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Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 285,203 $ 86,000
Restricted cash, current (Note 8) 2,769 3,352
Trade accounts receivable 18,316 24,765
Inventories (Note 4) 16,691 14,368
Due from managers 81 81
Due from related parties (Note 3) 671 245
Other current assets 1,524 1,269
Prepaid expenses and other receivables 5,164 4,350
Total Current Assets 330,419 134,430
FIXED ASSETS    
Advances for vessels under construction and acquisition of vessels (Note 6) 337,671 454,612
Vessels and other fixed assets, net (Note 5) 1,772,664 1,441,851
Total Fixed Assets 2,110,335 1,896,463
OTHER NON-CURRENT ASSETS    
Long term Investment (Note 3) 847 634
Deferred finance charges, net 13,002 8,029
Restricted cash, non-current (Note 8 ) 11,020 10,620
Fair value of above market acquired time charter (Note 7) 2,723 11,908
TOTAL ASSETS 2,468,346 2,062,084
CURRENT LIABILITIES    
Current portion of long term debt (Note 8) 93,128 88,317
Lease commitments short term (Note 5) 4,380 0
Excel Vessel Bridge Facility from related parties, current portion (Note 3 and Note 8) 0 8,168
Accounts payable 10,898 18,487
Due to buyers (Note 5) 0 1,100
Due to related parties (Note 3) 900 2,166
Due to managers 4,539 0
Accrued liabilities 14,171 13,738
Derivative liability, current (Note 14) 7,247 5,722
Deferred revenue 1,863 2,500
Total Current Liabilities 137,126 140,198
NON-CURRENT LIABILITIES    
8.00% 2019 Notes (Note 8) 50,000 50,000
Long term debt (Note 8) 714,940 667,315
Lease commitments long term (Note 5) 77,300 0
Excel Vessel Bridge Facility from related parties, non current portion (Note 3 and Note 8) 0 47,993
Derivative liability, non current (Note 14) 3,653 2,010
Other non-current liabilities 300 266
TOTAL LIABILITIES $ 983,319 $ 907,782
COMMITMENTS & CONTINGENCIES (Note 13)    
STOCKHOLDERS' EQUITY    
Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2014 and June 30, 2015 (Note 9) $ 0 $ 0
Common Shares, $0.01 par value, 300,000,000 shares authorized; 109,426,236 and 218,934,541 shares issued and outstanding at December 31, 2014 and June 30, 2015, respectively (Note 9) 2,189 1,094
Additional paid in capital (Note 9) 2,005,649 1,567,713
Accumulated other comprehensive loss (Note 14) (3,487) (378)
Accumulated deficit (519,324) (414,127)
Total Stockholders' Equity 1,485,027 1,154,302
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,468,346 $ 2,062,084