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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 44,439 $ 58,142
Restricted cash 5,643 5,643
Due from charterers, net of a reserve of $2,157 and $2,141, respectively 16,692 25,333
Prepaid expenses and other current assets 10,393 8,399
Inventories 25,029 21,601
Fair value of derivative instruments 5,048 6,312
Total current assets 107,244 125,430
Noncurrent assets:    
Vessels, net of accumulated depreciation of $315,639 and $303,098, respectively 990,643 1,002,810
Deferred drydock, net of accumulated amortization of $17,377 and $15,456 respectively 33,608 32,254
Fixed assets, net of accumulated depreciation and amortization of $6,887 and $6,254, respectively 8,372 8,556
Operating lease right-of-use assets 3,718 4,078
Restricted cash 315 315
Fair value of derivative instruments   423
Total noncurrent assets 1,036,656 1,048,436
Total assets 1,143,900 1,173,866
Current liabilities:    
Accounts payable and accrued expenses 26,975 29,475
Deferred revenue 5,029 4,958
Current operating lease liabilities 2,190 2,107
Total current liabilities: 34,194 36,540
Noncurrent liabilities:    
Long-term operating lease liabilities 3,533 4,096
Long-term debt, net of deferred financing costs of $5,661 and $6,079, respectively 156,589 164,921
Total noncurrent liabilities 160,122 169,017
Total liabilities 194,316 205,557
Commitments and contingencies
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 42,507,748 and 42,327,181 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 425 423
Additional paid-in capital 1,568,818 1,588,777
Accumulated other comprehensive income 4,852 6,480
Accumulated deficit (625,613) (628,247)
Total Genco Shipping & Trading Limited shareholders' equity 948,482 967,433
Noncontrolling interest 1,102 876
Total equity 949,584 968,309
Total liabilities and equity $ 1,143,900 $ 1,173,866