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Unaudited Consolidated Statements of (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES        
Net pool revenues (note 12a) $ 28,246 $ 51,217 $ 108,535 $ 258,356
Time-charter revenues (note 12a) 24,681 23,276 85,102 68,884
Voyage charter revenues 25,397 23,176 94,881 59,750
Other revenues (note 4) 12,914 11,885 41,994 40,359
Total revenues 91,238 109,554 330,512 427,349
Voyage expenses (note 12a) (18,303) (14,638) (61,488) (36,488)
Vessel operating expenses (note 12a) (40,958) (44,783) (131,949) (136,245)
Time-charter hire expense (5,835) (11,335) (27,459) (47,964)
Depreciation and amortization (24,328) (25,888) (73,652) (78,576)
General and administrative expenses (note 12a) (7,622) (8,214) (24,875) (27,188)
Loss on sale of vessels (note 13) (7,926) (7,903) (12,495) (14,323)
(Loss) income from operations (13,734) (3,207) (1,406) 86,565
Interest expense (7,299) (6,809) (21,681) (22,421)
Interest income 305 18 744 70
Realized and unrealized gain (loss) on derivative instruments (note 8) 390 3,629 (709) (7,902)
Equity (loss) income (note 5) (274) 567 (27,174) 6,416
Other (expense) income (note 9) (1,768) 562 (5,918) (3,985)
Net (loss) income $ (22,380) $ (5,240) $ (56,144) $ 58,743
Per common share amounts (note 14)        
- Basic (loss) earnings per share (usd per share) $ (0.12) $ (0.03) $ (0.31) $ 0.35
- Diluted (loss) earnings per share (usd per share) (0.12) (0.03) (0.31) 0.35
- Cash dividends declared (usd per share) $ 0.03 $ 0.06 $ 0.09 $ 0.15
Weighted-average number of Class A and Class B common stock outstanding (note 14)        
- Basic (shares) 179,224,094 170,059,360 178,853,698 169,967,796
- Diluted (shares) 179,224,094 170,059,360 178,853,698 170,233,915