XML 9 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Unaudited Consolidated Statements of Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues [Abstract]        
Total revenues $ 171,659 $ 108,789 $ 340,124 $ 239,274
Voyage expenses (notes 2, 3 and 13a) 86,933 19,430 166,926 43,185
Vessel operating expenses (note 13a) (52,652) (46,853) (105,647) (90,991)
Time-charter hire expense (5,697) (7,997) (10,380) (21,624)
Depreciation and amortization (29,573) (24,415) (59,003) (49,324)
General and administrative expenses (note 13a) (9,407) (8,365) (19,192) (17,253)
Gain (loss) on sale of vessels (note 14) 170 (142) 170 (4,569)
Restructuring charges (982) 0 (982) 0
(Loss) income from operations (13,415) 1,587 (21,836) 12,328
Interest expense (13,931) (7,076) (26,660) (14,382)
Interest income 160 360 318 439
Realized and unrealized gain (loss) on derivative instruments (note 9) 1,116 (1,560) 4,129 (1,099)
Equity (loss) income (note 6) (70) (28,027) 624 (26,900)
Other expense (note 10) (1,273) (2,761) (3,141) (4,150)
Net loss $ (27,413) $ (37,477) $ (46,566) $ (33,764)
Per common share amounts (note 15)        
- Basic loss per share (usd per share) $ (0.10) $ (0.21) $ (0.17) $ (0.19)
- Diluted loss per share (usd per share) (0.10) (0.21) (0.17) (0.19)
- Cash dividends declared (usd per share) $ 0 $ 0.03 $ 0.03 $ 0.06
Weighted-average number of Class A and Class B common stock outstanding (note 15)        
- Basic and diluted (shares) 268,558,556 179,197,658 268,426,201 178,665,430
Voyage charter revenues        
Revenues [Abstract]        
Total revenues $ 144,328 $ 30,140 $ 279,970 $ 69,484
Time-charter revenues        
Revenues [Abstract]        
Total revenues 17,384 30,091 39,494 60,421
Other revenues        
Revenues [Abstract]        
Total revenues 9,947 15,458 20,660 29,080
Net pool revenues        
Revenues [Abstract]        
Total revenues $ 0 $ 33,100 $ 0 $ 80,289