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v3.20.1

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, 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 |  |  |  |  |
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 | (4,072) | (4,072)
Net Loss | 0 |  | 0 | 0 | 0 | (95,306) | (95,306)
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) | (308,803) | 602,031
Increase (decrease) in Shareholders' Equity [Roll Forward] |  |  |  |  |  |  |
Net Loss | 0 |  | 0 | 0 | 0 | (10,352) | (10,352)
Coverage of Accumulated Deficit | 0 |  | 0 | (308,803) | 0 | 308,803 | 0
Reduction of share premium | $ 0 |  | (103,379) | 103,379 | 0 | 0 | 0
Common Shares Issued, net of issuance cost (in shares) | 5,260,968 | 0 |  |  |  |  |
Common Shares Issued, net of issuance cost | $ 52 |  | 17,870 | 0 | 0 | 0 | 17,922
Other Comprehensive Loss | $ 0 |  | 0 | 0 | (78) | 0 | (78)
Share based compensation (in shares) | 0 | 0 |  |  |  |  |
Share based compensation | $ 0 |  | 156 | 0 | 0 | 0 | (156)
Forfeited shares - 2011 Equity Incentive Plan (in shares) |  | 20,000 |  |  |  |  |
Dividends Distributed | $ 0 |  | 0 | (14,255) | 0 | 0 | (14,255)
Balance (in shares) at Dec. 31, 2019 | 147,230,634 | 42,000 |  |  |  |  |
Balance at Dec. 31, 2019 | $ 1,472 |  | $ 38,499 | $ 567,202 | $ (1,396) | $ (10,352) | $ 595,424

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