XML 48 R37.htm IDEA: XBRL DOCUMENT
v3.20.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impairment (Details) $ in Thousands |  |  |  |  |  |  |  |  |  |  |  |  | 3 Months Ended | 9 Months Ended |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Nov. 03, 2020 USD ($) | Oct. 16, 2020 USD ($) | Sep. 25, 2020 USD ($) | Sep. 17, 2020 USD ($) | Mar. 05, 2020 USD ($) | Dec. 11, 2019 USD ($) | Nov. 04, 2019 USD ($) | Oct. 21, 2019 USD ($) | Oct. 10, 2019 USD ($) | Sep. 25, 2019 USD ($) | Sep. 20, 2019 USD ($) | Aug. 02, 2019 USD ($) | Sep. 30, 2020 USD ($) item | Sep. 30, 2019 USD ($) | Sep. 30, 2020 USD ($) item | Sep. 30, 2019 USD ($) | Mar. 31, 2020 item | Feb. 24, 2020 item | Jun. 30, 2019 USD ($)
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net proceeds from sale of vessels |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 29,854 | $ 6,309 |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  | $ 21,896 | $ 12,182 | $ 134,710 | 26,078 |  |  |
Genco Lorraine, Baltic Cougar and Baltic Leopard |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number impaired vessel assets | item |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  | 3 |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  | $ 7,963 |  | $ 7,963 |  |  |  |
Genco Picardy, Genco Predator, Genco Provence and Genco Warrior |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number impaired vessel assets | item |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4 |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,046 |  |  |  |
Baltic Hare, Baltic Fox, Baltic Wind, Baltic Cove, Baltic Breeze, Genco Ocean, Genco Bay, Genco Avra, Genco Mare and Genco Spirit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of vessels to be disposed | item |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10 |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 85,768 |  |  |  |
Baltic Wind, Baltic Breeze and Genco Bay |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of vessels to be disposed | item |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  |
Genco Challenger |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  |  |  |  |  |  |  | $ 5,250 |  |  | $ 5,250 |  |  |  |  |  |  |
Broker commission (as a percent) |  |  |  |  |  |  |  |  | 2.00% |  |  | 2.00% |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 5,145
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,401 |  |  |
Genco Champion and Genco Charger |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,496 |  |  |
Baltic Panther |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  | 7,285 |  | 7,285 |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  | 3,711 |  | 3,711 |  |  |  |
Genco Loire |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  | 7,497 |  | 7,497 |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  | 3,407 |  | 3,407 |  |  |  |
Baltic Jaguar |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  | $ 7,300 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broker commission (as a percent) |  |  | 3.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  | 7,081 |  | 7,081 |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  | 4,138 |  | 4,138 |  |  |  |
Genco Normandy |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  |  | $ 5,850 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broker commission (as a percent) |  |  |  | 2.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  | 5,733 |  | 5,733 |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  | $ 2,677 |  | $ 2,677 |  |  |  |
Genco Raptor |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  |  |  |  | $ 10,200 | $ 10,200 |  |  |  |  |  |  |  |  |  |  |  |
Broker commission (as a percent) |  |  |  |  |  | 2.00% | 2.00% |  |  |  |  |  |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,996 |  | 9,996 |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,812 |  | 5,812 |  |  |
Genco Thunder |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  |  |  | $ 10,400 |  |  |  |  | $ 10,400 |  |  |  |  |  |  |  |  |
Broker commission (as a percent) |  |  |  |  | 2.00% |  |  |  |  | 2.00% |  |  |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,192 |  | 10,192 |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,749 |  | 5,749 |  |  |
Genco Champion |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  |  |  |  |  |  |  | $ 6,600 |  |  | $ 6,600 |  |  |  |  |  |  |  |
Broker commission (as a percent) |  |  |  |  |  |  |  | 3.00% |  |  | 3.00% |  |  |  |  |  |  |  |
Adjusted net sales price of vessel |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,402 |  | 6,402 |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 621 |  | $ 621 |  |  |
Subsequent Event | Baltic Panther |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets | $ 7,510 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broker commission (as a percent) | 3.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Genco Loire |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  | $ 7,650 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broker commission (as a percent) |  | 2.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Baltic Jaguar |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of long-lived assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of assets |  | $ 7,300 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Broker commission (as a percent) |  | 3.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

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 Adjusted net sales price of vessel. + References No definition available. + Details
Name: | gnk_NetSalesPriceOfVessel
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Number of vessels determined to be impaired. + References No definition available. + Details
Name: | gnk_NumberOfVesselAssetsImpaired
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The number of vessels to be disposed. + References No definition available. + Details
Name: | gnk_NumberOfVesselsToBeSold
Namespace Prefix: | gnk_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition The cash inflow from the sale of Vessel Assets net. + References No definition available. + Details
Name: | gnk_ProceedsFromSaleOfVesselAssetsNet
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of write-down of vessel assets, including but not limited to, assets to be disposed of and held-for-use. + References No definition available. + Details
Name: | gnk_VesselAssetImpairmentCharges
Namespace Prefix: | gnk_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

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

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=118932676&loc=d3e3179-108585 + Details
Name: | us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

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

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

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

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

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

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

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

X
- Details
Name: | us-gaap_LongLivedAssetsHeldForSaleByAssetTypeAxis=gnk_GencoNormandyMember
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: |

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