| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Cash flow from operating activities | ||||||
Net income/(loss) | ||||||
-6,602 | -9,260 | -105,302 | ||||
Depreciation | ||||||
-96,758 | -84,340 | -78,698 | ||||
Impairment charges | ||||||
8,540 | 84,700 | 0 | ||||
Amortization of upfront fees | ||||||
7,375 | 7,997 | 7,521 | ||||
(Profit)/loss, sale of vessel | ||||||
-3,540 | 138 | -807 | ||||
Fair value (gain)/loss on derivative financial instruments | ||||||
2,154 | 3,235 | 3,603 | ||||
Compensation related to options and restricted stock | ||||||
4,948 | 7,365 | 6,910 | ||||
(Gain)/loss purchase of convertible bond | ||||||
-1,035 | 0 | 0 | ||||
Share of profit in associated companies | ||||||
802 | 649 | 467 | ||||
Unrealized currency translation (gains)/losses | ||||||
0 | 255 | -98 | ||||
Accounts receivable and accrued revenues | ||||||
9,869 | -7,751 | 11,385 | ||||
Prepaid expenses | ||||||
-430 | 1,087 | 1,568 | ||||
Accounts payable and accrued expenses | ||||||
-5,407 | 1,557 | 8,998 | ||||
Deferred shipping revenues | ||||||
2,154 | 1,422 | -1,147 | ||||
Bunkers, lube oils and consumables | ||||||
-15,769 | 938 | 7,062 | ||||
Net cash provided by/(used in) operating activities | ||||||
101,817 | 194,008 | 181,526 | ||||
CASH FLOW FROM INVESTING ACTIVITIES | ||||||
Investment in vessels | ||||||
-165,649 | -13,260 | -1,987 | ||||
Investment in vessels under construction | ||||||
-132,536 | -222,104 | -142,560 | ||||
Sale of vessels | ||||||
111,418 | 22,233 | 26,500 | ||||
Investment in subsidiary, net of cash acquired | ||||||
0 | 0 | -7,562 | ||||
Dividend received from associated company | ||||||
415 | 242 | 120 | ||||
Investment in property, plant and equipment | ||||||
-193 | -144 | -419 | ||||
Net cash used in investing activities | ||||||
-186,545 | -213,033 | -125,907 | ||||
CASH FLOW FROM FINANCING ACTIVITIES | ||||||
Cash dividends paid | ||||||
23,328 | 66,365 | 49,194 | ||||
Issuance of long-term debt | ||||||
200,452 | 219,248 | 99,400 | ||||
Purchase of treasury shares | ||||||
0 | -2,031 | 0 | ||||
Purchase of convertible bonds | ||||||
17,104 | 25,334 | 0 | ||||
Scheduled repayment of long-term debt | ||||||
-107,295 | -163,972 | -105,734 | ||||
Net cash provided by/(used in) financing activities | ||||||
52,725 | -38,454 | -55,528 | ||||
Net increase/(decrease) in cash and cash equivalents | ||||||
-32,003 | -57,480 | 91 | ||||
Specification of items included in operating activities: | ||||||
Interest paid | ||||||
32,253 | 27,539 | 26,505 | ||||
Interest received | ||||||
140 | 66 | 140 | ||||