SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2019
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	19 - SUBSEQUENT EVENTS On February 24, 2020, the Board of Directors determined to dispose of the Company’s ten Handysize vessels; the Baltic Hare, the Baltic Fox, the Baltic Wind, the Baltic Cove, the Baltic Breeze, the Genco Ocean, the Genco Bay, the Genco Avra, the Genco Mare and the Genco Spirit, 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 2020 which will result in an impairment loss. On February 25, 2020, the Company announced a regular quarterly dividend of $0.175 per share to be paid on or about March 16, 2020, to shareholders of record as of March 6, 2020. The aggregate amount of the dividend is expected to be approximately $7,400, which the Company anticipates will be funded from cash on hand at the time the payment is to be made. On February 25, 2020, the Company’s Board of Directors awarded grants of 173,749 RSUs and options to purchase 344,568 shares of the Company’s stock at an exercise price of $7.06 to certain individuals under the 2015 Plan. The awards generally vest ratably in one-third increments on the first three anniversaries of February 25, 2020. On February 3, 2020, the Company entered into an agreement to sell the Genco Charger, a 2005-built Handysize vessel, to a third party for $5,150 less a 1.0% commission payable to a third party. The sale of the Genco Charger was completed on February 24, 2020. Refer to Note 2 — Summary of Significant Accounting Policies regarding the impairment recorded for this vessel during the year ended December 31, 2019. This vessel served as collateral under the $495 Million Credit Facility; therefore, $3,471 of the net proceeds received from the sale will remain classified as restricted cash for 180 days following the sale date. The amount can be used towards a loan prepayment under the facility or for the financing of a replacement vessel or vessels meeting certain requirements and added as collateral under the facility. If such a replacement vessel is not added as collateral within such 180 day period, the Company will be required to use the proceeds as a loan prepayment.

19 - SUBSEQUENT EVENTS

On February 24, 2020, the Board of Directors determined to dispose of the Company’s ten Handysize vessels; the Baltic Hare, the Baltic Fox, the Baltic Wind, the Baltic Cove, the Baltic Breeze, the Genco Ocean, the Genco Bay, the Genco Avra, the Genco Mare and the Genco Spirit, 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 2020 which will result in an impairment loss.

On February 25, 2020, the Company announced a regular quarterly dividend of $0.175 per share to be paid on or about March 16, 2020, to shareholders of record as of March 6, 2020. The aggregate amount of the dividend is expected to be approximately $7,400, which the Company anticipates will be funded from cash on hand at the time the payment is to be made.

On February 25, 2020, the Company’s Board of Directors awarded grants of 173,749 RSUs and options to purchase 344,568 shares of the Company’s stock at an exercise price of $7.06 to certain individuals under the 2015 Plan. The awards generally vest ratably in one-third increments on the first three anniversaries of February 25, 2020.

On February 3, 2020, the Company entered into an agreement to sell the Genco Charger, a 2005-built Handysize vessel, to a third party for $5,150 less a 1.0% commission payable to a third party. The sale of the Genco Charger was completed on February 24, 2020. Refer to Note 2 — Summary of Significant Accounting Policies regarding the impairment recorded for this vessel during the year ended December 31, 2019. This vessel served as collateral under the $495 Million Credit Facility; therefore, $3,471 of the net proceeds received from the sale will remain classified as restricted cash for 180 days following the sale date. The amount can be used towards a loan prepayment under the facility or for the financing of a replacement vessel or vessels meeting certain requirements and added as collateral under the facility. If such a replacement vessel is not added as collateral within such 180 day period, the Company will be required to use the proceeds as a loan prepayment.