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Consolidated Statement of Cash Flow - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Profit for the year $ 6,602 $ 9,260 $ 105,302
Items included in net income not affecting cash flows      
Depreciation and amortization 96,758 84,340 78,698
Impairment charges/(reversal of impairment charges) 8,540 84,700 0
Amortization of upfront fees 7,375 7,997 7,521
(Profit)/loss on sale of vessel 3,540 (138) 807
Fair value gain on derivative financial liabilities (2,154) (3,235) (3,603)
Compensation related to options and restricted stock 4,948 7,365 6,910
(Gain)/loss purchase of convertible bonds (1,035) 0 0
Share of profit in associated companies (802) (649) (467)
Unrealized currency translation (gains)/losses 0 (255) 98
Changes in operating assets and liabilities:      
Accounts receivable and accrued revenues (9,869) 7,751 (11,385)
Prepaid expenses 430 (1,087) (1,568)
Accounts payable and accrued expenses 5,407 (1,557) (8,998)
Deferred shipping revenues (2,154) (1,422) 1,147
Bunkers, lube oils and consumables (15,769) 938 7,062
Net cash provided by operating activities 101,817 194,008 181,526
Cash flows from investing activities      
Investment in vessels (165,649) (13,260) (1,987)
Investment in vessels under constuction (132,536) (222,104) (142,560)
Proceeds from sale of vessels 111,418 22,233 26,500
Investment in subsidiary, net of cash acquired 0 0 (7,562)
Dividend received from associated company 415 242 120
Investment in property, plant and equipment (193) (144) (419)
Net cash used in investing activities (186,545) (213,033) (125,907)
Cash flows from financing activities      
Cash dividends paid (23,328) (66,365) (49,194)
Issuance of long-term debt 200,452 219,248 99,400
Purchase of treasury shares 0 (2,031) 0
Purchase of convertible bonds (17,104) (25,334) 0
Repayment of long-term debt (107,295) (163,972) (105,734)
Net cash (used in)/provided by financing activities 52,725 (38,454) (55,528)
Net (decrease)/increase in cash and cash equivalents (32,003) (57,480) 91
Cash and cash equivalents at beginning of period 109,295 166,775 166,684
Cash and cash equivalents at end of period 77,292 109,295 166,775
Specification of items included in operating activities:      
Interest paid 32,253 27,539 26,505
Interest received $ 140 $ 66 $ 140