XML 48 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
REVENUE:    
Voyage Revenues $ 49,670 $ 52,185
Management fee income 137 0
Total revenues 49,807 52,185
EXPENSES:    
Voyage expenses (Note 3) 14,029 11,021
Vessel operating expenses 14,169 10,671
Dry docking expenses 1,026 1,358
Depreciation 19,197 24,009
Management fees 0 54
Gain on derivative instruments (Note 14) (64) (21)
General and administrative expenses (Note 3) 5,337 7,014
Gain on time charter agreement termination (Note 6) (6,454) (1,806)
Other operational loss (Note 10) 0 4,050
Other operational gain (Note 9) (140) (9,240)
Loss on sale of vessel (Note 5) 3,164 0
Total Operating Expenses 50,264 47,110
Operating income/(loss) (457) 5,075
OTHER INCOME (EXPENSES)    
Interest and finance costs (Note 7) (4,142) (2,041)
Interest and other income 139 346
Total other expenses, net (4,003) (1,695)
Net income/(loss) $ (4,460) $ 3,380
Earnings/ (loss) per share, basic (Note 11) $ (0.055) $ 0.053
Earnings/ (loss) per share, diluted (Note 11) $ (0.055) $ 0.053
Weighted average number of shares outstanding, basic 80,780,384 63,364,120
Weighted average common shares outstanding, diluted 80,780,384 63,438,838