Unaudited Consolidated Statements of (Loss) Income - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
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| REVENUES | ||||
| Net pool revenues (note 12a) | $ 49,174 | $ 92,022 | $ 250,426 | $ 263,510 |
| Time charter revenues (note 12a) | 23,276 | 20,339 | 68,884 | 48,387 |
| Voyage charter revenues | 23,176 | 5,502 | 59,750 | 20,327 |
| Other revenues (notes 6 and 16) | 8,995 | 8,538 | 30,132 | 12,983 |
| Total revenues | 104,621 | 126,401 | 409,192 | 345,207 |
| Voyage expenses (note 12a) | (14,933) | (2,653) | (37,514) | (10,164) |
| Vessel operating expenses (note 12a) | (44,783) | (35,267) | (136,245) | (87,085) |
| Time-charter hire expense | (11,335) | (21,382) | (47,964) | (53,178) |
| Depreciation and amortization | (25,888) | (17,878) | (78,576) | (48,346) |
| General and administrative expenses (note 12a) | (3,572) | (4,310) | (13,774) | (10,992) |
| Loss on sale of vessel | (137) | 0 | (137) | 0 |
| Asset impairments (note 13) | (7,766) | 0 | (14,186) | 0 |
| Restructuring charges (note 16) | 0 | (327) | 0 | (4,772) |
| (Loss) income from operations | (3,793) | 44,584 | 80,796 | 130,670 |
| Interest expense | (6,809) | (4,008) | (22,421) | (9,659) |
| Interest income | 18 | 28 | 70 | 67 |
| Realized and unrealized gain (loss) on derivative instruments (note 8) | 3,629 | (1,031) | (7,902) | (2,095) |
| Equity income (note 5) | 1,045 | 2,762 | 9,599 | 8,931 |
| Other income (expense) (note 9) | 453 | (1,385) | (4,133) | (1,838) |
| Net (loss) income | $ (5,457) | $ 40,950 | $ 56,009 | $ 126,076 |
| Per common share amounts (note 14) | ||||
| - Basic earnings per share (usd per share) | $ (0.03) | $ 0.31 | $ 0.36 | $ 1.02 |
| - Diluted earnings per share (usd per share) | (0.03) | 0.30 | 0.36 | 1.02 |
| - Cash dividends declared (usd per share) | $ 0.06 | $ 0.03 | $ 0.15 | $ 0.09 |
| Weighted-average number of Class A and Class B common stock outstanding (note 14) | ||||
| - Basic (shares) | 156,284,136 | 134,630,768 | 156,192,572 | 121,933,274 |
| - Diluted (shares) | 156,284,136 | 135,174,756 | 156,458,691 | 122,504,070 |
| X | ||||||||||
- Definition General and Administrative Expense, Excluding Lease and Rental No definition available.
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- Definition Net Pool Revenues No definition available.
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- Definition Other Revenues Net No definition available.
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- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenue from transporting cargo and freight between locations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate direct operating costs incurred during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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