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v3.19.1

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | Common Stock [Member] | Treasury Shares [Member] | Additional Paid-in Capital [Member] | Contributed Surplus [Member] | Accumulated Other Comprehensive Loss [Member] | Retained Earnings (Accumulated Deficit) [Member] | Total
--- | --- | --- | --- | --- | --- | --- | ---
Balance (in shares) at Dec. 31, 2015 | 89,182,001 | 0 |  |  |  |  |  |
Balance at Dec. 31, 2015 | $ 892 |  | $ 114,679 | $ 766,122 | $ (972) | $ 0 | $ 880,721 |
Increase (decrease) in Shareholders' Equity [Roll Forward] |  |  |  |  |  |  |  |
Net loss | $ 0 |  | 0 | 0 | 0 | (4,456) | (4,456) |
Common Shares Distributed - 2011 Equity Incentive Plan (in shares) | 137,665 | 0 |  |  |  |  |  |
Common Shares Distributed - 2011 Equity Incentive Plan | $ 1 |  | 0 | 0 | 0 | 0 | 1 |
Common Shares Issued, net of issuance cost (in shares) | 12,650,000 | 0 |  |  |  |  |  |
Common Shares Issued, net of issuance cost | $ 127 |  | 119,942 | 0 | 0 | 0 | 120,069 |
Other Comprehensive Loss | $ 0 |  | 0 | 0 | (65) | 0 | (65) |
Share based compensation (in shares) | 0 | 0 |  |  |  |  |  |
Share based compensation | $ 0 |  | 429 | 0 | 0 | 0 | 429 |
Forfeited shares - 2011 Equity Incentive Plan (in shares) |  | 13,500 |  |  |  |  |  |
Dividends Distributed | $ 0 |  | 0 | (125,650) | 0 | 0 | (125,650) |
Balance (in shares) at Dec. 31, 2016 | 101,969,666 | 13,500 |  |  |  |  |  |
Balance at Dec. 31, 2016 | $ 1,020 |  | 235,050 | 640,472 | (1,037) | (4,456) | 871,049 |
Increase (decrease) in Shareholders' Equity [Roll Forward] |  |  |  |  |  |  |  |
Net loss | 0 |  | 0 | 0 | 0 | (204,969) | (204,969) |
Reduction of share premium | $ 0 |  | (215,481) | 215,481 | 0 | 0 | $ 0 |
Common Shares Issued, net of issuance cost (in shares) | 40,000,000 | 0 |  |  |  |  | 0 |
Common Shares Issued, net of issuance cost | $ 400 |  | 103,348 | 0 | 0 | 0 | $ 103,748 |
Other Comprehensive Loss | $ 0 |  | 0 | 0 | (150) | 0 | (150) |
Share based compensation (in shares) | 0 | (4,500) |  |  |  |  |  |
Share based compensation | $ 0 |  | 522 | 0 | 0 | 0 | 522 |
Forfeited shares - 2011 Equity Incentive Plan (in shares) |  | 13,000 |  |  |  |  |  |
Dividends Distributed | $ 0 |  | 0 | (59,136) | 0 | 0 | (59,136) |
Balance (in shares) at Dec. 31, 2017 | 141,969,666 | 22,000 |  |  |  |  |  |
Balance (in shares) (ASC 606 [Member]) at Dec. 31, 2017 | 141,969,666 | 22,000 |  |  |  |  |  |
Balance at Dec. 31, 2017 | $ 1,420 |  | 123,439 | 796,817 | (1,187) | (209,425) | 711,064 |
Balance (ASC 606 [Member]) at Dec. 31, 2017 | 1,420 |  | 123,439 | 796,817 | (1,187) | (213,497) | 706,992 |
Increase (decrease) in Shareholders' Equity [Roll Forward] |  |  |  |  |  |  |  |
Effect of change in accounting policy | ASC 606 [Member] | 0 |  | 0 | 0 | 0 | (4,072) | (4,072) |
Net loss | 0 |  | 0 | 0 | 0 | (95,306) | (95,306) | [1]
Other Comprehensive Loss | $ 0 |  | 0 | 0 | (132) | 0 | (132) |
Share based compensation (in shares) | 0 | 0 |  |  |  |  |  |
Share based compensation | $ 0 |  | 413 | 0 | 0 | 0 | 413 |
Dividends Distributed | $ 0 |  | 0 | (9,936) | 0 | 0 | (9,936) |
Balance (in shares) at Dec. 31, 2018 | 141,969,666 | 22,000 |  |  |  |  |  |
Balance at Dec. 31, 2018 | $ 1,420 |  | $ 123,852 | $ 786,881 | $ (1,319) | $ (308,881) | $ 602,031 |
[1] | Basic Loss per Share is impacted by $(0.02) from implementation of ASC 606 Revenue from Contracts with Customers.

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