XML 86 R77.htm IDEA: XBRL DOCUMENT
v3.19.3

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands |  |  |  |  |  | 9 Months Ended |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Nov. 05, 2019 USD ($) item $ / shares | Nov. 04, 2019 USD ($) | Oct. 21, 2019 USD ($) | Oct. 10, 2019 USD ($) | Aug. 14, 2018 USD ($) | Sep. 30, 2019 USD ($) | Apr. 15, 2019 USD ($) | Feb. 28, 2019 USD ($) | Dec. 31, 2018 USD ($) | Sep. 30, 2018 USD ($) | Dec. 31, 2017 USD ($)
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Restricted cash |  |  |  |  |  |  |  |  | $ 4,947 |  | $ 7,234
Secured Debt | $495 Million Credit Facility |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  | $ 495,000 | $ 495,000 | $ 495,000 | 495,000 | $ 495,000 |
Percentage limit of consolidated net income for which dividends can be paid |  |  |  |  |  | 50.00% |  |  |  |  |
Collateral vessel replacement period |  |  |  |  |  | 180 days |  |  |  |  |
Secured Debt | $495 Million Credit Facility | Genco Challenger |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  | $ 495,000 |  |  |  |  |
Secured Debt | $495 Million Credit Facility | Genco Champion |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  | $ 495,000 |  |  |  |  |
Secured Debt | $495 Million Credit Facility | Minimum |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  |  | 135.00% |  |  |  |  |
Secured Debt | $495 Million Credit Facility | Maximum |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  |  | 200.00% |  |  |  |  |
Secured Debt | $35,000 Scrubber Tranche |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  | $ 35,000 | $ 34,628 | $ 35,000 |  |  |
Secured Debt | $108 Million Credit Facility |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  | $ 108,000 | $ 108,000 |  |  | $ 108,000 | $ 108,000 |
Percentage limit of consolidated net income for which dividends can be paid |  |  |  |  | 50.00% |  |  |  |  |  |
Secured Debt | $108 Million Credit Facility | Minimum |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  | 135.00% |  |  |  |  |  |
Secured Debt | $108 Million Credit Facility | Maximum |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  |  | 200.00% |  |  |  |  |  |
Subsequent Event | Quarterly Dividend |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Dividends declared per share | $ / shares | $ 0.175 |  |  |  |  |  |  |  |  |  |
Aggregate amount of dividend | $ 7,351 |  |  |  |  |  |  |  |  |  |
Subsequent Event | Special Dividend |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Dividends declared per share | $ / shares | $ 0.325 |  |  |  |  |  |  |  |  |  |
Aggregate amount of dividend | $ 13,652 |  |  |  |  |  |  |  |  |  |
Subsequent Event | Genco Challenger |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  |  | $ 5,250 |  |  |  |  |  |  |
Broker commission (as a percent) |  |  |  | 2.00% |  |  |  |  |  |  |
Subsequent Event | Genco Champion |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  | $ 6,600 |  |  |  |  |  |  |  |
Broker commission (as a percent) |  |  | 3.00% |  |  |  |  |  |  |  |
Subsequent Event | Secured Debt | Amended $495 and $108 Credit Facilities |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Number of amended credit facilities | item | 2 |  |  |  |  |  |  |  |  |  |
Debt covenant to pay dividends or repurchase stock - Total cash and cash equivalents to total indebtedness (as a percent) | 18.75% |  |  |  |  |  |  |  |  |  |
Percentage limit of consolidated net income for which dividends can be paid | 50.00% |  |  |  |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) | 200.00% |  |  |  |  |  |  |  |  |  |
Subsequent Event | Secured Debt | Amended $495 and $108 Credit Facilities | Minimum |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Debt covenant to pay dividends or repurchase stock - Total cash and cash equivalents | $ 100,000 |  |  |  |  |  |  |  |  |  |
Subsequent Event | Secured Debt | $495 Million Credit Facility |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity | 495,000 |  |  |  |  |  |  |  |  |  |
Subsequent Event | Secured Debt | $495 Million Credit Facility | Genco Challenger |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Restricted cash |  |  |  | $ 3,381 |  |  |  |  |  |  |
Collateral vessel replacement period |  |  |  | 180 days |  |  |  |  |  |  |
Subsequent Event | Secured Debt | $495 Million Credit Facility | Genco Champion |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Restricted cash |  |  | $ 4,101 |  |  |  |  |  |  |  |
Collateral vessel replacement period |  |  | 180 days |  |  |  |  |  |  |  |
Subsequent Event | Secured Debt | $35,000 Scrubber Tranche |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity | 35,000 |  |  |  |  |  |  |  |  |  |
Subsequent Event | Secured Debt | $108 Million Credit Facility |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity | $ 108,000 |  |  |  |  |  |  |  |  |  |
Subsequent Event | Forecast | Genco Raptor |  |  |  |  |  |  |  |  |  |  |
Subsequent Events |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  | $ 10,200 |  |  |  |  |  |  |  |  |
Broker commission (as a percent) |  | 2.00% |  |  |  |  |  |  |  |  |

X
- Definition Represents brokerage commission payable in percentage to the third party. + References No definition available. + Details
Name: | gnk_BrokerageCommission
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The debt covenant period for replacement of new vessel having an equal or greater appraised value if in compliance with collateral maintenance test. + References No definition available. + Details
Name: | gnk_DebtCovenantCollateralVesselsReplacementPeriod
Namespace Prefix: | gnk_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt convent pertaining to amount of total cash and cash equivalents, in which the entity may pay dividends or repurchase of stock. + References No definition available. + Details
Name: | gnk_DebtInstrumentCovenantTotalCashAndCashEquivalents
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Debt covenant pertaining to the percentage of total cash and cash equivalents to total indebtedness, in which the entity may pay dividends or repurchase of stock. + References No definition available. + Details
Name: | gnk_DebtInstrumentCovenantTotalCashAndCashEquivalentsToTotalIndebtednessPercentage
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 Number of credit facilities amended during the period. + References No definition available. + Details
Name: | gnk_NumberOfAmendedCreditFacilities
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition The percentage limit of consolidated net income for dividends to be paid if collateral maintenance test is met. + References No definition available. + Details
Name: | gnk_PercentageLimitOfConsolidatedNetIncomeForPaymentOfDistributions
Namespace Prefix: | gnk_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Aggregate dividends declared during the period for each share of common stock outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 + Details
Name: | us-gaap_CommonStockDividendsPerShareDeclared
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of paid and unpaid common stock dividends declared with the form of settlement in cash. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 + Details
Name: | us-gaap_DividendsCommonStockCash
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
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://fasb.org/us-gaap/role/ref/legacyRef -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 cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109223946&loc=d3e3179-108585 + Details
Name: | us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82887183&loc=d3e6676-107765 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109223946&loc=d3e3044-108585 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=98513485&loc=SL98516268-108586 + Details
Name: | us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. + References No definition available. + Details
Name: | us-gaap_SubsequentEventLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
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_AmendedNordeaBankSeniorSecuredCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gnk_GencoChallengerMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gnk_GencoChampionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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

X
- Details
Name: | us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DividendsAxis=gnk_QuarterlyDividendMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DividendsAxis=gnk_SpecialDividendMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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

X
- Details
Name: | us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gnk_GencoRaptorMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |