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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 99,332 $ 83,361 $ 323,814 $ 268,309
Operating expenses:        
Voyage expenses 28,232 34,256 95,705 100,522
Vessel operating expenses 24,847 24,746 77,756 71,725
Charter hire expenses 1,267 2,026 7,232 6,731
General and administrative expenses (inclusive of nonvested stock amortization expense of $1,508, $1,397, $4,341 and $4,175, respectively) 6,831 6,585 20,815 21,267
Technical management expenses 1,005 973 3,296 3,084
Depreciation and amortization 16,620 17,026 50,939 49,762
Impairment of vessel assets 961 28,102 6,595 28,102
Net gain on sale of vessels (4,465)   (16,693)  
Other operating expense 0   5,728  
Total operating expenses 75,298 113,714 251,373 281,193
Operating income (loss) 24,034 (30,353) 72,441 (12,884)
Other (expense) income:        
Other expense (239) (100) (263) (298)
Interest income 749 588 2,294 1,877
Interest expense (2,970) (1,999) (10,462) (6,158)
Other expense, net (2,460) (1,511) (8,431) (4,579)
Net income (loss) 21,574 (31,864) 64,010 (17,463)
Less: Net income attributable to noncontrolling interest 115 140 286 345
Net income (loss) attributable to Genco Shipping & Trading Limited $ 21,459 $ (32,004) $ 63,724 $ (17,808)
Net earnings (loss) per share-basic $ 0.50 $ (0.75) $ 1.48 $ (0.42)
Net earnings (loss) per share-diluted $ 0.49 $ (0.75) $ 1.46 $ (0.42)
Weighted average common shares outstanding-basic 43,108,844 42,816,045 43,033,786 42,745,681
Weighted average common shares outstanding-diluted 43,656,385 42,816,045 43,642,521 42,745,681
Voyage revenues        
Revenues:        
Total revenues $ 99,332 $ 83,361 $ 323,814 $ 268,309