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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 21,999 $ 71,757
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,106 51,094
Amortization of deferred financing costs 1,572 602
Amortization of time charters acquired (969) (2,435)
Amortization of discount on Convertible Senior Notes 1,952  
Unrealized gain on derivative instruments (19) (35)
Amortization of nonvested stock compensation expense 4,523 3,283
Change in assets and liabilities:    
Increase in due from charterers (66) (959)
Increase in prepaid expenses and other current assets (2,169) (1,902)
Increase in other noncurrent assets (514)  
(Decrease) increase in accounts payable and accrued expenses (2,818) 2,113
Decrease in deferred revenue (6,407) (2,903)
Increase (decrease) in deferred rent credit 576 (10)
Deferred drydock costs incurred (1,801) (2,590)
Net cash provided by operating activities 82,965 118,015
Cash flows from investing activities:    
Purchase of vessels (67,174) (214,389)
Deposits on vessels (117) (84,899)
Deposits on vessels to be sold   (10,550)
Purchase of other fixed assets (277) (251)
Changes in deposits of restricted cash (750) 5,500
Net cash used in investing activities (68,318) (304,589)
Cash flows from financing activities:    
Repayments on the 2007 Credit Facility (25,000) (25,000)
Proceeds from the $100 Million Term Loan Facility 20,000  
Repayments on the $100 Million Term Loan Facility (1,763)  
Proceeds from the $253 Million Term Loan Facility 21,500  
Repayments on the $253 Million Term Loan Facility (9,766)  
Proceeds from the Baltic Trading 2010 Credit Facility   9,975
Proceeds from issuance of common stock by subsidiary   214,508
Payments of subsidiary common stock issuance costs   (3,721)
Payment of Convertible Senior Notes issuance costs (51)  
Payment of dividend by subsidiary (3,886)  
Payment of deferred financing costs (328) (1,316)
Net cash provided by financing activities 706 194,446
Net increase in cash and cash equivalents 15,353 7,872
Cash and cash equivalents at beginning of period 270,877 188,267
Cash and cash equivalents at end of period $ 286,230 $ 196,139