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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2013
SEGMENT INFORMATION [Abstract] |
Segment Total Voyage Revenue to Total Consolidated Voyage Revenue from External Customers | The following table presents a reconciliation of total voyage revenue from external (third party) customers for the Company’s two operating segments to total consolidated voyage revenue from external customers for the Company for the three and nine months ended September 30, 2013 and 2012.
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Voyage revenue from external customers |  |  |  |  |  |  |  |  |  |  |  |
GS&T |  | $ | 49,503 |  |  | $ | 47,312 |  |  | $ | 121,755 |  |  | $ | 154,552 |
Baltic Trading |  |  | 9,102 |  |  |  | 6,291 |  |  |  | 21,467 |  |  |  | 20,188 |
Total operating segments |  |  | 58,605 |  |  |  | 53,603 |  |  |  | 143,222 |  |  |  | 174,740 |
Eliminating revenue |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total consolidated voyage revenue from external customers |  | $ | 58,605 |  |  | $ | 53,603 |  |  | $ | 143,222 |  |  | $ | 174,740 |
Total Intersegment Revenue | The following table presents a reconciliation of total intersegment revenue, which eliminates upon consolidation, for the Company’s two operating segments for the three and nine months ended September 30, 2013 and 2012. The intersegment revenue noted in the following table represents revenue earned by GS&T pursuant to the management agreement entered into with Baltic Trading, which includes commercial service fees, technical service fees and sale and purchase fees, if any.
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Intersegment revenue |  |  |  |  |  |  |  |  |  |  |  |
GS&T |  | $ | 1,187 |  |  | $ | 703 |  |  | $ | 2,563 |  |  | $ | 2,109 |
Baltic Trading |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total operating segments |  |  | 1,187 |  |  |  | 703 |  |  |  | 2,563 |  |  |  | 2,109 |
Eliminating revenue |  |  | (1,187 | ) |  |  | (703 | ) |  |  | (2,563 | ) |  |  | (2,109 | )
Total consolidated intersegment revenue |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Segment Total Net Loss to Total Consolidated Net Loss | The following table presents a reconciliation of total net loss for the Company’s two operating segments to total consolidated net loss for the three and nine months ended September 30, 2013 and 2012. The eliminating net income noted in the following table consists of the elimination of intercompany transactions between GS&T and Baltic Trading, as well as dividends received by GS&T from Baltic Trading for its Class B shares of Baltic Trading.
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |
GS&T |  | $ | (34,277 | ) |  | $ | (36,969 | ) |  | $ | (125,422 | ) |  | $ | (94,779 | )
Baltic Trading |  |  | (2,270 | ) |  |  | (4,822 | ) |  |  | (11,979 | ) |  |  | (12,942 | )
Total operating segments |  |  | (36,547 | ) |  |  | (41,791 | ) |  |  | (137,401 | ) |  |  | (107,721 | )
Eliminating net income |  |  | 429 |  |  |  | 246 |  |  |  | 465 |  |  |  | 1,194 |
Total consolidated net loss |  | $ | (36,976 | ) |  | $ | (42,037 | ) |  | $ | (137,866 | ) |  | $ | (108,915 | )
Segment Total Assets to Total Consolidated Assets | The following table presents a reconciliation of total assets for the Company’s two operating segments to total consolidated assets as of September 30, 2013 and December 31, 2012. The eliminating assets noted in the following table consist of the elimination of intercompany transactions resulting from the capitalization of fees paid to GS&T by Baltic Trading as vessel assets, including related accumulated depreciation, as well as the outstanding receivable balance due to GS&T from Baltic Trading as of September 30, 2013 and December 31, 2012.
|  | September 30, 2013 |  |  | December 31, 2012 |
Total assets |  |  |  |  |  |
GS&T |  | $ | 2,384,172 |  |  | $ | 2,482,486 |
Baltic Trading |  |  | 457,397 |  |  |  | 364,370 |
Total operating segments |  |  | 2,841,569 |  |  |  | 2,846,856 |
Eliminating assets |  |  | (3,845 | ) |  |  | (3,485 | )
Total consolidated assets |  | $ | 2,837,724 |  |  | $ | 2,843,371 |

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