v2.4.0.8
CONSOLIDATED STATEMENTS OF LOSS (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
REVENUES      
Time charter revenues (note 13b) $ 88,320 $ 123,364 $ 155,591
Net pool revenues (note 13b and 13e) 69,675 62,328 48,158
Voyage charter revenues 4,415 238  
Interest income from investment in term loans (note 4) 7,677 11,499 11,323
Total revenues 170,087 197,429 215,072
OPERATING EXPENSES      
Voyage expenses (note 13b) 8,337 4,618 3,449
Vessel operating expenses (notes 13b and 13c) 91,667 96,160 92,543
Time-charter hire expense 6,174 3,950 4,046
Depreciation and amortization 47,833 72,365 74,482
General and administrative (notes 13b and 13d) 12,594 7,985 7,671
Vessel impairment and net loss on sale of vessels (note 17) 71 352,546 58,034
Goodwill impairment charge (note 6) 0 0 19,294
Total operating expenses 166,676 537,624 259,519
Income (loss) from operations 3,411 (340,195) (44,447)
OTHER ITEMS      
Interest expense (note 13b) (10,023) (20,009) (40,539)
Interest income 158 50 71
Realized and unrealized loss on derivative instruments (note 9) (1,524) (7,963) (27,783)
Equity income (loss) from investment in joint venture (note 5) 854 (1) 0
Other expenses (note 10) (1,014) (2,063) (377)
Total other items (11,549) (29,986) (68,628)
Net loss $ (8,138) $ (370,181) $ (113,075)
Per common share amounts:      
Basic and diluted loss (note 16) $ (0.10) $ (4.54) $ (0.15)
Cash dividends declared $ 0.12 $ 0.40 $ 0.83
Weighted-average number of Class A and Class B common shares outstanding      
Basic and diluted (note 16) 83,591,030 79,539,605 60,770,525