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Unaudited Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Total revenues $ 246,492 $ 207,007 $ 588,392 $ 445,168
Voyage expenses (61,558) (97,398) (180,799) (200,397)
Vessel operating expenses (note 13b) (46,218) (53,600) (96,867) (108,187)
Time-charter hire expenses (9,296) (10,792) (19,175) (20,240)
Depreciation and amortization (29,546) (30,658) (59,178) (60,523)
General and administrative expenses (note 13b) (9,784) (9,508) (19,070) (18,673)
Gain (loss) on sale of assets and write-down of assets (note15) 2,896 0 (191) 0
Income from operations 92,986 5,051 213,112 37,148
Interest expense (13,492) (16,607) (28,627) (33,549)
Interest income 567 221 823 586
Realized and unrealized loss on derivative instruments (note 8) (589) (1,778) (1,416) (2,625)
Equity income (loss) 3,188 (169) 5,128 584
Other income (note 9) 940 614 2,083 249
Net income (loss) before income tax 83,600 (12,668) 191,103 2,393
Income tax recovery (expense) (note 10) 14,598 (1,639) 13,934 (4,253)
Net income (loss) $ 98,198 $ (14,307) $ 205,037 $ (1,860)
Per common share amounts (note 14)        
- Basic earnings (loss) per share $ 2.91 $ (0.43) $ 6.08 $ (0.06)
- Diluted earnings (loss) per share $ 2.89 $ (0.43) $ 6.04 $ (0.06)
Weighted-average number of Class A and Class B common stock outstanding (note 14)        
- Basic 33,727,978 33,623,800 33,698,972 33,604,397
- Diluted 33,978,730 33,623,800 33,962,511 33,604,397
Voyage charter revenues        
REVENUES        
Total revenues $ 207,926 $ 191,495 $ 525,404 $ 413,572
Time-charter [Member]        
REVENUES        
Total revenues 34,986 1,496 50,553 4,906
Other revenues        
REVENUES        
Total revenues $ 3,580 $ 14,016 $ 12,435 $ 26,690