| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
Operating revenues | |||||||||
Other operating gains (losses) | |||||||||
- | - | - | - | - | - | - | - | 3,061 | 142,293 |
Bareboat charter revenues | |||||||||
- | - | - | - | - | 33,373 | 47,101 | 71,370 | 64,526 | 57,152 |
Voyage charter revenues | |||||||||
518,156 | 502,284 | 331,388 | 202,283 | 94,383 | 452,890 | 510,808 | 708,008 | 565,331 | 1,425,968 |
Time charter revenues | |||||||||
106,237 | 226,058 | 121,091 | 37,928 | 39,517 | 66,313 | 144,617 | 365,159 | 486,361 | 602,980 |
Finance lease interest income | |||||||||
1,748 | 2,194 | 577 | 0 | 0 | - | - | - | - | - |
Other income | |||||||||
20,185 | 23,770 | 5,878 | 1,615 | 0 | 25,785 | 20,969 | 20,678 | 17,068 | 17,918 |
Total operating revenues | |||||||||
646,326 | 754,306 | 458,934 | 241,826 | 133,900 | 578,361 | 723,495 | 1,165,215 | 1,133,286 | 2,104,018 |
Other operating gains (losses) | |||||||||
2,381 | -2,683 | 108,923 | 68,989 | - | - | - | - | - | - |
Gain on cancellation and sale of newbuilding contracts | |||||||||
- | - | - | - | 57,271 | - | - | - | - | - |
Gain on sale of assets and amortization of deferred gains | |||||||||
- | - | - | - | - | 34,759 | -280,803 | 30,935 | - | - |
Operating Expenses [Abstract] | |||||||||
Voyages expenses and commissions | |||||||||
259,334 | 161,641 | 109,706 | 103,708 | 63,438 | 269,845 | 291,524 | 282,708 | 219,375 | 592,188 |
Contingent rental income | |||||||||
26,148 | 18,621 | 0 | 0 | - | -22,456 | 0 | 0 | - | - |
Ship operating expenses | |||||||||
135,728 | 119,515 | 64,357 | 49,607 | 32,983 | 118,381 | 159,132 | 195,679 | 206,381 | 213,766 |
Profit share expense | |||||||||
- | - | - | - | - | - | - | 30,566 | 33,018 | 110,962 |
Charter hire expense | |||||||||
19,705 | 67,846 | 43,387 | 0 | 0 | 37,461 | 65,601 | 134,551 | 169,503 | 220,170 |
Impairment loss on vessels | |||||||||
164,187 | 61,692 | 0 | 0 | - | 4,726 | 121,443 | 0 | 0 | - |
Impairment loss on goodwill | |||||||||
112,821 | 0 | 0 | - | - | - | - | - | - | - |
Provision for uncollectible receivable | |||||||||
0 | 4,000 | 0 | 0 | - | - | - | - | - | - |
Administrative expenses | |||||||||
37,603 | 37,026 | 10,582 | 4,943 | 3,851 | 33,906 | 35,886 | 31,883 | 30,647 | 35,226 |
Depreciation | |||||||||
141,748 | 141,043 | 52,607 | 31,845 | 25,144 | 107,437 | 175,890 | 212,851 | 237,313 | 223,519 |
Total operating expenses | |||||||||
844,978 | 574,142 | 280,639 | 190,103 | 125,416 | 594,212 | 849,476 | 888,238 | 896,237 | 1,395,831 |
Net operating income | |||||||||
-196,271 | 177,481 | 287,218 | 120,712 | 65,755 | 18,908 | -406,784 | 307,912 | 240,110 | 850,480 |
Other income (expenses) | |||||||||
Interest income | |||||||||
588 | 367 | 47 | 118 | 29 | 130 | 3,958 | 13,432 | 22,969 | 41,204 |
Interest expense | |||||||||
69,815 | 56,687 | 17,621 | 7,421 | 12,044 | 94,089 | 136,042 | 149,918 | 160,988 | 183,925 |
Gain on sale of shares | |||||||||
1,061 | 0 | 0 | 16,850 | 0 | - | - | - | - | - |
Gain on sale of securities | |||||||||
0 | 0 | 2,727 | 16,064 | 8,783 | -4 | -600 | -515 | -544 | -901 |
Impairment loss on shares | |||||||||
0 | -7,233 | -10,507 | 0 | 0 | - | - | - | - | - |
Foreign currency exchange gain (loss) | |||||||||
-55 | 9 | 134 | 18 | -6 | 84 | 106 | 622 | -346 | 1,565 |
Gain (loss) on derivatives | |||||||||
-753 | 3,718 | -6,782 | -8,779 | 7,083 | -1,725 | 390 | -19 | 0 | -17,399 |
Impairment of securities | |||||||||
- | - | - | - | - | - | - | 9,425 | 0 | 25,134 |
Loss on sale of securities | |||||||||
- | - | - | - | - | - | 3,355 | 0 | 0 | -221 |
Gain on redemption of debt | |||||||||
- | - | - | - | - | 4,600 | 0 | 0 | - | - |
Debt conversion expense | |||||||||
- | - | - | - | - | 0 | 0 | - | - | - |
Loss from de-consolidation of subsidiaries | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Dividends received, net | |||||||||
- | - | - | - | - | 134 | 113 | -278 | 3,087 | 1,552 |
Other non-operating items | |||||||||
1,213 | 204 | 320 | -148 | -101 | 1,110 | 12,005 | 2,411 | 1,545 | 34,043 |
Net other expenses | |||||||||
-67,761 | -59,622 | -31,682 | 16,702 | 3,744 | -89,760 | -123,425 | -143,690 | -134,277 | -149,216 |
Net income (loss) before income taxes and non-controlling interest | |||||||||
-264,032 | 117,859 | 255,536 | 137,414 | 69,499 | -70,852 | -530,209 | 164,222 | 105,833 | 701,264 |
Income tax expense | |||||||||
290 | 345 | 150 | 0 | 0 | 379 | 532 | 218 | 361 | 310 |
Net (loss) income from continuing operations | |||||||||
-264,322 | 117,514 | 255,386 | 137,414 | 69,499 | -71,231 | -530,741 | - | - | - |
Net loss from discontinued operations | |||||||||
0 | 0 | -131,006 | -51,159 | 0 | -12,544 | 1,731 | - | - | - |
Net income (loss) | |||||||||
-264,322 | 117,514 | 124,380 | 86,255 | 69,499 | -83,775 | -529,010 | 164,004 | 105,472 | 700,954 |
Net (income) loss attributable to non-controlling interest | |||||||||
539 | 504 | -30,244 | -63,214 | 0 | -1,021 | 591 | 2,597 | 2,771 | -2,184 |
Net income (loss) attributable to the Company | |||||||||
-264,861 | 117,010 | 154,624 | 149,469 | 69,499 | -82,754 | -529,601 | 161,407 | 102,701 | 698,770 |
Basic and diluted earnings per share attributable to the Company from continuing operations (in dollars per share) | |||||||||
-1.56 | 0.75 | 2.13 | 1.10 | 0.61 | 0.00 | -6.82 | - | - | - |
Basic and diluted (loss) earnings per share attributable to the Company from discontinued operations (in dollars per share) | |||||||||
0.00 | 0.00 | -0.84 | 0.10 | 0.00 | 0.00 | 0.02 | - | - | - |
Basic and diluted earnings (loss) per share attributable to the Company (USD per share) | |||||||||
-1.56 | 0.75 | 1.29 | 1.19 | 0.61 | 0.00 | -6.80 | - | - | - |
Weighted average shares outstanding, basic and diluted (in 000's) | |||||||||
- | - | - | - | - | 77,859 | 77,859 | - | - | - |
Basic (loss) earnings per share (in dollars per share) | |||||||||
- | - | - | - | - | - | - | 2.07 | 1.32 | 9.15 |
Weighted average shares outstanding, basic (in 000's) | |||||||||
- | - | - | - | - | - | - | 77,859 | 77,859 | 76,353 |
Diluted (loss) earnings per share (in dollars per share) | |||||||||
- | - | - | - | - | - | - | 2.01 | 1.32 | 9.14 |
Weighted average shares outstanding, diluted (in 000's) | |||||||||
- | - | - | - | - | - | - | 83,803 | 77,867 | 76,442 |
Cash dividends per share declared (USD per share) | |||||||||
0.30 | 1.05 | 0.25 | 4.46 | 0.64 | 0.00 | 0.22 | 2.00 | 0.90 | 8.25 |