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Unaudited Consolidated Statements of (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Total revenues $ 115,890 $ 170,240 $ 382,059 $ 758,632
Voyage expenses (78,335) (57,777) (219,153) (238,576)
Vessel operating expenses (notes 13b and 13c) (39,103) (46,336) (125,280) (143,203)
Time-charter hire expenses (2,870) (9,070) (8,638) (28,245)
Depreciation and amortization (25,837) (29,992) (79,416) (89,170)
General and administrative expenses (note 13b) (10,542) (9,887) (34,245) (28,957)
Write-down and loss on sale of assets (note15) (697) (44,973) (88,098) (45,164)
Restructuring Charges 0 (1,398) 0 (1,398)
(Loss) income from operations (41,494) (29,193) (172,771) 183,919
Interest expense (8,583) (12,553) (27,950) (41,180)
Interest income 29 337 88 1,160
Realized and unrealized loss on derivative instruments (note 8) (227) (414) (36) (1,830)
Equity (loss) income (873) 46 (2,061) 5,174
Other (expense) income (note 9) (1,581) (470) (2,056) 1,613
Net (loss) income before income tax (52,729) (42,247) (204,786) 148,856
Income tax recovery (expense) (note 10) 674 (2,187) 2,222 11,747
Net (loss) income $ (52,055) $ (44,434) $ (202,564) $ 160,603
Per common share amounts (note 14)        
- Basic (loss) earnings per share $ (1.54) $ (1.32) $ (5.98) $ 4.76
- Diluted (loss) earnings per share $ (1.54) $ (1.32) $ (5.98) $ 4.73
Weighted-average number of Class A and Class B common stock outstanding (note 14)        
- Basic 33,898,299 33,738,143 33,846,115 33,712,124
- Diluted 33,898,299 33,738,143 33,846,115 33,942,191
Voyage charter revenues        
Total revenues $ 107,079 $ 125,819 $ 333,278 $ 651,223
Time-charter [Member]        
Total revenues 6,097 42,180 41,447 92,733
Other revenues        
Total revenues $ 2,714 $ 2,241 $ 7,334 $ 14,676