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v3.19.1

Consolidated Statemenets of Operations - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
REVENUES: |  |  |
Revenues | $ 201,548 | $ 154,040 | $ 113,959
Commissions | (8,357) | (6,008) | (4,187)
Net revenues | 193,191 | 148,032 | 109,772
EXPENSES: |  |  |
Voyage expenses | (6,378) | (3,932) | (7,679)
Vessel operating expenses | (63,512) | (52,794) | (49,519)
Depreciation | (48,067) | (51,424) | (49,485)
General and administrative expenses |  |  |
Management fee to related parties | (16,536) | (13,511) | (11,611)
Company administration expenses | (2,706) | (2,607) | (3,770)
Early redelivery cost, net | (105) | (1,263) | 0
Other operating income/(expense) | 0 | (390) | 794
Loss on sale of assets | 0 | (120) | (2,750)
Impairment loss | 0 | (91,293) | (17,163)
Operating (loss)/income | 55,887 | (69,302) | (31,411)
OTHER (EXPENSE)/INCOME: |  |  |
Interest expense | (25,713) | (23,224) | (19,576)
Other finance (cost)/income | (973) | 7,651 | (1,735)
Interest income | 929 | 799 | 515
(Loss)/gain on derivatives | 18 | 72 | (620)
Foreign currency (loss)/gain | (670) | 1,782 | (76)
Amortization and write-off of deferred finance charges | (1,794) | (2,457) | (3,063)
Net (loss)/income | 27,684 | (84,679) | (55,966)
Less preferred dividend | 11,384 | 12,316 | 14,025
Less preferred deemed dividend | 0 | 2,146 | 0
Net (loss)/income available to common shareholders | $ 16,300 | $ (99,141) | $ (69,991)
(Loss)/earnings per share in U.S. Dollars, basic and diluted (in USD per share) | $ 0.16 | $ (0.98) | $ (0.83)
Weighted average number of shares, basic and diluted (in shares) | 101,604,339 | 100,932,876 | 84,526,411

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- Definition Commissions (address and brokerage) reflect payments, made to third-party brokers or our charterers, directly related to our revenues from which they are deducted, regardless of charter type, deferred and amortized over the related charter period presented as a separate line item. + References No definition available. + Details
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- Definition Preferred deemed dividend is the difference recorded between (i) the cash paid to the preferred shareholders and the fair value of issued common shares and (ii) the carrying amount of the preferred stock immediately before the exchange net of issuance costs. + References No definition available. + Details
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- Definition The aggregate total of public company expenses incurred in relation to our operation as a public company such as professional fees, compensation paid to our directors and officers, listing fees and other miscellaneous expenses. + References No definition available. + Details
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- Definition Revenues generated from charterers for the time or voyage charter hire of vessels.Revenues from time charter may also include ballast bonus, which is an amount paid by the charterer for repositioning the vessel at the charterers disposal, and other miscellaneous revenues from vessel operations. + References No definition available. + Details
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- Definition Voyage expenses include costs for draft surveys, hold cleaning, postage and other minor miscellaneous expenses related to the voyage such as the United States federal income tax that is paid in respect of our U.S. source shipping income (imposed on gross income without the allowance for any deductions). + References No definition available. + Details
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