CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 98,853	$ 50,820
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss on disposal of vessels and vessel equipment	149	147
Payment-in-kind interest expense	8,602	3,894
Depreciation and amortization	37,504	22,010
Amortization of fair value of related-party chartered-in vessel	427	596
Amortization of deferred financing costs	4,866	438
Write-off of commitment premium shares		6,040
Net unrealized loss on derivative financial instrument	1,559
Stock-based compensation expense	2,855	10,065
Provision for bad debts	(1,085)	1,721
(Gain) / loss on disposal	728
Changes in assets and liabilities:
Decrease (increase) in due from charterers	7,756	(10,267)
Increase in due from Navig8 pools	(5,994)	(2,781)
Decrease in prepaid expenses and other current and noncurrent assets	57,743	7,061
Increase in working capital at Navig8 pools	(1,950)	(3,750)
Decrease in accounts payable and other current and noncurrent liabilities	(2,338)	(26,629)
Deferred drydock costs incurred	(6,591)	(2,839)
Net cash provided by operating activities	201,628	56,526
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for vessels under construction	(565,922)	(49,060)
Payment of professional fees		(7,369)
Payment of capitalized interest	(11,349)	(7,056)
Proceeds from sale of vessels	16,925
Cash at Navig8 Crude upon merger		28,875
Deposit of cash merger consideration		(4,527)
Restricted cash		(763)
Purchase of vessel improvements and other fixed assets	(5,089)	(1,284)
Net cash used in investing activities	(565,435)	(41,184)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit facilities and senior notes	421,695
Repayments of credit facilities	(80,955)
Proceeds from issuance of common stock	26	210,000
Payment of underwriters' commission		(13,650)
Payment of common stock issuance costs		(1,930)
Deferred financing costs paid	(11,425)	(526)
Net cash provided by financing activities	329,341	193,894
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS		397
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(34,466)	209,633
CASH AND CASH EQUIVALENTS, beginning of period	157,535	147,303
CASH AND CASH EQUIVALENTS, end of period	123,069	356,936
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION -
Cash paid during the period for interest, net of capitalized interest	$ 11,412	$ 6,760