XML 79 R66.htm IDEA: XBRL DOCUMENT
v3.8.0.1

DEBT - $400 Million Credit Facility (Details) $ in Thousands |  |  | 12 Months Ended
--- | --- | --- | ---
Nov. 14, 2016 USD ($) | Nov. 10, 2016 USD ($) item | Dec. 31, 2017 USD ($) | Dec. 31, 2016 USD ($) item | Dec. 31, 2015 USD ($)
Line of Credit Facility |  |  |  |  |
PIK interest |  |  | $ 5,341 | $ 800 |
Restricted cash, non-current |  |  | 23,233 | 27,426 | $ 315
Repayment of the outstanding debt |  |  |  |  |
Principal, including PIK interest |  |  | 524,424 | 524,377 |
Secured Debt | $400 Million Credit Facility |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Maximum borrowing capacity |  | $ 400,000 | 400,000 | $ 400,000 |
Number of vessels mortgaged | item |  | 45 |  |  |
Number of remaining vessels to be sold | item |  |  |  | 5 |
Drawdowns during the period | $ 400,000 |  |  | $ 400,000 |
Remaining borrowing capacity |  |  | 0 |  |
Repayments of Secured Debt |  |  | 400 | 0 | $ 0
Principal including PIK interest |  |  | 398,609 | 392,833 |
PIK interest |  |  | 5,341 |  |
PIK interest (as a percent) |  | 1.50% |  |  |
Maximum total indebtedness to total capitalization |  | 0.70 |  |  |
Minimum working capital required |  | $ 0 |  |  |
Prepayment under cash sweep required |  | 0 |  |  |
Excess cash flow sweep |  |  | $ 11,334 |  |
Excess cash flow sweep period |  |  | 45 days |  |
Restricted cash, non-current |  |  | $ 11,180 | $ 11,180 |
Repayment of the outstanding debt |  |  |  |  |
2018 |  |  | 11,734 |  |
2019 |  |  | 28,908 |  |
2020 |  |  | 28,908 |  |
2021 |  |  | 335,391 |  |
Principal, including PIK interest |  |  | $ 404,941 |  |
Secured Debt | $400 Million Credit Facility | Through December 31, 2018 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Amortization payments per quarter |  | 100 |  |  |
Minimum cash balance required per vessel owned |  | $ 250 |  |  |
Cash flow sweep (as a percent) |  | 100.00% |  |  |
Secured Debt | $400 Million Credit Facility | From March 31, 2019 through December 31, 2020 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Amortization payments per quarter |  | $ 7,610 |  |  |
Secured Debt | $400 Million Credit Facility | From March 31, 2021 through September 30, 2021 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Amortization payments per quarter |  | 18,571 |  |  |
Secured Debt | $400 Million Credit Facility | Period Upon Final Maturity On November 15 2021 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Amortization payments per quarter |  | $ 282,605 |  |  |
Secured Debt | $400 Million Credit Facility | From June 30, 2018 to December 30, 2018 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Collateral security maintenance test (as a percent) |  | 105.00% |  |  |
Secured Debt | $400 Million Credit Facility | From December 31, 2018 to December 30, 2020 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Collateral security maintenance test (as a percent) |  | 115.00% |  |  |
Cash flow sweep (as a percent) |  | 75.00% |  |  |
Threshold initial aggregate prepayments limit for prepayment under cash sweep |  | $ 10,000 |  |  |
Secured Debt | $400 Million Credit Facility | After December 30, 2020 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Collateral security maintenance test (as a percent) |  | 135.00% |  |  |
Secured Debt | $400 Million Credit Facility | After December 31, 2020 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Cash flow sweep option one (as a percent) |  | 50.00% |  |  |
Vessel age repayment period |  | 15 years |  |  |
Secured Debt | $400 Million Credit Facility | From January 1, 2019 To December 31, 2019 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Minimum cash balance required per vessel owned |  | $ 400 |  |  |
Secured Debt | $400 Million Credit Facility | After January 1, 2020 |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Minimum cash balance required per vessel owned |  | $ 700 |  |  |
Secured Debt | $400 Million Credit Facility | LIBOR |  |  |  |  |
Line of Credit Facility |  |  |  |  |
Reference rate |  | three-month LIBOR |  |  |
Applicable margin over reference rate (as a percent) |  | 3.75% |  |  |

X
- Definition Amount of long-term debt including PIK interest before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. + References No definition available. + Details
Name: | gnk_DebtInstrumentCarryingAmountIncludingPaidInKindInterest
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the percentage of debt instrument paid in kind. + References No definition available. + Details
Name: | gnk_DebtInstrumentPaidInKindRate
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of excess cash flow used to paydown outstanding debt classified as current. + References No definition available. + Details
Name: | gnk_ExcessCashFlowSweepPayableCurrent
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Period of excess cash flow to be paid to lender from the end of reporting period. + References No definition available. + Details
Name: | gnk_ExcessCashFlowSweepPayablePeriod
Namespace Prefix: | gnk_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Interest paid other than in cash for example by issuing additional debt securities. + References No definition available. + Details
Name: | gnk_InterestPaidInKind
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents vessel age repayment period. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityCovenantCashFlowSweepAmountVesselAgeRepaymentPeriod
Namespace Prefix: | gnk_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line of credit facility covenant cash flow sweep As percentage of excess cash from collateralized vessels. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityCovenantCashFlowSweepAsPercentageOfExcessCashFromCollateralizedVessels
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

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 Line of credit facility covenant option one cash flow sweep as percentage of excess cash from collateralized vessels. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityCovenantOptionOneCashFlowSweepAsPercentageOfExcessCashFromCollateralizedVessels
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of line of credit facility prepayment under cash sweep required for initial aggregate prepayment amount. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityCovenantPrepaymentUnderCashSweepRequiredForInitialAggregatePrepaymentsAmount
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of line of credit facility covenant threshold initial aggregate prepayments limit for prepayment under cash sweep. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityCovenantThresholdInitialAggregatePrepaymentsLimitForPrepaymentUnderCashSweep
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of line of credit facility future amortization payments per quarter per facility agreement. Upon payment of excess cash flow to lenders, these amortization payments shall be adjusted. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityFutureAmortizationPaymentsPerQuarter
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the minimum cash balance per vessel required to be maintained for vessels owned under the credit facility. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityMinimumCashBalanceRequiredPerVesselOwned
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Carrying amount of long-term debt including PIK interest, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References No definition available. + Details
Name: | gnk_LongTermDebtIncludingPikInterest
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the maximum ratio of total debt outstanding to total capitalization. + References No definition available. + Details
Name: | gnk_MaximumTotalDebtToTotalCapitalizationRatio
Namespace Prefix: | gnk_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Minimum working capital required per terms of the credit facility. + References No definition available. + Details
Name: | gnk_MinimumWorkingCapital
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the number of remaining vessels to be sold. + References No definition available. + Details
Name: | gnk_NumberOfRemainingVesselsToBeSold
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the number of vessels mortgaged by the entity as collateral in support of agreements. + References No definition available. + Details
Name: | gnk_NumberOfVesselsMortgaged
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

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 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
- References No definition available. + Details
Name: | us-gaap_LongTermDebtByMaturityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04.(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: 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_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04.(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: 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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04.(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. + 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04.(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash inflow from amounts received from issuance of long-term debt that is wholly or partially secured by collateral. Excludes proceeds from 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 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3255-108585 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_ProceedsFromIssuanceOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

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
- Definition Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. + 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 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_RestrictedCashAndCashEquivalentsNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

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_NordeaBankSeniorSecuredTermLoanFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodThroughDecember312018Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodStartingFromMarch312019ToDecember312020Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodStartingFromMarch312021ToSeptember302021Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodUponFinalMaturityOnNovember152021Member
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_PeriodStartingFromDecember312018ToDecember302020Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodAfterDecember302020Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodAfterDecember312020Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodStartingFromJanuary12019ToDecember312019Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementScenarioAxis=gnk_PeriodAfterJanuary12020Member
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: |