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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net loss $ (137,866) $ (108,915)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 104,322 103,954
Amortization of deferred financing costs 6,862 3,555
Amortization of time charters acquired (283) (558)
Amortization of discount on Convertible Senior Notes 3,653 3,345
Unrealized loss (gain) on derivative instruments 3 (76)
Amortization of nonvested stock compensation expense 3,470 4,591
Change in assets and liabilities:    
(Increase) decrease in due from charterers (3,066) 5,072
(Increase) decrease in prepaid expenses and other current assets (244) 689
Increase (decrease) in accounts payable and accrued expenses 146 (3,751)
Increase (decrease) in deferred revenue 98 (2,351)
Increase in lease obligations 152 875
Deferred drydock costs incurred (1,873) (10,442)
Net cash used in operating activities (24,626) (4,012)
Cash flows from investing activities:    
Purchase of vessels (41,097) (894)
Purchase of other fixed assets (427) (1,948)
Changes in deposits of restricted cash 0 (400)
Net cash used in investing activities (41,524) (3,242)
Cash flows from financing activities:    
Repayments on the 2007 Credit Facility 0 (118,588)
Proceeds from issuance of common stock 0 50,721
Payment of common stock issuance costs 0 (847)
Proceeds from issuance of common stock by subsidiary 81,700 0
Payment of common stock issuance costs by subsidiary (379) 0
Payment of dividend by subsidiary (584) (3,910)
Payment of deferred financing costs (695) (4,327)
Net cash provided by (used in) financing activities 103,042 (132,936)
Net increase (decrease) in cash and cash equivalents 36,892 (140,190)
Cash and cash equivalents at beginning of period 72,600 227,968
Cash and cash equivalents at end of period 109,492 87,778
$100 Million Term Loan Facility [Member]
    
Cash flows from financing activities:    
Repayments on Term Loan Facility 0 (15,385)
$253 Million Term Loan Facility [Member]
    
Cash flows from financing activities:    
Repayments on Term Loan Facility 0 (40,600)
Baltic Trading Credit Facility 2010 [Member]
    
Cash flows from financing activities:    
Proceeds from the Baltic Trading Credit Facility 1,000 0
Baltic Trading Credit Facility 2013 [Member]
    
Cash flows from financing activities:    
Proceeds from the Baltic Trading Credit Facility $ 22,000 $ 0