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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net (loss) income $ (157,776) $ 25,068 $ 147,409
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Depreciation and amortization 139,063 136,203 115,663
Amortization of deferred financing costs 5,413 3,188 1,967
Amortization of time charters acquired (746) (1,611) (4,560)
Amortization of discount on Convertible Senior Notes 4,537 4,072 1,684
Unrealized gain on derivative instruments (100) (51) (66)
Amortization of nonvested stock compensation expense 5,864 8,338 7,219
Change in assets and liabilities:      
Decrease (increase) in due from charterers 1,974 (4,894) (6,677)
Increase in prepaid expenses and other current assets (437) (3,721) (3,804)
Increase in other noncurrent assets   (514)  
(Decrease) increase in accounts payable and accrued expenses (4,880) 1,091 10,048
Decrease in deferred revenue (2,903) (6,139) (2,465)
Increase (decrease) in lease obligations 1,324 1,166 (30)
Deferred drydock costs incurred (10,167) (4,013) (3,708)
Net cash (used in) provided by operating activities (18,834) 158,183 262,680
Cash flows from investing activities:      
Purchase of vessels (1,155) (130,328) (971,203)
Deposits on vessels     (13,702)
Changes in deposits of restricted cash (400) (750) 8,500
Proceeds from sale of vessels     106,555
Purchase of other fixed assets (2,114) (2,289) (380)
Net cash used in investing activities (3,669) (133,367) (870,230)
Cash flows from financing activities:      
Repayments on the 2007 Credit Facility (118,588) (102,500) (50,000)
Proceeds from the Baltic Trading 2010 Credit Facility     101,250
Proceeds from issuance of common stock 50,721   55,200
Payment of common stock issuance costs (847)   (318)
Proceeds from issuance of Convertible Senior Notes     125,000
Payment of Convertible Senior Notes issuance costs   (51) (867)
Proceeds from issuance of common stock by subsidiary     214,508
Payment of subsidiary common stock issuance costs     (3,721)
Payment of dividend by subsidiary (4,081) (7,603) (5,369)
Payment of deferred financing costs (4,085) (4,144) (11,212)
Net cash (used in) provided by financing activities (132,865) (67,725) 690,160
Net (decrease) increase in cash and cash equivalents (155,368) (42,909) 82,610
Cash and cash equivalents at beginning of year 227,968 270,877 188,267
Cash and cash equivalents at end of year 72,600 227,968 270,877
$100 Million Term Loan Facility
      
Cash flows from financing activities:      
Proceeds from Term Loan Facility   60,000 40,000
Repayments on Term Loan Facility (15,385) (8,011) (1,120)
$253 Million Term Loan Facility
      
Cash flows from financing activities:      
Proceeds from Term Loan Facility   21,500 231,500
Repayments on Term Loan Facility $ (40,600) $ (26,916) $ (4,691)