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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities:    
Net income / (loss) $ (26,229) $ (81,696)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:    
Depreciation 40,387 40,847
Amortization of fair value of above market acquired time charters (Note 7) 0 254
Amortization of deferred finance charges (Note 8) 1,288 1,561
Loss on debt extinguishment (Note 8) 358 1,801
Vessel impairment loss (Note 5) 0 6,694
Loss / (gain) on sale of vessels (Note 5) 370 21
Stock-based compensation (Note 13) 6,360 2,285
Non-cash effects of derivative financial instruments (Note 15) (706) 1,805
Change in fair value of forward freight derivatives (Note 15) 41 0
Other non-cash charges 29 130
Amortization of deferred gain (Note 5) (37) (37)
Equity in income of investee (4) (69)
(Increase)/Decrease in:    
Restricted cash for forward freight derivatives 216 0
Trade accounts receivable (7,843) 255
Inventories 376 (2,267)
Prepaid expenses and other current assets 424 350
Due from related parties 748 537
Due from managers 1,430 (3,585)
Increase/(Decrease) in:    
Accounts payable 651 (27)
Due to related parties (22) (7)
Accrued liabilities (1,624) (2,705)
Due to managers 4,320 (2,291)
Deferred revenue (197) 172
Net cash provided by / (used in) Operating Activities 20,336 (35,972)
Cash Flows from Investing Activities:    
Advances for vessels under construction and acquisition of vessels and other assets (116,679) (388,660)
Cash proceeds from vessel sales (Note 5) 7,656 362,887
Decrease in restricted cash 23 7,034
Increase in restricted cash (6,775) (6,944)
Hull and machinery insurance proceeds 0 1,115
Net cash provided by / (used in) Investing Activities (115,775) (24,568)
Cash Flows from Financing Activities:    
Proceeds from bank loans and capital leases 95,936 151,763
Loan prepayments and repayments (5,190) (158,699)
Financing fees paid (737) (25)
Proceeds from issuance of common stock 51,454 0
Offering expenses paid related to the issuance of common stock (900) 0
Net cash provided by / (used in) Financing Activities 140,563 (6,961)
Net (decrease) / increase in cash and cash equivalents 45,124 (67,501)
Cash and cash equivalents at beginning of period 181,758 208,056
Cash and cash equivalents at end of the period 226,882 140,555
Cash paid during the period for:    
Interest $ 23,575 $ 23,279