XML 44 R31.htm IDEA: XBRL DOCUMENT

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2017
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	21 - SUBSEQUENT EVENTS On February 27, 2018, the Board of Directors determined to dispose of the Company’s following nine vessels; the Genco Cavalier, the Genco Loire, the Genco Lorraine, the Genco Muse, the Genco Normandy, the Baltic Cougar, the Baltic Jaguar, the Baltic Leopard and the Baltic Panther, at times and on terms to be determined in the future. Given this decision, and that the estimated future undiscounted cash flows for each of these older vessels did not exceed the net book value for each vessel, we have adjusted the values of these older vessels to their respective fair market values during the first quarter of 2018. This is expected to result in an impairment loss of approximately $56,400 in the first quarter of 2018. On February 27, 2018, the Company’s Board of Directors awarded grants of 37,436 RSUs and options to purchase 122,608 shares of the Company’s stock at an exercise price of $13.69 to certain individuals under the 2015 Plan. The awards generally vest ratably in one-third increments on the first three anniversaries of February 27, 2018. The Company has evaluated all subsequent events through the date these consolidated financial statements were issued and determined that there are no additional subsequent events to record or disclose.