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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net loss $ (100,890) $ (66,877)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 69,100 68,916
Amortization of deferred financing costs 3,691 1,959
Amortization of time charters acquired (233) (371)
Amortization of discount on Convertible Senior Notes 2,388 2,188
Unrealized loss (gain) on derivative instruments 5 (46)
Amortization of nonvested stock compensation expense 2,380 3,119
Change in assets and liabilities:    
Decrease in due from charterers 768 2,732
(Increase) decrease in prepaid expenses and other current assets (2,901) 391
Increase (decrease) in accounts payable and accrued expenses 1,686 (3,913)
Increase (decrease) in deferred revenue 13 (960)
Increase in lease obligations 125 607
Deferred drydock costs incurred (1,402) (7,187)
Net cash (used in) provided by operating activities (25,270) 558
Cash flows from investing activities:    
Purchase of vessels (54) (814)
Purchase of other fixed assets (195) (1,836)
Net cash used in investing activities (249) (2,650)
Cash flows from financing activities:    
Proceeds on the 2010 Baltic Trading Credit Facility 1,000  
Repayments on the 2007 Credit Facility   (12,500)
Proceeds from issuance of common stock   50,721
Payment of common stock issuance costs   (847)
Proceeds from issuance of common stock by subsidiary 21,838  
Payment of common stock issuance costs by subsidiary (17)  
Payment of dividend by subsidiary (347) (3,060)
Payment of deferred financing costs   (175)
Net cash provided by financing activities 22,474 20,142
Net (decrease) increase in cash and cash equivalents (3,045) 18,050
Cash and cash equivalents at beginning of period 72,600 227,968
Cash and cash equivalents at end of period 69,555 246,018
$100 Million Term Loan Facility
    
Cash flows from financing activities:    
Repayments on Term Loan Facility   (3,847)
$253 Million Term Loan Facility
    
Cash flows from financing activities:    
Repayments on Term Loan Facility   $ (10,150)