| Sep'18 | Sep'17 | |||||
|---|---|---|---|---|---|---|
Cash flow from operating activities | ||||||
Net income/(loss) | ||||||
21,475 | 5,067 | |||||
Items included in net income not affecting cash flows | ||||||
35,278 | 28,432 | |||||
Depreciation | ||||||
-26,682 | -26,468 | |||||
Impairment charges | ||||||
3,500 | 0 | |||||
Amortization of debt issuance costs | ||||||
1,878 | 1,773 | |||||
(Profit)/loss, sale of vessel | ||||||
0 | 0 | |||||
Fair value (gain)/loss on derivative financial instruments | ||||||
486 | 478 | |||||
Compensation related to options and restricted stock | ||||||
304 | 904 | |||||
(Gain)/loss purchase of convertible bond | ||||||
3,589 | 0 | |||||
Share of profit in associated companies | ||||||
189 | 235 | |||||
Income adjusted for non-cash items | ||||||
-13,803 | -23,365 | |||||
Changes in operating assets and liabilities | ||||||
18,169 | 5,812 | |||||
Accounts receivable and accrued revenues | ||||||
-11,622 | -701 | |||||
Capitalized voyage expenses | ||||||
1,157 | 0 | |||||
Prepaid expenses | ||||||
-2,320 | 298 | |||||
Accounts payable and accrued expenses | ||||||
-1,407 | -2,966 | |||||
Deferred shipping revenues | ||||||
-1,352 | 435 | |||||
Bunkers, lube oils and consumables | ||||||
-2,650 | -2,878 | |||||
Pension liability | ||||||
24 | 0 | |||||
Net cash provided by/(used in) operating activities | ||||||
-4,367 | 17,553 | |||||
CASH FLOW FROM INVESTING ACTIVITIES | ||||||
Investment in vessels | ||||||
-5 | -5,864 | |||||
Investment in vessels under construction | ||||||
-58,673 | -9,372 | |||||
Sale of vessels | ||||||
0 | 0 | |||||
Investment in property, plant and equipment | ||||||
1 | -47 | |||||
Net cash used in investing activities | ||||||
-58,677 | -15,282 | |||||
CASH FLOW FROM FINANCING ACTIVITIES | ||||||
Cash dividends paid | ||||||
-2,872 | -2,847 | |||||
Issuance of long-term debt | ||||||
50,742 | -79 | |||||
Purchase of convertible bonds | ||||||
0 | 0 | |||||
Issuance of convertible bonds | ||||||
39,346 | 0 | |||||
Scheduled repayment of long-term debt | ||||||
-14,543 | -16,801 | |||||
Repayment of long-term debt refinancing | ||||||
0 | 0 | |||||
Repayment of long-term debt, sale of vessels | ||||||
0 | 0 | |||||
Net cash provided by/(used in) financing activities | ||||||
72,673 | -19,727 | |||||
Net increase/(decrease) in cash and cash equivalents | ||||||
9,630 | -17,456 | |||||
Specification of items included in operating activities: | ||||||
Interest paid | ||||||
13,253 | 9,227 | |||||
Interest received | ||||||
73 | 28 | |||||