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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 204,921 $ 257,911
Restricted cash, current (Note 8) 6,435 7,169
Trade accounts receivable, net 38,402 18,521
Inventories (Note 4) 27,436 19,345
Due from managers 284 0
Due from related parties (Note 3) 1,322 231
Prepaid expenses and other receivables 6,504 4,215
Derivative asset, current (Note 18) 537 77
Other current assets (Notes 2 and 3) 7,046 5,157
Vessel held for sale (Note 5) 5,949 0
Total Current Assets 298,836 312,626
FIXED ASSETS    
Advances for vessels under construction and acquisition of vessels (Note 6) 59,900 48,574
Vessels and other fixed assets, net (Note 5) 2,656,108 1,775,081
Total Fixed Assets 2,716,008 1,823,655
OTHER NON-CURRENT ASSETS    
Long term investment 1,108 1,063
Restricted cash, non-current (Note 8) 2,521 8,420
Other non-current assets (Note 2 and 8) 3,664 0
TOTAL ASSETS 3,022,137 2,145,764
CURRENT LIABILITIES    
Current portion of long term debt (Note 8) 101,007 173,958
Lease commitments short term (Notes 5 and 6) 65,837 15,348
Accounts payable 20,959 9,944
Due to managers 3,757 1,420
Due to related parties (Note 3) 1,649 229
Accrued liabilities (Note 14) 16,854 10,521
Derivative liability (Note 18) 1,799 625
Deferred revenue 10,855 7,229
Total Current Liabilities 222,717 219,274
NON-CURRENT LIABILITIES    
8.30% 2022 Notes, net of unamortized debt issuance costs of $2,000 and $1,590, as of December 31, 2017 and 2018 respectively (Note 8) 48,410 48,000
Long term debt, net of current portion and unamortized debt issuance costs of $7,119 and $10,997, as of December 31, 2017 and 2018, respectively (Note 8) 685,819 575,137
Lease commitments long term, net of unamortized debt issuance costs of $35 and $2,975, as of December 31, 2017 and 2018 respectively (Notes 5 and 6) 540,925 214,741
Fair value of below market time charters acquired (Note 7) 3,553 0
Other non-current liabilities 668 560
TOTAL LIABILITIES 1,502,092 1,057,712
COMMITMENTS & CONTINGENCIES (Note 16)
SHAREHOLDERS' EQUITY    
Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2017 and 2018, respectively (Note 9) 0 0
Common Shares, $0.01 par value, 300,000,000 shares authorized; 64,160,004 and 92,627,349 shares issued; 64,160,004 and 92,285,986 shares (net of treasury shares) outstanding at December 31, 2017 and 2018 respectively (Note 9) 926 642
Additional paid in capital (Note 9) 2,502,429 2,123,108
Treasury shares (nil and 341,363 shares at December 31, 2017 and 2018, respectively) (3,145) 0
Accumulated other comprehensive income/(loss) (Note 18) 0 605
Accumulated deficit (980,165) (1,036,303)
Total Shareholders' Equity 1,520,045 1,088,052
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,022,137 $ 2,145,764