XML 56 R40.htm IDEA: XBRL DOCUMENT
v2.4.0.8

DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
DEBT [Abstract] |
Schedule of long-term debt | Long-term debt consists of the following:
|  | December 31, 2013 |  |  | December 31, 2012 |
2007 Credit Facility |  | $ | 1,055,912 |  |  | $ | 1,055,912 |
$ 100 Million Term Loan Facility |  |  | 75,484 |  |  |  | 75,484 |
$ 253 Million Term Loan Facility |  |  | 180,793 |  |  |  | 180,793 |
2010 Baltic Trading Credit Facility |  |  | 102,250 |  |  |  | 101,250 |
Baltic Trading $ 22 Million Term Loan Facility |  |  | 21,625 |  |  |  | — |
Baltic Trading $ 44 Million Term Loan Facility |  |  | 44,000 |  |  |  | — |
Less: Current portion |  |  | (1,316,439 | ) |  |  | — |
Long-term debt |  | $ | 163,625 |  |  | $ | 1,413,439 |
Schedule of effective interest rate and the range of interest rates on the debt | The following table sets forth the effective interest rate associated with the interest expense for the Company’s debt facilities noted above, including the rate differential between the pay fixed receive variable rate on the interest rate swap agreements that were in effect (refer to Note 11 — Interest Rate Swap Agreements), combined, and the cost associated with unused commitment fees as well as the facility fee for the 2007 Credit Facility which was reduced from 2.0% to 1.0% on February 28, 2012 as noted above. Additionally, it includes the range of interest rates on the debt, excluding the impact of swaps and unused commitment fees:
|  | Year ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Effective Interest rate |  |  | 4.70 | % |  |  | 4.68 | % |  |  | 4.42 | %
Range of Interest Rates (excluding impact of swaps and unused commitment fees) |  | 3.16% to 4.38 | % |  | 3.21% to 4.63 | % |  | 2.19% to 3.52 | %
2007 Credit Facility [Member] |
Line of Credit Facility [Line Items] |
Schedule of repayment of outstanding debt | The following table sets forth the repayment of the outstanding debt of $1,055,912 at December 31, 2013 under the 2007 Credit Facility, as amended, although the total debt outstanding debt under this facility of $1,055,912 has been classified as a current liability as noted above:
Year Ending December 31, |  | Total |
2014 |  | $ | 192,780 |
2015 |  |  | 192,780 |
2016 |  |  | 144,585 |
2017 |  |  | 525,767 |
Total debt |  | $ | 1,055,912 |
$100 Million Term Loan Facility [Member] |
Line of Credit Facility [Line Items] |
Schedule of repayment of outstanding debt | The following table sets forth the repayment of the outstanding debt of $75,484 at December 31, 2013 under the $100 Million Term Loan Facility, although the total debt outstanding debt under this facility of $75,484 has been classified as a current liability as noted above:
Year Ending December 31, |  | Total |
2014 |  | $ | 7,692 |
2015 |  |  | 7,692 |
2016 |  |  | 7,692 |
2017 |  |  | 52,408 |
Total debt |  | $ | 75,484 |
$253 Million Term Loan Facility [Member] |
Line of Credit Facility [Line Items] |
Schedule of repayment of outstanding debt | The following table sets forth the repayment of the outstanding debt of $180,793 at December 31, 2013 under the $253 Million Term Loan Facility, although the total debt outstanding debt under this facility of $180,793 has been classified as a current liability as noted above:
Year Ending December 31, |  | Total |
2014 |  | $ | 20,300 |
2015 |  |  | 160,493 |
Total debt |  | $ | 180,793 |
2010 Baltic Trading Credit Facility [Member] |
Line of Credit Facility [Line Items] |
Schedule of repayment of outstanding debt | The following table sets forth the repayment of the outstanding debt of $102,250 at December 31, 2013 under the 2010 Baltic Trading Credit Facility:
Year Ending December 31, |  | Total |
2014 |  | $ | — |
2015 |  |  | 2,250 |
2016 |  |  | 100,000 |
Total debt |  | $ | 102,250 |
Baltic Trading $22 Million Term Loan Facility [Member] |
Line of Credit Facility [Line Items] |
Schedule of repayment of outstanding debt | The following table sets forth the repayment of the outstanding debt of $21,625 at December 31, 2013 under the Baltic Trading $22 Million Term Loan Facility:
Year Ending December 31, |  | Total |
2014 |  | $ | 1,500 |
2015 |  |  | 1,500 |
2016 |  |  | 1,500 |
2017 |  |  | 1,500 |
2018 |  |  | 1,500 |
Thereafter |  |  | 14,125 |
Total debt |  | $ | 21,625 |
Baltic Trading $44 Million Term Loan Facility [Member] |
Line of Credit Facility [Line Items] |
Schedule of repayment of outstanding debt | The following table sets forth the repayment of the outstanding debt of $44,000 at December 31, 2013 under the Baltic Trading $44 Million Term Loan Facility:
Year Ending December 31, |  | Total |
2014 |  | $ | 2,750 |
2015 |  |  | 2,750 |
2016 |  |  | 2,750 |
2017 |  |  | 2,750 |
2018 |  |  | 2,750 |
Thereafter |  |  | 30,250 |
Total debt |  | $ | 44,000 |

X
- Definition Tabular disclosure of effective interest rate associated with the interest expense for the entity's debt facilities, including the rate differential between the pay fixed, receive variable rate on the interest rate swap agreements that were in effect and the cost associated with unused commitment fees. Additionally, it includes the range of interest rates on the debt, excluding the impact of swaps and unused commitment fees. + References No definition available. + Details
Name: | gnk_ScheduleOfInterestRatesTableTextBlock
Namespace Prefix: | gnk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration