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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 46,259 $ 58,142
Restricted cash 5,643 5,643
Due from charterers, net of a reserve of $2,516 and $2,141, respectively 19,522 25,333
Prepaid expenses and other current assets 10,162 8,399
Inventories 27,567 21,601
Fair value of derivative instruments 2,369 6,312
Total current assets 111,522 125,430
Noncurrent assets:    
Vessels, net of accumulated depreciation of $284,693 and $303,098, respectively 939,749 1,002,810
Deferred drydock, net of accumulated amortization of $19,431 and $15,456 respectively 32,982 32,254
Fixed assets, net of accumulated depreciation and amortization of $7,430 and $6,254, respectively 7,435 8,556
Operating lease right-of-use assets 2,994 4,078
Restricted cash 315 315
Fair value of derivative instruments   423
Total noncurrent assets 983,475 1,048,436
Total assets 1,094,997 1,173,866
Current liabilities:    
Accounts payable and accrued expenses 27,428 29,475
Deferred revenue 6,534 4,958
Current operating lease liabilities 2,266 2,107
Total current liabilities: 36,228 36,540
Noncurrent liabilities:    
Long-term operating lease liabilities 2,386 4,096
Long-term debt, net of deferred financing costs of $4,756 and $6,079, respectively 139,994 164,921
Total noncurrent liabilities 142,380 169,017
Total liabilities 178,608 205,557
Commitments and contingencies
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 42,536,983 and 42,327,181 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 425 423
Additional paid-in capital 1,558,541 1,588,777
Accumulated other comprehensive income 2,257 6,480
Accumulated deficit (646,055) (628,247)
Total Genco Shipping & Trading Limited shareholders' equity 915,168 967,433
Noncontrolling interest 1,221 876
Total equity 916,389 968,309
Total liabilities and equity $ 1,094,997 $ 1,173,866