| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Revenues: | ||||||||
Voyage revenues | ||||||||
331,976 | 221,987 | 234,035 | 145,041 | 68,296 | 85,684 | 106,912 | 121,042 | 142,351 |
Management fee income | ||||||||
0 | 119 | 251 | 2,346 | 1,598 | 478 | 153 | 0 | 0 |
Total revenues | ||||||||
331,976 | 222,106 | 234,286 | 147,387 | 69,894 | 86,162 | 107,065 | 121,042 | 142,351 |
Expenses | ||||||||
Voyage expenses | ||||||||
64,682 | 65,821 | 72,877 | 42,341 | 7,549 | 19,598 | 22,429 | 16,839 | - |
Charter-in hire expenses | ||||||||
5,325 | 3,550 | 1,025 | 0 | 0 | - | - | - | - |
Voyage expenses (Note 18) | ||||||||
- | - | - | - | - | - | - | - | 15,374 |
Vessel operating expenses | ||||||||
101,428 | 98,830 | 112,796 | 53,096 | 27,087 | 27,832 | 25,247 | 22,349 | 30,168 |
Dry docking expenses | ||||||||
4,262 | 6,023 | 14,950 | 5,363 | 3,519 | 5,663 | 3,096 | 6,576 | 6,122 |
Depreciation | ||||||||
82,623 | 81,935 | 82,070 | 37,150 | 16,061 | 33,045 | 50,224 | 46,937 | 58,298 |
Management fees | ||||||||
7,543 | 7,604 | 8,436 | 158 | 0 | 0 | 54 | 164 | 771 |
General and administrative expenses | ||||||||
30,955 | 24,602 | 23,621 | 32,723 | 9,910 | 9,320 | 12,455 | 15,404 | 8,742 |
Bad debt expense | ||||||||
- | - | - | 215 | 0 | 0 | 3,139 | 2,131 | 0 |
Impairment loss (Note 5, Note 6 and Note 18) | ||||||||
0 | 29,221 | 321,978 | 0 | 0 | 303,219 | 62,020 | 34,947 | 75,208 |
Loss on time-charter agreement termination (Note 7) | ||||||||
0 | 0 | -2,114 | 0 | 0 | 6,454 | 2,010 | - | - |
Gain on time charter agreement termination (Note 7) | ||||||||
- | - | - | - | - | - | - | 0 | 16,219 |
Loss on time charter agreement termination (Note 7) | ||||||||
- | - | - | - | - | - | - | - | 11,040 |
Other operational loss | ||||||||
989 | 503 | 0 | 94 | 1,125 | 1,226 | 4,050 | 0 | 0 |
Other operational gain (Note 9) | ||||||||
2,918 | 1,565 | 592 | 10,003 | 3,787 | 3,507 | 9,260 | 26,648 | 0 |
(Gain)/Loss on forward freight agreements and bunker swaps (Note 13) | ||||||||
-841 | 411 | 0 | 0 | - | - | - | - | - |
(Gain)/Loss on sale of vessels (Note 5) | ||||||||
2,598 | -15,248 | -20,585 | 0 | -87 | -3,190 | 0 | 0 | - |
Gain from bargain purchase (Note 1) | ||||||||
- | - | - | 12,318 | 0 | 0 | - | - | - |
Total Operating Expenses | ||||||||
293,132 | 331,361 | 659,860 | 148,819 | 61,551 | 393,132 | 171,834 | 120,782 | 191,658 |
Operating income / (loss) | ||||||||
38,844 | -109,255 | -425,574 | -1,432 | 8,343 | -306,970 | -64,769 | 260 | -49,307 |
Other Income/ (Expenses): | ||||||||
Interest and finance costs (Note 7) | ||||||||
50,458 | 41,217 | 29,661 | 9,575 | 6,814 | 7,838 | 5,227 | 5,916 | 9,914 |
Interest and other income/(loss) | ||||||||
2,997 | 876 | 1,090 | 629 | 230 | 246 | 744 | 525 | 806 |
Gain / (Loss) on derivative financial instruments, net (Note 13) | ||||||||
246 | -2,116 | -3,268 | -799 | 91 | 41 | -390 | -2,083 | -2,154 |
Loss on debt extinguishment (Note 7) | ||||||||
-1,257 | -2,375 | -974 | -652 | 0 | 0 | -307 | 0 | - |
Loss on debt extinguishment (Note 8) | ||||||||
- | - | - | - | - | - | - | - | 0 |
Total other expenses, net | ||||||||
-48,472 | -44,832 | -32,813 | -10,397 | -6,493 | -7,551 | -4,790 | -5,391 | -9,108 |
Income/(Loss) before equity in income of investee | ||||||||
-9,628 | -154,087 | -458,387 | -11,829 | - | - | - | - | - |
Income/(Loss) before equity in income of investee | ||||||||
- | - | - | - | 1,850 | -314,521 | - | - | - |
Equity in income of investee | ||||||||
93 | 126 | 210 | 106 | 0 | 0 | - | - | - |
Income / (loss) before taxes | ||||||||
-9,535 | -153,961 | -458,177 | -11,723 | - | - | - | - | - |
Income taxes | ||||||||
236 | 267 | 0 | 0 | - | - | - | - | - |
Net income/(loss) | ||||||||
-9,771 | -154,228 | -458,177 | -11,723 | 1,850 | -314,521 | -69,559 | -5,131 | -58,415 |
Earnings / (Loss) per share, basic | ||||||||
-0.16 | -3.24 | -11.71 | -1.00 | 0.13 | - | - | - | - |
Earnings / (Loss) per share, diluted | ||||||||
-0.16 | -3.24 | -11.71 | -1.00 | 0.13 | - | - | - | - |
Weighted average number of shares outstanding, basic (Note 10) | ||||||||
63,034 | 47,574 | 39,124 | 11,688 | 14,051 | 5,393 | 4,736 | - | - |
Weighted average number of shares outstanding, diluted (Note 10) | ||||||||
63,034 | 47,574 | 39,124 | 11,688 | 14,116 | 5,393 | 4,736 | - | - |
Earnings / (Loss) per share, basic and diluted (Note 11) | ||||||||
- | - | - | - | - | -58.32 | -14.69 | -1.25 | -0.96 |
Weighted average number of shares outstanding, basic and diluted (Note 11) | ||||||||
- | - | - | - | - | - | - | 4,099 | - |
Weighted average number of shares outstanding, basic and diluted (Note 12) | ||||||||
- | - | - | - | - | - | - | - | 60,873 |