XML 83 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
Voyage revenues $ 68,296 $ 85,684 $ 106,912
Management fee income (Note 3) 1,598 478 153
Total revenues 69,894 86,162 107,065
Expenses      
Voyage expenses (Note 18) 7,549 19,598 22,429
Vessel operating expenses (Note 18) 27,087 27,832 25,247
Dry docking expenses 3,519 5,663 3,096
Depreciation 16,061 33,045 50,224
Management fees 0 0 54
Loss/(gain) on derivative instruments, net (Note 19) (91) (41) 390
General and administrative expenses 9,910 9,320 12,455
Bad debt expense (Note 17a) 0 0 3,139
Vessel impairment loss (Note 5 and Note 19) 0 303,219 62,020
Gain on time charter agreement termination (Note 8) 0 (6,454) (2,010)
Other operational loss (Note 12) 1,125 1,226 4,050
Other operational gain (Note 11) (3,787) (3,507) (9,260)
Loss on sale of vessel (Note 5) 87 3,190 0
Total Operating Expenses 61,460 393,091 171,834
Operating (loss) / income 8,434 (306,929) (64,769)
Other Income / (Expenses):      
Interest and finance costs (Note 9) (6,814) (7,838) (5,227)
Interest and other income 230 246 744
Loss on debt extinguishment (Note 9) 0 0 (307)
Total other expenses, net (6,584) (7,592) (4,790)
Net (loss) / income $ 1,850 $ (314,521) $ (69,559)
(Loss) / Earning per share, basic and diluted (Note 13) $ 0.13 $ (58.32) $ (14.69)
Weighted average number of shares outstanding, basic (Note 13) 14,051,344 5,393,131 4,736,485
Weighted average number of shares outstanding, diluted (Note 13) 14,116,389 5,393,131 4,736,485