Fair Value of Financial Instruments (Tables)
|
6 Months Ended |
Jun. 30, 2022 |
|---|
| Fair Value Of Financial Instruments |
|
| Fair Value of Financial Instruments - Fair Value |
| |
|
June 30, 2022 |
|
|
December 31, 2021 |
| |
|
Book Value |
|
|
Fair Value |
|
|
Book Value |
|
|
Fair Value |
| Cash and cash equivalents |
|
$ |
46,220 |
|
|
$ |
46,220 |
|
|
$ |
53,591 |
|
|
$ |
53,591 |
| Restricted cash |
|
$ |
8,726 |
|
|
$ |
8,726 |
|
|
$ |
84,260 |
|
|
$ |
84,260 |
| Investments in available-for-sale-securities |
|
$ |
220 |
|
|
$ |
220 |
|
|
$ |
219 |
|
|
$ |
219 |
| Senior and ship mortgage notes, net |
|
$ |
(584,450) |
|
|
$ |
(572,943) |
|
|
$ |
(1,101,931) |
|
|
$ |
(1,142,545) |
| Long-term debt, including current portion |
|
$ |
(379,374) |
|
|
$ |
(382,536) |
|
|
$ |
(171,919) |
|
|
$ |
(173,213) |
| Loans payable to affiliate companies, including current portion and Convertible Debenture |
|
$ |
(308,065) |
|
|
$ |
(310,269) |
|
|
$ |
(112,634) |
|
|
$ |
(112,634) |
|
| Fair Value of Financial Instruments - Fair value measurements on a recurring basis |
| |
|
Fair Value Measurements as of June 30, 2022 |
| |
|
Total |
|
Quoted Prices in Active Markets for Identical Assets (Level I) |
|
Significant Other Observable Inputs (Level II) |
|
Significant Unobservable Inputs (Level III) |
| Investments in available-for-sale-securities |
|
$ |
220 |
| $ |
220 |
| $ |
— |
|
$ |
— |
| Total |
|
$ |
220 |
| $ |
220 |
|
$ |
— |
| $ |
— |
| |
|
Fair Value Measurements as of December 31, 2021 |
| |
|
Total |
|
Quoted Prices in Active Markets for Identical Assets (Level I) |
|
Significant Other Observable Inputs (Level II) |
|
Significant Unobservable Inputs (Level III) |
| Investments in available-for-sale-securities |
|
$ |
219 |
|
$ |
219 |
|
$ |
— |
|
$ |
— |
| Total |
|
$ |
219 |
|
$ |
219 |
|
$ |
— |
|
$ |
— |
|
| Fair Value of Financial Instruments - Assets measured at Fair Value on a Non-Recurring Basis |
| |
|
Fair Value Measurements as of December 31, 2021 |
| |
|
Total |
|
Quoted Prices in Active Markets for Identical Assets (Level I) |
|
Significant Other Observable Inputs (Level II) |
|
Significant Unobservable Inputs (Level III) |
| Vessels, port terminals and other fixed assets, net |
|
$ |
7,500 |
|
$ |
— |
|
$ |
7,500 |
|
$ |
— |
| Total |
|
$ |
7,500 |
|
$ |
— |
|
$ |
7,500 |
|
$ |
— |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fair Value of Financial Instruments - Fair value measurements |
| |
|
Fair Value Measurements at June 30, 2022 |
| |
|
Total |
|
(Level I) |
|
(Level II) |
|
(Level III) |
| Cash and cash equivalents |
|
$ |
46,220 |
|
$ |
46,220 |
|
$ |
— |
|
$ |
— |
| Restricted cash |
|
$ |
8,726 |
|
$ |
8,726 |
|
$ |
— |
|
$ |
— |
| Investments in available-for-sale-securities |
|
$ |
220 |
|
$ |
220 |
|
$ |
— |
|
$ |
— |
| Senior and ship mortgage notes |
|
$ |
(572,943) |
|
$ |
(564,317) |
|
$ |
(8,626) |
|
$ |
— |
| Long-term debt, including current portion(1) |
|
$ |
(382,536) |
|
$ |
— |
|
$ |
(382,536) |
|
$ |
— |
| Loans payable to affiliate companies, including current portion(2) and Convertible Debenture |
|
$ |
(310,269) |
|
$ |
— |
|
$ |
(310,269) |
|
$ |
— |
| |
|
Fair Value Measurements at December 31, 2021 |
| |
|
Total |
|
(Level I) |
|
(Level II) |
|
(Level III) |
| Cash and cash equivalents |
|
$ |
53,591 |
|
$ |
53,591 |
|
$ |
— |
|
$ |
— |
| Restricted cash |
|
$ |
84,260 |
|
$ |
84,260 |
|
$ |
— |
|
$ |
— |
| Investments in available-for-sale-securities |
|
$ |
219 |
|
$ |
219 |
|
$ |
— |
|
$ |
— |
| Senior and ship mortgage notes |
|
$ |
(1,142,545) |
|
$ |
(1,133,919) |
|
$ |
(8,626) |
|
$ |
— |
| Long-term debt, including current portion(1) |
|
$ |
(173,213) |
|
$ |
— |
|
$ |
(173,213) |
|
$ |
— |
| Loans payable to affiliate companies, including current portion(2) |
|
$ |
(112,634) |
|
$ |
— |
|
$ |
(112,634) |
|
$ |
— |
| (1) |
The fair value of the Company’s long-term debt is estimated based on currently available debt with similar contract terms, interest rates and remaining maturities, published quoted market prices as well as taking into account the Company’s creditworthiness. |
| (2) |
The fair value of the Company’s loans payable to affiliate companies, including Convertible Debenture is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities as well as taking into account the counterparty’s creditworthiness. |
|