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Unaudited Consolidated Statements of (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES        
Net pool revenues (note 11a) $ 33,100 $ 93,197 $ 80,289 $ 207,139
Time-charter revenues (note 11a) 30,091 22,621 60,421 45,608
Voyage charter revenues 30,140 16,025 69,484 36,574
Other revenues (note 4) 15,458 14,303 29,080 28,474
Total revenues 108,789 146,146 239,274 317,795
Voyage expenses (note 11a) (19,430) (9,352) (43,185) (21,850)
Vessel operating expenses (note 11a) (46,853) (46,389) (90,991) (91,462)
Time-charter hire expense (7,997) (15,913) (21,624) (36,629)
Depreciation and amortization (24,415) (25,621) (49,324) (52,688)
General and administrative expenses (note 11a) (8,365) (9,503) (17,253) (18,974)
Loss on sale of vessels (note 12) (142) (6,420) (4,569) (6,420)
Income (loss) from operations 1,587 32,948 12,328 89,772
Interest expense (7,076) (7,341) (14,382) (15,612)
Interest income 360 26 439 52
Realized and unrealized loss on derivative instruments (note 7) (1,560) (3,750) (1,099) (11,531)
Equity (loss) income (note 5) (28,027) 3,615 (26,900) 5,849
Other expense (note 8) (2,761) (1,899) (4,150) (4,547)
Net (loss) income $ (37,477) $ 23,599 $ (33,764) $ 63,983
Per common share amounts (note 13)        
- Basic (loss) earnings per share (usd per share) $ (0.22) $ 0.14 $ (0.21) $ 0.39
- Diluted (loss) earnings per share (usd per share) (0.22) 0.14 (0.21) 0.39
- Cash dividends declared (usd per share) $ 0.03 $ 0.09 $ 0.06 $ 0.09
Weighted-average number of Class A and Class B common stock outstanding (note 13)        
- Basic (shares) 169,963,717 156,208,917 167,173,392 156,146,287
- Diluted (shares) 169,963,717 156,446,895 167,173,392 156,469,816