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Earnings / (Loss) per Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings / (Loss) per Share

9.       Earnings / (Loss) per Share:

The computation of basic earnings/(loss) per share is based on the weighted average number of common shares outstanding for the six-month periods ended June 30, 2020 and 2021. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed. Diluted earnings/(loss) per share gives effect to stock awards, stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. For the six months ended June 30, 2020, the Company incurred losses and the effect of 1,371,038 non-vested shares outstanding as of that date, would be anti-dilutive. Hence for the six months ended June 30, 2020 “Basic loss per share” equals “Diluted loss per share.”

The Company calculates basic and diluted earnings / (loss) per share as follows:

 

           
  Six months ended June 30, 
    2020     2021
Income / (Loss) :          
Net income / (loss) $                (41,365)    $                159,972
              
             
Basic earnings / (loss) per share:          
Weighted average common shares outstanding, basic            95,797,142            100,256,417
Basic earnings / (loss) per share $                    (0.43)    $                      1.60
           
Effect of dilutive securities:          
Dillutive effect of non vested shares                           -                      281,480
Weighted average common shares outstanding, diluted            95,797,142              100,537,897
           
Diluted earnings / (loss) per share $                    (0.43)    $                      1.59