XML 70 R57.htm IDEA: XBRL DOCUMENT
v3.7.0.1

DEBT - 2014 Term Loan (Details) - Secured Debt - 2014 Term Loan Facilities $ in Thousands |  | 3 Months Ended | 6 Months Ended |  |
--- | --- | --- | --- | --- | ---
Oct. 08, 2014 USD ($) installment | Jun. 30, 2017 USD ($) | Jun. 30, 2016 USD ($) | Jun. 30, 2017 USD ($) | Jun. 30, 2016 USD ($) | Dec. 31, 2016 USD ($) | Nov. 15, 2016
Line of Credit Facility |  |  |  |  |  |  |
Term of facilities | 10 years |  |  |  |  |  |
Maximum facility amount of delivered cost per vessel (as a percent) | 60.00% |  |  |  |  |  |
Maximum facility amount of delivered cost per vessel | $ 16,800 |  |  |  |  |  |
Maximum facility amount of fair market value per vessel at delivery (as a percent) | 60.00% |  |  |  |  |  |
Percentage of outstanding principal plus interest insured | 95.00% |  |  |  |  |  |
Number of semi-annual installments in which the credit facility is to be repaid | installment | 20 |  |  |  |  |  |
Amount due per installment (as a percent) | 4.16% |  |  |  |  |  |
Balloon payment of facility amount due at maturity (as a percent) | 16.67% |  |  |  |  |  |
Remaining borrowing capacity |  | $ 0 |  | $ 0 |  |  |
Repayment of secured debt |  | 700 | $ 700 | 1,381 | $ 1,381 |  |
Long-term debt |  | $ 25,498 |  | $ 25,498 |  | $ 26,784 |
LIBOR |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |
Reference rate | three or six-month LIBOR |  |  |  |  |  |
Applicable margin over reference rate (as a percent) | 2.50% |  |  |  |  |  |
Baltic Hornet |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |
Maximum borrowing capacity | $ 16,800 |  |  |  |  |  |
Period after latest vessel delivery date for first periodic repayment | 6 months |  |  |  |  |  |
Baltic Wasp |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |
Maximum borrowing capacity | $ 16,800 |  |  |  |  |  |
Period after latest vessel delivery date for first periodic repayment | 6 months |  |  |  |  |  |
From December 31, 2017 To June 29, 2018 |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  |  |  | 100.00%
From June 30, 2018 to December 30, 2018 |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  |  |  | 105.00%
From December 31, 2018 To December 30, 2019 |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  |  |  | 115.00%
From December 31, 2019 To End Date of Facilities |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  |  |  | 135.00%

X
- Definition Represents the aggregate fair value of the mortgaged vessels to be maintained as a percentage of aggregate outstanding principal amount as per the terms of the credit facilities' covenants. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityCovenantFairMarketValueOfMortgagedVesselsAsPercentageOfAggregateOutstandingPrincipalAmount
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Represents the number of quarterly installments in which the line of each credit facility shall be repaid. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityNumberOfSemiAnnualInstallments
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the period after latest vessel delivery date for first periodic repayment of the line of credit facility. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityPeriodAfterLatestVesselDeliveryDateForFirstPeriodicRepayment
Namespace Prefix: | gnk_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the maximum delivered cost per vessel allowed under the credit facility. + References No definition available. + Details
Name: | gnk_MaximumCostPerVesselAllowedUnderCreditFacility
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the maximum percentage of delivered cost per vessel allowed under the credit facility. + References No definition available. + Details
Name: | gnk_MaximumPercentageOfDeliveredCostPerVesselAllowedUnderCreditFacility
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the maximum percentage of fair market value per vessel at delivery allowed under the credit facility. + References No definition available. + Details
Name: | gnk_MaximumPercentageOfFairMarketValueOfVesselAllowedUnderCreditFacility
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the percentage of each facility amount due as balloon payment at final maturity. + References No definition available. + Details
Name: | gnk_PercentageOfFacilityAmountDueAsBalloonPaymentAtMaturity
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents percentage of facility amount due per installment. + References No definition available. + Details
Name: | gnk_PercentageOfFacilityAmountDuePerInstallment
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the percentage of outstanding principal plus interest insured by China Export & Credit Insurance Corporation (Sinosure) to cover political and commercial risks. + References No definition available. + Details
Name: | gnk_PercentageOfOutstandingPrincipalPlusInterestInsuredBySinosure
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentDescriptionOfVariableRateBasis
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Period remaining on line of credit facility before it terminates, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityExpirationPeriod
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3291-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
Name: | us-gaap_RepaymentsOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=gnk_BalticTradingTermLoanFacility2014Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | gnk_VesselsByNameAxis=gnk_BalticHornetMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | gnk_VesselsByNameAxis=gnk_BalticWaspMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodStartingFromDecember312017ToJune292018Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodStartingFromJune302018ToDecember302018Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodStartingFromDecember312018ToDecember302019Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodStartingFromDecember312019ToEndDateOfFacilitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |