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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Current Assets    
Cash and cash equivalents $ 15,072 $ 12,824
Restricted cash (Note 8 and Note 19) 4,159 1,550
Trade accounts receivable, net (Note 17) 4,762 4,652
Inventories (Note 4) 3,867 1,094
Due from managers 70 75
Accrued income 0 397
Prepaid expenses and other receivables 3,467 3,326
Total Current Assets 31,397 23,918
FIXED ASSETS    
Advances for vessels under construction (Note 5) 0 43,473
Vessels and other fixed assets, net (Note 6) 638,532 610,817
Total Fixed Assets 638,532 654,290
OTHER NON-CURRENT ASSETS    
Deferred finance charges 1,776 1,022
Restricted cash (Note 8) 25,524 24,020
Fair value of above market acquired time charter (Note 7) 20,699 0
TOTAL ASSETS 717,928 703,250
Current Liabilities    
Current portion of long term debt (Note 8) 34,674 33,785
Accounts payable 8,501 3,233
Due to related parties (Note 3) 436 603
Due to managers 48 55
Accrued liabilities (Note 14) 3,870 1,865
Derivative instruments(Note 19) 82 0
Deferred revenue 4,543 3,694
Total Current Liabilities 52,154 43,235
NON - CURRENT LIABILITIES    
Long term debt (Note 8) 231,466 171,044
Fair value of below market acquired time charter (Note 7) 0 452
Deferred revenue 0 203
Other non-current liabilities 95 64
TOTAL LIABILITIES 283,715 214,998
Commitments & Contingencies (Note 16) 0 0
Stockholders' Equity    
Preferred Stock; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2010 and 2011 (Note 9) 0 0
Common Stock, $0.01 par value, 300,000,000 shares authorized at December 31, 2010 and 2011 respectively; 63,410,360 and 80,358,360 shares issued and outstanding at December 31, 2010 and 2011, respectively 804 634
Additional paid in capital (Note 9) 519,511 489,770
Accumulated deficit (86,102) (2,152)
Total Stockholders' Equity 434,213 488,252
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 717,928 $ 703,250