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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 43,690 $ 46,542
Restricted cash 315  
Due from charterers, net of a reserve of $1,620 and $3,257, respectively 21,376 17,815
Prepaid expenses and other current assets 10,375 10,154
Inventories 22,234 26,749
Fair value of derivative instruments   572
Vessels held for sale   55,440
Total current assets 97,990 157,272
Noncurrent assets:    
Vessels, net of accumulated depreciation of $322,807 and $296,452, respectively 915,022 945,114
Deferred drydock, net of accumulated amortization of $33,610 and $23,047, respectively 30,048 29,502
Fixed assets, net of accumulated depreciation and amortization of $9,811 and $8,063, respectively 7,184 7,071
Operating lease right-of-use assets 6,358 2,628
Restricted cash   315
Total noncurrent assets 958,612 984,630
Total assets 1,056,602 1,141,902
Current liabilities:    
Accounts payable and accrued expenses 34,492 24,245
Deferred revenue 4,665 8,746
Current operating lease liabilities 1,503 2,295
Total current liabilities: 40,660 35,286
Noncurrent liabilities:    
Long-term operating lease liabilities 5,539 1,801
Long-term debt, net of deferred financing costs of $7,825 and $9,831, respectively 82,175 190,169
Total noncurrent liabilities 87,714 191,970
Total liabilities 128,374 227,256
Commitments and contingencies (Note 18)
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 42,757,895 and 42,546,959 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively 427 425
Additional paid-in capital 1,491,032 1,553,421
Accumulated other comprehensive income 0 527
Accumulated deficit (564,716) (641,117)
Total Genco Shipping & Trading Limited shareholders' equity 926,743 913,256
Noncontrolling interest 1,485 1,390
Total equity 928,228 914,646
Total liabilities and equity $ 1,056,602 $ 1,141,902