|
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Revenues: |
|
|
|
| Voyage revenues |
$ 224,179 |
$ 223,159 |
$ 388,929 |
| Service revenues |
3,285 |
3,294 |
3,285 |
| Total revenues |
227,464 |
226,453 |
392,214 |
| Operating expenses: |
|
|
|
| Voyage expenses |
8,046 |
7,009 |
4,457 |
| Vessel operating expenses |
111,671 |
114,318 |
105,514 |
| General, administrative and management fees |
34,031 |
35,673 |
33,928 |
| Depreciation and amortization |
140,743 |
139,063 |
136,203 |
| Other operating income |
(121) |
(265) |
(527) |
| Total operating expenses |
294,370 |
295,798 |
279,575 |
| Operating (loss) income |
(66,906) |
(69,345) |
112,639 |
| Other (expense) income: |
|
|
|
| Other expense |
(76) |
(29) |
(80) |
| Interest income |
75 |
378 |
616 |
| Interest expense |
(88,216) |
(87,558) |
(86,722) |
| Other expense |
(88,217) |
(87,209) |
(86,186) |
| (Loss) income before income taxes |
(155,123) |
(156,554) |
26,453 |
| Income tax expense |
(1,898) |
(1,222) |
(1,385) |
| Net (loss) income |
(157,021) |
(157,776) |
25,068 |
| Less: Net loss attributable to noncontrolling interest |
(9,280) |
(12,848) |
(318) |
| Net (loss) income attributable to Genco Shipping & Trading Limited |
$ (147,741) |
$ (144,928) |
$ 25,386 |
| Net (loss) income per share-basic (in dollars per share) |
$ (3.42) |
$ (3.47) |
$ 0.72 |
| Net (loss) income per share-diluted (in dollars per share) |
$ (3.42) |
$ (3.47) |
$ 0.72 |
| Weighted average common shares outstanding-basic (in shares) |
43,249,070 |
41,727,075 |
35,179,244 |
| Weighted average common shares outstanding-diluted (in shares) |
43,249,070 |
41,727,075 |
35,258,205 |
| Dividends declared per share (in dollars per share) |
$ 0 |
$ 0 |
$ 0 |