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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:      
Net income / (loss) $ (16,201) $ 58,397 $ (9,771)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Depreciation 124,280 102,852 82,623
Amortisation of fair value of above market time charters (Note 8) 336 0 0
Amortisation of fair value of below market time charters (Note 8) (2,349) (1,820) 0
Amortization of debt issuance costs (Note 9) 5,590 3,253 2,660
Loss on debt extinguishment (Note 9) 3,526 2,383 1,257
Impairment loss (Note 5) 3,411 17,784 0
Loss / (gain) on sale of vessels (Note 5) 5,493 0 (2,598)
Provision for doubtful debts 1,607 722 0
Share-based compensation (Note 13) 7,943 8,072 9,267
Non-cash effects of derivative financial instruments 0 (1,230) (1,821)
Fair value hedge adjustment (Note 20) 0 (1,609) 0
Change in fair value of forward freight derivatives and bunker swaps (Note 20) 246 1,339 (36)
Other non-cash charges 28 108 144
Amortization of deferred gain 0 0 (52)
Gain on hull and machinery claims (Note 11) (2,264) (309) (456)
Equity in income of investee (54) (45) (93)
(Increase)/Decrease in:      
Trade accounts receivable (20,383) (22,266) (5,949)
Inventories (23,717) (8,091) (4,811)
Prepaid expenses and other receivables (14,940) (7,545) (43)
Due from related parties 732 (1,091) 745
Due from managers (615) (284) 1,430
Other non-current assets (357) (1,972) 0
Increase/(Decrease) in:      
Accounts payable 3,627 10,288 4,709
Due to related parties 2,368 1,420 (127)
Accrued liabilities 11,675 3,827 (863)
Due to managers 2,024 2,337 1,420
Deferred revenue (3,481) 2,489 5,169
Net cash provided by / (used in) Operating Activities 88,525 169,009 82,804
Cash Flows from Investing Activities:      
Advances for vessels under construction and acquisition of vessels and other fixed assets (347,140) (328,634) (143,684)
Cash proceeds from vessel sales (Note 5) 56,632 0 15,153
Hull and machinery insurance proceeds 10,671 3,307 1,430
Net cash provided by / (used in) Investing Activities (279,837) (325,327) (127,101)
Cash Flows from Financing Activities:      
Proceeds from bank loans, leases and notes 768,282 987,980 160,780
Loan and lease prepayments and repayments (623,892) (875,037) (86,262)
Financing and debt extinguishment fees paid (15,366) (13,818) (2,910)
Dividends paid (4,804) 0 0
Proceeds from issuance of common stock 0 0 51,454
Offering expenses paid related to the issuance of common stock 0 (532) (1,027)
Repurchase of common shares (20,523) (3,145) 0
Refund of financing premia 0 1,247 0
Net cash provided by / (used in) Financing Activities 103,697 96,695 122,035
Net increase/(decrease) in cash and cash equivalents and restricted cash (87,615) (59,623) 77,738
Cash and cash equivalents and restricted cash at beginning of period 213,877 273,500 195,762
Cash and cash equivalents and restricted cash at end of period 126,262 213,877 273,500
Cash paid during the year for:      
Interest 82,172 65,158 50,227
Non-cash investing and financing activities:      
Shares issued in connection with vessel acquisitions 57,580 373,565 0
Vessel upgrades 27,848 0 0
Reconciliation of (a) cash and cash equivalents, and restricted cash reported within the consolidated balance sheets to (b) the total amount of such items reported in the statements of cash flows:      
Cash and cash equivalents 117,819 204,921 257,911
Restricted cash, current (Note 9) 7,422 6,435 7,169
Restricted cash, non-current (Note 9) 1,021 2,521 8,420
Cash and cash equivalents and restricted cash at end of period shown in the statement of cash flows $ 126,262 $ 213,877 $ 273,500