economic impact of the COVID-19 pandemic, it will continue to actively monitor the situation and may take further actions to alter the Company’s business operations that it determines are in the best interests of its employees, customers, partners, suppliers, and stakeholders, or as required by authorities in the jurisdictions where the Company operates. As a result, many of the Company’s estimates and assumptions required increased judgement and carry a higher degree of variability and volatility. The ultimate effects that any such alterations or modifications may have on the Company’s business are not clear, including any potential negative effects on its business operations and financial results.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"/></p> U.S. GAAP On March 25, 2019, the Company’s common shares began trading on a reverse-split-adjusted basis, following approval received from the Company’s shareholders at a Special Meeting held on March 20, 2019 and subsequently approval from the Company’s Board of Directors to reverse split the Company’s common shares at a ratio of one-for-eight. The Class A common shares per share amounts disclosed in the consolidated financial statements and notes give effect to the reverse stock split retroactively, for all years presented. 8 3230000 <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_z6oyItsrx9k9" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(b) <span id="xdx_86F_zqzORG0uVJEf">Principles of Consolidation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The accompanying consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries; the Company has no other material interests. All significant intercompany balances and transactions have been eliminated in the Company’s consolidated financial statements.</span></p> <p id="xdx_848_eus-gaap--UseOfEstimates_zh2Hq9aJtuTk" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(c) <span id="xdx_861_zJcE4gaDfhV8">Use of Estimates</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions and/or conditions.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p id="xdx_84F_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zDbjuYRCrXX4" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(d) <span id="xdx_866_zlhgsONlmjfa">Cash and cash equivalents</span></b></span></p><p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less.</span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p id="xdx_84F_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zTqpD45qRk44" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>(e) <span id="xdx_86F_zlM0CmOybprb">Restricted cash</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Restricted cash consists of retention accounts which are restricted in use and held in order to service debt and interest payments. In addition, restricted cash consists of pledged cash maintained with lenders and amounts built-up for future drydockings. Also includes restricted cash received in advance from charterers for future charter service.</span></p> <p id="xdx_849_ecustom--InsurancePolicyTextBlock_z4JDE6ht5Qd2" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(f) <span id="xdx_86E_z0OoPpBppor3">Insurance claims</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Insurance claims consist of claims submitted and/or claims in the process of compilation or submission. They are recorded on an accrual basis and represent the claimable expenses, net of applicable deductibles, incurred through December 31 of each reported period, which are probable to be recovered from insurers. Any outstanding costs to complete the claims are included in accrued liabilities. The classification of insurance claims into current and non-current assets is based on management’s expectation as to the collection dates.</span></p> <p id="xdx_84F_eus-gaap--InventoryPolicyTextBlock_z5vGUmnb9NS2" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(g) <span id="xdx_868_zmQYSBtRL0pf">Inventories</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Inventories consist of bunkers, lubricants, stores and provisions. Inventories are stated at the lower of cost or net realizable value as determined using the first-in, first-out method.</span></p> <p id="xdx_84E_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zkufrbHQ33vc" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(h) <span id="xdx_865_zeOAYbGjS6H4">Accounts receivable, net</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company carries its accounts receivable at cost less, if appropriate, an allowance for doubtful accounts, based on a periodic review of accounts receivable, taking into account past write-offs, collections and current credit conditions. The Company does not generally charge interest on past-due accounts. Allowances for doubtful accounts amount to $nil as of December 31, 2022 (2021: $nil). <span id="xdx_90D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20221231_zBvRdZcCIywb" title="Allowances of doubtful accounts"><span id="xdx_908_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iI_pn3n3_c20211231_zkn3R3LFdutl" style="display: none" title="Allowances of doubtful accounts">0</span></span></span></p> 0 0 <p id="xdx_846_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zIwoC1frKDbb" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(i) <span id="xdx_866_z7yLq2niIxAd">Vessels in operation</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Vessels are generally recorded at their historical cost, which consists of the acquisition price and any material expenses incurred upon acquisition, adjusted for the fair value of intangible assets or liabilities associated with above or below market charters attached to the vessels at acquisition. See Intangible Assets and Liabilities at note 2(k) below. Vessels acquired in a corporate transaction accounted for as an asset acquisition are stated at the acquisition price, which consists of consideration paid, plus transaction costs, considering pro rata allocation based on vessels fair value at the acquisition date. Vessels acquired in a corporate transaction accounted for as a business combination are recorded at fair value. Vessels acquired as part of the Marathon Merger in 2008 were accounted for under ASC 805, which required that the vessels be recorded at fair value, less the negative goodwill arising as a result of the accounting for the merger.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Subsequent expenditures for major improvements and upgrades are capitalized, provided they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Borrowing costs incurred during the construction of vessels or as part of the prefinancing of the acquisition of vessels are capitalized. There was <span id="xdx_90B_eus-gaap--InterestCostsCapitalized_do_c20220101__20221231_zwITzRnfZxne" title="Capitalized interest"><span id="xdx_90B_eus-gaap--InterestCostsCapitalized_do_c20210101__20211231_zxsvDYqCdzvd" title="Capitalized interest"><span id="xdx_902_eus-gaap--InterestCostsCapitalized_do_c20200101__20201231_zSNWVoh87lji" title="Capitalized interest">no</span></span></span> capitalized interest for the years ended December 31, 2022, 2021 and 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Vessels are stated less accumulated depreciation and impairment, if applicable. Vessels are depreciated to their estimated residual value using the <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentDepreciationMethods_c20220101__20221231_z7DOJcEemWbi">straight-line</span></span> <span style="font-size: 10pt">method over their estimated useful lives which are reviewed on an ongoing basis to ensure they reflect current technology, service potential and vessel structure. The useful lives are estimated to be <span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20220101__20221231_zWg3iz9nzmii">30 </span></span><span style="font-size: 10pt">years from original delivery by the shipyard.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>2. Summary of Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(i) Vessels in operation (continued) </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Management estimates the residual values of the Company’s container vessels based on a scrap value cost of steel times the weight of the vessel noted in lightweight tons (LWT). Residual values are periodically reviewed and revised to recognize changes in conditions, new regulations or other reasons. Revision of residual values affect the depreciable amount of the vessels and affects depreciation expense in the period of the revision and future periods. Management estimated the residual values of its vessels based on scrap rate of $<span id="xdx_908_ecustom--EstimatedResidualValueShipsPerLightweightTon_pp0p0_c20220101__20221231_zDUt4wASSWVi" title="Estimated residual scrap value of vessels per lightweight ton (LWT)">400 </span></span><span style="font-size: 10pt">per LWT</span>.</p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The cost and related accumulated depreciation of assets retired or sold are removed from the accounts at the time of sale or retirement and any gain or loss is included in the Consolidated Statements of Income.</span></p> 0 0 0 straight-line P30Y 400 <p id="xdx_84E_eus-gaap--DeferredChargesPolicyTextBlock_zYrPZmJalvH1" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(j) <span id="xdx_864_zkrpbfrBpbsg">Deferred charges, net</span> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Drydocking costs are reported in the Consolidated Balance Sheets within "Deferred charges, net", and include planned major maintenance and overhaul activities for ongoing certification. The Company follows the deferral method of accounting for drydocking costs, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period of <span id="xdx_908_ecustom--PeriodBetweenScheduledDrydockings_dc_c20220101__20221231_zqvGld5dG86g" title="Period Between Scheduled Drydockings">five years</span> until approximately the next scheduled drydocking. Any remaining unamortized balance from the previous drydocking is written-off.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The amortization period reflects the estimated useful economic life of the deferred charge, which is the period between each drydocking. Costs incurred during the drydocking relating to routine repairs and maintenance are expensed. The unamortized portion of drydocking costs for vessels sold is included as part of the carrying amount of the vessel in determining the gain or (loss) on sale of the vessel.</span></p> P5Y <p id="xdx_844_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zXDSqoZwMrM7" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(k) <span id="xdx_86C_zL4WAcAutot8">Intangible assets and liabilities - charter agreements</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company’s intangible assets and liabilities consist of unfavorable lease terms on charter agreements acquired in assets acquisitions. When intangible assets or liabilities associated with the acquisition of a vessel are identified, they are recorded at fair value. Fair value is determined by reference to market data and the discounted amount of expected future cash flows. Where charter rates are higher than market charter rates, an intangible asset is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel and equivalent duration of charter party at the date the vessel is delivered. Where charter rates are less than market charter rates, an intangible liability is recorded, based on the difference between the acquired charter rate and the market charter rate for an equivalent vessel. The determination of the fair value of acquired assets and liabilities requires the Company to make significant assumptions and estimates of many variables including market charter rates (including duration), the level of utilization of its vessels and its weighted average cost-of capital (“WACC”). The estimated market charter rate (including duration) is considered a significant assumption. The use of different assumptions could result in a material change in the fair value of these items, which could have a material impact on the Company’s financial position and results of operations. The amortizable value of favorable and unfavorable leases is amortized over the remaining life of the relevant lease term and the amortization expense or income respectively is included under the caption “Amortization of intangible liabilities-charter agreements” in the Consolidated Statements of Income. For any vessel group which is impaired, the impairment charge is recorded against the cost of the vessel and the accumulated depreciation as at the date of impairment is removed from the accounts.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p id="xdx_843_eus-gaap--PropertyPlantAndEquipmentImpairment_zlGsGza7w52" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(l) <span id="xdx_861_z6RZUKSX7Jtl">Impairment of Long-lived assets</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Tangible fixed assets, such as vessels, that are held and used or to be disposed of by the Company are reviewed for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. In these circumstances, the Company performs step one of the impairment test by comparing the undiscounted projected net operating cash flows for each vessel group to its carrying value. A vessel group comprises the vessel, the unamortized portion of deferred drydocking related to the vessel and the related carrying value of the intangible asset or liability (if any) with respect to the time charter attached to the vessel at its purchase. If the undiscounted projected net operating cash flows of the vessel group are less than its carrying amount, management proceeds to step two of the impairment assessment by comparing the vessel group’s carrying amount to its fair value, including any applicable charter, and an impairment loss is recorded equal to the difference between the vessel group’s carrying value and fair value. Fair value is determined with the assistance from valuations obtained from third party independent ship brokers.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>  </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_903_ecustom--FutureCharterRateAssumptions_c20220101__20221231_zvMNwn5ilp1b" title="Future charter rate assumptions">The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet (iii) operating costs, based on current levels escalated over time based on long term trends (iv) dry docking frequency, duration and cost  (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Revenue assumptions are based on contracted charter rates up to the end of the existing contract of each vessel, and thereafter, estimated time charter rates for the remaining life of the vessel. The estimated time charter rate used for non-contracted revenue days of each vessel is considered a significant assumption. Recognizing that the container shipping industry is cyclical and subject to significant volatility based on factors beyond the Company’s control, management believes that using forecast charter rates in the four years from the date of the impairment assessment and a reversion to the historical mean of time charter rates thereafter, represents a reasonable benchmark for the estimated time charter rates for the non-contracted revenue days, and takes into account the volatility and cyclicality of the market.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through the latter part of 2022, the Company noted that charter rates in the spot market had come under pressure and accordingly determined that events occurred and circumstances had changed, which indicated that potential impairment of the Company’s long-lived assets could exist. These indicators included continued volatility in the spot market and the related impact of the current container sector on management’s expectation for future revenues. As a result, step one of the impairment assessment of each of the vessel groups was performed as at December 31, 2022 and step two of the impairment analysis was required for one vessel group, as its undiscounted projected net operating cash flows did not exceed its carrying value. As a result, the Company recorded an impairment loss of $<span id="xdx_904_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zLadtpeJcZOc" title="Vessel impairment charges">3,033 </span></span><span style="font-size: 10pt">for <span id="xdx_907_ecustom--NumberOfVesselsImpairmentChargeRecognized_dc_uPure_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_ziJmUBzqGJs4">one</span> vessel asset group with a total aggregate carrying amount of $<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zd3Tn8uyRAVa">9,033 </span></span><span style="font-size: 10pt">which was written down to its fair value of $<span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_z83BjmVHqfda" title="Fair value of property, plant and equipment">6,000 </span></span><span style="font-size: 10pt">(see note 4).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through 2021, the Company evaluated the impact of current economic situation on the recoverability of all its vessel groups and determined that there was no triggering event and no impairment test was performed for the year ended December 31, 2021.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through 2020, whilst charter rates in the spot market and asset values saw improvements, taking into account the seasonal as well as cyclical nature of the container shipping industry, the recovery was not considered to have been sufficiently sustained not to undertake a review for impairment for vessel groups where the carrying value as at December 31, 2020 might not be recoverable. As a result, step one of the impairment assessment of each of the vessel groups was performed as at December 31, 2020. As the undiscounted projected net operating cash flows of each of the vessel groups exceeded the carrying amount, step two of the impairment test was not required and there were no impairment charges as of December 31, 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_907_ecustom--NumberOfVesselsSold_dc_uPure_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zkXEzhIHTM1g" title="Number of vessels sold">Two</span> 1999-built, <span id="xdx_902_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseMember_zSqd7Lc8AVe8" title="Capacity in TEUs"><span id="xdx_909_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--UtrilloMember_zEW2TRi2aXEc" title="Capacity in TEUs">2,200</span></span> TEU feeder ships, GSL Matisse and Utrillo, were sold on <span id="xdx_902_ecustom--VesselSaleDate_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseMember_zgATfwHMVrj6" title="Date of vessel sale">July 3, 2020</span> and <span id="xdx_909_ecustom--VesselSaleDate_c20200101__20200731__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--UtrilloMember_znvu2zM78fNb" title="Date of vessel sale">July 20, 2020</span>, respectively.  As of June 30, 2020, the vessels were immediately available for sale and qualified as assets held for sale. As of March 31, 2020, the Company had an expectation that the vessels would be sold before the end of their previously estimated useful life, and as a result performed an impairment test of the specific asset group. An impairment charge of $<span id="xdx_903_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20200331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zosEsmkciRri" title="Impairment of vessels">7,585</span> was recognized for the three months ended March 31, 2020 and an additional impairment charge of $<span id="xdx_90D_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200401__20200630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_z3TegDo13YSh" title="Impairment of vessels">912</span> had been recognized in the three months ended June 30, 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> The Company uses a number of assumptions in projecting its undiscounted net operating cash flows analysis including, among others, (i) revenue assumptions for charter rates on expiry of existing charters, which are based on forecast charter rates, where relevant, in the four years from the date of the impairment test and a reversion to the historical mean of time charter rates for each vessel thereafter (ii) off-hire days, which are based on actual off-hire statistics for the Company’s fleet (iii) operating costs, based on current levels escalated over time based on long term trends (iv) dry docking frequency, duration and cost  (v) estimated useful life, which is assessed as a total of 30 years from original delivery by the shipyard and (vi) scrap values. 3033000 1 9033000 6000000 2 2200 2200 July 3, 2020 July 20, 2020 7585000 912000 <p id="xdx_843_eus-gaap--DebtPolicyTextBlock_zs6PCbYtWpxa" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(m) <span id="xdx_862_zjBLVwc8SF08">Deferred financing costs</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Costs incurred in connection with obtaining long-term debt and in obtaining amendments to existing facilities are recorded as deferred financing costs and are amortized to interest expense using the effective interest method over the estimated duration of the related debt. Such costs include fees paid to the lenders or on the lenders’ behalf and associated legal and other professional fees. Debt issuance costs, other than any up-front arrangement fee for revolving credit facilities, related to a recognized debt liability are presented as a direct deduction from the carrying amount of that debt.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p id="xdx_845_ecustom--PreferredSharesPolicyTextBlock_zg2WQeZSZXfd" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b>(n) <span id="xdx_86F_z08nqyTe21Zk">Preferred shares</span></b></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Series B Preferred Shares were originally issued in August 2014 and have been included within Equity in the Consolidated Balance Sheets since their initial issue in August 2014 and increased in 2019, 2020 and 2021 with the introduction of ATM program see note 16, and the dividends are presented as a reduction of Retained Earnings or addition to Accumulated Deficit in the Consolidated Statements of Changes in Shareholders’ Equity as their nature is similar to that of an equity instrument rather than a liability. Holders of these redeemable perpetual preferred shares, which may only be redeemed at the discretion of the Company, are entitled to receive a dividend equal to <span id="xdx_901_eus-gaap--PreferredStockDividendRatePercentage_dp_uPure_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z1yyDrybQPWh" title="Preferred shares dividend rate percentage">8.75</span>% on the original issue price, should such dividend be declared, and rank senior to the common shares with respect to dividend rights and rights upon liquidation, dissolution or winding up of the Company.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The <span id="xdx_902_ecustom--PreferredStockIssuedDuringPeriodSharesNewIssues_pip0_c20180101__20181115__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z0mk3IRn7ff4" title="Series C Preferred issues | shares"><span id="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_pip0_c20210101__20210120__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__srt--CounterpartyNameAxis__custom--KelsoMember_zzIjooxss4fi" title="Conversion of stock shares converted | shares">250,000</span></span> Series C Perpetual Convertible Preferred Shares (the “Series C Preferred Shares”) have been included within Equity in the Consolidated Balance Sheets, from their issue on November 15, 2018. The Series C Preferred Shares were convertible in certain circumstances to Class A common shares and they were entitled to a dividend only should such a dividend be declared on the Class A common shares. On January 20, 2021, upon the redemption in full of the <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20211231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zxXflb3uaOt">9.875</span>% First Priority Secured Notes due 2022 (the “2022 Notes”), Series C Preferred shares converted to Class A common shares see note 16.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> 0.0875 250000 250000 0.09875 <p id="xdx_840_eus-gaap--ComprehensiveIncomePolicyPolicyTextBlock_zwyLsU3t0re7" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(o)</b> <b><span id="xdx_86E_zvxvM0BJzva9">Other comprehensive income</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Other comprehensive income, which is reported in the Consolidated Statements of Changes in Shareholders’ Equity, consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. Under ASU 2011-05, an entity reporting comprehensive income in a single continuous financial statement shall present its components in two sections, net income and other comprehensive income. For year ended December 31, 2022 the Company recorded an unrealized gain on the interest rate caps, , amortization of interest rate cap premium and an amount reclassified to earnings of $<span id="xdx_90B_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_pn3n3_c20220101__20221231_zVK95bWB68Pf">31,221</span>, $<span id="xdx_90F_ecustom--AmortizationOfInterestRateCapPremium_pn3n3_c20220101__20221231_z6pfo2u5ylZ1">1,123</span> and ($<span id="xdx_900_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_c20220101__20221231_zOgohVfxX2Mj">1,091</span>), </span><span style="font-size: 10pt">respectively, reported as a component of other comprehensive income and presented in the Consolidated Statements of Comprehensive Income (see note 9). For year ended December 31, 2021, the Company recorded an unrealized gain on the interest rate caps of $<span id="xdx_90B_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_pn3n3_c20210101__20211231_zPKXQspJYo9i">227</span></span><span style="font-size: 10pt">, $nil for amortization of interest rate cap premium and <span id="xdx_90D_ecustom--AmortizationOfInterestRateCapPremium_pn3n3_do_c20210101__20211231_zF2mGErTfCO"><span id="xdx_906_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_do_c20210101__20211231_z5BUiF2Vo3Af">no</span></span> amount reclassified to earnings. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> 31221000 1123000 1091000 227000 0 0 <p id="xdx_846_eus-gaap--RevenueRecognitionPolicyTextBlock_zOtTZi3qjl36" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(p) <span id="xdx_86D_zswZIWBqjo1d">Revenue recognition and related expense</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company charters out its vessels on time charters which involves placing a vessel at a charterer’s disposal for a specified period of time during which the charterer uses the vessel in return for the payment of a specified daily hire rate. Such charters are accounted for as operating leases and therefore revenue is recognized on a straight-line basis as the average revenues over the rental periods of such charter agreements, as service is performed. Cash received in excess of earned revenue is recorded as deferred revenue. If a time charter contains one or more consecutive option periods, then subject to the options being exercisable solely by the Company, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter, including any options which are more likely than not to be exercised. If a time charter is modified, including the agreement of a direct continuation at a different rate, the time charter revenue will be recognized on a straight-line basis over the total remaining life of the time charter from the date of modification. During the years ended December 31, 2022 and 2021, an amount of $<span id="xdx_904_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_pn3n3_c20220101__20221231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zzDJXIvZxFG3" title="Charter revenue">10,899</span> and $<span id="xdx_908_ecustom--OperatingLeasesIncomeStatementLeaseRevenue1_pn3n3_c20210101__20211231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zPE9KG8vmDo4" title="Charter revenue">15,869</span>, respectively, has been recorded in time charter-revenues for such modifications and revenues recognized on a straight-line basis. Any difference between the charter rate invoiced and the time charter revenue recognized is classified as, or released from, deferred revenue. As of December 31, 2022, current and non-current portion from implementing the straight-line basis, amounting to $<span id="xdx_903_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20221231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zWWaMioU5BL3" title="Other current assets">6,487</span> ($<span id="xdx_905_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20211231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zxDqhWtJXy35" title="Other current assets">2,866</span> and $nil <span style="display: none"><span id="xdx_904_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_c20201231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zhWGw6yJPwB7" title="Other current assets">0</span></span>as for December 31, 2021 and 2020, respectively) and $<span id="xdx_909_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20221231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zwZBy1TSaIdk">21,144</span> ($<span id="xdx_908_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20211231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zoIDLdFWlXA7">14,010</span> and $<span id="xdx_904_eus-gaap--OtherAssetsNoncurrent_iI_pn3n3_c20201231__us-gaap--IncomeStatementLocationAxis__custom--ChartersRevenuesMember_zp54z405iEI1" style="display: none">0</span>nil as for December 31, 2021 and 2020, respectively), respectively, are presented in the Consolidated Balance Sheets in the line item “Prepaid expenses and other current assets” and “Other non-current assets”, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(p) Revenue recognition and related expense (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Revenues are recorded net of address commissions, which represent a discount provided directly to the charterer based on a fixed percentage of the agreed upon charter rate. Charter revenue received in advance which relates to the period after a balance sheet date is recorded as deferred revenue within current liabilities until the respective charter services are rendered. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Under time charter arrangements the Company, as owner, is responsible for all the operating expenses of the vessels, such as crew costs, insurance, repairs and maintenance, and such costs are expensed as incurred and are included in vessel operating expenses.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Commission paid to brokers to facilitate the agreement of a new charter are included in time charter and voyage expenses as are certain expenses related to a voyage, such as the costs of bunker fuel consumed when a vessel is off-hire or idle. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>Leases:</b> In cases of lease agreements where the Company acts as the lessee, the Company recognizes an operating lease asset and a corresponding lease liability on the Consolidated Balance Sheets. Following initial recognition and with regards to subsequent measurement the Company remeasures lease liability and right of use asset at each reporting date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Leases where the Company acts as the lessor are classified as either operating or sales-type / direct financing leases.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In cases of lease agreements where the Company acts as the lessor under an operating lease, the Company keeps the underlying asset on the Consolidated Balance Sheets and continues to depreciate the assets over its useful life. In cases of lease agreements where the Company acts as the lessor under a sales-type / direct financing lease, the Company derecognizes the underlying asset and records a net investment in the lease. The Company acts as a lessor under operating leases in connection with all of its charter out - bareboat-out arrangements.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In cases of sale and leaseback transactions, if the transfer of the asset to the lessor does not qualify as a sale, then the transaction constitutes a failed sale and leaseback and is accounted for as a financial liability. For a sale to have occurred, the control of the asset would need to be transferred to the lessor, and the lessor would need to obtain substantially all the benefits from the use of the asset. During 2021, the Company has entered into <span id="xdx_90E_ecustom--SaleAndLeasebackTransactionsFailedNumber_dc_uPure_c20210101__20211231_zOCHO7faq5rg">six</span> agreements which qualify as failed sale and leaseback transactions as the Company is required to repurchase the vessels at the end of the lease term and the Company has accounted for the six agreements as financing transactions.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company elected the practical expedient which allows the Company to treat the lease and non-lease components as a single lease component for the leases where the timing and pattern of transfer for the non-lease component and the associated lease component to the lessees are the same and the lease component, if accounted for separately, would be classified as an operating lease. The combined component is therefore accounted for as an operating lease under ASC 842, as the lease components are the predominant characteristics.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b> </b></span></span></p> 10899000 15869000 6487000 2866000 0 21144000 14010000 0 6 <p id="xdx_84D_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zUBNGwqlhoV7" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(q) <span id="xdx_860_zDtT8s0VDG84">Foreign currency transactions</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company’s functional currency is the U.S. dollar as substantially all revenues and a majority of expenditures are denominated in U.S. dollars. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the balance sheet dates. Expenses paid in foreign currencies are recorded at the rate of exchange at the transaction date. Exchange gains and losses are included in the determination of net Income/(Loss).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b> </b></span></span></p> <p id="xdx_844_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zwrPEoAdq5sc" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(r) <span id="xdx_866_zzWpuIK5KT0l">Share based compensation</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company has awarded incentive stock units to its management and Directors as part of their compensation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Using the graded vesting method of expensing the incentive stock unit grants, the weighted average fair value of the stock units is recognized as compensation costs in the Consolidated Statements of Income over the vesting period. The fair value of the incentive stock units for this purpose is calculated by multiplying the number of stock units by the fair value of the shares at the grant date. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(s) <span id="xdx_86C_z7f7iS653oc9">Income taxes</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company and its Marshall Island subsidiaries are exempt from taxation in the Marshall Islands. Otherwise, the Company’s vessels are liable for tax based on the tonnage of the vessel, under the regulations applicable to the country of incorporation of the vessel owning company, which is included within vessels’ operating expenses.</span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-size: 10pt">The Cyprus and Hong Kong subsidiaries are also liable for income tax on any interest income earned from non-shipping activity.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company has <span id="xdx_90F_ecustom--NumberOfSubsidiaries_dc_uPure_c20220101__20221231__srt--StatementGeographicalAxis__country--GB_zFhvI9Y0Ltji"><span id="xdx_90D_ecustom--NumberOfSubsidiaries_dc_uPure_c20210101__20211231__srt--StatementGeographicalAxis__country--GB_z4gjzk47MZfd"><span id="xdx_903_ecustom--NumberOfSubsidiaries_dc_uPure_c20200101__20201231__srt--StatementGeographicalAxis__country--GB_zkLDXQpc6l3d">one</span></span> </span></span><span style="font-size: 10pt">subsidiary in the United Kingdom, where the principal rate of corporate income tax for 2022 is <span id="xdx_905_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20220101__20221231__srt--StatementGeographicalAxis__country--GB_zfXu0e86Kkah">19</span></span><span style="font-size: 10pt">% (2021: <span id="xdx_90C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20210101__20211231__srt--StatementGeographicalAxis__country--GB_zGOQoIoCsiI8">19</span></span><span style="font-size: 10pt">% and 2020:<span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20200101__20201231__srt--StatementGeographicalAxis__country--GB_zwOxMnINvt45">19</span></span><span style="font-size: 10pt">%). There has been no change to the applicable tax rate in the year. In the Spring Budget 2021, the UK government announced an increase in the main corporation tax rate from 19% to <span id="xdx_905_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20230101__20230401__srt--StatementGeographicalAxis__country--GB_zsGL3zDa9Ji5">25</span></span><span style="font-size: 10pt">% with effect from 1 April 2023.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company recognizes uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based solely on the technical merits of the position.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> 1 1 1 0.19 0.19 0.19 0.25 <p id="xdx_843_ecustom--DividendsPolicyTextBlock_zeBHOxoRqub5" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(t) <span id="xdx_864_zVevz7QTiy42">Dividends</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Dividends are recorded in the period in which they are declared by the Company’s Board of Directors. Dividends to be paid are presented in the Consolidated Balance Sheets in the line item “Accrued Liabilities”.</span></p> <p id="xdx_840_eus-gaap--EarningsPerSharePolicyTextBlock_z75EqFF8FmDj" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(u) <span id="xdx_861_zhJdUuOw9nR">Earnings per share</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">Basic earnings per common share are based on income available to common shareholders divided by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock units. Diluted income per common share are calculated by applying the treasury stock method. All unvested restricted stock units that have a dilutive effect are included in the calculation. The basic and diluted earnings per share for the period are presented for each category of participating common shares under the two-class method.</span></p> <p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zv2pe5HkxOYc" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(v) <span id="xdx_863_zHDzwlyiSBh3">Risks Associated with Concentration</span> </b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company is exposed to certain concentration risks that may adversely affect the Company’s financial position in the near term:</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td colspan="2"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: left"><span style="font-size: 10pt">(i)</span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt">The Company derives its revenue from liner companies which are exposed to the cyclicality of the container shipping industry.</span></td></tr> <tr> <td colspan="2"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: left"><span style="font-size: 10pt">(ii)</span></td> <td style="vertical-align: top; padding-top: 9.9pt; text-align: justify"><p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">There is a minimum concentration of credit risk with respect to cash and cash equivalents at December 31, 2022, to the extent that substantially all of the amounts are deposited with <span id="xdx_906_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20221231_zzYYSmwYPu93" title="Number of banks holding deposits">nine</span> banks (2021: <span id="xdx_90F_ecustom--NumberOfBanksHoldingDeposits_iI_pp0p0_dc_uPure_c20211231_zi5dR2JptY03" title="Number of banks holding deposits">ten</span> banks). The Company believes this risk is remote as the banks are high credit quality financial institutions.</span></p> <p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt"> </span></p></td></tr> </table> 9 10 <p id="xdx_84B_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zZNlPUDjH6v" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(w) <span id="xdx_868_zVrctt2EcBxh">Segment Reporting</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">The Company reports financial information and evaluates its operations by charter revenues and not by the length of ship employment for its customers. The Company does not use discrete financial information to evaluate operating results for each type of charter. Management does not identify expenses, profitability or other financial information by charter type. As a result, management reviews operating results solely by revenue per day and operating results of the fleet and thus the Company has determined that it operates under <span id="xdx_90A_eus-gaap--NumberOfReportableSegments_dc_uPure_c20220101__20221231_zQO0iTbhL2xc">one </span></span><span style="font-size: 10pt">reportable segment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> 1 <p id="xdx_84F_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zIWv7RBMuwh2" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(x) <span id="xdx_864_z6GfmGcTjGXa">Fair Value Measurement and Financial Instruments</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Financial instruments carried on the Consolidated Balance Sheets include cash and cash equivalents, restricted cash, time deposits, trade receivables and payables, other receivables and other liabilities and long-term debt. The particular recognition methods applicable to each class of financial instrument are disclosed in the applicable significant policy description of each item or included below as applicable.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><i>Fair value measurement: </i></b>Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The hierarchy is broken down into three levels based on the observability of inputs as follows:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>Level 1 </b>– Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Level 2 </b>– Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Level 3 </b>– Valuations based on inputs that are unobservable and significant to the overall fair value measurement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through the latter part of 2022, the Company noted that charter rates in the spot market had come under pressure and accordingly determined that events occurred and circumstances had changed, which indicated that potential impairment of the Company’s long-lived assets could exist. These indicators included continued volatility in the spot market and the related impact of the current container sector on management’s expectation for future revenues. As a result, step one of the impairment assessment of each of the vessel groups was performed as at December 31, 2022 and step two of the impairment analysis was required for one vessel group, as its undiscounted projected net operating cash flows did not exceed its carrying value. As a result, the Company recorded an impairment loss of $<span id="xdx_903_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zlAFR4jcOmZk" title="Vessel impairment charges">3,033 </span></span><span style="font-size: 10pt">for one vessel asset group with a total aggregate carrying amount of $<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zdv8dkfO8zdd">9,033 </span></span><span style="font-size: 10pt">which was written down to its fair value of $<span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zP7hNhEl8mTg" title="Fair value of property, plant and equipment">6,000</span></span><span style="font-size: 10pt">.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">During 2020, two of the Company’s vessel groups with a total aggregate carrying amount of $<span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20201231__us-gaap--ImpairedLongLivedAssetsHeldAndUsedByTypeAxis__custom--TwoVesselGroupsMember_zNufW9MkBX3g" title="Total aggregate carrying amount">15,585</span> were written down to their fair value resulting in a non-cash impairment charge of $<span id="xdx_904_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20201231__us-gaap--ImpairedLongLivedAssetsHeldAndUsedByTypeAxis__custom--TwoVesselGroupsMember_zn8BaTz6IMH8" title="Vessel impairment charges">8,497</span> which was allocated to the respective vessels’ carrying values. Total impairment charge of $<span id="xdx_907_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20201231_z3xXEZnvEgAc" title="Vessel impairment charges">8,497</span> was included in the Consolidated Statements of Income for the year ended December 31, 2020. The estimated fair value, measured on a non-recurring basis, of the Company’s relevant three vessel groups that are held and used is calculated with the assistance of valuation obtained by third party independent ship brokers. Therefore, the Company has categorized the fair value of these vessels as Level II in the fair value hierarchy.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In December 2021</span><span style="font-size: 10pt">, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_904_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zGmfi8gzIyGg">484.1 </span></span><span style="font-size: 10pt">million, which amortizes over time as the Company’s outstanding debt balances decline. In February 2022</span><span style="font-size: 10pt">, the Company further hedged its exposure by putting in place <span id="xdx_908_ecustom--IntrerestRateCapsNumber_dcp_uPure_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zF9atcxmxmxf">two </span></span><span style="font-size: 10pt">USD one-month LIBOR interest rate caps of <span id="xdx_901_eus-gaap--DerivativeCapInterestRate_iI_dp_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zIDUqouspi">0.75</span></span><span style="font-size: 10pt">% through <span id="xdx_901_ecustom--DerivativeMaturityDates1_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z7CUpydkDQL1">fourth quarter 2026</span></span><span style="font-size: 10pt">, on $<span id="xdx_905_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z1mCaL6GZ8V7">507.9 </span></span><span style="font-size: 10pt">million of its floating rate debt. The second interest rate cap was not designated as a cash flow hedge and therefore the positive fair value adjustment of $<span id="xdx_90E_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zk9bGXwD07e3">9,685 </span></span><span style="font-size: 10pt">as at December 31, 2022 was recorded through Consolidated Statements of Income ($nil <span id="xdx_908_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20200101__20201231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zg6cow4vQZi2" style="display: none">0</span></span><span style="font-size: 10pt">for December 31, 2021 and 2020). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. The Company is designating certain future interest payments on its outstanding variable-rate debt as the hedged item in this relationship. Under ASC 815-20-25-106e, “for cash flow hedges of the interest payments on only a portion of the principal amount of the interest-bearing asset or liability, the notional amount of the interest rate cap designated as the hedging instrument matches the principal amount of the portion of the asset or liability on which the hedged interest payments are based”. In this case, <span id="xdx_902_eus-gaap--DerivativeDescriptionOfHedgedItem_c20220101__20221231_zFDkjYeDcxEd">the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span>. </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assesses the effectiveness of the hedges on an ongoing basis. The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/><p style="font: 12pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b>(x) Fair Value Measurement and Financial Instruments (continued)</b></span></b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b/></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2022, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $<span id="xdx_900_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_c20220101__20221231_z0D4o6wvItnj" title="Unrealized gain on the interest rate caps">1,091 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">was reclassified from other comprehensive income to the Consolidated Statements of Income.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="font-size: 10pt"/></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The objective of the hedges is to reduce the variability of cash flows associated with the interest rates relating to the Company’s variable rate borrowings. When derivatives are used, the Company is exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, <i>Derivatives and Hedging</i>, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs – Level 2 inputs). As of December 31, 2022 and 2021, the Company recorded a derivative asset of $<span id="xdx_90A_eus-gaap--DerivativeAssets_iI_pn3n3_c20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z1yefmHyK5z1">63,503</span> and $<span id="xdx_901_eus-gaap--DerivativeAssets_iI_pn3n3_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zbOQ3163OuGg">7,227</span>, respectively (see note 9).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><i>Financial Risk Management:</i></b> The Company activities expose it to a variety of financial risks including fluctuations in, time charter rates, credit and interest rates risk. Risk management is carried out under policies approved by executive management. Guidelines are established for overall risk management, as well as specific areas of operations.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 12pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-size: 10pt"><b><i>Credit risk:</i></b> The Company closely monitors its credit exposure to customers and counter-parties for credit risk. The Company has entered into commercial management agreement with Conchart Commercial Inc. (“Conchart”), pursuant to which Conchart has agreed to provide commercial management services to the Company, including the negotiation, on behalf of the Company, of vessel employment contracts (see note 14). Conchart has policies in place to ensure that it trades with customers and counterparties with an appropriate credit history.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk are accounts receivable and cash and cash equivalents and time deposits. The Company does not believe its exposure to credit risk is likely to have a material adverse effect on its financial position, results of operations or cash flows.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><i>Liquidity Risk:</i></b> Prudent liquidity risk management implies maintaining sufficient cash and marketable securities, the availability of funding through an adequate amount of committed credit facilities and the ability to close out market positions. The Company monitors cash balances appropriately to meet working capital needs.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt"><b><i>Foreign Exchange Risk:</i></b> Foreign currency transactions are translated into the measurement currency rates prevailing at the dates of transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies are recognized in the Consolidated Statements of Income.</span></p> 3033000 9033000 6000000 15585000 8497000 8497000 484100000 2 0.0075 fourth quarter 2026 507900000 9685000 0 the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged 1091000 63503000 7227000 <p id="xdx_844_eus-gaap--DerivativesPolicyTextBlock_zeswqgy4BFTe" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(y) <span id="xdx_86E_zFFSqrYSAIb7">Derivative instruments</span> </b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company is exposed to interest rate risk relating to its variable rate borrowings. In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_909_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zQ1VhS2Ozcii">484.1</span> million (“December 2021 hedging”), which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">At the inception of the transaction, the Company documents the relationship between hedging instruments and hedged items, as well as its risk management objective and the strategy for undertaking various hedging transactions. The Company also documents its assessment, both at the hedge inception and on an ongoing basis, of whether the derivative financial instruments that are used in hedging transactions are highly effective in offsetting changes in fair values or cash flows of hedged items.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">This transaction is designated as a cash flow hedge, and under ASU 2017-12, cash flow hedge accounting allows all changes in fair value to be recorded through Other Comprehensive Income once hedge effectiveness has been established. Under ASC 815-30-35-38, amounts in accumulated other comprehensive income shall be reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings (i.e., each quarter) and shall be presented in the same income statement line item as the earnings effect of the hedged item in accordance with paragraph 815-20-45-1A.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>2. Significant Accounting Policies (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>(y) Derivative instruments (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The premium paid related to this derivative was classified in the Consolidated Statements of Cash Flows as operating activities in the line item “Derivative asset”. The premium shall be amortized into earnings “on a systematic and rational basis over the period in which the hedged transaction affects earnings” (ASC 815-30-35-41A); that is, the Company will expense the premium over the life of the interest rate cap in accordance with the “caplet method,” as described in Derivatives Implementation Group (DIG) Issue G20. DIG Issue G20 dictates that the cost of the interest rate cap is recognized on earnings over time, based on the value of each periodic caplet. The cost per period will change as the caplet for that period changes in value. Given that the interest rate cap is forward-starting, expensing of the premium will not begin until the effective start date of the interest rate cap, in order to match potential cap revenue with the cap expenses in the period in which they are incurred.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In February 2022, the Company further purchased two interest rate caps with an aggregate notional amount of $<span id="xdx_90D_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zHMNVRIF4qpl">507.9</span> million. The first interest rate cap of $253.9 million which has been designated as a cash flow hedge, has the same accounting treatment as described above for the December 2021 hedging. The second interest rate cap was not designated as a cash flow hedge and therefore the positive fair value adjustment of $<span id="xdx_909_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zkXJHAsHiZB9">9,685</span> as at December 31, 2022 was recorded through Consolidated Statements of Income ($nil for December 31, 2021 and 2020). ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, <span id="xdx_902_eus-gaap--DerivativeDescriptionOfHedgedItem_c20220101__20221231_zeeCDBKEJQWd">the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span> (see note 9). <span id="xdx_903_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zY49oV4gL2S3"><span id="xdx_90B_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20200101__20201231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zmHaNi9LXMhg" style="display: none">0</span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span><span style="display: none"> </span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 6pt 0pt 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedge no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of December 31, 2022, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $<span id="xdx_90D_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_c20220101__20221231_zbTbP1P95r8b" title="Unrealized gain on the interest rate caps">1,091</span> was reclassified from other comprehensive income to the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> 484100000 507900000 9685000 the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged 0 0 1091000 <p id="xdx_842_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zFmvx0Uqvm9" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>(z) <span id="xdx_86B_zim0F8Uhocl7">Recently issued accounting standards</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company does not believe that any recently issued, but not yet effective, accounting pronouncements would have a material impact on its consolidated financial statements.</span></p> <p id="xdx_809_eus-gaap--CashAndCashEquivalentsDisclosureTextBlock_zeFQ7cqWeKwb" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>3. <span id="xdx_82D_zQzZ3iWv2X4h">Restricted Cash</span><span style="font-size: 10pt"> </span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b><span style="font-size: 10pt"> </span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt">Restricted cash as of December 31, 2022 and 2021 consisted of the following:</span></p> <p id="xdx_891_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_ze8yKVdmGDSb" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b/></span><span id="xdx_8B0_zx1hlJ116AH3" style="display: none">Restricted cash (Table)</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b/></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_49F_20221231_z9BEqeBNT3Ic" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="2" id="xdx_49B_20211231_z3DsuWyB6O92" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40C_eus-gaap--EscrowDeposit_iI_maRCACEzyYB_zm2yZeEyIndh" style="background-color: #CCECFF"> <td style="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Retention accounts</span></td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">23,903</span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">11,276</span></td></tr> <tr id="xdx_40A_eus-gaap--RestrictedCashCurrent_iI_d0_maRCACEzyYB_zyuEsx5YG4tj"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4,460</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">13,618</span></td></tr> <tr id="xdx_404_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iTI_mtRCACEzyYB_macash_zi14ocysCmfb" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Total Current Restricted Cash</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>28,363</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$ </b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>24,894</b></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"/> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_403_eus-gaap--CompensatingBalanceAmount_iI_maRCACEzUz7_zYcKwba8Xtvi" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Cash collateral<sup id="xdx_F47_ziE3YyZsDaTi">(*)</sup></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">118,471</span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">100,000</span></td></tr> <tr id="xdx_406_eus-gaap--CashCollateralForBorrowedSecurities_iI_maRCACEzUz7_zpOXnSb8eri2"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Guarantee deposits</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">20</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">20</span></td></tr> <tr id="xdx_406_eus-gaap--RestrictedCashNoncurrent_iI_maRCACEzUz7_zuc92hI0eaRd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,446</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,948</span></td></tr> <tr id="xdx_402_ecustom--CashInCustody_iI_maRCACEzUz7_zAFga5Kujzg5"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Cash in custody</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">500</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">500</span></td></tr> <tr id="xdx_400_eus-gaap--RestrictedCashAndCashEquivalentsNoncurrent_iTI_mtRCACEzUz7_macash_zklUZHWqcU4l" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Total Non - Current Restricted Cash</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>121,437</b></span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>103,468</b></span></td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashAndCashEquivalents_iTI_mtcash_z9NoU4gD30cg"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Total Current and Non - Current Restricted Cash</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>149,800</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$ </b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>128,362</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0B_ztjhSC5V6785" style="font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F1E_zu2stmE72Jdb" style="font-size: 10pt">Advances from charterers.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"/> <p id="xdx_8A3_zWhWxMPjVDm2" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p id="xdx_891_eus-gaap--ScheduleOfRestrictedCashAndCashEquivalentsTextBlock_ze8yKVdmGDSb" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b/></span><span id="xdx_8B0_zx1hlJ116AH3" style="display: none">Restricted cash (Table)</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b/></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_49F_20221231_z9BEqeBNT3Ic" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="2" id="xdx_49B_20211231_z3DsuWyB6O92" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40C_eus-gaap--EscrowDeposit_iI_maRCACEzyYB_zm2yZeEyIndh" style="background-color: #CCECFF"> <td style="width: 77%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Retention accounts</span></td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">23,903</span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">11,276</span></td></tr> <tr id="xdx_40A_eus-gaap--RestrictedCashCurrent_iI_d0_maRCACEzyYB_zyuEsx5YG4tj"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4,460</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">13,618</span></td></tr> <tr id="xdx_404_eus-gaap--RestrictedCashAndCashEquivalentsAtCarryingValue_iTI_mtRCACEzyYB_macash_zi14ocysCmfb" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Total Current Restricted Cash</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>28,363</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$ </b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>24,894</b></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"/> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_403_eus-gaap--CompensatingBalanceAmount_iI_maRCACEzUz7_zYcKwba8Xtvi" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Cash collateral<sup id="xdx_F47_ziE3YyZsDaTi">(*)</sup></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">118,471</span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">100,000</span></td></tr> <tr id="xdx_406_eus-gaap--CashCollateralForBorrowedSecurities_iI_maRCACEzUz7_zpOXnSb8eri2"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Guarantee deposits</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">20</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">20</span></td></tr> <tr id="xdx_406_eus-gaap--RestrictedCashNoncurrent_iI_maRCACEzUz7_zuc92hI0eaRd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Restricted bank deposits/Drydock reserves</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,446</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,948</span></td></tr> <tr id="xdx_402_ecustom--CashInCustody_iI_maRCACEzUz7_zAFga5Kujzg5"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Cash in custody</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">500</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">500</span></td></tr> <tr id="xdx_400_eus-gaap--RestrictedCashAndCashEquivalentsNoncurrent_iTI_mtRCACEzUz7_macash_zklUZHWqcU4l" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Total Non - Current Restricted Cash</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>121,437</b></span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>103,468</b></span></td></tr> <tr id="xdx_40B_eus-gaap--RestrictedCashAndCashEquivalents_iTI_mtcash_z9NoU4gD30cg"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Total Current and Non - Current Restricted Cash</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>149,800</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$ </b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>128,362</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0B_ztjhSC5V6785" style="font-size: 10pt">(*)</span></td> <td style="width: 99%"><span id="xdx_F1E_zu2stmE72Jdb" style="font-size: 10pt">Advances from charterers.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"/> 23903000 11276000 4460000 13618000 28363000 24894000 118471000 100000000 20000 20000 2446000 2948000 500000 500000 121437000 103468000 149800000 128362000 <p id="xdx_803_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zlshrVNmhl0c" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b>4. <span id="xdx_822_zbHqwyt11Na2">Vessels in Operation</span></b></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Vessels in Operation as of December 31, 2022, 2021 and 2020 consisted of the following:</span></p> <p id="xdx_89F_eus-gaap--PropertyPlantAndEquipmentTextBlock_zsFrlEZB3io4" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8BE_z9yFEQuDhqwc" style="display: none">Vessels in Operation - Schedule of Vessels in Operation (Table)</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"/> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"/></tr> <tr> <td style="text-align: center; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel Gross Cost,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>as adjusted for impairment charges</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Accumulated Depreciation</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Book Value</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="width: 65%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of January 1, 2020</b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zyiKUodTTWO1" title="Balance beginning of period">1,306,936</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zVnSwPHNJSa6" title="Balance beginning of period">(151,350)</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_z4kh3gYFOCH" title="Balance beginning of period">1,155,586</span></b></span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zuPyseXEJM6b" title="Additions">41,710</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_za43KwI4F2q4" title="Additions">41,710</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zHmXa44iv2mj" title="Disposals">(7,058)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zZuFRcwWH3u6" style="font-size: 10pt">(7,058)</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_900_eus-gaap--Depreciation_iN_pn3n3_di0_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zEgFpYsEhiz3" title="Depreciation">(41,158)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--Depreciation_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zpOuKG1npeHh" title="Depreciation">(41,158)</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Impairment Loss</span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_904_ecustom--AssetImpairmentChargesGross_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zRZgoHomBRC" title="Impairment Loss">(43,803)</span></span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_ecustom--AccumulatedDepreciationDepletionAndAmortizationImpairmentLossOfPropertyPlantAndEquipment_pn3n3_d0_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_z0rdwzz9NMl5" title="Impairment loss">35,306</span></span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--TangibleAssetImpairmentCharges_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zVqNtWiXNza7" title="Impairment Loss">(8,497)</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2020</b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_z8lvegSGOX21" title="Balance beginning of period">1,297,785</span></b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_902_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zj4Tkjh9rxV8" title="Balance beginning of period">(157,202)</span></b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zbQ1uHprV6gc" title="Balance beginning of period">1,140,583</span></b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zIV0T1TKbTQe" title="Additions">603,514</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zYb5I7jO2Yq8" title="Additions">603,514</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zvSbkgaZUUL5" title="Disposals">(23,167)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_iP2us-gaap--Depreciation_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zHzop3MZBlj9" title="Disposals">14,445</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zrGACZDrC6Ac" title="Disposals">(8,722)</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_eus-gaap--Depreciation_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zfWiPuxg0i8b" title="Depreciation">(52,559)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--Depreciation_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zC5CHdOKWYRj" title="Depreciation">(52,559)</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2021</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_ztAnVZOcT2y" title="Balance beginning of period">1,878,132</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zOcnAonLJDb2" title="Balance beginning of period">(195,316)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zpk82G9cucm5" title="Balance beginning of period">1,682,816</span></b></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"/></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zBDTrlDEAkwe" title="Additions">11,756</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zgRfH6gVAPyj" title="Additions">11,756</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--Depreciation_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zydRbAekm6lf" title="Depreciation">(68,232)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--Depreciation_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zztksO7EFovj" title="Depreciation">(68,232)</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Impairment loss</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_ecustom--AssetImpairmentChargesGross_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_z8z2wsenlyk7" title="Impairment Loss">(3,730)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_ecustom--AccumulatedDepreciationDepletionAndAmortizationImpairmentLossOfPropertyPlantAndEquipment_pn3n3_d0_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zlgjXLYQLXmd" title="Impairment loss">697</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--TangibleAssetImpairmentCharges_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zZC4QiimbwO" title="Impairment Loss">(3,033)</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2022</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentGross_iE_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zNsNuTghQvF8" title="Balance ending of period">1,886,158</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_901_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNE_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zl9nAJzA9xO7" title="Balance ending of period">(262,851)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentNet_iE_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zhCTsEXkXyKb" title="Balance ending of period">1,623,307</span></b></span></td></tr> </table> <p id="xdx_8A2_zA6IoqxDWSe9" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">As of December 31, 2022, the Company had made additions for vessel expenditures and ballast water treatments.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>2021 Vessels acquisitions</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">In September and October 2021, the Company took delivery of the Four Vessels as per below:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p id="xdx_894_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock_zdZmeslR4uf8" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8BC_zIche6ycl9Ia" style="display: none">Vessels in Operation - Vessels Acquisitions (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span style="display: none"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Name</b></span></td> <td id="xdx_485_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zT2u3EhwFd1" style="border-bottom: Black 0.5pt solid; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_484_ecustom--YearBuilt_zIB0TwP9Gvm1" style="border-bottom: Black 0.5pt solid; text-align: center; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_488_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_zC8hF7PMt1P5" style="border-bottom: Black 0.5pt solid; text-align: center; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_48A_ecustom--DeliveryDate_zXtU5nO8Jzm5" style="border-bottom: Black 0.5pt solid; vertical-align: top; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_41C_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLTripoliMember_zwlF7ncJDxq6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tripoli</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">37,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">September 1, 2021</span></td></tr> <tr id="xdx_41F_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLTinosMember_zDx4mgRfYEgf"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tinos</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">37,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">September 9, 2021 </span></td></tr> <tr id="xdx_41C_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLSyrosMember_zDpEqP1EOHia" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Syros</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">37,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">September 13, 2021 </span></td></tr> <tr id="xdx_41D_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKithiraMember_zfeY3Z18GsS7"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Kithira</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">36,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">October 13, 2021</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">The charters of the Four Vessels resulted in an intangible liability of $<span id="xdx_900_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iI_pn3n3_c20211013__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_zGo21iAQPBe8">17,100</span> that was recognized and will be amortized over the remaining useful life of the charters.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>4. Vessels in Operation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>2021 Vessels acquisitions (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">In July 2021, the Company took delivery of the Twelve Vessels as per below:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 1pt solid; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Name</b></span></td> <td id="xdx_483_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zfTwaFA8UUne" style="border-bottom: Black 1pt solid; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_487_ecustom--YearBuilt_z4eIuDJdYGsk" style="border-bottom: Black 1pt solid; text-align: center; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48F_eus-gaap--PropertyPlantAndEquipmentAdditions_zUVXXYqFySYk" style="border-bottom: Black 1pt solid; text-align: center; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_480_ecustom--DeliveryDate_z4wZyJsrL9aj" style="border-bottom: Black 1pt solid; vertical-align: top; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Delivery Date</b></span></td></tr> <tr id="xdx_416_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLSusanMember_zEdeDWeoFSu8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Susan</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,363</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">20,740</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_416_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLRossiMember_zL6HTlWw3KY7"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Rossi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">21,580</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_416_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAliceMember_znH0nKuTgwN5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Alice</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">23,150</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_411_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMelinaMember_z4RDjiRNvNL4"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">23,990</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_414_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleftheriaMember_zXLLbxT48kbc" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Eleftheria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">26,870</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_41D_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMercerMember_zpDytZD53SIg"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Mercer</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">20,750</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_41E_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLLaloMember_zHV61804tHEf" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Lalo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">13,320</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_41A_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MatsonMolokaiMember_zc1tdvXhvoA3"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Matson Molokai</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">16,430</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 15, 2021</span></td></tr> <tr id="xdx_410_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLElizabethMember_zCmYuvDJXTxd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Elizabeth</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,741</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">13,910</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 28, 2021</span></td></tr> <tr id="xdx_414_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLChloeMember_zx7y9a0dOjUk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">tbr GSL Chloe</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">22,320</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_414_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMarenMember_z4eyTCmPMzla" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maren</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">23,270</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_415_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAmstelMember_zFPedclEGweg"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Amstel</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1,118</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,560</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The charters in place at the time of the purchase of the Twelve Vessels resulted in an intangible liability of $<span id="xdx_90D_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iI_pn3n3_c20210729__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsMember_zqjc0YK2gnyg">76,193</span> that was recognized and will be amortized over the remaining useful life of the charters.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In April, May and July 2021, the Company took delivery of the Seven Vessels as per below:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 1pt solid; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Name</b></span></td> <td id="xdx_483_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zYBvfSmGJN28" style="border-bottom: Black 1pt solid; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_487_ecustom--YearBuilt_zUQ0SRaz7G4g" style="border-bottom: Black 1pt solid; text-align: center; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48F_eus-gaap--PropertyPlantAndEquipmentAdditions_zfDRq4TuTBDa" style="border-bottom: Black 1pt solid; text-align: center; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_480_ecustom--DeliveryDate_zW1PusvsTHL7" style="border-bottom: Black 1pt solid; vertical-align: top; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Delivery Date</b></span></td></tr> <tr id="xdx_41F_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMYNYMember_zmnFppUB2Zpj" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL MYNY</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">17,600</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 28, 2021</span></td></tr> <tr id="xdx_418_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMelitaMember_zghKhWvtQpA7"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melita</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">15,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">May 25, 2021</span></td></tr> <tr id="xdx_418_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLViolettaMember_zGXvaeUAFMIl" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Violetta<sup id="xdx_F4D_zKMukBakLPB3">*</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">17,300</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 28, 2021</span></td></tr> <tr id="xdx_412_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMariaMember_zJBjEPxRR0u"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maria<sup id="xdx_F4A_zMX0dw0lIJeg">*</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">16,600</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 28, 2021</span></td></tr> <tr id="xdx_413_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLArcadiaMember_zH3nU7K7S003" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Arcadia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">18,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 26, 2021</span></td></tr> <tr id="xdx_419_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLDorotheaMember_zGVcn1Wpimx2"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Dorothea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">15,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 26, 2021</span></td></tr> <tr id="xdx_417_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLTegeaMember_zlnvZ84AwuI6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tegea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">15,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">May 17, 2021</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td id="xdx_F05_zCV9cbSlP3B4" style="width: 1%">*</td> <td id="xdx_F13_zTz3SRmRPMRk" style="width: 99%">The charters of these vessels resulted in an intangible liability of $<span id="xdx_90D_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iI_pn3n3_c20210728__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_zLh59I9jhDfk">3,051</span> that was recognized and amortized over the remaining useful life of the charters. As of December 31, 2022, the intangible liability relating to the Seven Vessels had been fully amortized.</td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_8AD_z2pHJQBT7GVd" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>2021 Sale of Vessel</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On June 30, 2021, the Company sold La Tour for net proceeds of $<span id="xdx_90A_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20210101__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LaTourContainershipMember_zB98Kf1dMLp7">16,514</span>, and <span id="xdx_90B_eus-gaap--LineOfCreditFacilityCollateral_c20210101__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LaTourContainershipMember_zorxdomFvIAh" title="Collateral description">the vessel was released as collateral under the Company’s $236,200 senior secured loan facility with Hayfin Capital Management, LLP (the “New Hayfin Credit Facility”)</span>. The net gain from the sale of vessel was $<span id="xdx_906_eus-gaap--GainLossOnSalesOfAssetsAndAssetImpairmentCharges_pn3n3_c20210101__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LaTourContainershipMember_zDwX6OwwPJ8d" title="Net gain from vessel sale">7,770</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>2020 Vessels acquisitions</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90A_ecustom--VesselDeliveryDate_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLNicolettaMember_zwwrgjRSDQMk" title="Vessel delivery date">February 21, 2020</span>, the Company took delivery of a <span id="xdx_90E_ecustom--YearBuilt_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLNicolettaMember_zzdCwPVKJ4O3" title="Year build">2002</span>-built, <span id="xdx_901_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLNicolettaMember_zT1waqWnN3j9" title="Capacity in TEUs">6,840</span> TEU containership, GSL Nicoletta for a purchase price of $<span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLNicolettaMember_zfBaOz8AALh" title="Aggregate sale price">12,660</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>4. Vessels in Operation (continued) </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>2020 Vessels acquisitions (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_906_ecustom--VesselDeliveryDate_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLChristenMember_zRo3UN4uTPC" title="Vessel delivery date">January 29, 2020</span>, the Company took delivery of a <span id="xdx_900_ecustom--YearBuilt_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLChristenMember_zR5nTzZ5mPKk" title="Year build">2002</span>-built, <span id="xdx_901_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLChristenMember_zmnlMVY6iMEb" title="Capacity in TEUs">6,840</span> TEU containership, GSL Christen for a purchase price of $<span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLChristenMember_zuzNg9n1yfEj" title="Aggregate sale price">13,000</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>2020 Sale of Vessels</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On July 20, 2020, the Company sold Utrillo for net proceeds of $<span id="xdx_90B_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20200101__20200720__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--UtrilloMember_zflAjWNB0qAd">3,411</span>, and <span id="xdx_902_eus-gaap--LineOfCreditFacilityCollateral_c20200101__20200720__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--UtrilloMember_z1NRDtvKg5Fk">the vessel was released as collateral under the Company’s 2022 Notes and Citi Credit Facility</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On July 3, 2020, the Company sold GSL Matisse for net proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromSaleOfPropertyPlantAndEquipment_pn3n3_c20200101__20200703__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseMember_zVrDth2j0Hrg">3,441</span>, and <span id="xdx_90E_eus-gaap--LineOfCreditFacilityCollateral_c20200101__20200703__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseMember_zf39ScGkWQo4">the vessel was released as collateral under the Company’s 2022 Notes and Citi Credit Facility</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The net loss from the sale of both vessels in 2020 was $<span id="xdx_90B_eus-gaap--GainLossOnSaleOfPropertyPlantEquipment_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zJeUTae5KtXl" title="Net loss from the sale of vessels">244</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>Impairment</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through the latter part of 2022, the Company noted that charter rates in the spot market had come under pressure and accordingly determined that events occurred and circumstances had changed, which indicated that potential impairment of the Company’s long-lived assets could exist. These indicators included continued volatility in the spot market and the related impact of the current container sector on management’s expectation for future revenues. As a result, step one of the impairment assessment of each of the vessel groups was performed as at December 31, 2022 and step two of the impairment analysis was required for one vessel group, as the undiscounted projected net operating cash flows did not exceed the carrying value. As a result, the Company recorded an impairment loss of $<span id="xdx_909_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_ze9RTBWuWKal" title="Vessel impairment charges">3,033 </span></span><span style="font-size: 10pt">for one vessel group with a total aggregate carrying amount of $<span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentNet_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zcNbGR0d6TOe">9,033 </span></span><span style="font-size: 10pt">which was written down to its fair value of $<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OneVesselGroupMember_zqSpXfD70CY2" title="Fair value of property, plant and equipment">6,000</span></span><span style="font-size: 10pt">.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Through 2021, the Company evaluated the impact of current economic situation on the recoverability of all its other vessel groups and has determined that there was no triggering event and no impairment test was performed for the year ended December 31, 2021.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">During the three months ended March 31, 2020, the Company determined that the vessels Utrillo and GSL Matisse should be divested. As at March 31, 2020, the vessels were not immediately available for sale and therefore did not qualify as “assets held for sale”. As of March 31, 2020, the Company had an expectation that the vessels would each be sold before the end of their estimated useful life, and as a result an impairment test of each of the specific asset groups was performed, recognizing an impairment loss of $<span id="xdx_90F_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20200331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zBxLhOxVwHke" title="Vessel impairment losses">7,585</span>. As of June 30, 2020, the Company concluded that all the criteria required by the relevant accounting standard, ASC 360 for the classification of the vessels GSL Matisse and Utrillo as “held for sale” were met. The difference between the estimated fair value less cost to sell both vessels and their carrying value (including the unamortized balance of dry-docking cost of $<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20200401__20200630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember__srt--StatementScenarioAxis__custom--UnamortizedDrydockingCostsMember_zT811wM8kjpc" title="Unamortized balance cost">38</span>), amounting to $<span id="xdx_908_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200401__20200630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zMllz3bpURTl" title="Vessel impairment losses">912</span>, was recognized during the three months ended June 30, 2020 under the line item “Impairment of vessels”. An impairment loss of $<span id="xdx_900_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMatisseAndUtrilloMember_zHdhEX0yBBml" title="Vessel impairment losses">8,497</span> has been recognized under the line item “Impairment of vessels” in the Consolidated Statements of Income for the year ended December 31, 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Whilst charter rates in the spot market and asset values saw overall improvements through 2020, taking into account the seasonal as well as cyclical nature of the container shipping industry, the recovery was not considered to have been sufficiently sustained not to undertake a review for impairment for vessel groups where the carrying value as at December 31, 2020 might not be recoverable. As a result, step one of the impairment assessment of each of the vessel groups was performed, by comparing the undiscounted projected net operating cash flows for each vessel group to the carrying value of the vessel group. The Company’s assessment performed as at December 31, 2020 resulted in no additional impairment charges.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The total impairment loss recognized for the years ended December 31, 2022, 2021 and 2020 amounted to $<span id="xdx_90E_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20220101__20221231_zaU4XjoVFskl" title="Impairment Loss">3,033</span>, $nil and $<span id="xdx_900_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20200101__20201231_zvc1IY2tzsk" title="Impairment Loss">8,497</span>, respectively.</span> <span id="xdx_90E_eus-gaap--TangibleAssetImpairmentCharges_pn3n3_c20210101__20211231_zCu4oUSFrhTf" style="display: none">0</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>Collateral</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, <span id="xdx_903_ecustom--NumberOfVesselsPledgedAsCollateralUnderCreditFacilities_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zq8ryyps5dib">20</span> vessels were pledged as collateral under the 5.69% Senior Secured Notes due 2027 and <span id="xdx_90D_ecustom--NumberOfVesselsPledgedAsCollateralUnderCreditFacilities_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--OtherLoanFacilitiesMember_zrAwNJpbCyIe">40</span> vessels under the Company’s loan facilities. <span id="xdx_901_ecustom--NumberOfUnencumberedVessels_dc_uPure_c20220101__20221231_zcxLSN0DAiB5" title="Number of unencumbered vessels">Five</span> vessels were unencumbered as of December 31, 2022.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>4. Vessels in Operation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b/>  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>Advances for vessel acquisitions and other additions</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, and December 31, 2021, there were no advances for vessel acquisitions, as all vessels had been delivered as at these dates. As of December 31, 2022, and December 31, 2021, the Company had advances for other vessel additions mainly for ballast water treatment systems totaling $<span id="xdx_900_eus-gaap--AdditionsToOtherAssetsAmount_pn3n3_c20220101__20221231_zTJLfV9NsPkg" title="Ballast water treatments and other additions amount">4,881</span> and $<span id="xdx_901_eus-gaap--AdditionsToOtherAssetsAmount_pn3n3_c20210101__20211231_zmb6Af8s9R47" title="Ballast water treatments and other additions amount">6,139</span>, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--PropertyPlantAndEquipmentTextBlock_zsFrlEZB3io4" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span id="xdx_8BE_z9yFEQuDhqwc" style="display: none">Vessels in Operation - Schedule of Vessels in Operation (Table)</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"/> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"/></tr> <tr> <td style="text-align: center; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Vessel Gross Cost,</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>as adjusted for impairment charges</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Accumulated Depreciation</b></span></p></td> <td style="text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Book Value</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="width: 65%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of January 1, 2020</b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zyiKUodTTWO1" title="Balance beginning of period">1,306,936</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zVnSwPHNJSa6" title="Balance beginning of period">(151,350)</span></b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_z4kh3gYFOCH" title="Balance beginning of period">1,155,586</span></b></span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zuPyseXEJM6b" title="Additions">41,710</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_za43KwI4F2q4" title="Additions">41,710</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zHmXa44iv2mj" title="Disposals">(7,058)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zZuFRcwWH3u6" style="font-size: 10pt">(7,058)</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation</span></td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_900_eus-gaap--Depreciation_iN_pn3n3_di0_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zEgFpYsEhiz3" title="Depreciation">(41,158)</span></span></td> <td> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--Depreciation_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zpOuKG1npeHh" title="Depreciation">(41,158)</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Impairment Loss</span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_904_ecustom--AssetImpairmentChargesGross_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zRZgoHomBRC" title="Impairment Loss">(43,803)</span></span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_ecustom--AccumulatedDepreciationDepletionAndAmortizationImpairmentLossOfPropertyPlantAndEquipment_pn3n3_d0_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_z0rdwzz9NMl5" title="Impairment loss">35,306</span></span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--TangibleAssetImpairmentCharges_iN_pn3n3_di_c20200101__20201231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zVqNtWiXNza7" title="Impairment Loss">(8,497)</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2020</b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_z8lvegSGOX21" title="Balance beginning of period">1,297,785</span></b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_902_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zj4Tkjh9rxV8" title="Balance beginning of period">(157,202)</span></b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zbQ1uHprV6gc" title="Balance beginning of period">1,140,583</span></b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zIV0T1TKbTQe" title="Additions">603,514</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zYb5I7jO2Yq8" title="Additions">603,514</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Disposals</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zvSbkgaZUUL5" title="Disposals">(23,167)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1_iP2us-gaap--Depreciation_pn3n3_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zHzop3MZBlj9" title="Disposals">14,445</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentDisposals_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zrGACZDrC6Ac" title="Disposals">(8,722)</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_eus-gaap--Depreciation_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zfWiPuxg0i8b" title="Depreciation">(52,559)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--Depreciation_iN_pn3n3_di_c20210101__20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zC5CHdOKWYRj" title="Depreciation">(52,559)</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2021</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentGross_iS_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_ztAnVZOcT2y" title="Balance beginning of period">1,878,132</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNS_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zOcnAonLJDb2" title="Balance beginning of period">(195,316)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentNet_iS_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zpk82G9cucm5" title="Balance beginning of period">1,682,816</span></b></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"/></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zBDTrlDEAkwe" title="Additions">11,756</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zgRfH6gVAPyj" title="Additions">11,756</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Depreciation </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--Depreciation_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zydRbAekm6lf" title="Depreciation">(68,232)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--Depreciation_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zztksO7EFovj" title="Depreciation">(68,232)</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Impairment loss</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_ecustom--AssetImpairmentChargesGross_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_z8z2wsenlyk7" title="Impairment Loss">(3,730)</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_ecustom--AccumulatedDepreciationDepletionAndAmortizationImpairmentLossOfPropertyPlantAndEquipment_pn3n3_d0_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zlgjXLYQLXmd" title="Impairment loss">697</span></span></td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--TangibleAssetImpairmentCharges_iN_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zZC4QiimbwO" title="Impairment Loss">(3,033)</span></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>As of December 31, 2022</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentGross_iE_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--VesselCostMember_zNsNuTghQvF8" title="Balance ending of period">1,886,158</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_901_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNE_pn3n3_di_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AccumulatedDepreciationMember_zl9nAJzA9xO7" title="Balance ending of period">(262,851)</span></b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentNet_iE_pn3n3_c20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--NetBookValueMember_zhCTsEXkXyKb" title="Balance ending of period">1,623,307</span></b></span></td></tr> </table> 1306936000 151350000 1155586000 41710000 41710000 7058000 7058000 41158000 41158000 43803000 35306000 8497000 1297785000 157202000 1140583000 603514000 603514000 23167000 14445000 8722000 52559000 52559000 1878132000 195316000 1682816000 11756000 11756000 68232000 68232000 3730000 697000 3033000 1886158000 262851000 1623307000 <p id="xdx_894_ecustom--PropertyPlantAndEquipmentAcquisitionsTextBlock_zdZmeslR4uf8" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8BC_zIche6ycl9Ia" style="display: none">Vessels in Operation - Vessels Acquisitions (Table)</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span style="display: none"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 0.5pt solid; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Name</b></span></td> <td id="xdx_485_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zT2u3EhwFd1" style="border-bottom: Black 0.5pt solid; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_484_ecustom--YearBuilt_zIB0TwP9Gvm1" style="border-bottom: Black 0.5pt solid; text-align: center; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_488_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_zC8hF7PMt1P5" style="border-bottom: Black 0.5pt solid; text-align: center; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_48A_ecustom--DeliveryDate_zXtU5nO8Jzm5" style="border-bottom: Black 0.5pt solid; vertical-align: top; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Delivery date</b></span></td></tr> <tr id="xdx_41C_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLTripoliMember_zwlF7ncJDxq6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tripoli</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">37,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">September 1, 2021</span></td></tr> <tr id="xdx_41F_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLTinosMember_zDx4mgRfYEgf"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tinos</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">37,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">September 9, 2021 </span></td></tr> <tr id="xdx_41C_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLSyrosMember_zDpEqP1EOHia" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Syros</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2010</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">37,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">September 13, 2021 </span></td></tr> <tr id="xdx_41D_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKithiraMember_zfeY3Z18GsS7"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Kithira</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,470</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2009</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">36,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">October 13, 2021</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">The charters of the Four Vessels resulted in an intangible liability of $<span id="xdx_900_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iI_pn3n3_c20211013__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--FourVesselsMember_zGo21iAQPBe8">17,100</span> that was recognized and will be amortized over the remaining useful life of the charters.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>4. Vessels in Operation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>2021 Vessels acquisitions (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">In July 2021, the Company took delivery of the Twelve Vessels as per below:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 1pt solid; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Name</b></span></td> <td id="xdx_483_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zfTwaFA8UUne" style="border-bottom: Black 1pt solid; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_487_ecustom--YearBuilt_z4eIuDJdYGsk" style="border-bottom: Black 1pt solid; text-align: center; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48F_eus-gaap--PropertyPlantAndEquipmentAdditions_zUVXXYqFySYk" style="border-bottom: Black 1pt solid; text-align: center; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_480_ecustom--DeliveryDate_z4wZyJsrL9aj" style="border-bottom: Black 1pt solid; vertical-align: top; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Delivery Date</b></span></td></tr> <tr id="xdx_416_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLSusanMember_zEdeDWeoFSu8" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Susan</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">4,363</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">20,740</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_416_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLRossiMember_zL6HTlWw3KY7"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Rossi</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">21,580</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_416_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAliceMember_znH0nKuTgwN5" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Alice</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,421</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">23,150</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_411_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMelinaMember_z4RDjiRNvNL4"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melina</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">23,990</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_414_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleftheriaMember_zXLLbxT48kbc" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Eleftheria</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">3,404</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2013</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">26,870</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_41D_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMercerMember_zpDytZD53SIg"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Mercer</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">20,750</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_41E_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLLaloMember_zHV61804tHEf" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Lalo</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">13,320</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_41A_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--MatsonMolokaiMember_zc1tdvXhvoA3"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Matson Molokai</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,824</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2007</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">16,430</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 15, 2021</span></td></tr> <tr id="xdx_410_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLElizabethMember_zCmYuvDJXTxd" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Elizabeth</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,741</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2006</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">13,910</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 28, 2021</span></td></tr> <tr id="xdx_414_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLChloeMember_zx7y9a0dOjUk"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">tbr GSL Chloe</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2012</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">22,320</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_414_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMarenMember_z4eyTCmPMzla" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maren</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2,546</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2014</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">23,270</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> <tr id="xdx_415_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAmstelMember_zFPedclEGweg"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Amstel</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">1,118</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2008</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">7,560</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 29, 2021</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The charters in place at the time of the purchase of the Twelve Vessels resulted in an intangible liability of $<span id="xdx_90D_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iI_pn3n3_c20210729__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsMember_zqjc0YK2gnyg">76,193</span> that was recognized and will be amortized over the remaining useful life of the charters.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In April, May and July 2021, the Company took delivery of the Seven Vessels as per below:</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: Black 1pt solid; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Name</b></span></td> <td id="xdx_483_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_zYBvfSmGJN28" style="border-bottom: Black 1pt solid; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Capacity in TEUs</b></span></td> <td id="xdx_487_ecustom--YearBuilt_zUQ0SRaz7G4g" style="border-bottom: Black 1pt solid; text-align: center; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Year Built</b></span></td> <td id="xdx_48F_eus-gaap--PropertyPlantAndEquipmentAdditions_zfDRq4TuTBDa" style="border-bottom: Black 1pt solid; text-align: center; width: 17%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Purchase Price</b></span></td> <td id="xdx_480_ecustom--DeliveryDate_zW1PusvsTHL7" style="border-bottom: Black 1pt solid; vertical-align: top; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Delivery Date</b></span></td></tr> <tr id="xdx_41F_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMYNYMember_zmnFppUB2Zpj" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL MYNY</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">17,600</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">July 28, 2021</span></td></tr> <tr id="xdx_418_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMelitaMember_zghKhWvtQpA7"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Melita</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">15,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">May 25, 2021</span></td></tr> <tr id="xdx_418_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLViolettaMember_zGXvaeUAFMIl" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Violetta<sup id="xdx_F4D_zKMukBakLPB3">*</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">17,300</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 28, 2021</span></td></tr> <tr id="xdx_412_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLMariaMember_zJBjEPxRR0u"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Maria<sup id="xdx_F4A_zMX0dw0lIJeg">*</sup></span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">16,600</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 28, 2021</span></td></tr> <tr id="xdx_413_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLArcadiaMember_zH3nU7K7S003" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Arcadia</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">6,008</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">18,000</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 26, 2021</span></td></tr> <tr id="xdx_419_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLDorotheaMember_zGVcn1Wpimx2"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Dorothea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">15,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">April 26, 2021</span></td></tr> <tr id="xdx_417_20220101__20221231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLTegeaMember_zlnvZ84AwuI6" style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">GSL Tegea</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">5,992</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">2001</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">15,500</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">May 17, 2021</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td id="xdx_F05_zCV9cbSlP3B4" style="width: 1%">*</td> <td id="xdx_F13_zTz3SRmRPMRk" style="width: 99%">The charters of these vessels resulted in an intangible liability of $<span id="xdx_90D_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iI_pn3n3_c20210728__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SevenVesselsMember_zLh59I9jhDfk">3,051</span> that was recognized and amortized over the remaining useful life of the charters. As of December 31, 2022, the intangible liability relating to the Seven Vessels had been fully amortized.</td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> 5470000 2009 37000000 September 1, 2021 5470000 2010 37500000 September 9, 2021 5470000 2010 37500000 September 13, 2021 5470000 2009 36000000 October 13, 2021 17100000 4363000 4363000 2008 2008 20740000 20740000 July 29, 2021 July 29, 2021 3421000 3421000 2012 2012 21580000 21580000 July 29, 2021 July 29, 2021 3421000 3421000 2014 2014 23150000 23150000 July 29, 2021 July 29, 2021 3404000 3404000 2013 2013 23990000 23990000 July 29, 2021 July 29, 2021 3404000 3404000 2013 2013 26870000 26870000 July 29, 2021 July 29, 2021 2824000 2824000 2007 2007 20750000 20750000 July 29, 2021 July 29, 2021 2824000 2824000 2006 2006 13320000 13320000 July 29, 2021 July 29, 2021 2824000 2824000 2007 2007 16430000 16430000 July 15, 2021 July 15, 2021 2741000 2741000 2006 2006 13910000 13910000 July 28, 2021 July 28, 2021 2546000 2546000 2012 2012 22320000 22320000 July 29, 2021 July 29, 2021 2546000 2546000 2014 2014 23270000 23270000 July 29, 2021 July 29, 2021 1118000 1118000 2008 2008 7560000 7560000 July 29, 2021 July 29, 2021 76193000 6008000 6008000 6008000 2000 2000 2000 17600000 17600000 17600000 July 28, 2021 July 28, 2021 July 28, 2021 6008000 6008000 6008000 2001 2001 2001 15500000 15500000 15500000 May 25, 2021 May 25, 2021 May 25, 2021 6008000 6008000 6008000 2000 2000 2000 17300000 17300000 17300000 April 28, 2021 April 28, 2021 April 28, 2021 6008000 6008000 6008000 2001 2001 2001 16600000 16600000 16600000 April 28, 2021 April 28, 2021 April 28, 2021 6008000 6008000 6008000 2000 2000 2000 18000000 18000000 18000000 April 26, 2021 April 26, 2021 April 26, 2021 5992000 5992000 5992000 2001 2001 2001 15500000 15500000 15500000 April 26, 2021 April 26, 2021 April 26, 2021 5992000 5992000 5992000 2001 2001 2001 15500000 15500000 15500000 May 17, 2021 May 17, 2021 May 17, 2021 3051000 16514000 the vessel was released as collateral under the Company’s $236,200 senior secured loan facility with Hayfin Capital Management, LLP (the “New Hayfin Credit Facility”) 7770000 2020-02-21 2002 6840 12660000 2020-01-29 2002 6840 13000000 3411000 the vessel was released as collateral under the Company’s 2022 Notes and Citi Credit Facility 3441000 the vessel was released as collateral under the Company’s 2022 Notes and Citi Credit Facility 244000 3033000 9033000 6000000 7585000 38000 912000 8497000 3033000 8497000 0 20 40 5 4881000 6139000 <p id="xdx_803_ecustom--DeferredChargesTextBlock_zfv9yjnraqDa" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>5. <span id="xdx_827_zCHpzAvVOaf8">Deferred charges, net</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Deferred charges, net as of December 31, 2022, 2021 and 2020 consisted of the following:</span></p> <p id="xdx_89E_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zBMIbiSy4Hvi" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> <span id="xdx_8BA_zunP4YNECzU3" style="display: none">Deferred charges, net (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dry - docking Costs</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of January 1, 2020</b></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$   </b></span></td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>                  <span id="xdx_909_eus-gaap--DeferredCosts_iS_pn3n3_c20200101__20201231_zyl5BotTkaz2" title="Balance beginning of period">16,408</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Additions</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> <span id="xdx_90F_ecustom--DeferredCostsAdditions_pn3n3_c20200101__20201231_zdTjoNMyNOUl" title="Additions">12,401</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Amortization</span></td> <td style="padding-right: -5.25pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">    </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">                 <span id="xdx_90D_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20200101__20201231_zdMKCdcVDCUb" title="Amortization">(5,820)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Write - off</span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_900_ecustom--DeferredCostsWriteOff_iN_pn3n3_di_c20200101__20201231_z3qVmKz2w2Df" title="Write - off">(38)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: white 2.25pt double; width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of December 31, 2020</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_eus-gaap--DeferredCosts_iS_pn3n3_c20210101__20211231_zNkH13Cpt9le" title="Balance beginning of period">22,951</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_904_ecustom--DeferredCostsAdditions_c20210101__20211231_zJsALisorRfi" title="Additions">23,704</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20210101__20211231_zdSa4gLfo7F7" title="Amortization">(9,004)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Write - off</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_ecustom--DeferredCostsWriteOff_iN_pn3n3_di_c20210101__20211231_ztvTU29oHVDk" title="Write - off">(22)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of December 31, 2021</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_eus-gaap--DeferredCosts_iS_pn3n3_c20220101__20221231_zcCbfErljC97" title="Balance beginning of period">37,629</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90D_ecustom--DeferredCostsAdditions_c20220101__20221231_zeLikOOd44ta" title="Additions">30,105</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20220101__20221231_z09BYzQe9F99" title="Amortization">(13,071)</span></span></td></tr> <tr style="background-color: White"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of December 31, 2022</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90F_eus-gaap--DeferredCosts_iE_pn3n3_c20220101__20221231_zYzpgfzMkeJa" title="Balance ending of period">54,663</span></b></span></td></tr> </table> <p id="xdx_8AD_zZKYX8NO6f0k" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company follows the deferral method of accounting for dry-docking costs in accordance with accounting for planned major maintenance activities, whereby actual costs incurred are deferred and amortized on a straight-line basis over the period of five years until approximately the next scheduled dry-docking, which is generally <span id="xdx_903_ecustom--PeriodBetweenScheduledDrydockings_dc_c20220101__20221231_zJ6aZWsyefj3" title="Period between scheduled regulatory drydockings">five years</span>. Any remaining unamortized balance from the previous dry-docking are written-off.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zBMIbiSy4Hvi" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> <span id="xdx_8BA_zunP4YNECzU3" style="display: none">Deferred charges, net (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dry - docking Costs</b></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of January 1, 2020</b></span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$   </b></span></td> <td style="text-align: right; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>                  <span id="xdx_909_eus-gaap--DeferredCosts_iS_pn3n3_c20200101__20201231_zyl5BotTkaz2" title="Balance beginning of period">16,408</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Additions</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> <span id="xdx_90F_ecustom--DeferredCostsAdditions_pn3n3_c20200101__20201231_zdTjoNMyNOUl" title="Additions">12,401</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Amortization</span></td> <td style="padding-right: -5.25pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">    </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">                 <span id="xdx_90D_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20200101__20201231_zdMKCdcVDCUb" title="Amortization">(5,820)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Write - off</span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_900_ecustom--DeferredCostsWriteOff_iN_pn3n3_di_c20200101__20201231_z3qVmKz2w2Df" title="Write - off">(38)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: white 2.25pt double; width: 88%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of December 31, 2020</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_eus-gaap--DeferredCosts_iS_pn3n3_c20210101__20211231_zNkH13Cpt9le" title="Balance beginning of period">22,951</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_904_ecustom--DeferredCostsAdditions_c20210101__20211231_zJsALisorRfi" title="Additions">23,704</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20210101__20211231_zdSa4gLfo7F7" title="Amortization">(9,004)</span></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Write - off</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90B_ecustom--DeferredCostsWriteOff_iN_pn3n3_di_c20210101__20211231_ztvTU29oHVDk" title="Write - off">(22)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of December 31, 2021</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_eus-gaap--DeferredCosts_iS_pn3n3_c20220101__20221231_zcCbfErljC97" title="Balance beginning of period">37,629</span></b></span></td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Additions</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90D_ecustom--DeferredCostsAdditions_c20220101__20221231_zeLikOOd44ta" title="Additions">30,105</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><span style="font-size: 10pt">Amortization</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--AmortizationOfDeferredCharges_iN_pn3n3_di_c20220101__20221231_z09BYzQe9F99" title="Amortization">(13,071)</span></span></td></tr> <tr style="background-color: White"> <td style="border-bottom: white 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>As of December 31, 2022</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_90F_eus-gaap--DeferredCosts_iE_pn3n3_c20220101__20221231_zYzpgfzMkeJa" title="Balance ending of period">54,663</span></b></span></td></tr> </table> 16408000 12401000 5820000 38000 22951000 23704000 9004000 22000 37629000 30105000 13071000 54663000 P5Y <p id="xdx_80E_ecustom--DisclosureIntangibleLiabilitiesCharterAgreementsAbstract_zsUr79sSMQP3" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b>6. <span id="xdx_826_zuHMSlEbkP1b">Intangible Liabilities/Assets - Charter Agreements</span></b></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Intangible Liabilities - Charter Agreements as of December 31, 2022 and 2021 consisted of the following:</span></p> <p id="xdx_89D_ecustom--ScheduleOfIntangibleLiabilitiesCharterAgreementsTableTextBlock_zweQvnLSfhii" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B2_z9NvhAfUP9Ea" style="display: none">Intangible Liabilities/ Assets - Charter Agreements - Schedule of Intangible Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: top; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iS_pn3n3_c20220101__20221231_z6Ml75yR4M7l" title="Opening balance">55,376</span></span></td> <td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90D_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iS_pn3n3_c20210101__20211231_znBC6XqhgIc3" title="Opening balance">4,462</span></span></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1_pn3n3_d0_c20220101__20221231_z7lRosnyO9M8" title="Additions">—</span></span></td> <td> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1_pn3n3_c20210101__20211231_zOfNNnLRiMSk" title="Additions">96,344</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Amortization </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_ecustom--AmortizationOfBelowMarketLeases_iN_pn3n3_di_c20220101__20221231_zjQsMOjFQhJ" title="Amortization">(41,158)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_900_ecustom--AmortizationOfBelowMarketLeases_iN_pn3n3_di_c20210101__20211231_z0PsiT4HBAPb" title="Amortization">(45,430)</span></span></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total </b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_906_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iE_pn3n3_c20220101__20221231_zpzLgPaIpOZ6" title="Total">14,218</span></b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iE_pn3n3_c20210101__20211231_z3W0FdeS0vI3" title="Total">55,376</span></b></span></td></tr> </table> <p id="xdx_8A7_z1diVIrcwzkj" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Intangible Assets – Charter Agreements as of December 31, 2021 and 2020 ($nil as of December 31, 2022 and 2021 as were fully amortized during 2020) consisted of the following:</span> </p> <p id="xdx_891_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zgf7hmDnO2sh" style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt"><span id="xdx_8BE_zcSMKdXNhTKj" style="display: none">Intangible Liabilities/ Assets - Charter Agreements - Schedule of Intangible Assets (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2020</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 9pt"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_pn3n3_d0_c20210101__20211231_zIX3K8VbUSwl" title="Opening balance">—</span></span></td> <td style="width: 1%"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 9pt"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_pn3n3_d0_c20200101__20201231_zED3sDIoTthc" title="Opening balance">1,467</span></span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Amortization</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><span id="xdx_90B_ecustom--AmortizationOfAboveMarketLeases_iN_pn3n3_di0_c20210101__20211231_z9WnhMCCwWi7" title="Amortization">—</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><span id="xdx_903_ecustom--AmortizationOfAboveMarketLeases_iN_pn3n3_di0_c20200101__20201231_zHEXk88PcQ7b" title="Amortization">(1,467)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total </b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><b><span id="xdx_90F_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_pn3n3_d0_c20210101__20211231_zLxzdIcwl98k" title="Total">—</span></b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><b><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_pn3n3_d0_c20200101__20201231_zwZ9V1l7rYDa" title="Total">—</span></b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_8AA_ztgHUuZtw2ej" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>6</b> .<span style="font-size: 10pt"><b>Intangible Liabilities/Assets - Charter Agreements (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Intangible liabilities are related to (i) acquisition of the Seven, the Twelve and the Four Vessels, and (ii) management’s estimate of the fair value of below-market charters on August 14, 2008, the date of the Marathon Merger (see note 1). These intangible liabilities are being amortized over the remaining life of the relevant lease terms and the amortization income is included under the caption “Amortization of intangible liabilities-charter agreements” in the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Intangible assets were derived from the management’s estimate of the fair value of above-market charters. These intangible assets, were being amortized over the remaining term of the relevant charter, giving rise to a reduction in time charter revenue. The unamortized balance of the intangible assets recognized following the Poseidon Transaction (Note 1) as of December 31, 2019, was fully amortized during the second quarter of 2020.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Amortization income of intangible liabilities-charter agreements for the years ended December 31, 2022, 2021 and 2020 was $<span id="xdx_902_ecustom--AmortizationOfAboveAndBelowMarketLeases1_pn3n3_c20220101__20221231_zCrWaMbURty1" title="Amortization income of intangible liabilities-charter agreements">41,158</span> and $<span id="xdx_90A_ecustom--AmortizationOfAboveAndBelowMarketLeases1_pn3n3_c20210101__20211231_zkjF1EsjkSg5" title="Amortization income of intangible liabilities-charter agreements">45,430</span> and $<span id="xdx_901_ecustom--AmortizationOfAboveAndBelowMarketLeases1_pn3n3_c20200101__20201231_z3qGwIu8yPeb" title="Amortization income of intangible liabilities-charter agreements">541</span> ($<span id="xdx_90C_ecustom--AmortizationOfBelowMarketLeases_pn3n3_c20200101__20201231_zQqFTIDLi7qh" title="Amortization of intangible liabilities">2,008</span> amortization income of intangible liabilities-charter agreements net of $<span id="xdx_905_ecustom--AmortizationOfAboveMarketLeases_pn3n3_d0_c20200101__20201231_zLYGrxOusGp4" title="Amortization of intangible asset">1,467</span> amortization expense of intangible assets-charter agreements), including related party amortization of intangible liabilities-charter agreements of $<span id="xdx_90C_ecustom--AmortizationOfIntangibleLiabilitiesRelatedParty_pn3n3_c20220101__20221231_zG2S9tf0pfsd" title="Amortization of intangible liabilities - related party">5,385</span>, $<span id="xdx_909_ecustom--AmortizationOfIntangibleLiabilitiesRelatedParty_pn3n3_c20210101__20211231_zJ6aNf0dQFy7" title="Amortization of intangible liabilities - related party">6,882</span>, and $<span id="xdx_908_ecustom--AmortizationOfIntangibleLiabilitiesRelatedParty_pn3n3_c20200101__20201231_zId6Zvhh5nSa" title="Amortization of intangible liabilities - related party">1,782</span> for each of the years ended December 31, 2022, 2021 and 2020, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The aggregate amortization of the intangible liabilities in each of the 12-month periods up to December 31, 2025 is estimated to be as follows:</span></p> <p id="xdx_898_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zDRxuDsxxdVf" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B4_ziNYQ1ABYT0i" style="display: none">Intangible Liabilities/ Assets - Charter Agreements - Aggregate Amortization of Intangible Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td colspan="2" id="xdx_495_20221231_zfp2jRINFGv" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b>Amount</b></span></p></td></tr> <tr id="xdx_405_eus-gaap--BelowMarketLeaseAmortizationIncomeNextRollingTwelveMonths_iI_pn3n3_maBMLAIzhZa_zAxuxEJBdnPe" style="background-color: #CCECFF"> <td style="vertical-align: bottom; width: 84%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2023</span></td> <td style="vertical-align: top; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: bottom; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,556</span></td></tr> <tr id="xdx_40A_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearTwo_iI_pn3n3_maBMLAIzhZa_zqL41NdLjyfd" style="background-color: white"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2024</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">5,113</span></td></tr> <tr id="xdx_403_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearThree_iI_pn3n3_maBMLAIzhZa_zzvxSAW9Ktl3" style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2025</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">549</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--BelowMarketLeaseNet_iTI_pn3n3_mtBMLAIzhZa_c20221231_zjWCxzTI8zye" style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total"><span style="font-size: 10pt"><b>14,218</b></span></td></tr> </table> <p id="xdx_8AC_zTZctwR5jNB8" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt; background-color: white">T</span><span style="font-size: 10pt">he weighted average useful lives are <span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20221231_za1xDGC8R203" title="Weighted average useful lives">1.66</span> years for the remaining intangible liabilities-charter agreements terms.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfIntangibleLiabilitiesCharterAgreementsTableTextBlock_zweQvnLSfhii" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B2_z9NvhAfUP9Ea" style="display: none">Intangible Liabilities/ Assets - Charter Agreements - Schedule of Intangible Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: top; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_902_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iS_pn3n3_c20220101__20221231_z6Ml75yR4M7l" title="Opening balance">55,376</span></span></td> <td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_90D_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iS_pn3n3_c20210101__20211231_znBC6XqhgIc3" title="Opening balance">4,462</span></span></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Additions</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1_pn3n3_d0_c20220101__20221231_z7lRosnyO9M8" title="Additions">—</span></span></td> <td> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1_pn3n3_c20210101__20211231_zOfNNnLRiMSk" title="Additions">96,344</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Amortization </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_ecustom--AmortizationOfBelowMarketLeases_iN_pn3n3_di_c20220101__20221231_zjQsMOjFQhJ" title="Amortization">(41,158)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_900_ecustom--AmortizationOfBelowMarketLeases_iN_pn3n3_di_c20210101__20211231_z0PsiT4HBAPb" title="Amortization">(45,430)</span></span></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total </b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_906_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iE_pn3n3_c20220101__20221231_zpzLgPaIpOZ6" title="Total">14,218</span></b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b><span id="xdx_900_ecustom--IntangibleLiabilityCharterAgreementsNoncurrent_iE_pn3n3_c20210101__20211231_z3W0FdeS0vI3" title="Total">55,376</span></b></span></td></tr> </table> 55376000 4462000 0 96344000 41158000 45430000 14218000 55376000 <p id="xdx_891_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zgf7hmDnO2sh" style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt"><span id="xdx_8BE_zcSMKdXNhTKj" style="display: none">Intangible Liabilities/ Assets - Charter Agreements - Schedule of Intangible Assets (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td colspan="2" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2020</b></span></p></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; width: 77%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 9pt"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_pn3n3_d0_c20210101__20211231_zIX3K8VbUSwl" title="Opening balance">—</span></span></td> <td style="width: 1%"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 10%"><span style="font-size: 9pt"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsNet_iS_pn3n3_d0_c20200101__20201231_zED3sDIoTthc" title="Opening balance">1,467</span></span></td></tr> <tr style="background-color: White"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Amortization</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><span id="xdx_90B_ecustom--AmortizationOfAboveMarketLeases_iN_pn3n3_di0_c20210101__20211231_z9WnhMCCwWi7" title="Amortization">—</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><span id="xdx_903_ecustom--AmortizationOfAboveMarketLeases_iN_pn3n3_di0_c20200101__20201231_zHEXk88PcQ7b" title="Amortization">(1,467)</span></span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total </b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><b><span id="xdx_90F_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_pn3n3_d0_c20210101__20211231_zLxzdIcwl98k" title="Total">—</span></b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 9pt"><b><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetsGross_iE_pn3n3_d0_c20200101__20201231_zwZ9V1l7rYDa" title="Total">—</span></b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> 0 1467000 -0 1467000 0 0 41158000 45430000 541000 2008000 1467000 5385000 6882000 1782000 <p id="xdx_898_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zDRxuDsxxdVf" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B4_ziNYQ1ABYT0i" style="display: none">Intangible Liabilities/ Assets - Charter Agreements - Aggregate Amortization of Intangible Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td colspan="2" id="xdx_495_20221231_zfp2jRINFGv" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b>Amount</b></span></p></td></tr> <tr id="xdx_405_eus-gaap--BelowMarketLeaseAmortizationIncomeNextRollingTwelveMonths_iI_pn3n3_maBMLAIzhZa_zAxuxEJBdnPe" style="background-color: #CCECFF"> <td style="vertical-align: bottom; width: 84%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2023</span></td> <td style="vertical-align: top; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: bottom; width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,556</span></td></tr> <tr id="xdx_40A_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearTwo_iI_pn3n3_maBMLAIzhZa_zqL41NdLjyfd" style="background-color: white"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2024</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">5,113</span></td></tr> <tr id="xdx_403_eus-gaap--BelowMarketLeaseAmortizationIncomeRollingYearThree_iI_pn3n3_maBMLAIzhZa_zzvxSAW9Ktl3" style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2025</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">549</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--BelowMarketLeaseNet_iTI_pn3n3_mtBMLAIzhZa_c20221231_zjWCxzTI8zye" style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total"><span style="font-size: 10pt"><b>14,218</b></span></td></tr> </table> 8556000 5113000 549000 14218000 P1Y7M28D <p id="xdx_803_eus-gaap--OtherCurrentAssetsTextBlock_znzzZ1Zah2O2" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>7. <span id="xdx_827_zAkCvMNNUqDg">Prepaid Expenses and Other Current Assets</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Prepaid Expenses and Other Current Assets as at December 31, 2022 and December 31, 2021 consisted of the following:</span></p> <p id="xdx_894_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zH4c0ltWUKd6" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B4_z5oK4RYVWjTd" style="display: none">Prepaid Expenses and Other Current Assets (Table)</span><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_495_20221231_zAgixGKswBpa" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_490_20211231_zoHl6spUIwR5" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_401_eus-gaap--InsuranceSettlementsReceivableCurrent_iI_pn3n3_maPEAOAzY8Q_maPEAOAzzjY_zxNcxHfXUL7b" style="background-color: #CCECFF"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Insurance and other claims</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">15,008</span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,265</span></td></tr> <tr id="xdx_40A_eus-gaap--Supplies_iI_pn3n3_maPEAOAzzjY_z1u9XqIKWPfb" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Advances to suppliers and other assets</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,946</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7,963</span></td></tr> <tr id="xdx_409_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAzzjY_zr2HRVjiXUS5" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Prepaid insurances</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,969</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,657</span></td></tr> <tr id="xdx_40D_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAzzjY_z8EqaCCKEjek" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Other <sup id="xdx_F48_zglWgzmrMPr7">(1)</sup></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,842</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,339</span></td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzzjY_zU6yVRcMVRzh" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>33,765</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>25,224</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0A_zcysz7aeFYHg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="width: 99%"><span id="xdx_F1A_zB9efoXqZpHi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes mainly current portion of the straight-line basis of revenue recognition.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><sup/></span></p> <p id="xdx_8A8_zSCHqJwxMexa" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p id="xdx_894_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zH4c0ltWUKd6" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B4_z5oK4RYVWjTd" style="display: none">Prepaid Expenses and Other Current Assets (Table)</span><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_495_20221231_zAgixGKswBpa" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_490_20211231_zoHl6spUIwR5" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_401_eus-gaap--InsuranceSettlementsReceivableCurrent_iI_pn3n3_maPEAOAzY8Q_maPEAOAzzjY_zxNcxHfXUL7b" style="background-color: #CCECFF"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Insurance and other claims</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">15,008</span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,265</span></td></tr> <tr id="xdx_40A_eus-gaap--Supplies_iI_pn3n3_maPEAOAzzjY_z1u9XqIKWPfb" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Advances to suppliers and other assets</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,946</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7,963</span></td></tr> <tr id="xdx_409_eus-gaap--PrepaidInsurance_iI_pn3n3_maPEAOAzzjY_zr2HRVjiXUS5" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Prepaid insurances</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,969</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">2,657</span></td></tr> <tr id="xdx_40D_eus-gaap--OtherAssetsCurrent_iI_pn3n3_maPEAOAzzjY_z8EqaCCKEjek" style="background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Other <sup id="xdx_F48_zglWgzmrMPr7">(1)</sup></span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,842</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,339</span></td></tr> <tr id="xdx_404_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzzjY_zU6yVRcMVRzh" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>33,765</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>25,224</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span id="xdx_F0A_zcysz7aeFYHg" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="width: 99%"><span id="xdx_F1A_zB9efoXqZpHi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes mainly current portion of the straight-line basis of revenue recognition.</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><sup/></span></p> 15008000 6265000 6946000 7963000 2969000 2657000 8842000 8339000 33765000 25224000 <p id="xdx_800_eus-gaap--InventoryDisclosureTextBlock_zvMdHmUZRJY7" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>8. <span id="xdx_821_z5WDjNPl8bf1">Inventories</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Inventories as at December 31, 2022 and December 31, 2021 consisted of the following:</span></p> <p id="xdx_892_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zSMoJY4sHIS6" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B4_zz48UEuQghak" style="display: none">Inventories (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_499_20221231_zEHH0m8k6L67" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49C_20211231_zy1KoOsRpXj8" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40F_ecustom--BunkerInventoryCurrent_iI_pn3n3_d0_maINzeqV_zKKUGJyLo778" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Bunkers</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,187</span></td></tr> <tr id="xdx_405_ecustom--LubricantsInventoryCurrent_iI_pn3n3_maINzeqV_zBOZAVatask4" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Lubricants</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">10,048</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,462</span></td></tr> <tr id="xdx_40E_ecustom--StoresInventoryCurrent_iI_pn3n3_maINzeqV_zApj6sRRXMq3" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Stores</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,643</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,358</span></td></tr> <tr id="xdx_402_ecustom--VictuallingInventoryCurrent_iI_pn3n3_maINzeqV_zKC0vOKEzEh2" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Victualling</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">546</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">403</span></td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iTI_pn3n3_mtINzeqV_z7yg1bYXls0l" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>12,237</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>11,410</b></span></td></tr> </table> <p id="xdx_8AF_zDGjloI9L5o" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zSMoJY4sHIS6" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B4_zz48UEuQghak" style="display: none">Inventories (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_499_20221231_zEHH0m8k6L67" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49C_20211231_zy1KoOsRpXj8" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40F_ecustom--BunkerInventoryCurrent_iI_pn3n3_d0_maINzeqV_zKKUGJyLo778" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Bunkers</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,187</span></td></tr> <tr id="xdx_405_ecustom--LubricantsInventoryCurrent_iI_pn3n3_maINzeqV_zBOZAVatask4" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Lubricants</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">10,048</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">8,462</span></td></tr> <tr id="xdx_40E_ecustom--StoresInventoryCurrent_iI_pn3n3_maINzeqV_zApj6sRRXMq3" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Stores</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,643</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,358</span></td></tr> <tr id="xdx_402_ecustom--VictuallingInventoryCurrent_iI_pn3n3_maINzeqV_zKC0vOKEzEh2" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Victualling</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">546</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">403</span></td></tr> <tr id="xdx_400_eus-gaap--InventoryNet_iTI_pn3n3_mtINzeqV_z7yg1bYXls0l" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>12,237</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>11,410</b></span></td></tr> </table> 0 1187000 10048000 8462000 1643000 1358000 546000 403000 12237000 11410000 <p id="xdx_801_eus-gaap--FairValueDisclosuresTextBlock_z1Et48r5Fk7b" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>9. <span id="xdx_823_zSU38Rh4ygi">Derivative Asset</span> </b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In December 2021, the Company purchased interest rate caps with an aggregate notional amount of $<span id="xdx_908_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zXWT3BOrzLp7">484.1</span> million, which amount reduces over time as the Company’s outstanding debt balances amortize. The objective of the hedges is to reduce the variability of cash flows associated with the interest relating to its variable rate borrowings. The Company receives payments on the caps for any period that the one-month USD LIBOR rate is above beyond the strike rate, which is <span id="xdx_904_eus-gaap--DerivativeCapInterestRate_iI_dp_c20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zACZi67yd5e">0.75</span>%. The termination date of the interest rate cap agreements is <span id="xdx_906_eus-gaap--DerivativeMaturityDates_dd_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zXn0hSzAQBjj">November 30, 2026</span>. The premium paid to purchase the interest caps was $<span id="xdx_902_ecustom--PayablePremiumAmount_pn3n3_dd_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z8TpHT6KPf9g" title="Payable premium amount">7,000</span>, which was paid out of cash on <span id="xdx_90A_eus-gaap--DerivativeInceptionDates_dd_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zepq05BewHl" title="Premium paid date">December 22, 2021</span>. The premium is being amortized over the life of the interest rate cap by using the caplet method.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 12pt 0pt 0pt; text-align: justify"><span style="font-size: 10pt">In February 2022, the Company further hedged its exposure to a potential rising interest rate environment by putting in place <span id="xdx_909_ecustom--IntrerestRateCapsNumber_dc_uPure_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zOxA1vXv5S7c">two</span> USD one-month LIBOR interest rate caps of <span id="xdx_90F_eus-gaap--DerivativeCapInterestRate_iI_dp_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_zzPtUnRDV4d1">0.75</span>% through <span id="xdx_90E_ecustom--DerivativeMaturityDates1_c20220101__20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_ziRhp5QcvgAh">fourth quarter 2026</span>, on $<span id="xdx_901_eus-gaap--DerivativeNotionalAmount_iI_pin6_c20220228__us-gaap--DerivativeInstrumentRiskAxis__custom--InterestRateCapsMember_z3428vCZNTe4">507.9</span> million of its floating rate debt. The second interest rate cap was not designated as a cash flow hedge and therefore the positive fair value adjustment of $<span id="xdx_90E_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zirfCsFxGhrh">9,685</span> and $nil as at December 31, 2022 and 2021, respectively, was recorded through Consolidated Statements of Income. The premium paid by the Company to purchase the interest rate caps was $<span id="xdx_905_ecustom--PayablePremiumAmount_pn3n3_dd_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zhhptbeIuJQe" title="Payable premium amount">15,370</span>, which was paid out of cash on the settlement date. ASC 815-20-25-13a stipulates that an entity may designate either all or certain future interest payments on variable-rate debt as the hedged exposure in a cash flow hedge relationship. In this case, <span id="xdx_902_eus-gaap--DerivativeDescriptionOfHedgedItem_c20220101__20221231_zUphY6xk4SRi">the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged</span>. Amount received from interest rate caps for each of the years ended December 31, 2022, 2021 and 2020 was $<span id="xdx_905_eus-gaap--GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments_pn3n3_c20220101__20221231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zQI4Cf8mlcfg" title="Cash received from interest rate caps">9,245</span>, $nil and $nil, respectively.<span id="xdx_90D_eus-gaap--GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments_pn3n3_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_z3bviVWrTUtl"> <span id="xdx_90F_eus-gaap--GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments_pn3n3_c20200101__20201231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zxRCxtwEecA1"><span style="display: none"><span id="xdx_90F_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20210101__20211231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_zuUWC4x5pqY8"><span id="xdx_904_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_c20200101__20201231__us-gaap--DerivativeInstrumentRiskAxis__custom--SecondInterestRateCapsMember_z61ZBK8rbfYf">0</span></span></span></span></span></span></p> <p id="xdx_89F_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_ze8WAwfcD2bh" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_8B4_z0guhJhCyQEi" style="display: none">Derivative Asset - Schedule of Derivative Assets (Table) </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Opening balance</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98B_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iS_pn3n3_d0_c20220101__20221231_zpXPXrsXA1O9" style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Opening balance"><span style="font-size: 10pt"><b>7,227</b></span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iS_pn3n3_d0_c20210101__20211231_zn9T5QXQ77vf" style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Derivative asset premium</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--PayablePremiumAmount_pn3n3_d0_c20220101__20221231_znIvJj9zuK7h" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative asset premium"><span style="font-size: 10pt">15,370</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_ecustom--PayablePremiumAmount_pn3n3_d0_c20210101__20211231_z7swi4DM24T1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative asset premium"><span style="font-size: 10pt">7,000</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Unrealized gain on derivative assets</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--UnrealizedGainLossOnDerivatives_pn3n3_d0_c20220101__20221231_zSeKAi65cks7" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unrealized gain on derivative assets"><span style="font-size: 10pt">31,221</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--UnrealizedGainLossOnDerivatives_pn3n3_d0_c20210101__20211231_zoKEcNOuemdh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unrealized gain on derivative assets"><span style="font-size: 10pt">227</span></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Fair value adjustment on derivative asset</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20220101__20221231_zQeO4xxRvHt6" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Fair value adjustment on derivative asset"><span style="font-size: 10pt">9,685</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20210101__20211231_zgETS3fL9Vo6" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Fair value adjustment on derivative asset">—<span style="font-size: 10pt"><b/></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Closing balance</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iE_pn3n3_c20220101__20221231_zWjtVb9T16Ce" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Closing balance"><span style="font-size: 10pt"><b>63,503</b></span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_983_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iE_pn3n3_c20210101__20211231_zVJLGbsEwUmf" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Closing balance"><span style="font-size: 10pt"><b>7,227</b></span></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Current portion of derivative assets</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DerivativeAssetsCurrent_iNI_pn3n3_di_c20221231_zQ9hu8klnk8i" style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of derivative assets"><span style="font-size: 10pt">(29,645)</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DerivativeAssetsCurrent_iNI_pn3n3_di_c20211231_zKZzkJ2LUUch" style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of derivative assets"><span style="font-size: 10pt">(533)</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Non-current portion of derivative assets</b></span></td> <td style="border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_983_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_c20221231_zVJpLqEf1l3d" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-size: 10pt"><b>33,858</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98E_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_c20211231_zNX8swSlWkIe" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-size: 10pt"><b>6,694</b></span></td></tr> </table> <p id="xdx_8A1_zn6NSNpMN1Ik" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amounts included in accumulated other comprehensive income will be reclassified to interest expense should the hedges no longer be considered effective. The Company assesses the effectiveness of the hedges on an ongoing basis. As of December 31, 2022, following a quantitative assessment, part of the hedge was no longer considered effective and an amount of $<span id="xdx_90F_eus-gaap--OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_pn3n3_c20220101__20221231_zj1WaR4bWYWg" title="Unrealized gain on the interest rate caps">1,091</span> was reclassified from other comprehensive income to the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> 484100000 0.0075 2026-11-30 7000000 2021-12-22 2 0.0075 fourth quarter 2026 507900000 9685000 15370000 the Company has designated only a portion of its outstanding debt (initially, $253.9 million) as the hedged item, and any interest payments beyond the notional amount of the interest rate cap in any given period are not designated as being hedged 9245000 0 0 0 0 <p id="xdx_89F_eus-gaap--ScheduleOfDerivativeAssetsAtFairValueTableTextBlock_ze8WAwfcD2bh" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span id="xdx_8B4_z0guhJhCyQEi" style="display: none">Derivative Asset - Schedule of Derivative Assets (Table) </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Opening balance</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98B_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iS_pn3n3_d0_c20220101__20221231_zpXPXrsXA1O9" style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Opening balance"><span style="font-size: 10pt"><b>7,227</b></span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iS_pn3n3_d0_c20210101__20211231_zn9T5QXQ77vf" style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Derivative asset premium</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--PayablePremiumAmount_pn3n3_d0_c20220101__20221231_znIvJj9zuK7h" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative asset premium"><span style="font-size: 10pt">15,370</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_ecustom--PayablePremiumAmount_pn3n3_d0_c20210101__20211231_z7swi4DM24T1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Derivative asset premium"><span style="font-size: 10pt">7,000</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Unrealized gain on derivative assets</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--UnrealizedGainLossOnDerivatives_pn3n3_d0_c20220101__20221231_zSeKAi65cks7" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unrealized gain on derivative assets"><span style="font-size: 10pt">31,221</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--UnrealizedGainLossOnDerivatives_pn3n3_d0_c20210101__20211231_zoKEcNOuemdh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unrealized gain on derivative assets"><span style="font-size: 10pt">227</span></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Fair value adjustment on derivative asset</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20220101__20221231_zQeO4xxRvHt6" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Fair value adjustment on derivative asset"><span style="font-size: 10pt">9,685</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DerivativeGainLossOnDerivativeNet_pn3n3_d0_c20210101__20211231_zgETS3fL9Vo6" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Fair value adjustment on derivative asset">—<span style="font-size: 10pt"><b/></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Closing balance</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iE_pn3n3_c20220101__20221231_zWjtVb9T16Ce" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Closing balance"><span style="font-size: 10pt"><b>63,503</b></span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_983_eus-gaap--DerivativeInstrumentsInHedgesAssetsAtFairValue_iE_pn3n3_c20210101__20211231_zVJLGbsEwUmf" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Closing balance"><span style="font-size: 10pt"><b>7,227</b></span></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Current portion of derivative assets</span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DerivativeAssetsCurrent_iNI_pn3n3_di_c20221231_zQ9hu8klnk8i" style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of derivative assets"><span style="font-size: 10pt">(29,645)</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DerivativeAssetsCurrent_iNI_pn3n3_di_c20211231_zKZzkJ2LUUch" style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of derivative assets"><span style="font-size: 10pt">(533)</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Non-current portion of derivative assets</b></span></td> <td style="border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_983_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_c20221231_zVJpLqEf1l3d" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-size: 10pt"><b>33,858</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98E_eus-gaap--DerivativeAssetsNoncurrent_iI_pn3n3_c20211231_zNX8swSlWkIe" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of derivative assets"><span style="font-size: 10pt"><b>6,694</b></span></td></tr> </table> 7227000 0 15370000 7000000 31221000 227000 9685000 0 63503000 7227000 29645000 533000 33858000 6694000 1091000 <p id="xdx_80D_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_z2DKew8j2Dab" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>10. <span id="xdx_821_zbxJc4I658ql">Accounts Payable</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Accounts payable as of December 31, 2022 and 2021 consisted of the following:</span></p> <p id="xdx_89D_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zkCfRjysUdr7" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B4_znEXVUpMygba" style="display: none">Accounts Payable (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_499_20221231_znflMSzIuebh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49A_20211231_zDppYiquKGn5" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_408_ecustom--AccountsPayableToSuppliersAndRepairersCurrent_iI_pn3n3_maAPCz0Ba_ztjpZzTqaLq7" style="background-color: #CCECFF"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Suppliers, repairers</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">12,802</span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,339</span></td></tr> <tr id="xdx_40F_esrt--PayablesToBrokerDealersAndClearingOrganizations_iI_pn3n3_maAPCz0Ba_zWXe2ZgA9QL9"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Insurers, agents and brokers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">510</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">355</span></td></tr> <tr id="xdx_404_ecustom--AccountsPayableToCharterers_iI_pn3n3_maAPCz0Ba_zbp6NqOd6dEh" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Payables to charterers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,306</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,566</span></td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableOtherCurrent_iI_pn3n3_maAPCz0Ba_zq9FDvOX4xNl"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Other creditors</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3,137</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4,899</span></td></tr> <tr id="xdx_409_eus-gaap--AccountsPayableCurrent_iTI_pn3n3_mtAPCz0Ba_z1s8tY4P0qGe" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>22,755</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>13,159</b></span></td></tr> </table> <p id="xdx_8A5_zTz0IAxuALAk" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_89D_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zkCfRjysUdr7" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B4_znEXVUpMygba" style="display: none">Accounts Payable (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" id="xdx_499_20221231_znflMSzIuebh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49A_20211231_zDppYiquKGn5" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_408_ecustom--AccountsPayableToSuppliersAndRepairersCurrent_iI_pn3n3_maAPCz0Ba_ztjpZzTqaLq7" style="background-color: #CCECFF"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Suppliers, repairers</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">12,802</span></td> <td style="width: 1%"> </td> <td style="text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,339</span></td></tr> <tr id="xdx_40F_esrt--PayablesToBrokerDealersAndClearingOrganizations_iI_pn3n3_maAPCz0Ba_zWXe2ZgA9QL9"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Insurers, agents and brokers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">510</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">355</span></td></tr> <tr id="xdx_404_ecustom--AccountsPayableToCharterers_iI_pn3n3_maAPCz0Ba_zbp6NqOd6dEh" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Payables to charterers</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">6,306</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1,566</span></td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableOtherCurrent_iI_pn3n3_maAPCz0Ba_zq9FDvOX4xNl"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Other creditors</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3,137</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4,899</span></td></tr> <tr id="xdx_409_eus-gaap--AccountsPayableCurrent_iTI_pn3n3_mtAPCz0Ba_z1s8tY4P0qGe" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>22,755</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>13,159</b></span></td></tr> </table> 12802000 6339000 510000 355000 6306000 1566000 3137000 4899000 22755000 13159000 <p id="xdx_807_ecustom--AccountsPayableAndAccruedLiabilitiesDisclosure1TextBlock_zZeQ0e48Oqe" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>11. <span style="font-size: 10pt"><span id="xdx_827_zG5kpiH1zm82">Accrued Liabilities</span></span></b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Accrued liabilities as of December 31, 2022 and 2021 consisted of the following:</span></p> <p id="xdx_892_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_z6em8i3plrs1" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8BA_zWMxbGawpF3a" style="display: none">Accrued Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_499_20221231_zc7F95wxQw14" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td id="xdx_49A_20211231_zD36Ow2HZIC5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40C_ecustom--AccruedExpenses_iI_pn3n3_maALCzLaG_zdgN8GvCB47f" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Accrued expenses</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">26,676</span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">28,557</span></td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzLaG_zNPlvYOuJiv4"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Accrued interest</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">9,362</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3,692</span></td></tr> <tr id="xdx_407_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzLaG_zVs7HzPhu635" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>36,038</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>32,249</b></span></td></tr> </table> <p id="xdx_8A9_zCIEX09v4iOj" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b> </b></span></span></p> <p id="xdx_892_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_z6em8i3plrs1" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8BA_zWMxbGawpF3a" style="display: none">Accrued Liabilities (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_499_20221231_zc7F95wxQw14" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td id="xdx_49A_20211231_zD36Ow2HZIC5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="white-space: nowrap; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40C_ecustom--AccruedExpenses_iI_pn3n3_maALCzLaG_zdgN8GvCB47f" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Accrued expenses</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">26,676</span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">28,557</span></td></tr> <tr id="xdx_40D_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzLaG_zNPlvYOuJiv4"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Accrued interest</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">9,362</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3,692</span></td></tr> <tr id="xdx_407_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzLaG_zVs7HzPhu635" style="background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total</b></span></td> <td style="border-bottom: Black 2pt double; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>36,038</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>32,249</b></span></td></tr> </table> 26676000 28557000 9362000 3692000 36038000 32249000 <p id="xdx_80B_eus-gaap--LongTermDebtTextBlock_zTOY755ffKDh" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>12. <span id="xdx_82A_zLUPeMC1Cu03">Long-Term Debt</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Long-term debt as of December 31, 2022 and 2021 consisted of the following:</span></p> <p id="xdx_898_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_z5NqbePh2D0j" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B8_zRGZ5AO8yvp" style="display: none">Long-Term Debt - Schedule of Long - Term Debt (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Facilities</span></b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">2027 Secured Notes (a)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$ </span></td> <td id="xdx_985_eus-gaap--SeniorNotes_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zjwcNVl0SF43" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">336,875</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$</span> </td> <td id="xdx_985_eus-gaap--SeniorNotes_iI_pn3n3_d0_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zNDWGLO7rOS1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">—</span></td></tr> <tr> <td style="vertical-align: bottom; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">E.SUN, MICB, Cathay, Taishin Credit Facility (b)</span></td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zDSpvRz2BRH5" style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">46,500</span></td> <td style="width: 1%"> </td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zDWjwrTDR5Ul" style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">—</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sinopac Credit Facility (c)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityMember_z2l5v4LPdB1a" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">9,900</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityMember_z7l4OkvXlJM1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">11,580</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (d)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_z6qjnYccq8G4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">100,000</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_zP64zAXSu5G" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">132,000</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Deutsche Credit Facility (e)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityMember_zcG4hpQRAwKd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">44,695</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityMember_zjQpOSsLvMr1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">49,345</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">HCOB Credit Facility (f)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityMember_zYNgDJtnmUl7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">40,794</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityMember_zNdGrZp88Ax7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">56,844</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">CACIB, Bank Sinopac, CTBC Credit Facility (g)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityMember_zUagkE8lz9ff" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">44,050</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityMember_zjS2wn2NSav2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">49,150</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">New Hayfin Credit Facility (h)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--NewHayfinCreditFacilityMember_z7eOHmenoU2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--NewHayfinCreditFacilityMember_zRIDpStcJ2k9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">204,129</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Chailease Credit Facility (i)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityMember_zKcOBvEDhQ3d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3,852</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityMember_z8MoNpeuoCf5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">5,568</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">2024 Notes (j)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--NotesPayable_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--TwoThousandTwentyFourNotesMember_zrmAgO5bx4Xk" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">—</td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--NotesPayable_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--TwoThousandTwentyFourNotesMember_zIPGFjuB8Wvd" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">117,520</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Syndicated Senior Secured Credit Facility (CACIB, ABN, First-Citizens &amp; Trust Company, Siemens, CTBC, Bank Sinopac, Palatine) (k)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIMember_zCBQNHp6ss5h" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">181,200</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIMember_z9WLMZNWyTW2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">213,200</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Blue Ocean Junior Credit Facility (k, l)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityMember_z15QOqMNDWs" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">—</td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityMember_zYe0I8CisLwk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">26,205</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hellenic Bank Credit Facility (m)</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicBankCreditFacilityMember_z40Muhn9R1jc" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">—</td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicBankCreditFacilityMember_zK6m481mnTqh" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">41,700</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Notes"><span style="font-size: 10pt"><b>807,866</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Notes"><span style="font-size: 10pt"><b>907,241</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">2022 Notes (n)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_d0_c20221231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_ziDyM4Kykype" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20211231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zTUKkHGxLUue" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt">233,436</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less redemptions and repurchases (n)</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iNI_di0_c20221231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zThNS4wvBF9i" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less redemptions and repurchases (n)"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iNI_di0_c20211231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zDtXRBT1D0rd" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less redemptions and repurchases (n)"><span style="font-size: 10pt">(233,436)</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>2022 Notes (n)</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--NotesPayable_iIP3us-gaap--DebtInstrumentRepurchasedFaceAmount_d0_c20221231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zjW3KewFawd1" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--NotesPayable_iI_d0_c20211231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zGj15wb1Gaxf" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt"><b>—</b></span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total credit facilities</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--LongTermDebt_iI_pn3n3_c20221231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zrqcfocC8qwk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>807,866</b></span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_982_eus-gaap--LongTermDebt_iI_pn3n3_c20211231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zygM5qDobtA4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>907,241</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sale and Leaseback Agreement CMBFL - $120,000 (o)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_z6ySBCiEzwZ6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">89,838</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_zDYYGlbJUcJ1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">115,238</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sale and Leaseback Agreement CMBFL - $54,000 (p)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zhZGF0MbPp76" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">41,850</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zJD6tI893JF2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">49,950</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sale and Leaseback Agreement - Neptune $14,735 (q)</span></td> <td style="border-bottom: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction3Member_zplU5ptoKKsh" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">9,971</span></td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction3Member_zqoUxOMgrnqj" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">13,147</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total Sale and Leaseback Agreements</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_983_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20221231_z8IIDNC3sv4l" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-size: 10pt"><b>141,659</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20211231_z0r2cgy8Qudb" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-size: 10pt"><b>178,335</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total borrowings</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_eus-gaap--LongTermDebt_iI_pn3n3_c20221231_zsYVxyudvUM6" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-size: 10pt"><b>949,525</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98C_eus-gaap--LongTermDebt_iI_pn3n3_c20211231_zjRd7CkyfcT1" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-size: 10pt"><b>1,085,576</b></span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Current portion of long-term debt</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20221231__us-gaap--LongtermDebtTypeAxis__us-gaap--LongTermDebtMember_zFPwKakAoQ8g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-size: 10pt">(155,424)</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20211231__us-gaap--LongtermDebtTypeAxis__us-gaap--LongTermDebtMember_z6Nolod45xz5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-size: 10pt">(153,641)</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Current portion of Sale and Leaseback Agreements (o,p,q)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_ecustom--FinanceLeaseLiabilityICurrent_iNI_pn3n3_di_c20221231_zAxjj2Bo4v84" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (o,p,q)"><span style="font-size: 10pt">(34,408)</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_ecustom--FinanceLeaseLiabilityICurrent_iNI_pn3n3_di_c20211231_z8YJ21ELxTu5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (o,p,q)"><span style="font-size: 10pt">(36,675)</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Plus: Original issue premium of 2024 Notes (j)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_ecustom--LessPlusDeferredFinanceCostsGross_iNI_pn3n3_di0_c20221231_zbsTcuedf5p4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus: Original issue premium of 2024 Notes (j)"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_ecustom--LessPlusDeferredFinanceCostsGross_iNI_pn3n3_di_c20211231_zILe30F0K202" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus: Original issue premium of 2024 Notes (j)"><span style="font-size: 10pt">1,588</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Deferred financing costs (s)</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20221231_z0HZozvBAbh2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (s)"><span style="font-size: 10pt">(15,136)</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20211231_zcyqkK6LONa6" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (s)"><span style="font-size: 10pt">(16,714)</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Non-current portion of Long-Term Debt</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_985_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_d0_c20221231_z2Nnvvn6Rx31" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-size: 10pt"><b>744,557</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_d0_c20211231_ziCRrUHZA3B8" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-size: 10pt"><b>880,134</b></span></td></tr> </table> <p id="xdx_8A7_zG6dhh4cNmdk" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>12.</b> <b>Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"/> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>a)</b></span></td> <td style="width: 99%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5.69% Senior Secured Notes due 2027</b></span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90C_eus-gaap--DebtInstrumentIssuanceDate1_dd_c20220101__20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zatD2DfNeyZi">June 16, 2022</span>, Knausen Holding LLC (the "Issuer"), an indirect wholly-owned subsidiary of the Company, closed on the private placement of $<span id="xdx_902_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iI_pn3n3_c20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zcPvOmlok1P6">350,000</span> of privately rated/investment grade <span id="xdx_90E_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zrzcKzYmGL28">5.69</span>% Senior Secured Notes due 2027 (the “2027 Secured Notes”) to a limited number of accredited investors. The fixed interest rate was determined on June 1, 2022, based on the <span id="xdx_904_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20220101__20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zKDaYSPJJ2w4">interpolated interest rate of 2.84% plus a margin 2.85%</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company used the net proceeds from the private placement <span id="xdx_90C_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zhXM4mFwD0Ik">for the repayment of the remaining outstanding balances on its New Hayfin Credit Facility and the Hellenic Bank Credit Facility (releasing five unencumbered vessels), and our 2024 Notes. The remaining amount of net proceeds were allocated for general corporate purposes.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_905_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zykLOSvePEoc" title="Description of Repayment">An amount equal to 15% per annum of the original principal balance of each Note shall be paid in equal quarterly installments on the 15th day of each of January, April, July, and October starting October 15, 2022, and the remaining unpaid principal balance shall be due and payable on the maturity date of July 15, 2027.</span> Interest accrues on the unpaid balance of the Notes, payable quarterly on the 15th day of January, April, July, and October in each year, such interest commencing and accruing on and from June 14, 2022.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The 2027 Secured Notes are senior obligations of the Issuer, secured by first priority mortgages on <span id="xdx_900_eus-gaap--DebtInstrumentCollateral_c20220101__20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zyCP1xV1uDU8" title="Number of vessels collateral">20</span> identified vessels owned by subsidiaries of the Issuer (the “Subsidiary Guarantors”) and certain other associated assets and contract rights, as well as share pledges over the Subsidiary Guarantors. In addition, the 2027 Secured Notes are fully and unconditionally guaranteed by the Company.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zmgo696wAZr6">336,875</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>b)</b></span></td> <td style="vertical-align: top; width: 99%; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt"><b>$60.0 Million E.SUN, MICB, Cathay, Taishin Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_907_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zqDnOjsklYo3">December 30, 2021</span>, the Company via its subsidiaries Zeus One Marine LLC, Hephaestus Marine LLC and Pericles Marine LLC, entered into a new syndicated senior secured debt facility with E.SUN Commercial Bank Ltd (“E.SUN”), Cathay United Bank (“Cathay”), Mega International Commercial Bank Co. Ltd (“MICB”) and Taishin International Bank (“Taishin”). <span id="xdx_900_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zAERuTywKds9">The Company using a portion of the net proceeds from this credit facility fully prepaid the outstanding amount of the Blue Ocean Junior Credit facility</span>, amounting to $<span id="xdx_90A_eus-gaap--RepaymentsOfDebt_pn3n3_c20220101__20220119__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zYaL5n0pDzGl">26,205</span> plus a prepayment fee of $<span id="xdx_90F_ecustom--FeesOnRepaymentsOfDebt_pn3n3_c20220101__20220119__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zqnXoyf8xhgb">3,968</span>. All <span id="xdx_90E_ecustom--NumberOfTranches_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zUm9Um18dYu2">three</span> tranches were drawn down in <span id="xdx_908_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zyCxIqLhE9sh">January 2022</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The new Facility is repayable in <span id="xdx_90C_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember__srt--StatementScenarioAxis__custom--EightInstallmentsMember_zswRGJMOhcm9">eight</span> equal consecutive <span id="xdx_900_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember__srt--StatementScenarioAxis__custom--EightInstallmentsMember_zsMZeu82AHvj">quarterly</span> instalments of $<span id="xdx_902_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember__srt--StatementScenarioAxis__custom--EightInstallmentsMember_zcuM6gwJ5LEd">4,500</span> and <span id="xdx_906_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember__srt--StatementScenarioAxis__custom--TenInstallmentsMember_zcRgjlSMCnn4">ten</span> equal consecutive <span id="xdx_90D_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember__srt--StatementScenarioAxis__custom--TenInstallmentsMember_zbbeaXIgJAb1">quarterly</span> instalments of $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember__srt--StatementScenarioAxis__custom--TenInstallmentsMember_z7101Rs0eu0j">2,400</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_90A_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zOpdgOQLBE2f">LIBOR plus a margin</span> of <span id="xdx_902_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zylopolVan9k">2.75</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_905_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zIt1JnpUbGCh">46,500</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>c)</b></span></td> <td style="vertical-align: top; width: 99%; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt"><b>$12.0 Million Sinopac Capital International Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_901_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zYj8TM0yeOW1">August 27, 2021</span>, the Company via its subsidiary Global Ship Lease 42 LLC entered into a secured credit facility for an amount of $<span id="xdx_90A_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_dd_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zzqBhjP9WU31"><span id="xdx_905_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zELKhDxNAkD5">12,000</span></span> with Sinopac Capital International (HK) Limited (“Sinopac Credit Facility”), <span id="xdx_907_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zfYDWHxuTiIg">partially used to fully refinance the Hayfin Credit Facility.</span> The full amount was drawn down in <span id="xdx_90F_ecustom--DrawnDownDate_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zETj2OKc2jsf">September 2021</span> and the credit facility has a maturity in <span id="xdx_90F_ecustom--LineOfCreditFacilityExpirationDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zx9SBB0ZIDEe" title="Maturity date">September 2026</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The new Facility is repayable in <span id="xdx_905_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_z2OFqaUdEDgk" title="Repayment installments">20</span> equal consecutive <span id="xdx_909_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zQu7pBMyEeJf" title="Line of Credit Facility, Frequency of Payments">quarterly</span> instalments of $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_z51So0X9YHB9" title="Line of Credit Facility, Periodic Payment">420</span> with a final balloon of $<span id="xdx_907_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zPI0JfWMWNFf" title="Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid">3,600</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_906_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zox4F1r9UNQ">LIBOR plus a margin</span> of <span id="xdx_90E_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zRXtIJuvVKvg" title="Loan margin percentage">3.25</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zYNBPvWPhrc4" title="Outstanding amount">9,900</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>12.</b> <b>Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>d)</b></span></td> <td style="width: 99%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$140.0 Million HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility</b></span></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90F_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zWyVgKHQhlug">July 6, 2021</span>, the Company entered into a facility with Credit Agricole Corporate and Investment Bank (“CACIB”), Hamburg Commercial Bank AG (“HCOB”), E.Sun Commercial Bank, Ltd (“ESUN”), CTBC Bank Co. Ltd. (“CTBC”) and Taishin International Bank (“Taishin”) for a total of $<span id="xdx_907_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_dd_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zK0vqSoo8tU1"><span id="xdx_90A_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_z7BsEWfO3HVi">140,000</span></span> <span id="xdx_90A_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zNKGOZDHAbm4">to finance the acquisition of the Twelve Vessels</span>. The full amount was drawdown in <span id="xdx_900_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zeTiAhAIPhl5">July 2021</span> and the credit facility has a maturity in <span id="xdx_906_ecustom--LineOfCreditFacilityExpirationDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zmKtsXeepk0l">July 2026</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Facility is repayable in <span id="xdx_909_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--FirstSixInstallmentsMember_z5p2EBQSY1a7">six</span> equal consecutive <span id="xdx_907_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--FirstSixInstallmentsMember_ztBtvzf0rf2g">quarterly</span> instalments of $<span id="xdx_906_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--FirstSixInstallmentsMember_zDwrQRcQfdyl">8,000</span>, <span id="xdx_90F_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--NextEightInstallmentsMember_zeV7PQcfrKAb">eight</span> equal consecutive <span id="xdx_906_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--NextEightInstallmentsMember_zdMa6yFkvUac">quarterly</span> instalments of $<span id="xdx_906_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--NextEightInstallmentsMember_zzERzLdwOMo3">5,400</span> and <span id="xdx_906_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--LastSixInstallmentsMember_zOYDOgzleOr1">six</span> equal consecutive <span id="xdx_90B_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--LastSixInstallmentsMember_zP94IUbPyfT8">quarterly</span> instalments of $<span id="xdx_909_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember__srt--StatementScenarioAxis__custom--LastSixInstallmentsMember_zlvb5fQu4Xkh">2,200</span> with a final balloon of $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zhG5srwoWw6j">35,600</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_90F_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zZSQCFRxGXXa">LIBOR plus a margin</span> of <span id="xdx_900_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zpy9QFS05Io9">3.25</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_908_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zVVPuiZEl38a">100,000</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>e)</b></span></td> <td style="vertical-align: top; width: 99%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>$51.7 Million Deutsche Bank AG Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_903_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zaZatqaMHQm">May 6, 2021</span>, the Company via its subsidiary Laertis Marine LLC entered into a secured facility for an amount of $<span id="xdx_90E_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zNnWvryNK6zi">51,670</span> with Deutsche Bank AG <span id="xdx_909_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zVw946Oboog9">in order to refinance one of the three previous tranches of the $180,500 Deutsche, CIT, HCOB, Entrust, Blue Ocean Credit Facility, that had a maturity date on June 30, 2022, of an amount $48,527.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The new Facility is repayable in <span id="xdx_903_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zbFC8kkvi8kk">20</span> equal consecutive <span id="xdx_90B_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zaPEOk7tDkj9">quarterly</span> instalments of $<span id="xdx_900_eus-gaap--LineOfCreditFacilityPeriodicPayment_pdn3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zAn6Jaeu3dSh">1,162.45</span> with a final balloon of $<span id="xdx_907_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zZTe45Hwne8l">28,421</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_90C_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_z8TKMlVhShP6">LIBOR plus a margin</span> of <span id="xdx_900_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zIc6uZv6LTXg">3.25</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zo476oY2TCC7">44,695</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>f)</b></span></td> <td style="vertical-align: top; width: 99%; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt"><b>$64.2 Million Hamburg Commercial Bank AG Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90A_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zSK547Wq5s4b">April 15, 2021</span>, the Company entered into a Senior Secured term loan facility with Hamburg Commercial Bank AG “the HCOB Credit Facility” for an amount of up to $<span id="xdx_905_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zfk6AioeukNe">64,200</span> <span id="xdx_902_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zrcRUTbdiqfg">in order to finance the acquisition of six out of the Seven Vessels</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Tranche A, E and F amounting to $<span id="xdx_901_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheAEFMember_z7WTRV4KO2g">32,100</span> were drawn down in <span id="xdx_90F_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheAEFMember_ztCOvGaKPPM1">April 2021</span> and have a maturity date in <span id="xdx_904_ecustom--LineOfCreditFacilityExpirationDate_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheAEFMember_z5fsXpkb9aGg">April 2025</span>, Tranche B and D amounting to $<span id="xdx_901_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheBDMember_zYOxCjWPMvvg">21,400</span> were drawn down in <span id="xdx_903_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheBDMember_z9fPNapM3izf">May 2021</span> and have a maturity date in <span id="xdx_904_ecustom--LineOfCreditFacilityExpirationDate_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheBDMember_z08h3wdPSYke">May 2025</span>, and Tranche C amounting to $<span id="xdx_905_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheCMember_ztlyaFbbo7Qi">10,700</span> was drawn down in <span id="xdx_903_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheCMember_z1PE7mSQxiS2">July 2021</span> and has a maturity date in <span id="xdx_901_ecustom--LineOfCreditFacilityExpirationDate_c20220101__20221231__us-gaap--CreditFacilityAxis__custom--HCOBCreditFacilityIMember__srt--StatementScenarioAxis__custom--TrancheCMember_zJziCts13ydi">July 2025</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Each Tranche of the Facility is repayable in <span id="xdx_903_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--EachTrancheMember_zb56RdHD1dul">16</span> equal consecutive <span id="xdx_906_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--EachTrancheMember_zsQjkkkPUIR9">quarterly</span> instalments of $<span id="xdx_906_eus-gaap--LineOfCreditFacilityPeriodicPayment_pin3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--EachTrancheMember_zezUHmIjeqDb">668.75</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_90E_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_ztYRkc6l4yA6">LIBOR plus a margin</span> of <span id="xdx_90B_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_z3PD3XjNpFle">3.50</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zP7liddD046c">40,794</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>g)</b></span></td> <td style="vertical-align: top; width: 99%; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt"><b>$51.7 Million CACIB, Bank Sinopac, CTBC Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90F_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zlfiMUHGRhC8">April 13, 2021</span>, the Company via its subsidiary Penelope Marine LLC entered into a secured facility for an amount of $<span id="xdx_902_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zMv5rPzI3Gy8">51,700</span> <span id="xdx_90F_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zM7H3TnLEeTj">in order to refinance one of the three previous tranches of the $180,500 Deutsche, CIT, HCOB, Entrust, Blue Ocean Credit Facility, that had a maturity date on June 30, 2022, of an amount $48,648.</span> The secured credit facility has a maturity in <span id="xdx_90C_ecustom--LineOfCreditFacilityExpirationDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zU2TzMRK73ee">April 2026</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Lenders are Credit Agricole Corporate and Investment Bank (“CACIB”), Bank Sinopac Co. Ltd. (“Bank Sinopac”) and CTBC Bank Co. Ltd. (“CTBC”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Facility is repayable in <span id="xdx_90E_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zjuNLBYjU8x2">20</span> equal consecutive <span id="xdx_905_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_z0QsKt58UZAe">quarterly</span> instalments of $<span id="xdx_904_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_z6gJU3eU5GZ">1,275</span> with a final balloon of $<span id="xdx_900_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zXXXZyk9Gkr5">26,200</span> payable together with the final instalment.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>12.</b> <span style="font-size: 10pt"><b>Long-Term Debt (continued)</b> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="padding-top: 6.6pt; text-align: justify; width: 1%"><span style="font-size: 10pt"><b>g)</b></span></td> <td style="padding-top: 6.6pt; text-align: justify; width: 99%"><span style="font-size: 10pt"><b>$51.7 Million CACIB, Bank Sinopac, CTBC Credit Facility (continued)</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_900_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zRxPIgTRmimd">LIBOR plus a margin</span> of <span id="xdx_904_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zEUWl0HVumS2">2.75</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 12pt; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_90A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zzICaWF3FpHb">44,050</span></span><span style="font-size: 10pt">.</span> </p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>h)</b></span></td> <td style="width: 99%"><span style="font-size: 10pt"><b>$236.2 Million Senior secured loan facility with Hayfin Capital Management, LLP</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_902_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_z7Ayz28z5sj1">January 7, 2021</span>, the Company entered into the New Hayfin Credit Facility amounting to $<span id="xdx_90B_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zu7JxtkWW3e4"><span id="xdx_905_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zcKnXehfw7m9">236,200</span></span>, and on <span id="xdx_900_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_z82QEnKHunbd">January 19, 2021</span>, the Company drew down the full amount under this facility. <span id="xdx_906_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zcmiwevJcYFh">The proceeds from the New Hayfin Credit Facility, along with cash on hand, were used to optionally redeem in full the outstanding 2022 Notes on January 20, 2021</span>, see note 12n below. The New Hayfin Credit Facility matures in <span id="xdx_906_ecustom--LineOfCreditFacilityExpirationDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_z0idjxyeMXu5">January 2026</span> and bears interest at a rate of <span id="xdx_903_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zK57QGcZLLpd">LIBOR plus a margin</span> of <span id="xdx_901_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_z0uNQV5cnftd">7.00</span>% per annum. It is repayable in <span id="xdx_901_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zj5xvqeIiKz6">twenty</span> <span id="xdx_904_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zantTo6xuET1">quarterly</span> instalments of $<span id="xdx_90C_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_z0rVzJ5wLcol">6,560</span>, along with a balloon payment at maturity. <span id="xdx_902_eus-gaap--LineOfCreditFacilityCollateral_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_z4gK293KWJN">The New Hayfin Credit Facility is secured by, among other things, first priority ship mortgages over 21 of the Company’s vessels, assignments of earnings and insurances of the mortgaged vessels, pledges over certain bank accounts, as well as share pledges over the equity interests of each mortgaged vessel-owning subsidiary.</span> On June 30, 2021, due to the sale of La Tour, the Company additionally repaid $<span id="xdx_902_eus-gaap--RepaymentsOfDebt_pn3n3_c20210101__20210630__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zMGLRzpiLOrd">5,831</span>, and the vessel was released as collateral under the Company’s New Hayfin Credit Facility. On June 16, 2022, the Company used a portion of the proceeds from the private placement for the full prepayment of the remaining outstanding balance $<span id="xdx_901_eus-gaap--RepaymentsOfDebt_pn3n3_c20220101__20220616__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zZH9NyjD7pg6">197,569</span> plus a prepayment fee of $<span id="xdx_90F_ecustom--FeesOnRepaymentsOfDebt_pn3n3_c20220101__20220616__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zRenOHRo5jsb">11,229</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $nil. <span id="xdx_908_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_z9UVxn88HRY4" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="display: none"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>i)</b></span></td> <td style="width: 99%"><span style="font-size: 10pt"><b>$9.0 Million Chailease Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_906_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zWYhAHNOugca">February 26, 2020</span>, the Company via its subsidiaries, Athena Marine LLC, Aphrodite Marine LLC and Aris Marine LLC entered into a secured term facility agreement with Chailease International Financial Services Pte., Ltd. for an amount of $<span id="xdx_90C_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zHlFi7Qnh6Ba">9,000</span>. The Chailease Bank Facility was used <span id="xdx_90B_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zDvhrXhvNkY8">for the refinance of DVB Credit Facility</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Facility is repayable in 36 consecutive <span id="xdx_902_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--ThirtysixInstallmentsMember_zbyZzSYU7nzi">monthly</span> instalments $<span id="xdx_902_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--ThirtysixInstallmentsMember_zzAtra8YKKHa">156</span> and 24 <span id="xdx_900_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--TwentyFourInstallmentsMember_zWKmKeCLh3t9">monthly</span> instalments of $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember__srt--StatementScenarioAxis__custom--TwentyFourInstallmentsMember_z6MdkvGX0Ipf">86</span> with a final balloon of $<span id="xdx_901_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zDOxs5SPey9l">1,314</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_90F_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zMoJiW3pv3O8">LIBOR plus a margin</span> of <span id="xdx_908_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zrvwMTfyK0De">4.20</span>% per annum.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_904_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityIMember_zJbrhJAoSXrb">3,852</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>j)</b></span></td> <td style="width: 99%"><span style="font-size: 10pt"><b>Redemption of 8.00% Senior Unsecured Notes due 2024 </b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On November 19, 2019, the Company completed the sale of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20191119__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_z7H4HoYQVcJh">27,500</span> aggregate principal amount of its <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20221231__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_zrNbDk2rjyXb">8.00</span>% Senior Unsecured Notes (the “2024 Notes”) which matured on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_dd_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_zTpVqseUIS69">December 31, 2024</span>. On November 27, 2019, the Company sold an additional $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20191127__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_zrXKlrpUr1Ue">4,125</span> of 2024 Notes, pursuant the underwriter’s option to purchase such additional 2024 Notes. Interest on the 2024 Notes was payable on the last day of February, May, August and November of each year commencing on <span id="xdx_90A_eus-gaap--DebtInstrumentDateOfFirstRequiredPayment1_dd_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_zPskK2J4xKpj">February 29, 2020</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company had the option to redeem the 2024 Notes for cash, in whole or in part, at any time (i) on or after December 31, 2021 and prior to December 31, 2022, at a price equal to <span id="xdx_909_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_uPure_c20220101__20221231__srt--StatementScenarioAxis__custom--OnorafterDecember312021andpriortoDecember312022Member__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_zZnmlUMdUmQ5">102</span>% of the principal amount, (ii) on or after December 31, 2022 and prior to December 31, 2023, at a price equal to <span id="xdx_909_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_uPure_c20220101__20221231__srt--StatementScenarioAxis__custom--OnorafterDecember312022andpriortoDecember312023Member__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_z8YBzejaIWOc">101</span>% of the principal amount and (iii) on or after December 31, 2023 and prior to maturity, at a price equal to <span id="xdx_903_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_uPure_c20220101__20221231__srt--StatementScenarioAxis__custom--OnorafterDecember312023andpriortomaturityMember__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_zMxWX1JqXyq5">100</span>% of the principal amount.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On November 27, 2019, the Company entered into an “At Market Issuance Sales Agreement” with B. Riley FBR, Inc. (the “Agent”) under which and in accordance with the Company’s instructions, the Agent could offer and sell from time to time newly issued 2024 Notes.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In July 2021, the Company agreed to purchase the Twelve Vessels for an aggregate purchase price of $<span id="xdx_908_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_pn3n3_c20210101__20210731__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsIMember_zMsxRgWLI8ee" title="Payments for advances">233,890</span>, part of which was financed by the issuance of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfRedeemablePreferredStock_pn3n3_c20210101__20210731__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--TwelveVesselsIMember_zoB1z5xerLsb" title="Net proceeds from issuance">35,000</span> 2024 Notes to the sellers. The remaining purchase price was financed by cash on hand and a new syndicated credit facility for a total of $<span id="xdx_90A_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zjwoX8RCR361">140,000</span> (see note 12d).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>12.<span style="font-size: 10pt">Long-Term Debt (continued)</span></b><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>j)</b></span></td> <td style="width: 99%"><span style="font-size: 10pt"><b>Redemption of 8.00% Senior Unsecured Notes due 2024 (continued)</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On April 5, 2022 the Company completed the partial redemption of $<span id="xdx_90F_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iI_pn3n3_c20220405__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member__srt--StatementScenarioAxis__custom--RedeemedNotesMember_zaZqSsExJAV8">28,500</span> aggregate principal amount of the Notes (the “Redeemed Notes”) at a redemption price equal to <span id="xdx_90B_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_uPure_c20220101__20220405__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member__srt--StatementScenarioAxis__custom--RedeemedNotesMember_zniOfpAUQ4al">102.00</span>% of the principal amount thereof plus accrued and unpaid interest. Upon completion of the redemption the outstanding aggregate principal amount of the 2024 Notes was $<span id="xdx_905_eus-gaap--NotesPayableFairValueDisclosure_iI_pn3n3_c20220405__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_zFXyrUwzvjHf">89,020</span>. On July 15, 2022, the 2024 Notes were fully repaid by the Company using a portion of the net proceeds from the private placement of $350,000 aggregate principal amount of its 2027 Secured Notes, pursuant to a note purchase agreement, dated June 14, 2022. Total loss on redemption was $<span id="xdx_909_eus-gaap--GainLossOnRepurchaseOfDebtInstrument_pn3n3_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member__srt--StatementScenarioAxis__custom--RedeemedNotesMember_z6Q6YBJNbaN3" title="Loss of partial redemption amount">2,350</span> and is recorded within the Consolidated Statements of Income for the year ended December 31, 2022 in line “Interest and other finance expenses”.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding aggregate principal amount of the 2024 notes was $nil.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_901_eus-gaap--NotesPayableFairValueDisclosure_iI_pn3n3_c20221231__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member_z6eDVdt0UYoc" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="display: none"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="text-align: left; vertical-align: top; width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>k)</b></span></td> <td style="vertical-align: bottom; width: 99%"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>$268.0 Million Syndicated Senior Secured Credit Facility (CACIB, ABN, First-Citizens &amp; Trust Company, Siemens, CTBC, Bank Sinopac, Palatine)</b></span></p></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90B_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zB71KDxyXXBc">September 19, 2019</span>, the Company entered into a Syndicated Senior Secured Credit Facility <span id="xdx_901_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zmuQsbR9IUF1">in order to refinance existing credit facilities that had a maturity date in December 2020, of an amount $224,310.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Senior Syndicated Secured Credit Facility was agreed to be borrowed in <span id="xdx_902_ecustom--NumberLoanTranches_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zgnchI84b3xa">two</span> tranches. The Lenders are Credit Agricole Corporate and Investment Bank (“CACIB”), ABN Amro Bank N.V. (“ABN”), First-Citizens &amp; Trust Company, Siemens Financial Services, Inc (“Siemens”), CTBC Bank Co. Ltd. (“CTBC”), Bank Sinopac Ltd. (“Bank Sinopac”) and Banque Palatine (“Palatine”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Tranche A amounting to $<span id="xdx_90C_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zOOyilvJz0E6">230,000</span> was drawn down in full on <span id="xdx_900_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zSWcFABDvje8">September 24, 2019</span> and is scheduled to be repaid in <span id="xdx_90F_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zDBH2Ukjp6Wj">20</span> consecutive <span id="xdx_90F_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zUctgBG7Lt52">quarterly</span> instalments of $<span id="xdx_90C_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zzGoxha5nkYi">5,200</span> starting from <span id="xdx_90C_eus-gaap--DebtInstrumentDateOfFirstRequiredPayment1_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zbGlNMf6k30k">December 12, 2019</span> and a balloon payment of $<span id="xdx_90B_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zcZltHEuZqOc">126,000</span> payable on <span id="xdx_906_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember_zXucZ9eNVQi3">September 24, 2024</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Tranche B amounts to $<span id="xdx_90D_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zAEEIVXGUFil">38,000</span> was drawn down in full on <span id="xdx_90C_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zJC3CVpXevj4">February 10, 2020</span> and is scheduled to be repaid in <span id="xdx_90C_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zPFHbFyeVBJ6">20</span> consecutive <span id="xdx_90C_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_z1a6TOFQLYXh">quarterly</span> instalments of $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zO7yaMIAl731">1,000</span> and a balloon payment of $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zRoAsCVVyO55">18,000</span> payable in the termination date on the fifth anniversary from the utilization date of Tranche A, which falls in September 24, 2024. In January 2022, the Company agreed a new senior secured debt facility to refinance its outstanding Syndicated Senior Secured Credit Facility, which extended the maturity date from September 2024 to <span id="xdx_90A_ecustom--LineOfCreditFacilityExpirationDate_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember_zdFp4nNaQVQ3">December 2026</span>, <span id="xdx_909_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zmKiPUoM0rK3">amended certain covenants in the Company’s favor at an unchanged rate of LIBOR + 3.00%. On July 1, 2022, the interest rate is SOFR plus a margin of <span id="xdx_900_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zagL0WiIUPYi">3.00</span>% plus Credit Adjustment Spread (“CAS”) and is payable at each quarter end date</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $<span id="xdx_909_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zAjjU0PJcw5">181,200</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>l)</b></span></td> <td style="width: 99%"><span style="font-size: 10pt"><b>$38.5 Million Blue Ocean Junior Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90B_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zV4NuFMBtXvi">September 19, 2019</span>, the Company entered into a refinancing agreement with Blue Ocean Income Fund LP, Blue Ocean Onshore Fund LP, and Blue Ocean Investments SPC Blue, holders of the outstanding debt of $<span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zJCRniupoh65">38,500</span> relevant to the previous Blue Ocean Credit Facility <span id="xdx_90D_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zXBK8TiBhb67">in order to refinance that existing facility with the only substantive change being to extend maturity at the same date with the Syndicated Senior Secured Credit Facility.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The Company fully drew down the facility on <span id="xdx_900_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zj8BxMvwrAD7">September 23, 2019</span> and it was scheduled to be repaid in a single instalment on the termination date which fell on <span id="xdx_90A_eus-gaap--LineOfCreditFacilityExpirationDate1_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zuvQ5yiQpSdi">September 24, 2024</span>. This facility bears interest at <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zeqfYuNnq9w5">10.00</span>% per annum.</span><span id="xdx_909_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zYPOzp1x1Nfd" style="display: none"> 1</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">During the year ended December 31, 2021, the Company used a portion of the net proceeds from the at-the-market issuance programs to prepay an amount of $<span id="xdx_90B_eus-gaap--RepaymentsOfDebt_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zlyQgNfCcM89">12,295</span> under this facility plus a prepayment fee of $<span id="xdx_901_ecustom--FeesOnRepaymentsOfDebt_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zjxloeqsbev9">1,618</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On January 19, 2022, the Company used a portion of the net proceeds from the new facility agreement entered on December 30, 2021 with E.SUN, MICB, Cathay, Taishin, to fully prepay the amount of $<span id="xdx_906_eus-gaap--RepaymentsOfDebt_pn3n3_c20220101__20220119__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zncQ3GVTlPp2">26,205</span> under this facility, plus a prepayment fee of $<span id="xdx_907_ecustom--FeesOnRepaymentsOfDebt_pn3n3_c20220101__20220119__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zydlDjIho41d">3,968</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $nil.</span> <span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityIMember_zINwdstxckve" style="display: none">0</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>12.</b> <b>Long-Term Debt (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>m)</b></span></td> <td style="width: 99%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>  $59.0 Million Hellenic Bank Credit Facility</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b/></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_901_ecustom--LineOfCreditFacilityInitiationDate3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember_z4ZQHVmXKCY2">May 23, 2019</span>, the Company via its subsidiaries, Global Ship Lease 30, 31 and 32 entered into a facility agreement with Hellenic Bank for an amount up to $<span id="xdx_90C_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember_zJdHmlEenwVf">37,000</span>. Borrowings under the Hellenic Bank Facility were available in tranches and <span id="xdx_903_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember_zUN3aTecTB98">were used in connection with the acquisition of the vessels GSL Eleni, GSL Grania and GSL Kalliopi.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">An initial tranche of $<span id="xdx_90D_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleniMember_zilUqk0h3yWh">13,000</span> was drawn on <span id="xdx_90D_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleniMember_zfX8T6pdU1jb">May 24, 2019</span>, in connection with the acquisition of the GSL Eleni. The Facility is repayable in <span id="xdx_90F_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleniMember_zmRRMfctPDAg">20</span> equal <span id="xdx_908_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleniMember_zsHGJP1WXzs5">quarterly</span> instalments of $<span id="xdx_90A_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleniMember_zS4Mex2zZ2Kl">450</span> each with a final balloon of $<span id="xdx_901_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheAMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLEleniMember_zhqqnVa2zOJg">4,000</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">A second tranche of $<span id="xdx_907_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLGraniaMember_zSMUT9ODved8">12,000</span> was drawn on <span id="xdx_902_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLGraniaMember_zG6myzSFZpJe">September 4, 2019</span>, in connection with the acquisition of GSL Grania. The Facility is repayable in <span id="xdx_900_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLGraniaMember_zsXliIomMSJ3">20</span> equal <span id="xdx_90B_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLGraniaMember_zO0SNbjXeoMi">quarterly</span> instalments of $<span id="xdx_906_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLGraniaMember_z8qGf14x4q3g">400</span> each with a final balloon of $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheBMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLGraniaMember_zIHjwZJSC212">4,000</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The third tranche of $<span id="xdx_90D_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheCMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKalliopiMember_zCCOqKoK7Ik9">12,000</span> was drawn on <span id="xdx_90D_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheCMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKalliopiMember_z7zcElZaZwSk">October 3, 2019</span>, in connection with the acquisition of GSL Kalliopi. The Facility is repayable in <span id="xdx_90E_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheCMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKalliopiMember_zxM6EKb1MxE2">20</span> equal <span id="xdx_90F_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheCMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKalliopiMember_zfalWbyALnd1">quarterly</span> instalments of $<span id="xdx_909_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheCMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKalliopiMember_zq0FALAUrhbe">400</span> each with a final balloon of $<span id="xdx_909_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--TrancheCMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLKalliopiMember_zMa5ex1XqBul">4,000</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_908_ecustom--LineOfCreditFacilityInitiationDate2_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zrzVmPi61iIh">December 10, 2019</span>, the Company via its subsidiaries Global Ship Lease 33 and 34 entered into an amended and restated loan agreement with Hellenic Bank for an additional facility of amount $<span id="xdx_904_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_z5TtaxloYQPc">22,000</span> that is to be borrowed in <span id="xdx_90D_ecustom--NumberLoanTranches_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zbasu9U6pI15">two</span> tranches and <span id="xdx_90C_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zhG2iWRr5Npj">to be used in connection with the acquisition of the vessels GSL Vinia and GSL Christel Elisabeth.</span> Both tranches were drawn on <span id="xdx_90A_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zutbQmmjnlI5">December 10, 2019</span> and are each repayable in <span id="xdx_902_ecustom--LineOfCreditFacilityNumberOfRepaymentInstalment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_ztEYY1hEGkP5">20</span> equal <span id="xdx_904_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zc6f5tbsP12j">quarterly</span> instalments of $<span id="xdx_905_eus-gaap--LineOfCreditFacilityPeriodicPayment_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zWxE5o0ipa5c">375</span> each with a final balloon of $<span id="xdx_905_eus-gaap--DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zEH3cku4XPtj">3,500</span> payable together with the final instalment.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">This facility bears interest at <span id="xdx_90A_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zANw0LDvx9y4">LIBOR plus a margin</span> of <span id="xdx_908_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zxaays37KUal">3.90</span>% per annum.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_908_ecustom--PrepaymentDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zjtmBhVGuD2l">June 24, 2022</span>, the Hellenic Bank credit Facility was fully prepaid by the Company using a portion of the net proceeds from the private placement of $350,000 aggregate principal amount of its 2027 Secured Notes, pursuant to a note purchase agreement, dated June 14, 2022.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this facility was $nil.</span> <span id="xdx_90A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicSeniorSecuredCreditFacilityIMember__us-gaap--CreditFacilityAxis__custom--AmendedandrestatedloanagreementMember_zEoS17pWmb8f" style="display: none">0</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>n)</b></span></td> <td style="width: 99%"><span style="font-size: 10pt"><b>9.875% First Priority Secured Notes due 2022</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_906_eus-gaap--DebtInstrumentIssuanceDate1_dd_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zosQ4m1Qmeu3">October 31, 2017</span>, the Company completed the sale of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20221231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zndzP62vOvEk">360,000</span> in aggregate principal amount of its <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20221231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zxXylxAos6W">9.875</span>% First Priority Secured Notes (the “2022 Notes”) which mature on <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zyioEcYCpv7j">November 15, 2022</span>. Proceeds after the deduction of the original issue discount, but before expenses, amounted to $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_pn3n3_c20170101__20171031__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zgh6UwJPxRe3">356,400</span>. The original issue discount was being amortized on an effective interest rate basis over the life of the 2022 Notes. The 2022 Notes were fully redeemed in January 2021.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_902_eus-gaap--DebtInstrumentFrequencyOfPeriodicPayment_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zMDviu03tbh9">Interest on the 2022 Notes was payable semi-annually on May 15 and November 15 of each year</span>, commencing on <span id="xdx_901_eus-gaap--DebtInstrumentDateOfFirstRequiredPayment1_dd_c20220101__20221231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_ze9a76492pIa">May 15, 2018</span>. As at December 31, 2020 the 2022 Notes were secured by first priority vessel mortgages on <span id="xdx_90A_ecustom--NumberOfVesselsOwned_uPure_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zbCl4W06LD0g" title="Number of vessels secured to notes">16</span> of our vessels at that time and by assignments of earnings and insurances, pledges over certain bank accounts, as well as share pledges over each subsidiary owning a vessel securing the 2022 Notes. In addition, the 2022 Notes were fully and unconditionally guaranteed, jointly and severally, by the Company’s <span id="xdx_906_ecustom--NumberOfVesselsSecuredToNotes_uPure_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zHTzLAxbTati" title="Number of vessels owned">16</span> vessel owning subsidiaries as of December 31, 2020 and Global Ship Lease Services Limited.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On February 10, 2020, the Company completed an optional redemption of $<span id="xdx_901_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iI_pn3n3_c20200210__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zzPKZgttfOG5">46,000</span> aggregate principal amount of its 2022 Notes at a redemption price of $<span id="xdx_904_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pn3n3_c20200210__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_z3KgyBCAvmQ1">48,271</span> (representing <span id="xdx_90C_ecustom--DebtInstrumentRepurchasePricePercentage_dp_uPure_c20200101__20200210__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zsGDFk4n8Jqb">104.938</span>% of the aggregate principal amount) plus accrued and unpaid interest. During the year ended December 31, 2020, the Company purchased $<span id="xdx_901_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iI_pn3n3_c20201231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_z3PgkUl1EkK5">15,287</span> of aggregate principal amount of 2022 Notes in the open market at a weighted average price of <span id="xdx_90F_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_uPure_c20200101__20201231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_z7a5PjM6J5B6">98.98</span>% of the aggregate principal amount.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On January 20, 2021, the Company optionally redeemed, in full, $<span id="xdx_909_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iI_pn3n3_c20210120__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zS9F5WS7Jrfl">233,436</span> aggregate principal amount of 2022 Notes, representing the entire outstanding amount under the 2022 Notes, using the proceeds the Company received from the New Hayfin Credit Facility, see note 12h above, and cash on hand, at a redemption price of $<span id="xdx_90B_eus-gaap--DebtInstrumentRepurchaseAmount_iI_pn3n3_c20210120__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zRotud3h7o1i">239,200</span> (representing <span id="xdx_909_eus-gaap--DebtInstrumentRedemptionPricePercentage_dp_uPure_c20200101__20210120__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zLfqtmOXzws8">102.469</span>% of the aggregate principal amount of notes redeemed) plus accrued and unpaid interest. Total loss on extinguishment of the bonds was $<span id="xdx_90E_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn3n3_c20210101__20211231__us-gaap--DebtInstrumentAxis__custom--NinePointEightSevenFivePercentFirstPrioritySecuredNotesDue2022Member_zK5GVmVD55R">10,642</span> and is recorded within the Consolidated Statements of Income for the year ended December 31, 2021 as interest and other finance expenses.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b>12. <span style="font-size: 10pt">Long-Term Debt (continued)</span></b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b><span style="font-size: 10pt"> </span></b></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>o)</b></span></td> <td style="width: 99%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>$120.0 Million Sale and Leaseback agreements - CMBFL Four Vessels</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b><span style="font-size: 10pt"/></b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b> </b></span> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90D_eus-gaap--SaleLeasebackTransactionDate_dd_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zDPr7ulj01re" title="Sale Leaseback Transaction, Date">August 26, 2021</span>, the Company via its subsidiaries Global Ship Lease 68 LLC, Global Ship Lease 69 LLC, Global Ship Lease 70 LLC and Global Ship Lease 71 LLC, entered into <span id="xdx_909_ecustom--NumberOfRepaymentInstallment_dc_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zEzzEa0GzQf9">four</span> $<span id="xdx_90F_ecustom--FinanceLeaseLiability1_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_z8pHrZJzvysb">30,000</span> sale and leaseback agreements with CMB Financial Leasing Co. Ltd. (“CMBFL”) <span id="xdx_90D_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zV0uUAhdHVce">to finance the acquisition of the Four Vessels</span>. As at <span id="xdx_902_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zCJYxuSbU3vj">September 30, 2021</span>, the Company had drawdown a total of $<span id="xdx_905_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zBmSS425ZJY1">90,000</span>. The drawdown for the fourth vessel, amounting to $<span id="xdx_90C_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivities1_pn3n3_c20210101__20211013__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zMQTsVlOTG8c">30,000</span>, took place on October 13, 2021 together with the delivery of this vessel. The Company has a purchase obligation to acquire the Four Vessels at the end of their lease terms and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessels from its balance sheet and accounted for the amounts received under the sale and leaseback agreement as financial liabilities.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Each sale and leaseback agreement is repayable in <span id="xdx_902_ecustom--NumberOfRepaymentInstallment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--CreditFacilityAxis__custom--FirstTwelveQuarterlyInstallmentsMember_zlsxQztmpA1c">12</span> equal consecutive <span id="xdx_90F_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--CreditFacilityAxis__custom--FirstTwelveQuarterlyInstallmentsMember_zIkX3mU3baH4">quarterly</span> instalments of $<span id="xdx_90F_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--CreditFacilityAxis__custom--FirstTwelveQuarterlyInstallmentsMember_zsj53HqnyfQ3">1,587.5</span> and <span id="xdx_904_ecustom--NumberOfRepaymentInstallment_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--CreditFacilityAxis__custom--NextTwelveQuarterlyInstallmentsMember_zTdEjkHXIXh3">12</span> equal consecutive <span id="xdx_906_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--CreditFacilityAxis__custom--NextTwelveQuarterlyInstallmentsMember_zoL6KmYUUAjk">quarterly</span> instalments of $<span id="xdx_905_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember__us-gaap--CreditFacilityAxis__custom--NextTwelveQuarterlyInstallmentsMember_zk5ut6eEsXV3">329.2</span> with a repurchase obligation of $<span id="xdx_903_ecustom--FinanceLeaseLiabilityPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zEn6cVysAGOe">7,000</span> on the final repayment date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The sale and leaseback agreements for the <span id="xdx_904_ecustom--FinanceLeaseLiabilityMaturityDates_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zYXaXtPCW2H5">three vessels mature in September 2027 and for the fourth vessel in October 2027</span> and bear interest at <span id="xdx_908_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zekFymJmQ3Qd">LIBOR plus a margin</span></span> <span style="font-size: 10pt">of <span id="xdx_903_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zpv4VfkgadM1">3.25</span></span><span style="font-size: 10pt">% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of these sale and lease back agreements was $<span id="xdx_907_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zFIssESBPMP6">89,838</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>p)</b></span></td> <td style="width: 99%"><span style="font-size: 10pt"><b>$54.0 Million Sale and Leaseback agreement - CMBFL</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_902_eus-gaap--SaleLeasebackTransactionDate_dd_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_z8AXZSqNKZth">May 20, 2021</span>, the Company via its subsidiary Telemachus Marine LLC entered into a $<span id="xdx_901_ecustom--FinanceLeaseLiability1_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zEwDS636qj5j">54,000</span> sale and leaseback agreement with CMB Financial Leasing Co. Ltd. (“CMBFL”) <span id="xdx_902_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zurhdInhFZGc">to refinance one of the three previous tranches of the $180,500 Deutsche, CIT, HCOB, Entrust, Blue Ocean Credit Facility, that had a maturity date on June 30, 2022, of an amount $46,624.</span> The Company has a purchase obligation to acquire the vessel at the end of the lease term and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessel from its balance sheet and accounted for the amount received under the sale and leaseback agreement as a financial liability.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The sale and leaseback agreement will be repayable in <span id="xdx_901_ecustom--NumberOfRepaymentInstallment_dc_uPure_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--EightInstalmentsMember_zVT2z1og4Mmf">eight</span> equal consecutive <span id="xdx_900_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--EightInstalmentsMember_zkMZKKIbjXpj">quarterly</span> instalments of $<span id="xdx_901_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pn3n3_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--EightInstalmentsMember_zLqgtNdufoIk">2,025</span> each and <span id="xdx_90F_ecustom--NumberOfRepaymentInstallment_dc_uPure_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--TwentyInstalmentsMember_zcHBHZ2cHaK4">20</span> equal consecutive <span id="xdx_90C_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--TwentyInstalmentsMember_z22Z8rdxoBHi">quarterly</span> instalments of $<span id="xdx_909_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pn3n3_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember__srt--StatementScenarioAxis__custom--TwentyInstalmentsMember_z2miGz7tIOHb">891</span> with a repurchase obligation of $<span id="xdx_907_ecustom--FinanceLeaseLiabilityPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zoByDTU7S6Cd">19,980</span> on the final repayment date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The sale and leaseback agreement matures in <span id="xdx_909_ecustom--FinanceLeaseLiabilityMaturityDates_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zXapD0Rn4LFc">May 2028</span> and bears interest at <span id="xdx_90B_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zSEJUwaQEro">LIBOR plus a margin</span> of <span id="xdx_906_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zrSBn97WmQ37">3.25</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">In <span id="xdx_90D_ecustom--DrawnDownDate_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_znrd4jowWpQ9">May 2021</span>, on the actual delivery date of the vessel, the Company drew $<span id="xdx_90C_eus-gaap--ProceedsFromLinesOfCredit_pn3n3_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_z9h4naQEpg8c">54,000</span>, which represented vessel purchase price $<span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentAdditions_pn3n3_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zZ2bY10SNztg" title="Property, Plant and Equipment, Additions">75,000</span> less advanced hire of $<span id="xdx_903_ecustom--AdvanceHire_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zn29gUEW42ac" title="Advance hire">21,000</span>, which advanced hire neither bore any interest nor was refundable and was set off against payment of the purchase price payable to the Company by the unrelated third party under this agreement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this sale and leaseback agreement was $<span id="xdx_906_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zOZERQxraH1b">41,850</span>.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>q)</b></span></td> <td style="width: 99%; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt"><b>$14.7 Million Sale and Leaseback agreement - Neptune Maritime Leasing</b></span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On <span id="xdx_90F_eus-gaap--SaleLeasebackTransactionDate_dd_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zWh6eO72Ztbf">May 12, 2021</span>, the Company via its subsidiary GSL Violetta LLC entered into a $<span id="xdx_909_ecustom--FinanceLeaseLiability1_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zLg8riuDvC57">14,735</span> sale and leaseback agreement with Neptune Maritime Leasing (“Neptune”) <span id="xdx_902_ecustom--CreditFacilityDescriptionOfScope_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_z6lPsubEtRuk">to finance the acquisition of GSL Violetta delivered in April 2021</span>. The Company has a purchase obligation to acquire the vessel at the end of the lease term and under ASC 842-40, the transaction has been accounted for as a failed sale. In accordance with ASC 842-40, the Company did not derecognize the respective vessel from its balance sheet and accounted for the amount received under the sale and leaseback agreement as a financial liability. In May 2021, the Company drew $<span id="xdx_909_ecustom--SaleLeasebackTransactionNetProceedsFinancingActivitiesI_pn3n3_c20210101__20210531__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zgMCmOIZP7ik">14,735</span> under this agreement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The sale and leaseback agreement will be repayable in <span id="xdx_903_ecustom--NumberOfRepaymentInstallment_dc_uPure_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FifteenInstalmentsMember_zV8nrcSGuKt9">15</span> equal consecutive <span id="xdx_90C_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FifteenInstalmentsMember_zHMYuQtfrT05">quarterly</span> instalments of $<span id="xdx_900_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FifteenInstalmentsMember_zWcwLndntofh">793.87</span> each and <span id="xdx_907_ecustom--NumberOfRepaymentInstallment_dc_uPure_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FourInstalmentsMember_zncN1g7t7Z11">four</span> equal consecutive <span id="xdx_900_eus-gaap--LineOfCreditFacilityFrequencyOfPayments_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FourInstalmentsMember_zZn814cDKbf8">quarterly</span> instalments of $<span id="xdx_905_ecustom--SaleLeasebackTransactionQuarterlyRentalPayments1_pin3_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember__srt--StatementScenarioAxis__custom--FourInstalmentsMember_zTALi1hE8Bn">469.12</span> with a repurchase obligation of $<span id="xdx_90D_ecustom--FinanceLeaseLiabilityPeriodicPaymentTermsBalloonPaymentToBePaid_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_z8sfOHcEulSi">950</span> on the last repayment date.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The sale and leaseback agreement matures in <span id="xdx_90D_ecustom--FinanceLeaseLiabilityMaturityDates_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zh7Q9P41cGR1">February 2026</span> and bears interest at <span id="xdx_902_eus-gaap--LineOfCreditFacilityInterestRateDescription_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_z9ElGjxutTw9">LIBOR plus a margin</span> of <span id="xdx_906_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_dp_uPure_c20220101__20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_znOTrUtcdgq2">4.64</span>% per annum payable quarterly in arrears.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the outstanding balance of this sale and leaseback agreement was $<span id="xdx_90F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_zAJsXF4wEHZ1">9,971</span>.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>12. Long-Term Debt (continued)</b></span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: left"> <td style="width: 1%">r)</td> <td style="width: 99%"><span style="font-size: 10pt"><b>Repayment Schedule</b></span></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-size: 10pt">Maturities of long-term debt for the years subsequent to December 31, 2022 are as follows:</span></p> <p id="xdx_892_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zyj7kDVpsjqj" style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B0_z0LHGsmVbUX3" style="display: none">Long-Term Debt - Repayment Schedule (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"> </td> <td id="xdx_497_20221231_zQw3fpRAELSc" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Payment due by year ended</b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_iI_pn3n3_maTlongtermdebt_z1gGmCfmsXsa" style="vertical-align: bottom; background-color: #CCECFF"> <td style="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2023</span></td> <td style="text-align: left; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">189,832</span></td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo_iI_pn3n3_maTlongtermdebt_zWbfZAmY8Dsc" style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2024</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">169,679</span></td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree_iI_pn3n3_maTlongtermdebt_zGG8ecO2V1tg" style="vertical-align: bottom; background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2025</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">128,828</span></td></tr> <tr id="xdx_405_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour_iI_pn3n3_maTlongtermdebt_zGTiWO9SZ7xh" style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2026</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">276,706</span></td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive_iI_pn3n3_maTlongtermdebt_zYCmroEYbyta" style="vertical-align: bottom; background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2027</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">162,718</span></td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pn3n3_maTlongtermdebt_zgp9iMinaEha" style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2028 and thereafter</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">21,762</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98E_eus-gaap--LongTermDebt_iTI_pn3n3_mtTlongtermdebt_c20221231_zgaCpdfX18Fa" style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total"><span style="font-size: 10pt"><b>949,525</b></span></td></tr> </table> <p id="xdx_8AC_zkiWomjHYse" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 1%; padding-top: 6.6pt"><span style="font-size: 10pt"><b>s)</b></span></td> <td style="width: 99%; padding-top: 9.9pt; text-align: justify"><span style="font-size: 10pt"><b>Deferred Financing Costs</b></span></td></tr> </table> <p id="xdx_89A_ecustom--ScheduleOfDeferredFinancingCostsTableTextBlock_z7ZOYBbtHQdb" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/><span id="xdx_8B4_z2F4soi39xmd" style="display: none">Long-Term Debt - Schedule of Deferred Financing Costs (Table)</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: left; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49F_20220101__20221231_zG8f0CvtLbcf" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td style="text-align: left; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"/> <td id="xdx_495_20210101__20211231_z5rS2kjJvXX5" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b>December 31, </b></span><b>2022</b></p></td> <td><b> </b></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iS_pn3n3_zMpZ3BiaaZ0a" style="background-color: #CCECFF"> <td style="vertical-align: top; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">16,714</span></td> <td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">11,203</span></td></tr> <tr id="xdx_401_ecustom--AdditionalDeferredFinancingCosts_pn3n3_zzZMVr78qQ85" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Expenditure in the period</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">9,655</span></td> <td> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">13,790</span></td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pn3n3_z3DvXIU7aCua" style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Amortization included within interest expense</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">(11,233)</span></td> <td> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">(8,279)</span></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iE_pn3n3_ztrh10FPKOBg" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Closing balance</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>15,136</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>16,714</b></span></td></tr> </table> <p id="xdx_8A5_ztsy9Zocwglk" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">During 2022, total costs amounting to $<span id="xdx_90A_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIMember_zjtkX3d0Q9M7" title="Fees and related costs deferred">1,066</span> were incurred in connection with the Syndicated Senior Secured Credit facility (see note 12k), $<span id="xdx_90F_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20220101__20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zZmuaPe54059" title="Fees and related costs deferred">1,180</span> in connection with E.SUN, MICB, Cathay, Taishin credit facility (see note 12b) and $<span id="xdx_909_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20220101__20221231__us-gaap--LongtermDebtTypeAxis__custom--SeniorSecuredNotes2027Member_zniPCFlu2zR" title="Fees and related costs deferred">7,409</span> in connection with the 2027 Secured Notes.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">During 2021, total costs amounting $<span id="xdx_90C_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--DebtInstrumentAxis__custom--EightPointZeroZeroPercentSeniorUnsecuredNotesDue2024Member__us-gaap--LineOfCreditFacilityAxis__custom--AtMarketIssuanceSalesAgreementMember_zObLjKhVdkg5" title="Fees and related costs deferred">434</span> were incurred in connection with the “At Market Issuance Sales Agreement” of 2024 Notes (see note 12j). In addition, total costs amounting $<span id="xdx_902_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--HayfinCapitalManagementIMember_zHHVwGp60zd4" title="Fees and related costs deferred">4,049</span> were incurred in connection with the New Hayfin Credit Facility (see note 12h), $<span id="xdx_909_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityIMember_zn3Q2xcVH0V9" title="Fees and related costs deferred">777</span> in connection with the Deutsche Credit Facility (see note 12e), $<span id="xdx_902_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityIMember_zH8BWD0XoEDj" title="Fees and related costs deferred">1,386</span> in connection with the HCOB Credit Facility (see note 12f), $<span id="xdx_907_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionNeptuneMaritimeMember_z7L9mPB18qwd" title="Fees and related costs deferred">191</span> in connection with the Neptune sale and leaseback agreement (see note 12q), $<span id="xdx_90C_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityIMember_zpPcTtqgbz2a" title="Fees and related costs deferred">984</span> in connection with the CACIB, Bank Sinopac, CTBC Credit Facility (see note 12g), $<span id="xdx_905_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransactionCMBFLIMember_zRwiVhvCFbXd" title="Fees and related costs deferred">945</span> in connection with the CMBFL sale and lease back agreement (see note 12p), $<span id="xdx_90B_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityIMember_zwlpMaPEMUg2" title="Fees and related costs deferred">252</span> in connection with the Sinopac Credit Facility (see note 12c), $<span id="xdx_909_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBHCOBESUNCTBCTaishinMember_zwMhlw2Fo3Gh" title="Fees and related costs deferred">2,852</span> in connection with the HCOB, CACIB Credit Facility (see note 12d) for financing the acquisition of the Twelve Vessels and $<span id="xdx_90F_ecustom--AdditionalDeferredFinancingCosts_pn3n3_c20210101__20211231__us-gaap--LineOfCreditFacilityAxis__custom--SaleLeasebackAgreementsCMBFLMember_zZtbXSwthzwc" title="Fees and related costs deferred">1,920</span> in connection with the Sale and Leaseback agreements with CMBFL for the Four Vessels (see note 12o) that were drawn down during the year ended December 31, 2021.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">For the years ended December 31, 2022, 2021 and 2020, the Company recognized a total of $<span id="xdx_904_eus-gaap--AmortizationOfFinancingCosts_pn3n3_c20220101__20221231_znffLiBhuSLk">11,233</span></span><span style="font-size: 10pt">, $<span id="xdx_90C_eus-gaap--AmortizationOfFinancingCosts_pn3n3_c20210101__20211231_zfYBiSJ3CgN4">8,279</span> and $<span id="xdx_903_eus-gaap--AmortizationOfFinancingCosts_pn3n3_c20200101__20201231_znm3Vecw3Q83">4,085</span>, respectively, in respect of amortization of deferred financing costs.</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="vertical-align: bottom; width: 1%; padding-top: 6.6pt; text-align: left; text-indent: 2.9pt"><span style="font-size: 10pt"><b>t)</b></span></td> <td style="text-align: left; width: 99%; vertical-align: bottom"><p style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Debt covenants-securities</b></span></p></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span><span id="xdx_90C_eus-gaap--DebtInstrumentCovenantDescription_c20220101__20221231_z3Eb7thBzIK4">Amounts drawn under the facilities listed above are secured by first priority mortgages on certain of the Company’s vessels and other collateral. The credit facilities contain a number of restrictive covenants that limit the Company from, among other things: incurring or guaranteeing indebtedness; charging, pledging or encumbering the vessels; and changing the flag, class, management or ownership of the vessel owning entities. The credit facilities also require the vessels to comply with the ISM Code and ISPS Code and to maintain valid safety management certificates and documents of compliance at all times. Additionally, specific credit facilities require compliance with a number of financial covenants including asset cover ratios and minimum liquidity and corporate guarantor requirements. Among other events, it will be an event of default under the credit facilities if the financial covenants are not complied with or remedied.</span></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_908_eus-gaap--DebtInstrumentCovenantCompliance_c20220101__20221231_zhOXwqslMdW5">As of December 31, 2022, and December 31, 2021, the Company was in compliance with its debt covenants.</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_898_eus-gaap--ScheduleOfDebtInstrumentsTextBlock_z5NqbePh2D0j" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B8_zRGZ5AO8yvp" style="display: none">Long-Term Debt - Schedule of Long - Term Debt (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Facilities</span></b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; text-align: right; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></p></td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><p style="margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">2027 Secured Notes (a)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$ </span></td> <td id="xdx_985_eus-gaap--SeniorNotes_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zjwcNVl0SF43" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">336,875</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">$</span> </td> <td id="xdx_985_eus-gaap--SeniorNotes_iI_pn3n3_d0_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--SeniorSecuredNotes2027Member_zNDWGLO7rOS1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">—</span></td></tr> <tr> <td style="vertical-align: bottom; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">E.SUN, MICB, Cathay, Taishin Credit Facility (b)</span></td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zDSpvRz2BRH5" style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">46,500</span></td> <td style="width: 1%"> </td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--E.SUNMICBCathayTaishinMember_zDWjwrTDR5Ul" style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">—</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sinopac Credit Facility (c)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityMember_z2l5v4LPdB1a" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">9,900</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--SinopacCreditFacilityMember_z7l4OkvXlJM1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">11,580</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">HCOB, CACIB, ESUN, CTBC, Taishin Credit Facility (d)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_z6qjnYccq8G4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Outstanding amount"><span style="font-size: 10pt">100,000</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCACIBESUNCTBCTaishinCreditFacilityMember_zP64zAXSu5G" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">132,000</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Deutsche Credit Facility (e)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_982_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityMember_zcG4hpQRAwKd" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">44,695</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--DeutscheCreditFacilityMember_zjQpOSsLvMr1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">49,345</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">HCOB Credit Facility (f)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityMember_zYNgDJtnmUl7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">40,794</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--HCOBCreditFacilityMember_zNdGrZp88Ax7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">56,844</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">CACIB, Bank Sinopac, CTBC Credit Facility (g)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityMember_zUagkE8lz9ff" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">44,050</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--CACIBBankSinopacCTBCCreditFacilityMember_zjS2wn2NSav2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">49,150</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">New Hayfin Credit Facility (h)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--NewHayfinCreditFacilityMember_z7eOHmenoU2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--NewHayfinCreditFacilityMember_zRIDpStcJ2k9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">204,129</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Chailease Credit Facility (i)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityMember_zKcOBvEDhQ3d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3,852</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--ChaileaseCreditFacilityMember_z8MoNpeuoCf5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">5,568</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">2024 Notes (j)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--NotesPayable_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--TwoThousandTwentyFourNotesMember_zrmAgO5bx4Xk" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">—</td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--NotesPayable_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--TwoThousandTwentyFourNotesMember_zIPGFjuB8Wvd" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">117,520</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Syndicated Senior Secured Credit Facility (CACIB, ABN, First-Citizens &amp; Trust Company, Siemens, CTBC, Bank Sinopac, Palatine) (k)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIMember_zCBQNHp6ss5h" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">181,200</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--SyndicatedSeniorSecuredCreditFacilityIIMember_z9WLMZNWyTW2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">213,200</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Blue Ocean Junior Credit Facility (k, l)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityMember_z15QOqMNDWs" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">—</td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--BlueOceanJuniorCreditFacilityMember_zYe0I8CisLwk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">26,205</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Hellenic Bank Credit Facility (m)</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_d0_c20221231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicBankCreditFacilityMember_z40Muhn9R1jc" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">—</td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_983_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--LineOfCreditFacilityAxis__custom--HellenicBankCreditFacilityMember_zK6m481mnTqh" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">41,700</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Notes"><span style="font-size: 10pt"><b>807,866</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Notes"><span style="font-size: 10pt"><b>907,241</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">2022 Notes (n)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_d0_c20221231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_ziDyM4Kykype" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20211231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zTUKkHGxLUue" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt">233,436</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less redemptions and repurchases (n)</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iNI_di0_c20221231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zThNS4wvBF9i" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less redemptions and repurchases (n)"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--DebtInstrumentRepurchasedFaceAmount_iNI_di0_c20211231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zDtXRBT1D0rd" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less redemptions and repurchases (n)"><span style="font-size: 10pt">(233,436)</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>2022 Notes (n)</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--NotesPayable_iIP3us-gaap--DebtInstrumentRepurchasedFaceAmount_d0_c20221231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zjW3KewFawd1" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_989_eus-gaap--NotesPayable_iI_d0_c20211231__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyTwoNotesMember_zGj15wb1Gaxf" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="2022 Notes (n)"><span style="font-size: 10pt"><b>—</b></span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total credit facilities</b></span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--LongTermDebt_iI_pn3n3_c20221231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zrqcfocC8qwk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>807,866</b></span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_982_eus-gaap--LongTermDebt_iI_pn3n3_c20211231__us-gaap--LongtermDebtTypeAxis__custom--TotalCreditFacilitiesMember_zygM5qDobtA4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>907,241</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sale and Leaseback Agreement CMBFL - $120,000 (o)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_z6ySBCiEzwZ6" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">89,838</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction1Member_zDYYGlbJUcJ1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">115,238</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sale and Leaseback Agreement CMBFL - $54,000 (p)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zhZGF0MbPp76" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">41,850</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction2Member_zJD6tI893JF2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">49,950</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Sale and Leaseback Agreement - Neptune $14,735 (q)</span></td> <td style="border-bottom: Black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20221231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction3Member_zplU5ptoKKsh" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">9,971</span></td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20211231__us-gaap--SaleLeasebackTransactionDescriptionAxis__custom--SaleLeasebackTransaction3Member_zqoUxOMgrnqj" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">13,147</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total Sale and Leaseback Agreements</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_983_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20221231_z8IIDNC3sv4l" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-size: 10pt"><b>141,659</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_eus-gaap--SaleLeasebackTransactionNetBookValue_iI_pn3n3_c20211231_z0r2cgy8Qudb" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total Sale and Leaseback Agreements"><span style="font-size: 10pt"><b>178,335</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total borrowings</b></span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_eus-gaap--LongTermDebt_iI_pn3n3_c20221231_zsYVxyudvUM6" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-size: 10pt"><b>949,525</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98C_eus-gaap--LongTermDebt_iI_pn3n3_c20211231_zjRd7CkyfcT1" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total borrowings"><span style="font-size: 10pt"><b>1,085,576</b></span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Current portion of long-term debt</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20221231__us-gaap--LongtermDebtTypeAxis__us-gaap--LongTermDebtMember_zFPwKakAoQ8g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-size: 10pt">(155,424)</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--LongTermDebtCurrent_iNI_pn3n3_di0_c20211231__us-gaap--LongtermDebtTypeAxis__us-gaap--LongTermDebtMember_z6Nolod45xz5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of long-term debt"><span style="font-size: 10pt">(153,641)</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Current portion of Sale and Leaseback Agreements (o,p,q)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_ecustom--FinanceLeaseLiabilityICurrent_iNI_pn3n3_di_c20221231_zAxjj2Bo4v84" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (o,p,q)"><span style="font-size: 10pt">(34,408)</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_ecustom--FinanceLeaseLiabilityICurrent_iNI_pn3n3_di_c20211231_z8YJ21ELxTu5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Current portion of Sale and Leaseback Agreements (o,p,q)"><span style="font-size: 10pt">(36,675)</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Plus: Original issue premium of 2024 Notes (j)</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_ecustom--LessPlusDeferredFinanceCostsGross_iNI_pn3n3_di0_c20221231_zbsTcuedf5p4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus: Original issue premium of 2024 Notes (j)"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_ecustom--LessPlusDeferredFinanceCostsGross_iNI_pn3n3_di_c20211231_zILe30F0K202" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Plus: Original issue premium of 2024 Notes (j)"><span style="font-size: 10pt">1,588</span></td></tr> <tr style="background-color: #CCECFF"> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Less: Deferred financing costs (s)</span></td> <td style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20221231_z0HZozvBAbh2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (s)"><span style="font-size: 10pt">(15,136)</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--DeferredFinanceCostsNet_iNI_pn3n3_di_c20211231_zcyqkK6LONa6" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Less: Deferred financing costs (s)"><span style="font-size: 10pt">(16,714)</span></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Non-current portion of Long-Term Debt</b></span></td> <td style="border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_985_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_d0_c20221231_z2Nnvvn6Rx31" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-size: 10pt"><b>744,557</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_981_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_d0_c20211231_ziCRrUHZA3B8" style="border-bottom: Black 2pt double; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Non-current portion of Long-Term Debt"><span style="font-size: 10pt"><b>880,134</b></span></td></tr> </table> 336875000 0 46500000 0 9900000 11580000 100000000 132000000 44695000 49345000 40794000 56844000 44050000 49150000 0 204129000 3852000 5568000 0 117520000 181200000 213200000 0 26205000 0 41700000 0 233436000 -0 233436000 0 0 807866000 907241000 89838000 115238000 41850000 49950000 9971000 13147000 141659000 178335000 949525000 1085576000 155424000 153641000 34408000 36675000 -0 -1588000 15136000 16714000 744557000 880134000 2022-06-16 350000000 0.0569 interpolated interest rate of 2.84% plus a margin 2.85% for the repayment of the remaining outstanding balances on its New Hayfin Credit Facility and the Hellenic Bank Credit Facility (releasing five unencumbered vessels), and our 2024 Notes. The remaining amount of net proceeds were allocated for general corporate purposes. An amount equal to 15% per annum of the original principal balance of each Note shall be paid in equal quarterly installments on the 15th day of each of January, April, July, and October starting October 15, 2022, and the remaining unpaid principal balance shall be due and payable on the maturity date of July 15, 2027. 20 336875000 December 30, 2021 The Company using a portion of the net proceeds from this credit facility fully prepaid the outstanding amount of the Blue Ocean Junior Credit facility 26205000 3968000 3 January 2022 8 quarterly 4500000 10 quarterly 2400000 LIBOR plus a margin 0.0275 46500000 August 27, 2021 12000000 12000000 partially used to fully refinance the Hayfin Credit Facility. September 2021 September 2026 20 quarterly 420000 3600000 LIBOR plus a margin 0.0325 9900000 July 6, 2021 140000000 140000000 to finance the acquisition of the Twelve Vessels July 2021 July 2026 6 quarterly 8000000 8 quarterly 5400000 6 quarterly 2200000 35600000 LIBOR plus a margin 0.0325 100000000 May 6, 2021 51670000 in order to refinance one of the three previous tranches of the $180,500 Deutsche, CIT, HCOB, Entrust, Blue Ocean Credit Facility, that had a maturity date on June 30, 2022, of an amount $48,527. 20 quarterly 1162450 28421000 LIBOR plus a margin 0.0325 44695000 April 15, 2021 64200000 in order to finance the acquisition of six out of the Seven Vessels 32100000 April 2021 April 2025 21400000 May 2021 May 2025 10700000 July 2021 July 2025 16 quarterly 668750 LIBOR plus a margin 0.0350 40794000 April 13, 2021 51700000 in order to refinance one of the three previous tranches of the $180,500 Deutsche, CIT, HCOB, Entrust, Blue Ocean Credit Facility, that had a maturity date on June 30, 2022, of an amount $48,648. April 2026 20 quarterly 1275000 26200000 LIBOR plus a margin 0.0275 44050000 January 7, 2021 236200000 236200000 January 19, 2021 The proceeds from the New Hayfin Credit Facility, along with cash on hand, were used to optionally redeem in full the outstanding 2022 Notes on January 20, 2021 January 2026 LIBOR plus a margin 0.0700 20 quarterly 6560000 The New Hayfin Credit Facility is secured by, among other things, first priority ship mortgages over 21 of the Company’s vessels, assignments of earnings and insurances of the mortgaged vessels, pledges over certain bank accounts, as well as share pledges over the equity interests of each mortgaged vessel-owning subsidiary. 5831000 197569000 11229000 0 February 26, 2020 9000000 for the refinance of DVB Credit Facility monthly 156000 monthly 86000 1314000 LIBOR plus a margin 0.0420 3852000 27500000 0.0800 2024-12-31 4125000 2020-02-29 1.02 1.01 1 233890000 35000000 140000000 28500000 1.0200 89020000 2350000 0 September 19, 2019 in order to refinance existing credit facilities that had a maturity date in December 2020, of an amount $224,310. 2 230000000 September 24, 2019 20 quarterly 5200000 2019-12-12 126000000 2024-09-24 38000000 February 10, 2020 20 quarterly 1000000 18000000 December 2026 amended certain covenants in the Company’s favor at an unchanged rate of LIBOR + 3.00%. On July 1, 2022, the interest rate is SOFR plus a margin of 3.00% plus Credit Adjustment Spread (“CAS”) and is payable at each quarter end date 0.0300 181200000 September 19, 2019 38500000 in order to refinance that existing facility with the only substantive change being to extend maturity at the same date with the Syndicated Senior Secured Credit Facility. September 23, 2019 2024-09-24 0.1000 1 12295000 1618000 26205000 3968000 0 May 23, 2019 37000000 were used in connection with the acquisition of the vessels GSL Eleni, GSL Grania and GSL Kalliopi. 13000000 May 24, 2019 20 quarterly 450000 4000000 12000000 September 4, 2019 20 quarterly 400000 4000000 12000000 October 3, 2019 20 quarterly 400000 4000000 2019-12-10 22000000 2 to be used in connection with the acquisition of the vessels GSL Vinia and GSL Christel Elisabeth. December 10, 2019 20 quarterly 375000 3500000 LIBOR plus a margin 0.0390 June 24, 2022 0 2017-10-31 360000000 0.09875 2022-11-15 356400000 Interest on the 2022 Notes was payable semi-annually on May 15 and November 15 of each year 2018-05-15 16 16 46000000 48271000 1.04938 15287000 0.9898 233436000 239200000 1.02469 10642000 August 26, 2021 4 30000000 to finance the acquisition of the Four Vessels September 30, 2021 90000000 30000000 12 quarterly 1587500 12 quarterly 329200 7000000 three vessels mature in September 2027 and for the fourth vessel in October 2027 LIBOR plus a margin 0.0325 89838000 May 20, 2021 54000000 to refinance one of the three previous tranches of the $180,500 Deutsche, CIT, HCOB, Entrust, Blue Ocean Credit Facility, that had a maturity date on June 30, 2022, of an amount $46,624. 8 quarterly 2025000 20 quarterly 891000 19980000 May 2028 LIBOR plus a margin 0.0325 May 2021 54000000 75000000 21000000 41850000 May 12, 2021 14735000 to finance the acquisition of GSL Violetta delivered in April 2021 14735000 15 quarterly 793870 4 quarterly 469120 950000 February 2026 LIBOR plus a margin 0.0464 9971000 <p id="xdx_892_eus-gaap--ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_zyj7kDVpsjqj" style="font: 9pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B0_z0LHGsmVbUX3" style="display: none">Long-Term Debt - Repayment Schedule (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"> </td> <td id="xdx_497_20221231_zQw3fpRAELSc" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Payment due by year ended</b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_409_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths_iI_pn3n3_maTlongtermdebt_z1gGmCfmsXsa" style="vertical-align: bottom; background-color: #CCECFF"> <td style="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2023</span></td> <td style="text-align: left; width: 2%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">189,832</span></td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo_iI_pn3n3_maTlongtermdebt_zWbfZAmY8Dsc" style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2024</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">169,679</span></td></tr> <tr id="xdx_40B_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree_iI_pn3n3_maTlongtermdebt_zGG8ecO2V1tg" style="vertical-align: bottom; background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2025</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">128,828</span></td></tr> <tr id="xdx_405_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour_iI_pn3n3_maTlongtermdebt_zGTiWO9SZ7xh" style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2026</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">276,706</span></td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive_iI_pn3n3_maTlongtermdebt_zYCmroEYbyta" style="vertical-align: bottom; background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2027</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">162,718</span></td></tr> <tr id="xdx_401_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_iI_pn3n3_maTlongtermdebt_zgp9iMinaEha" style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2028 and thereafter</span></td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">21,762</span></td></tr> <tr style="vertical-align: bottom; background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98E_eus-gaap--LongTermDebt_iTI_pn3n3_mtTlongtermdebt_c20221231_zgaCpdfX18Fa" style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total"><span style="font-size: 10pt"><b>949,525</b></span></td></tr> </table> 189832000 169679000 128828000 276706000 162718000 21762000 949525000 <p id="xdx_89A_ecustom--ScheduleOfDeferredFinancingCostsTableTextBlock_z7ZOYBbtHQdb" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"/><span id="xdx_8B4_z2F4soi39xmd" style="display: none">Long-Term Debt - Schedule of Deferred Financing Costs (Table)</span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: left; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49F_20220101__20221231_zG8f0CvtLbcf" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td style="text-align: left; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"/> <td id="xdx_495_20210101__20211231_z5rS2kjJvXX5" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b>December 31, </b></span><b>2022</b></p></td> <td><b> </b></td> <td colspan="2" style="border-bottom: Black 0.5pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b>December 31, 2021</b></span></p></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iS_pn3n3_zMpZ3BiaaZ0a" style="background-color: #CCECFF"> <td style="vertical-align: top; width: 77%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Opening balance</span></td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">16,714</span></td> <td style="width: 1%"> </td> <td style="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">11,203</span></td></tr> <tr id="xdx_401_ecustom--AdditionalDeferredFinancingCosts_pn3n3_zzZMVr78qQ85" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Expenditure in the period</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">9,655</span></td> <td> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">13,790</span></td></tr> <tr id="xdx_40F_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pn3n3_z3DvXIU7aCua" style="background-color: #CCECFF"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Amortization included within interest expense</span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">(11,233)</span></td> <td> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">(8,279)</span></td></tr> <tr id="xdx_40F_eus-gaap--DeferredFinanceCostsNet_iE_pn3n3_ztrh10FPKOBg" style="background-color: white"> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Closing balance</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>15,136</b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>16,714</b></span></td></tr> </table> 16714000 11203000 9655000 13790000 -11233000 -8279000 15136000 16714000 1066000 1180000 7409000 434000 4049000 777000 1386000 191000 984000 945000 252000 2852000 1920000 11233000 8279000 4085000 Amounts drawn under the facilities listed above are secured by first priority mortgages on certain of the Company’s vessels and other collateral. The credit facilities contain a number of restrictive covenants that limit the Company from, among other things: incurring or guaranteeing indebtedness; charging, pledging or encumbering the vessels; and changing the flag, class, management or ownership of the vessel owning entities. The credit facilities also require the vessels to comply with the ISM Code and ISPS Code and to maintain valid safety management certificates and documents of compliance at all times. Additionally, specific credit facilities require compliance with a number of financial covenants including asset cover ratios and minimum liquidity and corporate guarantor requirements. Among other events, it will be an event of default under the credit facilities if the financial covenants are not complied with or remedied. As of December 31, 2022, and December 31, 2021, the Company was in compliance with its debt covenants. <p id="xdx_80A_eus-gaap--RevenueFromContractWithCustomerTextBlock_zTRZaYZPHKF7" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>13. <span id="xdx_82C_zY30ZitMrVFg">Time charter revenue</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Operating revenue from significant customers (constituting more than 10% of total time charter revenue) was as follows:</span></p> <p id="xdx_89C_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zZWb8gRAJhg1" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8BD_zsHvcRyWavpc" style="display: none">Time charter revenue - Operating revenue (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td colspan="5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Year Ended December 31,</b></span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; width: 68%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Charterer</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>2022</b></span></td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>2021</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>2020</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">CMA CGM</span></td> <td id="xdx_987_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember_zEbmdWlcuvF4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">29.62%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_983_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember_ziGVAuyCdvql" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">33.83%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember_zqBcZtQy56Dl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">50.60%</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">MAERSK</span></td> <td id="xdx_98E_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MAERSKMember_zjmeN4uNlt1h" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">29.79%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MAERSKMember_zzzbuu1DjO23" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">22.81%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_988_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MAERSKMember_zHl1Egt9zgJ" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">14.13%</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">MSC</span></td> <td id="xdx_988_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MSCMember_zdOSUZ4YWxnk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">5.28%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MSCMember_zfT5ujAVd7ab" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.54%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MSCMember_zR2G5tMbxf4g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">12.86%</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">ZIM</span></td> <td id="xdx_989_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZIMMember_zPO5ED7j6A7d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">10.73%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZIMMember_zTC6VA9M6wkf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.49%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_988_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZIMMember_z1KrS6bKAY5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3.51%</span></td></tr> </table> <p id="xdx_8A7_zXMZW1mppNUl" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span style="font-size: 10pt"><b> </b></span></span></p> <p id="xdx_89C_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zZWb8gRAJhg1" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8BD_zsHvcRyWavpc" style="display: none">Time charter revenue - Operating revenue (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td colspan="5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td colspan="5" style="border-bottom: Black 0.5pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Year Ended December 31,</b></span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; width: 68%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Charterer</b></span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>2022</b></span></td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>2021</b></span></td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>2020</b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">CMA CGM</span></td> <td id="xdx_987_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember_zEbmdWlcuvF4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">29.62%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_983_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember_ziGVAuyCdvql" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">33.83%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_ecustom--ConcentrationRiskPercentage_pid_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember_zqBcZtQy56Dl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">50.60%</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">MAERSK</span></td> <td id="xdx_98E_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MAERSKMember_zjmeN4uNlt1h" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">29.79%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MAERSKMember_zzzbuu1DjO23" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">22.81%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_988_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MAERSKMember_zHl1Egt9zgJ" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">14.13%</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">MSC</span></td> <td id="xdx_988_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MSCMember_zdOSUZ4YWxnk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">5.28%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MSCMember_zfT5ujAVd7ab" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.54%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MSCMember_zR2G5tMbxf4g" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">12.86%</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">ZIM</span></td> <td id="xdx_989_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZIMMember_zPO5ED7j6A7d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Percentage of revenue"><span style="font-size: 10pt">10.73%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZIMMember_zTC6VA9M6wkf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.49%</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_988_ecustom--ConcentrationRiskPercentage_pip0_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ZIMMember_z1KrS6bKAY5" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">3.51%</span></td></tr> </table> 0.2962 0.3383 0.5060 0.2979 0.2281 0.1413 0.0528 0.0754 0.1286 0.1073 0.0749 0.0351 <p id="xdx_80C_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z962UikcAgC4" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>14. <span id="xdx_822_zgpRIc7qnT01">Related Party Transactions</span></b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">CMA CGM has been presented as a related party due to the fact that as of December 31, 2021 and December 31, 2020, it was a shareholder, owning Class A common shares representing <span id="xdx_901_ecustom--VotingInterest_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9flSa4ZNGGc" title="Voting Interest"><span id="xdx_900_ecustom--VotingInterest_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zIxwvDat3hG8" title="Voting Interest">8.4</span></span>% of voting rights in the Company. As of May 27, 2022, following the sale of its shares in the Company, CMA CGM is no longer a shareholder. Related party revenue and expenses shown on the Consolidated Statements of Income for CMA CGM are up to May 27, 2022. <span id="xdx_90A_ecustom--VotingInterest_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zforYk4PWK95" style="display: none" title="Voting Interest">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="text-decoration: underline">Time Charter Agreements</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">A number of the Company’s time charter arrangements are with CMA CGM, representing <span id="xdx_901_ecustom--ConcentrationRiskPercentage_dp_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMIMember_z20XIHXZzNBh" title="Percentage of revenue">14.9</span>% of gross revenues for the period it was considered to be a related party in the year ended December 31, 2022, <span id="xdx_90C_ecustom--ConcentrationRiskPercentage_dp_uPure_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMIMember_zchXAyc3O4Th" title="Percentage of revenue">33.8</span>% of gross revenues in the year ended December 31, 2021 and <span id="xdx_904_ecustom--ConcentrationRiskPercentage_dp_uPure_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CMACGMIMember_zLDsRbWL5uFb" title="Percentage of revenue">50.6</span>% of gross revenues in the year ended December 31, 2020. Under these time charters, hire is payable in advance and the daily rate is fixed for the duration of the charter. Related party revenues generated from charters to CMA CGM are disclosed separately in the Consolidated Statements of Income.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b><span style="text-decoration: underline">Ship Management Agreements</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">Technomar Shipping Inc. (“Technomar”) is presented as a related party, as the Company’s Executive Chairman is a significant shareholder. The Company has currently a number of ship management agreements with Technomar under which the ship manager is responsible for all day-to-day ship management, among other things, including crewing, purchasing stores, lubricating oils and spare parts, paying wages, pensions and insurance for the crew, and organizing other ship operating necessities, including the arrangement and management of dry-docking. As of December 31, 2022 and 2021, Technomar provided all day-to-day technical ship management services for all but the Twelve Vessels which were delivered in July 2021. Another third party provided such management on the Twelve Vessels, from the time of their delivery in July 2021 until a change of management for <span id="xdx_901_ecustom--NumberOfVesselsUnderTechnicalManagement_dc_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zwZZQCNkHHKj">six</span> of them in September 2021 to Technomar, and the remaining <span id="xdx_90F_ecustom--NumberOfVesselsUnderTechnicalManagement_dc_uPure_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyManagersMember_zQLNOkQJYDng">six</span> vessels continued to be outsourced for day-to-day technical management to the third-party manager. The management fees charged to the Company by third party managers for the years ended December 31, 2022 and 2021, amounted to $<span id="xdx_903_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyManagersMember_zUgn6CCHqOIe" title="Management fees">1,488</span> and $<span id="xdx_902_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyManagersMember_zAYnWf7NLmJ8" title="Management fees">834</span>, respectively, (year ended December 31, 2020: $<span id="xdx_903_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartyManagersMember_z5QqzRqUBY5i" title="Management fees">0</span>) and are shown in “Vessels operating expenses” in the Consolidated Statements of Income. Technomar continues to supervise management for the six outsourced vessels.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The management fees charged to the Company by Technomar for the years ended December 31, 2022, 2021 and 2020, amounted to $<span id="xdx_903_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zbj5Zdl5bco1" title="Management fees">16,642</span>, $<span id="xdx_906_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zfKKRJ9kj5Fe" title="Management fees">15,294</span> and $<span id="xdx_907_eus-gaap--ProfessionalAndContractServicesExpense_pn3n3_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zAnVTLcricD4" title="Management fees">12,580</span>, respectively and are shown under “Vessels operating expenses-related parties” in the Consolidated Statements of Income. Additionally, as of December 31, 2022 and 2021, outstanding receivables due from Technomar totaling $<span id="xdx_908_eus-gaap--DueFromRelatedPartiesCurrent_iI_pn3n3_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zRACOgeIIYS1">673</span> and $<span id="xdx_90A_eus-gaap--DueFromRelatedPartiesCurrent_iI_pn3n3_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TechnomarMember_zP61bjGRfBHf">1,785</span>, respectively, are presented under “Due from related parties”.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">  </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b><span style="font-size: 10pt"><b>14. Related Party Transactions (continued)</b></span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b><span style="text-decoration: underline">Ship Management Agreements </span>(continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Conchart Commercial Inc. (“Conchart”) provides commercial management services to the Company pursuant to commercial management agreements. The Company’s Executive Chairman is the sole beneficial owner of Conchart. Under the commercial management agreements, Conchart, is responsible for (i) marketing of the Company’s vessels, (ii) seeking and negotiating employment of the Company’s vessels, (iii) advise the Company on market developments, developments of new rules and regulations, (iv) assisting in calculation of hires, freights, demurrage and/or dispatch monies and collection any sums related to the operation of vessels, (v) communicating with agents, and (vi) negotiating sale and purchase transactions. For the <span id="xdx_905_ecustom--NumberOfVesselsUnderTechnicalManagement_uPure_c20220101__20221231__us-gaap--NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis__custom--PoseidonTransactionMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zoaItnv7jPI3">19</span> vessels that the Company acquired as a result of the Poseidon Transaction, excluding the Argos, the agreements were effective from the date of the completion of the Poseidon Transaction; for the 19 vessels that were owned by the Company prior to the consummation of the Poseidon Transaction till refinance of 2022 Notes which took place on January 2021, an EBSA agreement was in place that was terminated and replaced with commercial management agreements also same agreements applied to all vessels that have been delivered; for all new acquired vessels during 2019 and going forward, the agreements were effective upon acquisition.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The fees charged to the Company by Conchart for the years ended December 31, 2022, 2021 and 2020, amounted to $<span id="xdx_901_ecustom--TimeCharterAndVoyageExpensesRelatedParty_pn3n3_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_z5WrSjRs3Epk" title="Time charter and voyage expenses-related parties">6,289 </span></span><span style="font-size: 10pt">and $<span id="xdx_909_ecustom--TimeCharterAndVoyageExpensesRelatedParty_pn3n3_c20210101__20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zjIedxIV56Kj" title="Time charter and voyage expenses-related parties">3,583 </span></span><span style="font-size: 10pt">and $<span id="xdx_904_ecustom--TimeCharterAndVoyageExpensesRelatedParty_pn3n3_c20200101__20201231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zl2LBH5Vvz4j" title="Time charter and voyage expenses-related parties">2,446</span></span><span style="font-size: 10pt">, respectively, and are disclosed within “Time charter and voyage expenses-related parties” in the Consolidated Statements of Income. Any outstanding fees due to Conchart are presented in the Consolidated Balance Sheets under "Due to related parties" totaling to $<span id="xdx_90B_eus-gaap--DueToRelatedPartiesCurrent_iI_pn3n3_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_zENetNWWjvE3">572 </span></span><span style="font-size: 10pt">and $<span id="xdx_903_eus-gaap--DueToRelatedPartiesCurrent_iI_pn3n3_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConchartMember_z8f8lwOpu7h6">41 </span></span><span style="font-size: 10pt">as of December 31, 2022 and 2021, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company as per commercial management agreements has agreed to pay to the commercial manager who shall be named broker in each memorandum of agreement (or equivalent agreement) providing for the sale of all vessels and purchase of some vessels, a commission of <span id="xdx_905_ecustom--BrokerFeeCommissionPercentage_dp_uPure_c20220101__20221231_zO7NJIB9axB3" title="Percentage of broker commission">1.00</span>% based on the sale and purchase price for any sale and purchase of a vessel, which shall be payable upon request of the commercial manager.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> 0.084 0.084 0 0.149 0.338 0.506 6 6 1488000 834000 0 16642000 15294000 12580000 673000 1785000 19 6289000 3583000 2446000 572000 41000 0.0100 <p id="xdx_806_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zdeBaUe5dBWd" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>15. <span id="xdx_82F_zRssjM0JS9k">Commitments and Contingencies</span> </b></span><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>Charter Hire Receivable </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">The Company has entered time charters for its vessels. The charter hire is fixed for the duration of the charter. The minimum contracted future charter hire receivable, net of address commissions, not allowing for any unscheduled off-hire, assuming expiry at earliest possible dates and assuming options callable by the Company included in the charters are not exercised, for the <span id="xdx_900_ecustom--NumberOfVesselsOwned_uPure_c20220101__20221231_zEUh0ddpri2c" title="Number of Vessels owned">65</span> vessels as at December 31, 2022 is as follows:</span></p> <p id="xdx_897_ecustom--ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock1_z1gOaW2MxfNe" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span><span id="xdx_8B6_z0TOFXKvolF9" style="display: none">Commitments and Contingencies - Charter Hire Receivable (Table)</span><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_494_20221231_zoY2fuvvGzXj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr> <td style="border-bottom: Black 0.5pt solid; width: 88%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_402_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableCurrent1_iI_pn3n3_matminimumlease_zWmlEVTn8IHa" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2023</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">596,321</span></td></tr> <tr id="xdx_401_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears1_iI_pn3n3_matminimumlease_zPQdsYgSmcwl" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2024</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">496,107</span></td></tr> <tr id="xdx_406_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears1_iI_pn3n3_matminimumlease_zUz12J1sjzXj" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2025</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">305,174</span></td></tr> <tr id="xdx_404_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableInFourYears1_iI_pn3n3_matminimumlease_zHbOg3eV2lI" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2026</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">238,269</span></td></tr> <tr id="xdx_409_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableThereafter1_iI_pn3n3_matminimumlease_zxQiRYW9756b" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Thereafter</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">307,729</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total minimum lease revenue, net of address commissions </b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_ecustom--OperatingLeasesFutureMinimumPaymentsReceivable1_iTI_pn3n3_mttminimumlease_c20221231_zG81bK1yzEO9" style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total minimum lease revenue, net of address commissions"><span style="font-size: 10pt"><b>1,943,600</b></span></td></tr> </table> <p id="xdx_8A3_zXt4feTETL7h" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 5pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 4pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b> </b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">  </span></p> 65 <p id="xdx_897_ecustom--ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock1_z1gOaW2MxfNe" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span><span id="xdx_8B6_z0TOFXKvolF9" style="display: none">Commitments and Contingencies - Charter Hire Receivable (Table)</span><span style="font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_494_20221231_zoY2fuvvGzXj" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr> <td style="border-bottom: Black 0.5pt solid; width: 88%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; width: 1%"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>Amount</b></span></td></tr> <tr id="xdx_402_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableCurrent1_iI_pn3n3_matminimumlease_zWmlEVTn8IHa" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2023</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">596,321</span></td></tr> <tr id="xdx_401_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears1_iI_pn3n3_matminimumlease_zPQdsYgSmcwl" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2024</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">496,107</span></td></tr> <tr id="xdx_406_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears1_iI_pn3n3_matminimumlease_zUz12J1sjzXj" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2025</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">305,174</span></td></tr> <tr id="xdx_404_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableInFourYears1_iI_pn3n3_matminimumlease_zHbOg3eV2lI" style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">December 31, 2026</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">238,269</span></td></tr> <tr id="xdx_409_ecustom--OperatingLeasesFutureMinimumPaymentsReceivableThereafter1_iI_pn3n3_matminimumlease_zxQiRYW9756b" style="vertical-align: bottom; background-color: #CCECFF"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Thereafter</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">307,729</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Total minimum lease revenue, net of address commissions </b></span></td> <td> </td> <td style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_984_ecustom--OperatingLeasesFutureMinimumPaymentsReceivable1_iTI_pn3n3_mttminimumlease_c20221231_zG81bK1yzEO9" style="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Total minimum lease revenue, net of address commissions"><span style="font-size: 10pt"><b>1,943,600</b></span></td></tr> </table> 596321000 496107000 305174000 238269000 307729000 1943600000 <p id="xdx_806_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zayNA2moY6Tf" style="font: 4pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>16.</b> <b><span id="xdx_82E_za4zVdSSCZjc">Share Capital</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"><span style="font-size: 10pt"><b>Common shares</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, the Company has <span id="xdx_90F_ecustom--NumberOfClassesOfCommonStock_iI_dc_uPure_c20221231_zw8bzHQcukz6" title="Classes of common shares">one</span> class of Class A common shares.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Restricted stock units or incentive stock units have been granted to the Directors and management, under the Company’s Equity Incentive Plans, as part of their compensation arrangements (see note 17). In April 2020, the Company issued <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20200101__20200430__us-gaap--StatementEquityComponentsAxis__custom--CommonClassA2019PlanMember_zVa4jKIzpTX5">184,270</span> shares under grants made under the 2019 Omnibus Incentive Plan (the “2019 Plan”). In 2021, <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210101__20211231__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_zCSF8lKN9zu8">747,604</span> Class A common shares were issued under the 2019 Plan.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">During the year ended December 31, 2022, a further <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__custom--CommonClassA2019PlanMember_zaJutkEZeJng">586,819</span> Class A common shares were issued under the 2019 Plan.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On January 11, 2021, the Board of Directors approved the initiation of a quarterly cash dividend of $<span id="xdx_906_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20210111__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zIxYsGITmLL7" title="Dividends Payable amount per Share | $ / shares">0.12</span> per Class A Common Share, with effect from the first quarter of 2021.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On January 20, 2021, upon the redemption in full of the 2022 Notes, KEP VI (Newco Marine) Ltd. and KIA VIII (Newco Marine) Ltd. (together, “Kelso”), both affiliates of Kelso &amp; Company, a U.S. private equity firm, exercised their right to convert an aggregate of <span id="xdx_90B_eus-gaap--ConversionOfStockSharesConverted1_pip0_c20210101__20210120__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__srt--CounterpartyNameAxis__custom--KelsoMember_zutS7heAoUo1" title="Preferred Stock, Shares Outstanding">250,000</span> Series C Perpetual Convertible Preferred Shares, representing all such shares outstanding, into Class A common shares of the Company, resulting in issuance of an aggregate of <span id="xdx_905_eus-gaap--ConversionOfStockSharesIssued1_pip0_c20210101__20210120__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--CounterpartyNameAxis__custom--KelsoMember_zdsyYFYSwtOl" title="Conversion of Stock, Shares Issued">12,955,188</span> Class A common shares to Kelso.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On January 26, 2021, the Company completed its underwritten public offering of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pip0_c20210101__20210126__us-gaap--SubsidiarySaleOfStockAxis__custom--January2021EquityOfferingMember_zv4mSWBMJSSi" title="Stock issued during the period">5,400,000</span> Class A common shares, at a public offering price of $<span id="xdx_906_eus-gaap--SharesIssuedPricePerShare_iI_uUSDPShares_c20210126__us-gaap--SubsidiarySaleOfStockAxis__custom--January2021EquityOfferingMember_ziO6pT3RTaqk" title="Shares Issued, Price Per Share | $ / shares">13.00</span> per share, for gross proceeds to the Company of approximately $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3n3_c20210101__20210126__us-gaap--SubsidiarySaleOfStockAxis__custom--January2021EquityOfferingMember_zzAf58SmoGfa" title="Proceeds from Issuance or Sale of Equity">70,200</span>, prior to deducting underwriting discounts, commissions and other offering expenses. The Company intended to use the net proceeds of the offering for funding the expansion of the Company’s fleet, general corporate purposes, and working capital. On February 17, 2021, the Company issued an additional <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_uShares_c20210101__20210217__us-gaap--SubsidiarySaleOfStockAxis__custom--January2021EquityOfferingMember_zz5v3JkhPqa7" title="Stock issued during the period">141,959</span> Class A common shares in connection with the underwriters’ partial exercise of their option to purchase additional shares (together, the “January 2021 Equity Offering”). The net proceeds the Company received in the January 2021 Equity Offering, after deducting underwriting discounts and commissions and expenses, were approximately $<span id="xdx_909_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn3n3_c20210101__20210217__us-gaap--SubsidiarySaleOfStockAxis__custom--January2021EquityOfferingMember_za7iVaXlI9m3" title="Proceeds from Issuance or Sale of Equity | $">67,758</span>. On September 1, 2021, the Company purchased <span id="xdx_909_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pip0_c20210101__20210901__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z8gCT6pUD594" title="Cancellation of common shares">521,650</span> shares and retired them, reducing the issued and outstanding shares. In April 2022, September 2022 and October 2022, the Company repurchased <span id="xdx_901_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pip0_c20220101__20220430__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zXF7S4UTKQl9" title="Common shares, repurchased">184,684</span>, <span id="xdx_902_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pip0_c20220101__20220930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zNzEXXw9rIm2" title="Common shares, repurchased">568,835</span> and <span id="xdx_909_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pip0_c20220101__20221031__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z0x8iKcELTna" title="Common shares, repurchased">307,121</span> Class A common shares, respectively, reducing the issued and outstanding shares. As at December 31, 2022, the Company had <span id="xdx_90E_eus-gaap--SharesOutstanding_iI_pip0_uShares_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zy34dYI26QZj" title="Common Stock, Shares, Outstanding">35,990,288</span> Class A common shares outstanding.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On April 13, 2021, Kelso and Maas Capital Investments B.V. sold an aggregate of <span id="xdx_906_ecustom--NumberOfSharesSold_iI_pip0_c20210413__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--CounterpartyNameAxis__custom--KelsoAndMaasMember_zNzmaktMJS37" title="Number of shares sold">5,175,000</span> Class A common shares which they held in an underwritten public offering at $<span id="xdx_901_eus-gaap--SharesIssuedPricePerShare_iI_c20210413__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--CounterpartyNameAxis__custom--KelsoAndMaasMember_zJG5YuQFjic6" title="Shares Issued, Price Per Share | $ / shares">12.50</span> per share (including 675,000 Class A common shares that were sold pursuant to the underwriters’ exercise, in full, of their option to purchase additional shares). The Company did not receive any proceeds from this sale of Class A Common Shares.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On May 10, 2021, the Company announced a dividend of $<span id="xdx_90D_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20210510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zMYMjBOr35Wb" title="Dividends Payable amount per Share">0.25</span> per Class A common share from the earnings of the first quarter 2021, paid on <span id="xdx_901_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20210101__20210510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7bZIy8miTb9" title="Dividends Payable, Date to be Paid">June 3, 2021</span> to common shareholders of record as of <span id="xdx_903_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20210101__20210510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwXOv8CYeZ5h" title="Dividends Payable, Date of Record">May 24, 2021</span>, amounting to $<span id="xdx_90E_eus-gaap--Dividends_pn3n3_c20210101__20210510__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zuyG97V9ksk5" title="Dividends">9,347</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">On August 5, 2021, the Company announced a dividend of $<span id="xdx_906_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20210805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zVe4Yhp6A1o9" title="Dividends Payable amount per Share">0.25</span> per Class A common share from the earnings of the second quarter 2021, paid on <span id="xdx_908_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20210101__20210805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zlaqp1SKTYI" title="Dividends Payable, Date to be Paid">September 3, 2021</span> to common shareholders of record as of <span id="xdx_903_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20210101__20210805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zrdCuF5SSrpi" title="Dividends Payable, Date of Record">August 23, 2021</span>, amounting to $<span id="xdx_90B_eus-gaap--Dividends_pn3n3_c20210101__20210805__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQBbwKoEy8n5" title="Dividends">9,358</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">On November 2, 2021, the Company announced a dividend of $<span id="xdx_90F_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20211102__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ziJM6S78jPJg" title="Dividends Payable amount per Share">0.25</span> per Class A common share from the earnings of the third quarter 2021 paid on <span id="xdx_908_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20211101__20211102__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zXf8cFuHngii" title="Dividends Payable, Date to be Paid">December 2, 2021</span> to common shareholders of record as of <span id="xdx_90F_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20211101__20211102__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOF3VsRT1is2" title="Dividends Payable, Date of Record">November 22, 2021</span>, amounting to $<span id="xdx_900_eus-gaap--Dividends_pn3n3_c20211101__20211102__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zCj4bSdo7AZ6" title="Dividends">9,235</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">On November 22, 2021, the Board of Directors announced its intention to increase the quarterly dividend to be paid to common shareholders by 50% to $<span id="xdx_900_eus-gaap--DividendsPayableAmountPerShare_iI_pip0_c20211122__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardDateAxis__custom--EffectiveFirstQuarterOf2022Member_zwApPGjLvLb3" title="Dividends Payable, Amount Per Share">0.375</span> per share, with effect from the first quarter of 2022.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">On February 10, 2022, the Company announced a dividend of $<span id="xdx_909_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20220210__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSB2gWqb6cSd" title="Dividends Payable amount per Share">0.25</span> per Class A common share from the earnings of the fourth quarter of 2021 paid on <span id="xdx_90E_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20220101__20220210__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyK85JvLWip2" title="Dividends Payable, Date to be Paid">March 4, 2022</span> to common shareholders of record as of <span id="xdx_909_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20220101__20220210__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zJD8bDDOdg6e" title="Dividends Payable, Date of Record">February 22, 2022</span>, amounting to $<span id="xdx_909_eus-gaap--Dividends_pn3n3_c20220101__20220210__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4oWItjfqlwc" title="Dividends">9,257</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><span style="font-size: 10pt"><b>16. Share Capital (continued)</b></span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0"><span style="font-size: 10pt"><b>Common shares (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">On May 9, 2022, the Company announced a dividend of $<span id="xdx_90A_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20220509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDV5pYKniBXj" title="Dividends Payable amount per Share">0.375</span> per Class A common share from the earnings of the first quarter of 2022 paid on <span id="xdx_908_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20220101__20220509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxEh2mT1zXy1" title="Dividends Payable, Date to be Paid">June 2, 2022</span>, to common shareholders of record as of <span id="xdx_90B_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20220101__20220509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zDnuswXuyM6g" title="Dividends Payable, Date of Record">May 24, 2022</span> amounting to $<span id="xdx_90F_eus-gaap--Dividends_pn3n3_c20220101__20220509__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqGpPPHQC4La" title="Dividends">13,836</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">On August 4, 2022, the Company announced a dividend of $<span id="xdx_905_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20220804__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zFQQFlRQofQe" title="Dividends Payable amount per Share">0.375</span> per Class A common share from the earnings of the second quarter of 2022 paid on <span id="xdx_90D_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20220801__20220804__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zhkR7eGoWX9k" title="Dividends Payable, Date to be Paid">September 2, 2022</span> to common shareholders of record as of <span id="xdx_909_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20220801__20220804__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfZHt3hmwUi3" title="Dividends Payable, Date of Record">August 23, 2022</span> amounting to $<span id="xdx_90E_eus-gaap--Dividends_pn3n3_c20220801__20220804__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zyk8ny0ZJEsg" title="Dividends">13,856</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">On November 9, 2022, the Company announced a dividend of $<span id="xdx_901_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20221109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z398yet5uKif" title="Dividends Payable amount per Share">0.375</span> per Class A common share from the earnings of the third quarter of 2022 paid on <span id="xdx_905_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20221101__20221109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zaCKctrDuNG5" title="Dividends Payable, Date to be Paid">December 2, 2022</span>, to common shareholders of record as of <span id="xdx_90D_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20221101__20221109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBcGizshy8y4" title="Dividends Payable, Date of Record">November 22, 2022</span> amounting to $<span id="xdx_90B_eus-gaap--Dividends_pn3n3_c20221101__20221109__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zlNtXzDMJzOb" title="Dividends">13,548</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt"><b>Preferred shares</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt"><span id="xdx_909_ecustom--PreferredStockIssueDescription_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zDBp9ht5o6Od" title="Preferred shares issuance term description">On August 20, 2014, the Company issued 1,400,000 Depositary Shares (the "Depositary Shares"), each of which represents 1/100th of one share of the Company's 8.75% Series B Cumulative Perpetual Preferred Shares ("Series B Preferred Shares") representing an interest in 14,000 Series B Preferred Shares, par value $0.01 per share, with a liquidation preference of $2,500.00 per share (equivalent to $25.00 per Depositary Share) (NYSE:GSL-B), priced at $<span id="xdx_905_ecustom--PreferredStockRedemptionPricePerDepositoryShare_pid_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zNgh5RR4WTAh">25.00</span> per Depositary Share.</span> The net proceeds from the offering were $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfRedeemablePreferredStock_pn3n3_c20140101__20140820__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zX78Hdu5Tjle">33,497</span>. Dividends are payable at <span id="xdx_909_eus-gaap--PreferredStockDividendRatePercentage_dp_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zFKYReEIhw3i">8.75</span>% per annum in arrears on a quarterly basis. <span id="xdx_90B_eus-gaap--PreferredStockRedemptionTerms_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zECu3vyVWyS8" title="Preferred Stock, Redemption Terms">At any time after August 20, 2019 (or within 180 days after the occurrence of a fundamental change), the Series B Preferred Shares may be redeemed, at the discretion of the Company, in whole or in part, at a redemption price of $<span id="xdx_908_eus-gaap--PreferredStockRedemptionPricePerShare_iI_pp0n3_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zv0ZRgbg4PE4">2,500.00</span> per share (equivalent to $25.00 per depositary share).</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">These shares are classified as Equity in the Consolidated Balance Sheets. The dividends payable on the Series B Preferred Shares are presented as a reduction of Retained Earnings in the Consolidated Statements of Changes in Shareholders’ Equity, when and if declared by the Board of Directors. An initial dividend was declared on September 22, 2014 for the third quarter 2014. Subsequent dividends have been declared for all quarters.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">On December 10, 2019, the Company entered into At Market Issuance Sales Agreement with B. Riley FBR under which the Company may, from time to time, issue additional Depositary Shares. Pursuant to the Depositary Share ATM Program, in 2019, the Company issued <span id="xdx_901_eus-gaap--SharesIssued_iI_pid_c20191231__us-gaap--AwardTypeAxis__custom--ADR2Member_z2aDR5Vevyn2" title="Shares Issued">42,756</span> Depositary Shares (representing an interest in <span id="xdx_904_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20191231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--AwardTypeAxis__custom--ADR2Member_zdAOiIni8x6k" title="Preferred Stock, Shares Outstanding">428</span> Series B Preferred Shares) for net proceeds net of offering costs of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfRedeemablePreferredStock_pn3n3_c20190101__20191231__us-gaap--AwardTypeAxis__custom--ADR2Member_zuOU9VwZd4zh" title="Proceeds from Issuance of Redeemable Preferred Stock | $">856</span>. During year ended December 31, 2020, the Company issued <span id="xdx_90F_eus-gaap--SharesIssued_iI_pip0_c20201231__us-gaap--AwardTypeAxis__custom--ADR2Member_zkE11pohHMbc" title="Shares Issued">839,442</span> Depositary Shares (representing an interest in <span id="xdx_904_eus-gaap--PreferredStockSharesOutstanding_iI_pid_c20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--AwardTypeAxis__custom--ADR2Member_ziazByF09RO1" title="Preferred Stock, Shares Outstanding">8,394</span> Series B Preferred Shares) for net proceeds net of offering costs of $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfRedeemablePreferredStock_pn3n3_c20200101__20201231__us-gaap--AwardTypeAxis__custom--ADR2Member_zwfF6wvBMZnf" title="Proceeds from Issuance of Redeemable Preferred Stock | $">18,847</span>. During the year ended December 31, 2021, the Company issued <span id="xdx_908_eus-gaap--SharesIssued_iI_pip0_c20211231__us-gaap--AwardTypeAxis__custom--ADR2Member_zSu9itW1JG3b" title="Shares Issued">2,076,992</span> Depositary Shares for net proceeds net of offering costs of $<span id="xdx_90B_eus-gaap--ProceedsFromIssuanceOfRedeemablePreferredStock_pn3n3_c20210101__20211231__us-gaap--AwardTypeAxis__custom--ADR2Member_z4JxylSxetre" title="Proceeds from Issuance of Redeemable Preferred Stock | $">51,234</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 29, 2022, the Company entered into a new At Market Issuance Sales Agreement with B. Riley Securities, Inc. (the “Agent”), pursuant to which the Company may offer and sell, from time to time, up to $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn3n3_c20220101__20221229__us-gaap--AwardTypeAxis__custom--ATMAgreement2022Member_ztrFiobirDVj">150,000,000</span> of its Depositary Shares. This new ATM Agreement terminated and replaced, in its entirety, the former at-the-market program that the Company had in place with the Agent for the Depositary Shares. Up to December 31, 2022, the Company had offering costs amounting to $<span id="xdx_904_ecustom--StockIssuedDuringPeriodOfferingCost_pn3n3_c20220101__20221231__us-gaap--AwardTypeAxis__custom--ATMAgreement2022Member_zXgb3vNMchv5" title="Stock Offering Cost">300</span> and no sales had occurred under the new ATM Agreement.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">As of December 31, 2022, there were <span id="xdx_90F_ecustom--DepositarySharesOutstanding_iI_pip0_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zGKjKsvC6Zsb">4,359,190</span> Depositary Shares outstanding, representing an interest in <span id="xdx_909_eus-gaap--PreferredStockSharesOutstanding_iI_pip0_c20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zIyxfPutYYab">43,592 </span></span><span style="font-size: 10pt">Series B Preferred Shares.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt"/></p> 1 184270 747604 586819 0.12 250000 12955188 5400000 13.00 70200000 141959 67758000 521650 184684 568835 307121 35990288 5175000 12.50 0.25 2021-06-03 2021-05-24 9347000 0.25 2021-09-03 2021-08-23 9358000 0.25 2021-12-02 2021-11-22 9235000 0.375 0.25 2022-03-04 2022-02-22 9257000 0.375 2022-06-02 2022-05-24 13836000 0.375 2022-09-02 2022-08-23 13856000 0.375 2022-12-02 2022-11-22 13548000 On August 20, 2014, the Company issued 1,400,000 Depositary Shares (the "Depositary Shares"), each of which represents 1/100th of one share of the Company's 8.75% Series B Cumulative Perpetual Preferred Shares ("Series B Preferred Shares") representing an interest in 14,000 Series B Preferred Shares, par value $0.01 per share, with a liquidation preference of $2,500.00 per share (equivalent to $25.00 per Depositary Share) (NYSE:GSL-B), priced at $25.00 per Depositary Share. 25.00 33497000 0.0875 At any time after August 20, 2019 (or within 180 days after the occurrence of a fundamental change), the Series B Preferred Shares may be redeemed, at the discretion of the Company, in whole or in part, at a redemption price of $2,500.00 per share (equivalent to $25.00 per depositary share). 2500000.00 42756 428 856000 839442 8394 18847000 2076992 51234000 150000000000 300000 4359190 43592 <p id="xdx_808_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zFidwqcZAth1" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>17.</b> <b><span id="xdx_827_zBIGCkh0alde">Share-Based Compensation</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 4, 2019, the Board of Directors adopted the Global Ship Lease, Inc. 2019 Omnibus Incentive Plan (“the 2019 Plan”).</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The purpose of the 2019 Plan is to provide directors, officers and employees, whose initiative and efforts are deemed to be important to the successful conduct of our business, with incentives to (a) enter into and remain in the service of our company or our subsidiaries and affiliates, (b) acquire a proprietary interest in the success of the Company, (c) maximize their performance and (d) enhance the long-term performance of our company. The 2019 Plan is administered by the Compensation Committee of the Board of Directors or such other committee of the Board of Directors as may be designated by them. Unless terminated earlier by the Board of Directors, the 2019 Plan will expire 10 years from the date on which the 2019 Plan was adopted by the Board of Directors.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Following the adoption of the 2019 Plan, previous plans adopted in 2015 and 2008 were terminated.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">In 2019, the Board of Directors approved awards to the Company’s executive officers under the 2019 Plan, providing those executive officers with the opportunity to receive up to <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--ExecutiveOfficersMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_z4DJzGk5stx9" title="Maximum number of shares approved under Equity Incentive Plan">1,359,375</span> Class A common shares in aggregate. The Board of Directors approved additional awards of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--TwoOtherEmployeesMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zAlr360VU8Af" title="Share-based Compensation, Grants in Period">61,625</span> of Class A common shares to two other employees resulting in a total amount of awards of up to <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zILFjOJrNRJc" title="Maximum number of shares approved under Equity Incentive Plan">1,421,000</span> shares. In July 2021, the Board of Directors approved the issuance of <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20210731__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--MemberOfSeniorManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_z74BIFkCX2Ub" title="Share-based Compensation, Grants in Period">17,720</span> shares to one member of senior management as a special bonus.</span></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">The 1,421,000 shares of incentive stock may be issued pursuant to the awards, in <span id="xdx_90D_ecustom--NumberOfTranches_dc_uPure_c20210101__20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zSLHHgQKnl07" title="Number of tranches">four</span> tranches. The first tranche was to vest conditioned only on continued service over the three-year period which commenced January 1, 2019. Tranches two, three and four would vest when the Company’s stock price exceeded $<span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingStockPrice_iI_uUSDPShares_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--SecondTrancheMember__srt--RangeAxis__srt--MinimumMember_z0BUDmnm58sh" title="Share price">8.00</span>, $<span id="xdx_908_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingStockPrice_iI_uUSDPShares_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--ThirdTrancheMember__srt--RangeAxis__srt--MinimumMember_zJrmO6oETOge" title="Share price">11.00</span> and $<span id="xdx_909_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingStockPrice_iI_uUSDPShares_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--FourthTrancheMember__srt--RangeAxis__srt--MinimumMember_z4KZlmX5Za82" title="Share price">14.00</span>, respectively, over a <span id="xdx_904_ecustom--NumberOfConsecutiveTradingDays_dtD_c20210101__20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--SecondTrancheMember__srt--RangeAxis__srt--MinimumMember_zTE6uXmbdk7b" title="Number of consecutive trading days"><span id="xdx_90A_ecustom--NumberOfConsecutiveTradingDays_dtD_c20210101__20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--ThirdTrancheMember__srt--RangeAxis__srt--MinimumMember_z29z7qYOvEul" title="Number of consecutive trading days"><span id="xdx_907_ecustom--NumberOfConsecutiveTradingDays_dtD_c20210101__20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--FourthTrancheMember__srt--RangeAxis__srt--MinimumMember_zCokPTkX4yyb" title="Number of consecutive trading days">60</span></span></span>-day period. The $8.00 threshold was achieved in <span id="xdx_90D_ecustom--DebtInstrumentConvertibleConversionDate1_iI_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--SecondTrancheMember__srt--RangeAxis__srt--MinimumMember_zRW8NrdNrKtc" title="Stock Price Threshold Date">January 2020</span>, the $11.00 threshold was achieved in <span id="xdx_902_ecustom--DebtInstrumentConvertibleConversionDate1_iI_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--ThirdTrancheMember__srt--RangeAxis__srt--MinimumMember_zlLa4DH5gc13" title="Stock Price Threshold Date">January 2021</span> and the $14.00 threshold was achieved in <span id="xdx_90F_ecustom--DebtInstrumentConvertibleConversionDate1_iI_c20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--FourthTrancheMember__srt--RangeAxis__srt--MinimumMember_zs0HsGC2ivHf" title="Stock Price Threshold Date">March 2021</span>. Accordingly, <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20190101__20191231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_z0CDPUoJVGmc" title="Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period">113,279</span> incentive shares vested in the year ended December 31, 2019, <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20200101__20201231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zusKzpskhQt8" title="Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period">317,188</span> incentive shares vested in the year ended December 31, 2020 and <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zjL5SJNV1Fz9" title="Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period">1,008,253</span> incentive shares vested in the year ended December 31, 2021. Of the total of <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20200101__20201231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z46yPQAPwtqk" title="Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period">430,467</span> incentive shares which vested up to December 31, 2020, <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20200101__20200430__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z0sj0M8jdnmi" title="Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period">184,270</span> were settled and issued as Class A common shares in April 2020. A further <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z8uuclW8kSZ4" title="Stock Issued During Period, Shares, New Issues">747,604</span> Class A common shares were settled and issued during the year ended December 31, 2021. A total of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zXON4nWTvgcb" title="Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period">1,438,720</span> incentive shares had vested as at December 31, 2021, of which <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20210101__20211231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zjCtzOcnuY0a" title="Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period">931,874</span> and <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20220101__20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z2A9kmUMxCM6" title="Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period">408,096</span> had been issued in 2021 and 2022, respectively.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">On September 29, 2021, the Compensation Committee and the Board of Directors approved an increase in the aggregate number of Class A common shares available for issuance as awards under the 2019 Plan by <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__srt--RangeAxis__srt--MinimumMember_zGrLwmIN9lGd">1,600,000 </span></span><span style="font-size: 10pt">to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__srt--RangeAxis__srt--MaximumMember_zQ7ydXeyUrd3">3,412,500</span>, and approved new awards to senior management, totaling <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zX1Qb2sg9mH7">1,500,000 </span></span><span style="font-size: 10pt">shares of incentive stock, in <span id="xdx_90D_ecustom--NumberOfTranches_dc_uPure_c20210101__20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zVqUJ1wOCTs2">three </span></span><span style="font-size: 10pt">tranches with a grant date October 1, 2021. The first tranche, representing 55% of the total, is to vest quarterly conditioned only on continued service over the four-year period which commenced <span id="xdx_906_ecustom--CommencedDate_dd_c20210101__20210929__srt--StatementScenarioAxis__custom--FirstTrancheMember__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zNso1LmGt7Qc">October 1, 2021</span></span><span style="font-size: 10pt">. Tranches two and three, each representing 22.5% of the total, were to vest quarterly up to <span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleLatestDate1_dd_c20210101__20210929__srt--StatementScenarioAxis__custom--SecondAndThirdTranchesMember__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zCrz4cyF2Muf">September 30, 2025</span></span><span style="font-size: 10pt">, when our stock price exceeded $<span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingStockPrice_iI_uUSDPShares_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--SecondTrancheMember__srt--RangeAxis__srt--MinimumMember_zU0tCXdrsAl">27.00 </span></span><span style="font-size: 10pt">and $<span id="xdx_905_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardVestingStockPrice_iI_uUSDPShares_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--ThirdTrancheMember__srt--RangeAxis__srt--MinimumMember_z43z0EVYIkJg">30.00</span></span><span style="font-size: 10pt">, respectively, over a <span id="xdx_90A_ecustom--NumberOfConsecutiveTradingDays_dtD_c20210101__20211231__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ManagementMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--InvestmentTypeAxis__custom--SecondTrancheMember__srt--RangeAxis__srt--MinimumMember_zqJCggrsTiRd">60</span></span><span style="font-size: 10pt">-day period. The Compensation Committee and Board of Directors also approved an increase the maximum number of Class A common shares that each non-employee director may be granted in any one year to <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--TwoThousandNineteenIncentivePlanMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__srt--ManagementMember__srt--RangeAxis__srt--MaximumMember_zWiCiXP7YcCc">25,000 </span></span><span style="font-size: 10pt">and subsequently approved stock-based awards to the then seven non-executive directors totaling <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__custom--NonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zJ6u0ZFNNpPh">105,000 </span></span><span style="font-size: 10pt">shares of incentive stock, or <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20210929__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__srt--TitleOfIndividualAxis__custom--EachNonExecutiveDirectorsMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_z4VtCf4tU9p3">15,000</span> each, to vest in a similar manner to those awarded to senior management.</span></p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_pip0_c20220101__20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--TwoDirectorsMember_zGCXFdedF8Fj">28,528</span> unvested share awards were cancelled or withdrawn on the resignations of two directors and an award of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--OneNewDirectorMember_zHEhkpHaZpG2">13,780</span> was made to one new director to vest in a similar manner to the other awards, with the first tranche adjusted for the date of appointment of the director.</span></p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 9pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As at December 31, 2022, <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pip0_c20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYjbK2vzDlji">3,028,972</span> incentive Class A common shares had been awarded under the 2019 Plan leaving <span id="xdx_906_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pip0_c20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7GQ1ftSBbO9">383,528</span> Class A common shares available to be awarded under the 2019 Plan.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0pt 12pt; text-align: justify"><span style="font-size: 10pt">During the years ended December 31, 2022 and 2021, <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20220101__20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zUmyVyQOb7H5">218,366 </span></span><span style="font-size: 10pt">and <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pip0_c20210101__20211231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_z6FB30at8UIi">55,175 </span></span><span style="font-size: 10pt">incentive shares vested, respectively, under the new awards , of which $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pip0_c20220101__20221231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zOG6YBvD9CGl">178,723</span> and $nil had been issued in 2022 and 2021, respectively. <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pip0_c20210101__20211231__us-gaap--PlanNameAxis__custom--NewTwoThousandNineteenIncentivePlanMember__us-gaap--DeferredCompensationArrangementWithIndividualShareBasedPaymentsByTypeOfDeferredCompensationAxis__custom--IncentiveStockMember_zsT4raeelyXc" style="display: none">0</span></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><b>17. Share-Based Compensation (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">A total of <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_pip0_c20221231_zbFU7ti9t9ob" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested, Number">1,712,261</span> incentive shares under both plans had vested as at December 31, 2022. Of the total incentive shares which vested under both plans up to December 31, 2022, <span id="xdx_90F_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pip0_c20221231_zD4MuHE7ReJb" title="Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number">193,569</span> had not been issued.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Share based awards since January 1, 2021, are summarized as follows:</span></p> <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zWf5wuGQdPel" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B2_zb5m23HgeCTc" style="display: none">Share-Based Compensation (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: white"> <td style="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"> </span></td> <td> </td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Restricted Stock Units</b></span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"> </span></td> <td> </td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Number of Units</span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"> </span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Number</span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Weighted Average</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Fair Value</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">on Grant Date</span></p></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Actual Fair</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Value on</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Vesting Date</span></p></td></tr> <tr> <td style="width: 65%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Unvested as at January 1, 2021</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPp0s4jTN0V8" style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><b>928,908</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20210101__20211231_zS8dmQVXKSd" style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt"><b>3.79</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>n/a </b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Granted in March 2021</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--FirstGrantMember_zpprg9uvROsb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted , Number of Units"><span style="font-size: 10pt">61,625</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--FirstGrantMember_za00VHcCwEFe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted, Actual Fair Value on Granting Date"><span style="font-size: 10pt">11.72</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Granted in July 2021</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--SecondGrantMember_zeDTDBxOdN5d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted , Number of Units"><span style="font-size: 10pt">17,720</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--SecondGrantMember_zwu3DvB2G1w3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted, Actual Fair Value on Granting Date"><span style="font-size: 10pt">16.93</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Granted in October 2021</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--ThirdGrantMember_zpxI2cLYvsD8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted , Number of Units"><span style="font-size: 10pt">1,605,000</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--ThirdGrantMember_zbnw3377NV2k" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted, Actual Fair Value on Granting Date"><span style="font-size: 10pt">22.35</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Vested in year ended December 31, 2021</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ze2ctWUIVk2e" title="Vested , Number of Units">(1,063,428)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt">n/a</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zKgOLZfoW786" title="Vested, Actual Fair Value on Vesting Date">16.59</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Unvested as at December 31, 2021</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pip0_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXpUrGTKIttj" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><b>1,549,825</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20220101__20221231_zaZm62Xcinh" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt"><b>22.35</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>n/a </b></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Vested in year ended December 31, 2022</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXN9HnhDWY6k" title="Vested , Number of Units">(218,366)</span></span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt">n/a</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zToMDncKUGRg" title="Vested, Actual Fair Value on Vesting Date">19.36</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Cancelled in May 2022</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pip0_di_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zvQ9Y5D63hTh" title="Cancelled, Number of units">(14,748)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt">n/a</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Unvested as at December 31, 2022</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pip0_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzqEDhiUcWUf" style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, closing balance"><span style="font-size: 10pt"><b>1,316,711</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20220101__20221231_zi2gNB3bxV47" style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, closing balance"><span style="font-size: 10pt"><b>22.35</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>n/a </b></span></td></tr> </table> <p id="xdx_8A1_zfeYQAzhE6Xe" style="font: 9pt Times New Roman, Times, Serif; margin: 3pt 0pt 0pt; text-align: justify"> </p> <p style="font: 9pt Times New Roman, Times, Serif; margin-right: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Using the graded vesting method of expensing the restricted stock unit grants, the weighted average fair value of the stock units is recognized as compensation costs in the Consolidated Statements of Income over the vesting period. The fair value of the restricted stock units for this purpose is calculated by multiplying the number of stock units by the fair value of the shares at the grant date. The Company has not factored any anticipated forfeiture into these calculations based on the limited number of participants. </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">For the years ended December 31, 2022, 2021 and 2020, the Company recognized a total of $<span id="xdx_907_eus-gaap--ShareBasedCompensation_pn3n3_c20220101__20221231_zOQfkc2Uara4" title="Share-based Payment Arrangement, Noncash Expense">10,104</span>, $<span id="xdx_905_eus-gaap--ShareBasedCompensation_pn3n3_c20210101__20211231_zMLNdWOrhWti" title="Share-based Payment Arrangement, Noncash Expense">3,510</span> and $<span id="xdx_903_eus-gaap--ShareBasedCompensation_pn3n3_c20200101__20201231_zKaeNDjl6oVi" title="Share-based Payment Arrangement, Noncash Expense">1,998</span>, respectively, in respect of stock-based compensation.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"/> 1359375 61625 1421000 17720 4 8.00 11.00 14.00 P60D P60D P60D January 2020 January 2021 March 2021 113279 317188 1008253 430467 184270 747604 1438720 931874 408096 1600000 3412500 1500000 3 2021-10-01 2025-09-30 27.00 30.00 P60D 25000 105000 15000 28528 13780 3028972 383528 218366 55175 178723 0 1712261 193569 <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zWf5wuGQdPel" style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt"><span id="xdx_8B2_zb5m23HgeCTc" style="display: none">Share-Based Compensation (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="background-color: white"> <td style="border-bottom: white 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"> </span></td> <td> </td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>Restricted Stock Units</b></span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"> </span></td> <td> </td> <td colspan="7" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Number of Units</span></td></tr> <tr style="background-color: white"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"> </span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt">Number</span></td> <td> </td> <td colspan="2" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Weighted Average</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Fair Value</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">on Grant Date</span></p></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Actual Fair</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Value on</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 10pt">Vesting Date</span></p></td></tr> <tr> <td style="width: 65%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Unvested as at January 1, 2021</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zPp0s4jTN0V8" style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><b>928,908</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20210101__20211231_zS8dmQVXKSd" style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt"><b>3.79</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>n/a </b></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Granted in March 2021</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--FirstGrantMember_zpprg9uvROsb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted , Number of Units"><span style="font-size: 10pt">61,625</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--FirstGrantMember_za00VHcCwEFe" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted, Actual Fair Value on Granting Date"><span style="font-size: 10pt">11.72</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Granted in July 2021</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--SecondGrantMember_zeDTDBxOdN5d" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted , Number of Units"><span style="font-size: 10pt">17,720</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--SecondGrantMember_zwu3DvB2G1w3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted, Actual Fair Value on Granting Date"><span style="font-size: 10pt">16.93</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Granted in October 2021</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--ThirdGrantMember_zpxI2cLYvsD8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted , Number of Units"><span style="font-size: 10pt">1,605,000</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--StatementScenarioAxis__custom--ThirdGrantMember_zbnw3377NV2k" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Granted, Actual Fair Value on Granting Date"><span style="font-size: 10pt">22.35</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Vested in year ended December 31, 2021</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ze2ctWUIVk2e" title="Vested , Number of Units">(1,063,428)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt">n/a</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20210101__20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zKgOLZfoW786" title="Vested, Actual Fair Value on Vesting Date">16.59</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Unvested as at December 31, 2021</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pip0_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXpUrGTKIttj" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><b>1,549,825</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pip0_c20220101__20221231_zaZm62Xcinh" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt"><b>22.35</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>n/a </b></span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Vested in year ended December 31, 2022</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pip0_di_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXN9HnhDWY6k" title="Vested , Number of Units">(218,366)</span></span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt">n/a</span></td> <td> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pip0_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zToMDncKUGRg" title="Vested, Actual Fair Value on Vesting Date">19.36</span></span></td></tr> <tr style="background-color: #CCECFF"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt">Cancelled in May 2022</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, opening balance"><span style="font-size: 10pt"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pip0_di_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zvQ9Y5D63hTh" title="Cancelled, Number of units">(14,748)</span></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, opening balance"><span style="font-size: 10pt">n/a</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">n/a</span></td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Unvested as at December 31, 2022</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pip0_c20220101__20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zzqEDhiUcWUf" style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Number of Units, closing balance"><span style="font-size: 10pt"><b>1,316,711</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pip0_c20220101__20221231_zi2gNB3bxV47" style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Unvested, Weighted Average Fair Value on Grant Date, closing balance"><span style="font-size: 10pt"><b>22.35</b></span></td> <td> </td> <td style="border-bottom: Black 2pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>n/a </b></span></td></tr> </table> 928908 3.79 61625 11.72 17720 16.93 1605000 22.35 1063428 16.59 1549825 22.35 218366 19.36 14748 1316711 22.35 10104000 3510000 1998000 <p id="xdx_80E_eus-gaap--EarningsPerShareTextBlock_zrptKZlRBUM8" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>18. <span id="xdx_82D_ze7UOBlGkate">Earnings per Share</span></b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Under the two-class method, net income, if any, is first reduced by the amount of dividends declared in respect of common shares for the current period, if any, and the remaining earnings are allocated to common shares and participating securities to the extent that each security can share the earnings assuming all earnings for the period are distributed.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: justify"><span style="font-size: 10pt">Earnings are only allocated to participating securities in a period of net income if, based on the contractual terms, the relevant common shareholders have an obligation to participate in such earnings. As a result, earnings are only be allocated to the Class A common shareholders.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt">At December 31, 2022 and 2021, there were <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_pid_c20221231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zXNOoanVx4g3" title="Unvested restricted stock units">1,316,711</span> and <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_pid_c20211231__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZpptwem4dyc" title="Unvested restricted stock units">1,549,825</span>, respectively, shares of incentive share grants unvested as part of senior management’s and non-executive directors incentive awards approved on September 29, 2021.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"/></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>18. Earnings per Share (continued)</b></span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b> </b></span></p> <p id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zj76Os6kI29d" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B9_zTJwPe5VuATg" style="display: none">Earnings/(Loss) per Share (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49E_20220101__20221231_zQJ1QIaSB8kl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_497_20210101__20211231_zjAAGC66uGg7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49E_20200101__20201231_zI3uTeIgP1jf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; width: 65%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b><i/></b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>December 31, 2022</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>December 31, 2021</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>December 31, 2020</b></span></td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareReconciliationAbstract_i01B_zqZHDyFaAmR5"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b><i>Numerator:</i></b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i01_pn3n3_zYV9m3zlg73g" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Net income attributable to common shareholders</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">283,389</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">163,232</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">37,568</span></td></tr> <tr id="xdx_401_eus-gaap--UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_i01N_pn3n3_di0_zIZVrdw0lohi"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Undistributed income attributable to Series C participating preferred shares</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> (15,883)</span></p></td></tr> <tr id="xdx_407_ecustom--NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted_i01_pn3n3_zfbZ2Om8GUh8" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Net income available to common shareholders, basic and diluted</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 283,389</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 163,232</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 21,685</span></p></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_zdFzxRwcKg85" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Net income available to:</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_408_ecustom--NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted_zW0W37L9IEB4"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Class A, basic and diluted</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">283,389</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">163,232</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">21,685</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_iB_zmd33j8iMpEg"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b><i>Denominator:</i></b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Class A Common shares</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Basic weighted average number of common shares outstanding </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGt2LJILLfA4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-size: 10pt">36,603,134</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zIaGEmL10Bhf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-size: 10pt">35,125,003</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zuHjwgrp7ud8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-size: 10pt">17,687,137</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Plus weighted average number of RSUs with service conditions</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEcog2uTT774" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">601,211</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHJKQWyQbVKa" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">383,012</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zcjFQprw1fTl" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">65,388</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Common share and common share equivalents, dilutive</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqiZ54BKBoea" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-size: 10pt">37,204,345</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_982_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbaFEg9vWHpc" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-size: 10pt">35,508,015</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zULewshkjGU3" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-size: 10pt">17,752,525</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareBasicAbstract_iB_zNn4E9ZN3OPk"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Basic earnings per share:</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Class A </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--EarningsPerShareBasic_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zsiBfR32R55e" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.74</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--EarningsPerShareBasic_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBaY3W8vDRR" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4.65</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--EarningsPerShareBasic_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z54e71mkIxMb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.23</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareDilutedAbstract_i01B_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zRopdOjq9V09" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Diluted earnings per share:</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Class A</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSUAAzS0lFVk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.62</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGuDZldzRhe1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4.60</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--EarningsPerShareDiluted_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z91QBXlyvyp4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.22</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Series C Preferred Shares-basic and diluted earnings per share:</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_i01_pn3n3_d0_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_msNILATzDEL_z6JC7uHiupr9" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Undistributed income attributable to Series C participating preferred shares</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b> </b>—</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b> </b>—</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 15,883</span></p></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Basic weighted average number of Series C Preferred shares outstanding, as converted</span></td> <td style="text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z5MUBD9couqi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td id="xdx_98F_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zgB2PtuMA7N9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"/> <p id="xdx_98F_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_za8w4r1vTjA6" style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right" title="Basic weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">12,955,187</span></p></td></tr> <tr id="xdx_40F_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_i01_pip0_d0_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_znN8Xaxki7f7" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Plus weighted average number of RSUs with service conditions</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">47,895</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Dilutive weighted average number of Series C Preferred shares outstanding, as converted</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zZ3RpPU6qEz3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Dilutive weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zEakVTuLYHA2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Dilutive weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z57NEHHe21rh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Dilutive weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">13,003,082</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Basic earnings per share</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--EarningsPerShareBasic_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zDDCCFndap84" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--EarningsPerShareBasic_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zQZtPGfGanZc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--EarningsPerShareBasic_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zJ8X0bUtjAy" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.23</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Diluted earnings per share</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z5uIahpBPzdi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zQBkz4nmiPni" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--EarningsPerShareDiluted_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zyBlIjNjkCNf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.22</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> <p id="xdx_8A0_zLcVM0AdxLS8" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b> </b></p> 1316711 1549825 <p id="xdx_896_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zj76Os6kI29d" style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><span id="xdx_8B9_zTJwPe5VuATg" style="display: none">Earnings/(Loss) per Share (Table)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49E_20220101__20221231_zQJ1QIaSB8kl" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_497_20210101__20211231_zjAAGC66uGg7" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td id="xdx_49E_20200101__20201231_zI3uTeIgP1jf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; width: 65%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b><i/></b></span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>December 31, 2022</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>December 31, 2021</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>December 31, 2020</b></span></td></tr> <tr id="xdx_403_eus-gaap--EarningsPerShareReconciliationAbstract_i01B_zqZHDyFaAmR5"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b><i>Numerator:</i></b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td> </td> <td style="text-align: left; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr id="xdx_409_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_i01_pn3n3_zYV9m3zlg73g" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Net income attributable to common shareholders</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">283,389</span></td> <td> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">163,232</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">37,568</span></td></tr> <tr id="xdx_401_eus-gaap--UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_i01N_pn3n3_di0_zIZVrdw0lohi"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Undistributed income attributable to Series C participating preferred shares</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"/> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> (15,883)</span></p></td></tr> <tr id="xdx_407_ecustom--NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted_i01_pn3n3_zfbZ2Om8GUh8" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Net income available to common shareholders, basic and diluted</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 283,389</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 163,232</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 21,685</span></p></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_40D_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_zdFzxRwcKg85" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Net income available to:</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_408_ecustom--NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted_zW0W37L9IEB4"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Class A, basic and diluted</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">283,389</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">163,232</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt">$</span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">21,685</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_iB_zmd33j8iMpEg"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b><i>Denominator:</i></b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Class A Common shares</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Basic weighted average number of common shares outstanding </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGt2LJILLfA4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-size: 10pt">36,603,134</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_985_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zIaGEmL10Bhf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-size: 10pt">35,125,003</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zuHjwgrp7ud8" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of common shares outstanding"><span style="font-size: 10pt">17,687,137</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Plus weighted average number of RSUs with service conditions</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zEcog2uTT774" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">601,211</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zHJKQWyQbVKa" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">383,012</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98F_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zcjFQprw1fTl" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">65,388</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Common share and common share equivalents, dilutive</span></td> <td style="border-bottom: Black 0.5pt solid; text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqiZ54BKBoea" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-size: 10pt">37,204,345</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_982_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zbaFEg9vWHpc" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-size: 10pt">35,508,015</span></td> <td> </td> <td style="border-bottom: Black 0.5pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zULewshkjGU3" style="border-bottom: Black 0.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Common share and common share equivalents, dilutive"><span style="font-size: 10pt">17,752,525</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_40A_eus-gaap--EarningsPerShareBasicAbstract_iB_zNn4E9ZN3OPk"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Basic earnings per share:</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Class A </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--EarningsPerShareBasic_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zsiBfR32R55e" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.74</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--EarningsPerShareBasic_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zBaY3W8vDRR" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4.65</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--EarningsPerShareBasic_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z54e71mkIxMb" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.23</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareDilutedAbstract_i01B_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zRopdOjq9V09" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Diluted earnings per share:</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Class A</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zSUAAzS0lFVk" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">7.62</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_981_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zGuDZldzRhe1" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">4.60</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98C_eus-gaap--EarningsPerShareDiluted_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z91QBXlyvyp4" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.22</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"><b>Series C Preferred Shares-basic and diluted earnings per share:</b></span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8.05pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_i01_pn3n3_d0_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_msNILATzDEL_z6JC7uHiupr9" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Undistributed income attributable to Series C participating preferred shares</span></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b> </b>—</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"><b> </b>—</span></p></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"><b>$</b></span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font-size: 10pt"> 15,883</span></p></td></tr> <tr> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Basic weighted average number of Series C Preferred shares outstanding, as converted</span></td> <td style="text-align: left; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98E_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z5MUBD9couqi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td id="xdx_98F_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zgB2PtuMA7N9" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Basic weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"/></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"/> <p id="xdx_98F_ecustom--WeightedAverageNumberOfSharesOutstandingBasicExcludingRestrictedStockUnitsWithoutServiceConditions_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_za8w4r1vTjA6" style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right" title="Basic weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">12,955,187</span></p></td></tr> <tr id="xdx_40F_ecustom--WeightedAverageNumberOfRestrictedStockUnitsWithServiceConditions_i01_pip0_d0_hus-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_znN8Xaxki7f7" style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Plus weighted average number of RSUs with service conditions</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">47,895</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Dilutive weighted average number of Series C Preferred shares outstanding, as converted</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98A_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zZ3RpPU6qEz3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Dilutive weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_989_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zEakVTuLYHA2" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Dilutive weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z57NEHHe21rh" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right" title="Dilutive weighted average number of Series C Preferred shares outstanding, as converted"><span style="font-size: 10pt">13,003,082</span></td></tr> <tr style="background-color: #CCECFF"> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Basic earnings per share</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_988_eus-gaap--EarningsPerShareBasic_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zDDCCFndap84" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--EarningsPerShareBasic_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zQZtPGfGanZc" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--EarningsPerShareBasic_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zJ8X0bUtjAy" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.23</span></td></tr> <tr> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 10pt">Diluted earnings per share</span></td> <td style="text-align: left; white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 8pt"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20220101__20221231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_z5uIahpBPzdi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt"><b>—</b></span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--EarningsPerShareDiluted_pip0_d0_c20210101__20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zQBkz4nmiPni" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">—</span></td> <td> </td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--EarningsPerShareDiluted_pip0_c20200101__20201231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zyBlIjNjkCNf" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><span style="font-size: 10pt">1.22</span></td></tr> </table> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p> 283389000 163232000 37568000 -0 -0 15883000 283389000 163232000 21685000 283389000 163232000 21685000 36603134 35125003 17687137 601211 383012 65388 37204345 35508015 17752525 7.74 4.65 1.23 7.62 4.60 1.22 0 0 15883000 0 0 12955187 0 0 47895 0 0 13003082 0 0 1.23 0 0 1.22 <p id="xdx_80F_eus-gaap--SubsequentEventsTextBlock_z9HmVxLrLCu9" style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: left"><span style="font-size: 10pt"><b>19. <span id="xdx_821_zjbF5ZL3we55">Subsequent events</span></b></span><b> </b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"/> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"> </span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">From January 1, 2023 and up to January 27, 2023, the Company repurchased a total of <span id="xdx_90F_eus-gaap--StockRepurchasedAndRetiredDuringPeriodShares_pip0_c20230101__20230127__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zXozrgfVb5Z8" title="Shares repurchased">582,178</span> common shares for a total investment of $<span id="xdx_905_eus-gaap--StockRepurchasedDuringPeriodValue_pn3n3_c20230101__20230127__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zchLr0QXd5oe">10,000</span>.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-size: 10pt">In February 2023, the Company declared a dividend of $<span id="xdx_90D_eus-gaap--DividendsPayableAmountPerShare_iI_uUSDPShares_c20230201__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--DividendDeclaredMember_zm2zSRCGfrLf">0.375 </span></span><span style="font-size: 10pt">per Class A common share from the earnings of the fourth quarter of 2022 to be paid on <span id="xdx_909_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20230101__20230201__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--DividendDeclaredMember_ze4Z6umrMcoe">March 6, 2023</span></span> <span style="font-size: 10pt">to common shareholders of record as of <span id="xdx_90A_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20230101__20230201__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--DividendDeclaredMember_znXkuj0AY5ml">February 22, 2023</span></span> <span style="font-size: 10pt">amounting to $<span id="xdx_903_eus-gaap--Dividends_pn3n3_c20230101__20230201__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--DividendDeclaredMember_zTdVUe8AwZMa">13,548</span></span><span style="font-size: 10pt">.</span></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2023, the Company agreed to sell GSL Amstel, a<span id="xdx_90A_ecustom--NumberOfVesselsSold_dc_uPure_c20230101__20230228__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAmstelIIMember_zfsfk9SlM2hh" style="display: none">One </span></span><span id="xdx_901_ecustom--CapacityOfVesselsInTwentyFootEquivalentUnits_uPure_c20230101__20230228__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--GSLAmstelIIMember_zNK6mhDKHUu8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 1,118 </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEU feeder and non-core asset with imminent special survey and dry-docking requirements, for approximately its book value as at December 31, 2022.</span></p> 582178 10000000 0.375 2023-03-06 2023-02-22 13548000 1 1118 Advances from charterers. The charters of these vessels resulted in an intangible liability of $3,051 that was recognized and amortized over the remaining useful life of the charters. As of December 31, 2022, the intangible liability relating to the Seven Vessels had been fully amortized. Includes mainly current portion of the straight-line basis of revenue recognition.