Segments Segment (Tables)

6 Months Ended

Jun. 30, 2020

The following schedule presents segment information about the Company’s operations for the six months ended June 30, 2020 and 2019 (in thousands).


	Kamsarmax		Ultramax		Corporate		Total













Six Months Ended June 30, 2020
Vessel revenue	$	27,946	$	39,044	$	—	$	66,990
Voyage expenses	1,453		1,367		—		2,820
Vessel operating cost	15,629		31,306		—		46,935
Charterhire expense	7,207		1,967		—		9,174
Vessel depreciation	8,893		16,130		—		25,023
General and administrative expenses	1,011		2,056		10,238		13,305
Loss / write-down on assets held for sale	9,394		7,615		—		17,009
Interest income	—		—		172		172
Income from equity investment	—		—		(102,324)		(102,324)
Foreign exchange loss	—		—		(130)		(130)
Financial expense, net	—		—		(20,196)		(20,196)
Segment loss	$	(15,641)	$	(21,397)	$	(132,716)	$	(169,754)


	Kamsarmax		Ultramax		Corporate		Total














Six Months Ended June 30, 2019
Vessel revenue	$	39,111	$	61,977	$	—	$	101,088
Voyage expenses	146		199		—		345
Vessel operating cost	17,331		34,165		—		51,496
Charterhire expense	1,487		1,795		—		3,282

Vessel depreciation	9,163		18,107		—		27,270
General and administrative expenses	1,112		2,062		12,886		16,060
Loss / write down on assets held for sale	7,352		4,883		—		12,235
Interest income	—		—		674		674
Income from equity investment	—		—		68,646		68,646
Foreign exchange loss	—		—		(51)		(51)
Financial expense, net	—		—		(28,170)		(28,170)
Segment income	$	2,520	$	766	$	28,213	$	31,499

Identifiable assets, classified by the segment by which the Company operates, are as follows (in thousands):


Identifiable assets
	June 30, 2020		December 31, 2019
Held by vessel owning subsidiaries or allocated to segments:

Kamsarmax	476,481		543,280
Ultramax	892,857		920,149
Held by parent and other subsidiaries, not allocated to segments:
Cash and cash equivalents	56,502		19,564
Other	61,873		182,566
Total identifiable assets	$	1,487,713	$	1,665,559