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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 30,243 $ 43,690
Restricted cash 315 315
Due from charterers, net of a reserve of $1,706 and $1,620, respectively 18,211 21,376
Prepaid expenses and other current assets 9,432 10,375
Inventories 23,337 22,234
Total current assets 81,538 97,990
Noncurrent assets:    
Vessels, net of accumulated depreciation of $334,881 and $322,807, respectively 907,212 915,022
Deferred drydock, net of accumulated amortization of $34,107 and $33,610, respectively 36,526 30,048
Fixed assets, net of accumulated depreciation and amortization of $10,469 and $9,811, respectively 7,230 7,184
Operating lease right-of-use assets 6,024 6,358
Total noncurrent assets 956,992 958,612
Total assets 1,038,530 1,056,602
Current liabilities:    
Accounts payable and accrued expenses 39,343 34,492
Deferred revenue 5,345 4,665
Current operating lease liabilities 907 1,503
Total current liabilities: 45,595 40,660
Noncurrent liabilities:    
Long-term operating lease liabilities 5,616 5,539
Long-term debt, net of deferred financing costs of $7,332 and $7,825, respectively 82,668 82,175
Total noncurrent liabilities 88,284 87,714
Total liabilities 133,879 128,374
Commitments and contingencies (Note 15)
Equity:    
Common stock, par value $0.01; 500,000,000 shares authorized; 42,949,464 and 42,757,895 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 429 427
Additional paid-in capital 1,479,415 1,491,032
Accumulated deficit (576,639) (564,716)
Total Genco Shipping & Trading Limited shareholders' equity 903,205 926,743
Noncontrolling interest 1,446 1,485
Total equity 904,651 928,228
Total liabilities and equity $ 1,038,530 $ 1,056,602