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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows from Operating Activities:      
Net (loss) / income $ 1,850 $ (314,521) $ (69,559)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation 16,061 33,045 50,224
Amortization of fair value of above market acquired time charters (Note 7) 6,352 6,369 2,366
Amortization of fair value of below market acquired time charters (Note 7) 0 0 (179)
Amortization of deferred finance charges (Note 9) 522 502 329
Loss on debt extinguishment (Note 9) 0 0 307
Gain on time charter agreement termination (Note 8) 0 0 (273)
Vessel's impairment loss (Note 19) 0 303,219 62,020
Loss on sale of vessel (Note 5) 87 3,190 0
Stock-based compensation (Note 14) 1,488 1,546 1,362
Change in fair value of derivatives (Note 19) (91) (82) 82
Other non-cash charges 38 67 31
Bad debt expense (Note 17a) 0 0 3,139
Gain from insurance claim (1,030) (812) (260)
Changes in operating assets and liabilities:      
Restricted cash for forward freight and bunker derivatives 0 153 (153)
Trade accounts receivable 2,766 (1,207) (3,249)
Inventories 1,887 254 (2,773)
Accrued income 0 0 397
Prepaid expenses and other receivables (131) (8,581) (957)
Due from related parties (339) (147) 0
Due from managers 0 (11) 5
Accounts payable (1,626) (237) 5,268
Due to related parties 297 (174) (167)
Accrued liabilities 350 (719) 2,005
Due to managers 0 (48) (7)
Deferred revenue (986) (2,807) 646
Net cash provided by Operating Activities 27,495 18,999 50,604
Cash Flows from Investing Activities:      
Advances for vessels under construction and acquisition of vessels and other assets (127,814) (91) (96,388)
Cash paid for above market acquired time charters 0 0 (23,065)
Cash proceeds from vessel sale 8,267 7,962 0
Insurance proceeds 4,265 6,983 1,076
Decrease in restricted cash 7,664 10,829 17,750
Increase in restricted cash (500) (195) (21,710)
Net cash (used in) / provided by Investing Activities (108,118) 25,488 (122,337)
Cash Flows from Financing Activities:      
Proceeds from bank loans 0 0 162,775
Loan prepayments and repayments (33,780) (42,026) (101,464)
Financing fees paid (271) (91) (1,488)
Proceeds from issuance of common stock 150,905 0 28,786
Offering expenses paid related to the issuance of common stock (4,883) 0 (237)
Repurchase of common shares 0 (861) 0
Cash dividend 0 (3,631) (14,391)
Net cash provided by / (used in) Financing Activities 111,971 (46,609) 73,981
Net increase / (decrease) in cash and cash equivalents 31,348 (2,122) 2,248
Cash and cash equivalents at beginning of year 12,950 15,072 12,824
Cash and cash equivalents at end of year 44,298 12,950 15,072
SUPPLEMENTAL CASH FLOW INFORMATION      
Interest $ 6,156 $ 7,612 $ 3,893