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Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:    
Voyage revenues$ 93,484$ 117,558$ 292,614$ 317,576
Service revenues8284622,457462
Total revenues94,312118,020295,071318,038
Operating expenses:    
Voyage expenses1,7021,4472,5953,202
Vessel operating expenses26,13321,42576,39452,472
General, administrative, and management fees8,7597,31625,90820,276
Depreciation and amortization34,37829,998101,48481,091
Other operating income   (206)
Total operating expenses70,97260,186206,381156,835
Operating income23,34057,83488,690161,203
Other (expense) income:    
Other income (expense)31(79)(80)(54)
Interest income167189503513
Interest expense(21,793)(19,372)(64,654)(50,613)
Other expense(21,595)(19,262)(64,231)(50,154)
Income before income taxes1,74538,57224,459111,049
Income tax expense(328)(467)(1,041)(1,186)
Net income1,41738,10523,418109,863
Less: Net (loss) income attributable to noncontrolling interest(145)1,878(1,662)3,428
Net income attributable to Genco Shipping & Trading Limited$ 1,562$ 36,227$ 25,080$ 106,435
Earnings per share-basic (in dollars per share)$ 0.04$ 1.07$ 0.71$ 3.30
Earnings per share-diluted (in dollars per share)$ 0.04$ 0.99$ 0.71$ 3.19
Weighted average common shares outstanding-basic (in shares)35,157,11033,998,92335,149,91232,279,671
Weighted average common shares outstanding-diluted (in shares)35,212,84038,718,88635,212,04133,965,335
Dividends declared per share (in dollars per share)$ 0 $ 0