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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 46,542 $ 58,142
Restricted cash   5,643
Due from charterers, net of a reserve of $3,257 and $2,141, respectively 17,815 25,333
Prepaid expenses and other current assets 10,154 8,399
Inventories 26,749 21,601
Fair value of derivative instruments 572 6,312
Vessels held for sale 55,440  
Total current assets 157,272 125,430
Noncurrent assets:    
Vessels, net of accumulated depreciation of $296,452 and $303,098, respectively 945,114 1,002,810
Deferred drydock, net of accumulated amortization of $23,047 and $15,456 respectively 29,502 32,254
Fixed assets, net of accumulated depreciation and amortization of $8,063 and $6,254, respectively 7,071 8,556
Operating lease right-of-use assets 2,628 4,078
Restricted cash 315 315
Fair value of derivative instruments   423
Total noncurrent assets 984,630 1,048,436
Total assets 1,141,902 1,173,866
Current liabilities:    
Accounts payable and accrued expenses 24,245 29,475
Deferred revenue 8,746 4,958
Current operating lease liabilities 2,295 2,107
Total current liabilities: 35,286 36,540
Noncurrent liabilities:    
Long-term operating lease liabilities 1,801 4,096
Long-term debt, net of deferred financing costs of $9,831 and $6,079, respectively 190,169 164,921
Total noncurrent liabilities 191,970 169,017
Total liabilities 227,256 205,557
Commitments and contingencies (Note 17)
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 42,546,959 and 42,327,181 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively 425 423
Additional paid-in capital 1,553,421 1,588,777
Accumulated other comprehensive income 527 6,480
Accumulated deficit (641,117) (628,247)
Total Genco Shipping & Trading Limited shareholders' equity 913,256 967,433
Noncontrolling interest 1,390 876
Total equity 914,646 968,309
Total liabilities and equity $ 1,141,902 $ 1,173,866