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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS      
Cash and cash equivalents $ 117,819 $ 204,921 $ 257,911
Restricted cash, current (Note 9) 7,422 6,435 7,169
Trade accounts receivable, net 58,785 38,402  
Inventories (Note 4) 51,153 27,436  
Due from managers 899 284  
Due from related parties (Note 3) 590 1,322  
Prepaid expenses and other receivables 17,745 6,504  
Derivative asset, current (Note 20) 216 537  
Other current assets (Notes 3 and 18) 11,413 7,046  
Vessel held for sale (Note 5) 0 5,949  
Total Current Assets 266,042 298,836  
FIXED ASSETS      
Advances for vessels under construction and acquisition of vessels (Note 6) 0 59,900 48,574
Vessels and other fixed assets, net (Note 5) 2,965,527 2,656,108  
Total Fixed Assets 2,965,527 2,716,008  
OTHER NON-CURRENT ASSETS      
Long term investment (Note 3) 1,162 1,108  
Restricted cash, non-current (Note 9) 1,021 2,521 8,420
Leased buildings, right-of-use assets (Note 2) 1,216 0  
Other non-current assets 3,703 3,664  
TOTAL ASSETS 3,238,671 3,022,137  
CURRENT LIABILITIES      
Current portion of long term debt (Note 9) 150,350 101,007  
Lease financing short term (Note 7) 52,145 65,837  
Accounts payable 42,779 20,959  
Due to managers 5,781 3,757  
Due to related parties (Note 3) 4,017 1,649  
Accrued liabilities (Note 15) 46,761 16,854  
Derivative liability (Note 20) 1,724 1,799  
Deferred revenue 7,374 10,855  
Total Current Liabilities 310,931 222,717  
NON-CURRENT LIABILITIES      
8.30% 2022 Notes, net of unamortized debt issuance costs of $1,590 and $1,179, as of December 31, 2018 and 2019, respectively (Note 9) 48,821 48,410  
Long term debt, net of current portion and unamortized debt issuance costs of $10,997 and $15,098, as of December 31, 2018 and 2019, respectively (Note 9) 960,589 685,819  
Lease financing long term, net of unamortized debt issuance costs of $2,975 and $3,936, as of December 31, 2018 and 2019 respectively (Note 7) 369,831 540,925  
Fair value of below market time charters acquired (Note 8) 2,473 3,553  
Leased buildings, operating lease liabilities (Note 2) 1,216 0  
Other non-current liabilities 770 668  
TOTAL LIABILITIES 1,694,631 1,502,092  
COMMITMENTS & CONTINGENCIES (Note 17)  
SHAREHOLDERS' EQUITY      
Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2018 and 2019, respectively (Note 10) 0 0  
Common Shares, $0.01 par value, 300,000,000 shares authorized; 92,627,349 shares issued and 92,285,986 shares (net of treasury shares) outstanding at December 31, 2018; 96,073,197 shares issued and 96,066,226 shares (net of treasury shares) outstanding as of December 31, 2019 (Note 10) 961 926  
Additional paid in capital 2,544,342 2,502,429  
Treasury shares (341,363 and 6,971 shares at December 31, 2018 and 2019, respectively) (93) (3,145)  
Accumulated deficit (1,001,170) (980,165)  
Total Shareholders' Equity 1,544,040 1,520,045 $ 1,088,052
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,238,671 $ 3,022,137