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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 107,047 $ 90,556 $ 224,482 $ 184,947
Operating expenses:        
Voyage expenses 30,273 28,830 67,473 66,265
Vessel operating expenses 26,977 22,586 52,909 46,979
Charter hire expenses 2,455 1,040 5,965 4,705
General and administrative expenses (inclusive of nonvested stock amortization expense of $1,451, $1,219, $2,833 and $2,778, respectively) 6,320 6,933 13,984 14,682
Technical management expenses 1,260 1,349 2,291 2,111
Depreciation and amortization 17,096 16,791 34,319 32,736
Impairment of vessel assets 5,634 0 5,634 0
Net gain on sale of vessels (13,206)   (12,228)  
Other operating expense 3,924   5,728  
Total operating expenses 80,733 77,529 176,075 167,478
Operating income 26,314 13,027 48,407 17,469
Other income (expense):        
Other (expense) income (90) 125 (24) (198)
Interest income 721 520 1,545 1,290
Interest expense (3,452) (2,131) (7,492) (4,160)
Other expense, net (2,821) (1,486) (5,971) (3,068)
Net income 23,493 11,541 42,436 14,401
Less: Net income (loss) attributable to noncontrolling interest 26 (21) 171 205
Net income attributable to Genco Shipping & Trading Limited $ 23,467 $ 11,562 $ 42,265 $ 14,196
Earnings per share-basic $ 0.54 $ 0.27 $ 0.98 $ 0.33
Earnings per share-diluted $ 0.54 $ 0.27 $ 0.97 $ 0.33
Weighted average common shares outstanding-basic 43,073,440 42,786,918 42,995,844 42,709,916
Weighted average common shares outstanding-diluted 43,664,447 43,134,152 43,635,513 43,115,859
Voyage revenues        
Revenues:        
Total revenues $ 107,047 $ 90,556 $ 224,482 $ 184,947