XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenues $ 87,524 $ 103,776 $ 260,066 $ 280,790
Operating expenses:        
Voyage expenses 33,487 42,967 123,550 127,789
Vessel operating expenses 23,460 24,711 66,332 72,260
Charter hire expenses 1,020 5,475 5,527 12,743
General and administrative expenses (inclusive of nonvested stock amortization expense of $534, $575, $1,491 and $1,596, respectively) 5,115 6,144 16,353 18,253
Technical management fees 1,739 1,885 5,316 5,710
Depreciation and amortization 16,115 18,184 49,619 54,532
Impairment of vessel assets 21,896 12,182 134,710 26,078
Loss (gain) on sale of vessels 358   844 (611)
Total operating expenses 103,190 111,548 402,251 316,754
Operating loss (15,666) (7,772) (142,185) (35,964)
Other (expense) income:        
Other (expense) income (436) 86 (900) 523
Interest income 101 892 948 3,292
Interest expense (5,097) (7,797) (17,515) (24,496)
Impairment of right-of-use asset       (223)
Other expense (5,432) (6,819) (17,467) (20,904)
Net loss $ (21,098) $ (14,591) $ (159,652) $ (56,868)
Net loss per share-basic $ (0.50) $ (0.35) $ (3.81) $ (1.36)
Net loss per share-diluted $ (0.50) $ (0.35) $ (3.81) $ (1.36)
Weighted average common shares outstanding-basic 41,928,682 41,749,200 41,898,756 41,739,287
Weighted average common shares outstanding-diluted 41,928,682 41,749,200 41,898,756 41,739,287
Voyage        
Revenues:        
Revenues $ 87,524 $ 103,776 $ 260,066 $ 280,790