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