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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 47,934 $ 58,142
Restricted cash 5,643 5,643
Due from charterers, net of a reserve of $2,520 and $2,141, respectively 19,693 25,333
Prepaid expenses and other current assets 10,420 8,399
Inventories 22,962 21,601
Fair value of derivative instruments 4,030 6,312
Total current assets 110,682 125,430
Noncurrent assets:    
Vessels, net of accumulated depreciation of $328,339 and $303,098, respectively 979,054 1,002,810
Deferred drydock, net of accumulated amortization of $19,505 and $15,456 respectively 33,858 32,254
Fixed assets, net of accumulated depreciation and amortization of $7,596 and $6,254, respectively 8,127 8,556
Operating lease right-of-use assets 3,357 4,078
Restricted cash 315 315
Fair value of derivative instruments   423
Total noncurrent assets 1,024,711 1,048,436
Total assets 1,135,393 1,173,866
Current liabilities:    
Accounts payable and accrued expenses 19,042 29,475
Deferred revenue 7,945 4,958
Current operating lease liabilities 2,237 2,107
Total current liabilities: 29,224 36,540
Noncurrent liabilities:    
Long-term operating lease liabilities 2,963 4,096
Long-term debt, net of deferred financing costs of $5,239 and $6,079, respectively 148,261 164,921
Total noncurrent liabilities 151,224 169,017
Total liabilities 180,448 205,557
Commitments and contingencies
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 42,528,689 and 42,327,181 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively 425 423
Additional paid-in capital 1,563,631 1,588,777
Accumulated other comprehensive income 3,859 6,480
Accumulated deficit (614,051) (628,247)
Total Genco Shipping & Trading Limited shareholders' equity 953,864 967,433
Noncontrolling interest 1,081 876
Total equity 954,945 968,309
Total liabilities and equity $ 1,135,393 $ 1,173,866