XML 95 R80.htm IDEA: XBRL DOCUMENT
v3.10.0.1

DEBT - $253M and $100M Term Loans (Details) $ in Thousands |  |  |  |  |  |  | 1 Months Ended | 12 Months Ended |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Mar. 29, 2016 USD ($) | Mar. 11, 2016 USD ($) | Apr. 30, 2015 USD ($) | Jul. 09, 2014 USD ($) | Aug. 20, 2010 USD ($) tranche item | Aug. 12, 2010 USD ($) tranche item | Oct. 31, 2015 item | Apr. 30, 2015 USD ($) item | Dec. 31, 2016 USD ($) | Dec. 31, 2018 USD ($) | Dec. 31, 2017 USD ($) | Dec. 03, 2013 USD ($) | Aug. 30, 2013 USD ($)
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Minimum cash balance per vessel in the fleet |  |  | $ 750 |  |  |  |  | $ 750 |  |  |  | $ 750 | $ 750
Secured Debt | $253 Million Term Loan Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  | $ 253,000 |  |  |  | $ 253,000 |  |  |  |
Number of vessels acquired | item |  |  |  |  | 13 |  |  |  |  |  |  |  |
Number of drawdowns | tranche |  |  |  |  | 13 |  |  |  |  |  |  |  |
Number of drawdowns per vessel | tranche |  |  |  |  | 1 |  |  |  |  |  |  |  |
Commitment fee on unused daily average unutilized commitment (as a percent) |  |  |  |  | 1.25% |  |  |  |  |  |  |  |
Number of vessels owned by each of the entity's wholly-owned ship-owning subsidiaries who act as guarantors | item |  |  |  |  | 1 |  |  |  |  |  |  |  |
Paydown of debt |  |  |  | $ 5,075 |  |  |  |  |  |  |  |  |
Prepayment of the outstanding indebtedness |  | $ 5,075 |  |  |  |  |  |  |  |  |  |  |
Repayment of secured debt |  |  |  |  |  |  |  |  | 145,268 |  |  |  |
Long-term Debt |  |  |  |  |  |  |  |  |  | $ 0 | $ 0 |  |
Payment of upfront fees |  |  | 350 |  |  |  |  |  |  |  |  |  |
Secured Debt | $253 Million Term Loan Facility | LIBOR |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Applicable margin over reference rate for interest payable, before increase (as a percent) |  |  |  |  | 3.00% |  |  |  |  |  |  |  |
Secured Debt | $253 Million Term Loan Facility | Minimum | LIBOR |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Reference rate |  |  |  |  | Three-month LIBOR |  |  |  |  |  |  |  |
Secured Debt | $253 Million Term Loan Facility | Maximum |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Reference rate |  |  |  |  | Six-month LIBOR |  |  |  |  |  |  |  |
Secured Debt | $100 Million Term Loan Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  | $ 100,000 |  |  | 100,000 |  |  |  |
Number of vessels acquired | item |  |  |  |  |  | 5 |  |  |  |  |  |  |
Number of drawdowns | tranche |  |  |  |  |  | 5 |  |  |  |  |  |  |
Number of drawdowns per vessel | tranche |  |  |  |  |  | 1 |  |  |  |  |  |  |
Reference rate |  |  |  |  |  | Three-month LIBOR |  |  |  |  |  |  |
Commitment fee on unused daily average unutilized commitment (as a percent) |  |  |  |  |  | 1.35% |  |  |  |  |  |  |
Number of vessels owned by each of the entity's wholly-owned ship-owning subsidiaries who act as guarantors | item |  |  |  |  |  | 1 |  |  |  |  |  |  |
Paydown of debt |  |  |  | 1,923 |  |  |  |  |  |  |  |  |
Drawdowns during the period |  |  |  |  |  | $ 20,000 |  |  |  |  |  |  |
Number of unencumbered vessels adding as additional collateral to cover the shortfall of fair value | item |  |  |  |  |  |  | 2 | 2 |  |  |  |  |
Repayment of secured debt |  |  |  |  |  |  |  |  | $ 60,099 |  |  |  |
Long-term Debt |  |  |  |  |  |  |  |  |  | $ 0 | $ 0 |  |
Maturity term from the date of the first drawdown |  |  |  |  |  | 7 years |  |  |  |  |  |  |
Applicable margin over reference rate (as a percent) |  |  |  |  |  | 3.00% |  |  |  |  |  |  |
Profile for Amortization Period |  |  |  |  |  | 13 years |  |  |  |  |  |  |
Payment of upfront fees |  |  | $ 165 |  |  |  |  |  |  |  |  |  |
Prepayment of amortization payment before due date | $ 1,923 |  |  |  |  |  |  |  |  |  |  |  |
Secured Debt | $100 Million Term Loan Facility | Minimum |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Reference rate |  |  |  |  |  | One-month LIBOR |  |  |  |  |  |  |
Secured Debt | $100 Million Term Loan Facility | Maximum |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Reference rate |  |  |  |  |  | Six-month LIBOR |  |  |  |  |  |  |
Secured Debt | $100 Million and $253 Million Term Loan Facilities |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Minimum cash balance required per vessel owned |  |  |  | $ 750 |  |  |  |  |  |  |  |  |
Maximum total debt outstanding to value adjusted total assets ratio |  |  | 70.00% |  |  |  |  |  |  |  |  |  |
Maximum percentage of liquidity covenant amended |  |  | 50.00% |  |  |  |  |  |  |  |  |  |
Minimum period of available working capital lines |  |  | 6 months |  |  |  |  |  |  |  |  |  |
Secured Debt | $100 Million and $253 Million Term Loan Facilities | LIBOR |  |  |  |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Applicable margin over reference rate for interest payable, before increase (as a percent) |  |  |  | 3.00% |  |  |  |  |  |  |  |  |
Applicable margin over reference rate (as a percent) |  |  |  | 3.50% |  |  |  |  |  |  |  |  |

X
- Definition The percentage points added to the reference rate to compute the variable rate on the debt instrument before amendment. + References No definition available. + Details
Name: | gnk_DebtInstrumentBasisSpreadOnVariableRateBeforeAmendment
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of years the profile is based on for which the outstanding principle of this loan is amortized. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityAmortizationPeriodOfPrincipalAmount
Namespace Prefix: | gnk_
Data Type: | xbrli:durationItemType
Balance Type: | na
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 Represents the minimum cash balance per vessel in its fleet required to be maintained by the entity. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityMinimumCashBalanceRequiredPerVesselsOwned
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Represents the number of draws made as of the reporting date. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityNumberOfDrawdowns
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Represents the number of draws per vessel made as of the reporting date. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityNumberOfDrawdownsPerVessel
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Represents the amount of upfront fee paid under the terms of credit facilities. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityPaymentOfUpfrontFee
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Represents the maturity term of the credit facility from the date of the first drawdown. + References No definition available. + Details
Name: | gnk_LineOfCreditFacilityTermCommencingFromDateOfFirstDrawdown
Namespace Prefix: | gnk_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the amended maximum percentage of fleet wide liquidity covenant required. + References No definition available. + Details
Name: | gnk_MaximumPercentageOfLiquidityCovenantAmended
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the ratio of total debt outstanding to value adjusted total assets (total assets adjustment for the difference between book value and market value of fleet vessels). + References No definition available. + Details
Name: | gnk_MaximumTotalDebtToValueAdjustedTotalAssetsRatio
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the minimum period of working capital lines with remaining availability, in which the covenant of 50% of the required covenant of cash per vessel is satisfied. + References No definition available. + Details
Name: | gnk_MinimumPeriodOfWorkingCapitalLinesWithRemainingAvailability
Namespace Prefix: | gnk_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number of unencumbered assets adding as additional collateral to cover the shortfall of fair value of mortgaged assets. + References No definition available. + Details
Name: | gnk_NumberOfUnencumberedAssetsAddingAsAdditionalCollateralToCoverShortfall
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the number of vessels owned by each of the entity's wholly-owned ship-owning subsidiaries who act as guarantors under debt instrument. + References No definition available. + Details
Name: | gnk_NumberOfVesselsOwnedByWhollyOwnedShipOwningSubsidiariesWhichProvideDebtGuarantee
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Represents the number of vessels to be acquired by the entity under purchase agreement. + References No definition available. + Details
Name: | gnk_NumberOfVesselsToBeAcquiredUnderPurchaseAgreement
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of cash outflow for prepayment of amortization payment before due date. + References No definition available. + Details
Name: | gnk_PrepaymentOfAmortizationPayment
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of payment made towards outstanding debt during the period. + References No definition available. + Details
Name: | gnk_PrepaymentOfOutstandingDebt
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
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 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 The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

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 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=98514028&loc=d3e3255-108585 + Details
Name: | us-gaap_ProceedsFromIssuanceOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. + References No definition available. + Details
Name: | us-gaap_RepaymentsOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
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=98514028&loc=d3e3291-108585 + 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_SeniorSecuredTermLoanFacilityMember
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: | us-gaap_RangeAxis=us-gaap_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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