$GNK
GENCO SHIPPING & TRADING LTD

2021 Q2 Form 10-Q Financial Statement

#000155837021010257 Filed on August 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $121.0M $74.21M
YoY Change 63.07% -11.18%
Cost Of Revenue $63.82M $64.20M
YoY Change -0.6% -9.58%
Gross Profit $57.19M $10.00M
YoY Change 471.92% -20.0%
Gross Profit Margin 47.26% 13.48%
Selling, General & Admin $7.159M $7.200M
YoY Change -0.57% -6.49%
% of Gross Profit 12.52% 72.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.77M $15.93M
YoY Change -13.57% -12.81%
% of Gross Profit 24.08% 159.3%
Operating Expenses $20.93M $23.10M
YoY Change -9.4% -11.15%
Operating Profit $36.25M -$13.10M
YoY Change -376.63% -52.02%
Interest Expense $4.470M $5.473M
YoY Change -18.33% -32.63%
% of Operating Profit 12.33%
Other Income/Expense, Net -$4.212M -$5.100M
YoY Change -17.41% -28.84%
Pretax Income $32.04M -$18.20M
YoY Change -276.03% -47.25%
Income Tax
% Of Pretax Income
Net Earnings $32.04M -$18.20M
YoY Change -275.99% -47.2%
Net Earnings / Revenue 26.48% -24.53%
Basic Earnings Per Share $0.76 -$0.43
Diluted Earnings Per Share $0.75 -$0.43
COMMON SHARES
Basic Shares Outstanding 42.07M 41.90M
Diluted Shares Outstanding 42.61M 41.90M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.3M $127.7M
YoY Change -8.94% -22.65%
Cash & Equivalents $116.3M $127.7M
Short-Term Investments
Other Short-Term Assets $63.46M $46.80M
YoY Change 35.6% 492.41%
Inventory $26.44M $23.03M
Prepaid Expenses
Receivables $13.91M $13.37M
Other Receivables $0.00 $0.00
Total Short-Term Assets $220.1M $210.9M
YoY Change 4.34% -3.86%
LONG-TERM ASSETS
Property, Plant & Equipment $5.877M $7.215M
YoY Change -18.54% -99.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.47M $19.50M
YoY Change 87.04% 63.87%
Total Long-Term Assets $962.4M $1.144B
YoY Change -15.85% -14.97%
TOTAL ASSETS
Total Short-Term Assets $220.1M $210.9M
Total Long-Term Assets $962.4M $1.144B
Total Assets $1.182B $1.355B
YoY Change -12.71% -13.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.82M $11.21M
YoY Change 41.21% -15.74%
Accrued Expenses $13.24M $14.60M
YoY Change -9.29% -31.78%
Deferred Revenue $9.375M $4.368M
YoY Change 114.63%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $55.92M $79.52M
YoY Change -29.68% 21.22%
Total Short-Term Liabilities $94.36M $109.7M
YoY Change -13.97% 0.9%
LONG-TERM LIABILITIES
Long-Term Debt $303.7M $403.3M
YoY Change -24.7% -6.86%
Other Long-Term Liabilities $7.144M $9.000M
YoY Change -20.62% -15.89%
Total Long-Term Liabilities $310.8M $412.3M
YoY Change -24.6% -7.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.36M $109.7M
Total Long-Term Liabilities $310.8M $412.3M
Total Liabilities $405.2M $521.9M
YoY Change -22.37% -5.51%
SHAREHOLDERS EQUITY
Retained Earnings -$934.8M -$881.8M
YoY Change 6.01%
Common Stock $1.712B $1.714B
YoY Change -0.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $777.3M $832.6M
YoY Change
Total Liabilities & Shareholders Equity $1.182B $1.355B
YoY Change -12.71% -13.41%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $32.04M -$18.20M
YoY Change -275.99% -47.2%
Depreciation, Depletion And Amortization $13.77M $15.93M
YoY Change -13.57% -12.81%
Cash From Operating Activities $49.05M -$5.000M
YoY Change -1081.04% -256.25%
INVESTING ACTIVITIES
Capital Expenditures -$23.84M -$6.700M
YoY Change 255.75% -33.66%
Acquisitions
YoY Change
Other Investing Activities $8.091M $500.0K
YoY Change 1518.2% 0.0%
Cash From Investing Activities -$15.84M -$6.200M
YoY Change 155.55% -35.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -36.09M 4.500M
YoY Change -901.91% -121.23%
NET CHANGE
Cash From Operating Activities 49.05M -5.000M
Cash From Investing Activities -15.84M -6.200M
Cash From Financing Activities -36.09M 4.500M
Net Change In Cash -2.878M -6.700M
YoY Change -57.04% -75.72%
FREE CASH FLOW
Cash From Operating Activities $49.05M -$5.000M
Capital Expenditures -$23.84M -$6.700M
Free Cash Flow $72.89M $1.700M
YoY Change 4187.47% -87.22%

Facts In Submission

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GENCO SHIPPING & TRADING LIMITED
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-23000
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2110000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
551000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
777272000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
978428000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-120350000
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.175
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
7363000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
481000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
851196000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-18204000
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.02
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
842000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
476000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
832626000
us-gaap Profit Loss
ProfitLoss
34022000
us-gaap Profit Loss
ProfitLoss
-138554000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27209000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
33504000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2235000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1909000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
690000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
676000
us-gaap Share Based Compensation
ShareBasedCompensation
1073000
us-gaap Share Based Compensation
ShareBasedCompensation
957000
gnk Vessel Asset Impairment Charges
VesselAssetImpairmentCharges
112814000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-735000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-486000
gnk Premium On Derivative Excluded And Recognized On Amortized Basis
PremiumOnDerivativeExcludedAndRecognizedOnAmortizedBasis
111000
gnk Interest Rate Cap Premium Payment
InterestRateCapPremiumPayment
240000
gnk Proceeds From Insurance Protection And Indemnity Claims
ProceedsFromInsuranceProtectionAndIndemnityClaims
101000
gnk Proceeds From Insurance Protection And Indemnity Claims
ProceedsFromInsuranceProtectionAndIndemnityClaims
278000
gnk Proceeds From Insurance For Loss Of Hire Claims
ProceedsFromInsuranceForLossOfHireClaims
78000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
921000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-331000
gnk Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
894000
gnk Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
-504000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4858000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4174000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5028000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-17454000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
954000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2259000
gnk Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-871000
gnk Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-828000
gnk Deferred Drydock Costs Incurred
DeferredDrydockCostsIncurred
1822000
gnk Deferred Drydock Costs Incurred
DeferredDrydockCostsIncurred
5593000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
62552000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8977000
gnk Payments To Acquire Vessels And Ballast Water Treatment Systems And Other Deposits
PaymentsToAcquireVesselsAndBallastWaterTreatmentSystemsAndOtherDeposits
24678000
gnk Payments To Acquire Vessels And Ballast Water Treatment Systems And Other Deposits
PaymentsToAcquireVesselsAndBallastWaterTreatmentSystemsAndOtherDeposits
2275000
gnk Payments To Acquire Scrubbers
PaymentsToAcquireScrubbers
126000
gnk Payments To Acquire Scrubbers
PaymentsToAcquireScrubbers
10839000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
431000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2716000
gnk Proceeds From Sale Of Vessel Assets Net
ProceedsFromSaleOfVesselAssetsNet
29096000
gnk Proceeds From Sale Of Vessel Assets Net
ProceedsFromSaleOfVesselAssetsNet
14726000
gnk Proceeds From Insurance For Hull And Machinery Claims
ProceedsFromInsuranceForHullAndMachineryClaims
295000
gnk Proceeds From Insurance For Hull And Machinery Claims
ProceedsFromInsuranceForHullAndMachineryClaims
484000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4156000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-620000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2983000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8126000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
283000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-85186000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9760000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18478000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-19357000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179679000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
162249000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161201000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
142892000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;padding-left:50.4pt;text-indent:-50.4pt;margin:0pt;"><span style="text-decoration:underline;text-decoration-color:#000000;">1 - GENERAL INFORMATION</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;padding-left:50.4pt;text-indent:-50.4pt;margin:0pt;"><span style="font-size:5pt;line-height:1.31;margin-bottom:6pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">The accompanying Condensed Consolidated Financial Statements include the accounts of Genco Shipping &amp; Trading Limited (“GS&amp;T”) and its direct and indirect wholly-owned subsidiaries (collectively, the “Company”). The Company is engaged in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels and operates in one business segment. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="line-height:1.31;margin-bottom:6pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">At June 30, 2021, the Company’s fleet consisted of 40 drybulk vessels, including 17 Capesize drybulk carriers, nine Ultramax drybulk carriers and 14 Supramax drybulk carriers, with an aggregate carrying capacity of approximately 4,368,800 dwt and an average age of approximately 10.5 years.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="line-height:1.31;margin-bottom:6pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="white-space:pre-wrap;">In March 2020, the World Health Organization declared the outbreak of a novel coronavirus strain, or COVID-19, to be a pandemic. The COVID-19 pandemic is having widespread, rapidly evolving, and unpredictable impacts on global society, economies, financial markets, and business practices. Over the course of the pandemic, governments have implemented measures in an effort to contain the virus, including social distancing, travel restrictions, border closures, limitations on public gatherings, working from home, supply chain logistical changes, and closure of non-essential businesses. This led to a significant slowdown in overall economic activity levels globally and a decline in demand for certain of the raw materials that our vessels transport. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;"><span style="font-size:9pt;line-height:1.31;margin-bottom:6pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">At present, it is not possible to ascertain any future impact of COVID-19 on the Company’s operational and financial performance, which may take some time to materialize and may not be fully reflected in the results for 2021.  However, an increase in the severity or duration or a resurgence of the COVID-19 pandemic, any potential variants and the timing of wide-scale vaccine distribution could have a material adverse effect on the Company’s business, results of operations, cash flows, financial condition, the carrying value of the Company’s assets, the fair values of the Company’s vessels, and the Company’s ability to pay dividends. </p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q2 gnk Net Gain Loss On Purchase And Sale Of Bunker Fuel And Lower Cost And Net Realizable Value Adjustments
NetGainLossOnPurchaseAndSaleOfBunkerFuelAndLowerCostAndNetRealizableValueAdjustments
-958000
gnk Net Gain Loss On Purchase And Sale Of Bunker Fuel And Lower Cost And Net Realizable Value Adjustments
NetGainLossOnPurchaseAndSaleOfBunkerFuelAndLowerCostAndNetRealizableValueAdjustments
937000
gnk Net Gain Loss On Purchase And Sale Of Bunker Fuel And Lower Cost And Net Realizable Value Adjustments
NetGainLossOnPurchaseAndSaleOfBunkerFuelAndLowerCostAndNetRealizableValueAdjustments
-1800000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
116280000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
143872000
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
44606000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
35492000
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
315000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
315000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
161201000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179679000
CY2020Q4 gnk Number Of Vessels Held For Exchange
NumberOfVesselsHeldForExchange
5
CY2020Q4 gnk Vessels Held For Exchange Non Current
VesselsHeldForExchangeNonCurrent
38214000
CY2021Q2 gnk Net Gain Loss On Purchase And Sale Of Bunker Fuel And Lower Cost And Net Realizable Value Adjustments
NetGainLossOnPurchaseAndSaleOfBunkerFuelAndLowerCostAndNetRealizableValueAdjustments
443000
CY2020Q2 gnk Net Gain Loss On Purchase And Sale Of Bunker Fuel And Lower Cost And Net Realizable Value Adjustments
NetGainLossOnPurchaseAndSaleOfBunkerFuelAndLowerCostAndNetRealizableValueAdjustments
-958000
gnk Vessel Asset Impairment Charges
VesselAssetImpairmentCharges
0
gnk Vessel Asset Impairment Charges
VesselAssetImpairmentCharges
112814000
CY2021Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-15000
CY2020Q2 gnk Number Of Vessels Sold
NumberOfVesselsSold
0
us-gaap Interest Paid Net
InterestPaidNet
6764000
us-gaap Interest Paid Net
InterestPaidNet
10457000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42022669
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
us-gaap Income Taxes Paid
IncomeTaxesPaid
0
gnk Noncash Or Part Noncash Reclassification From Deposits On Vessels To Vessels
NoncashOrPartNoncashReclassificationFromDepositsOnVesselsToVessels
7798000
gnk Noncash Or Part Noncash Reclassification From Vessels To Vessels Held For Sale
NoncashOrPartNoncashReclassificationFromVesselsToVesselsHeldForSale
23252000
us-gaap Operating Lease Payments
OperatingLeasePayments
1115000
us-gaap Operating Lease Payments
OperatingLeasePayments
1115000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42071019
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41900901
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41883629
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42071019
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41900901
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42022669
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41883629
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42612132
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41900901
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42445184
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41883629
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
367025000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
449228000
CY2021Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7418000
CY2020Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
9653000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
55920000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
80642000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
303687000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
358933000
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
367025000
CY2021Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7418000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
449228000
CY2020Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
9653000
CY2021Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7418000
CY2020Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
9653000
CY2020Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0362
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0320
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0422
CY2021Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0322
CY2021Q2 us-gaap Interest Expense
InterestExpense
4470000
CY2020Q2 us-gaap Interest Expense
InterestExpense
5473000
us-gaap Interest Expense
InterestExpense
9012000
us-gaap Interest Expense
InterestExpense
12418000
CY2021Q2 gnk Premium On Derivative Excluded And Recognized On Amortized Basis
PremiumOnDerivativeExcludedAndRecognizedOnAmortizedBasis
42000
gnk Premium On Derivative Excluded And Recognized On Amortized Basis
PremiumOnDerivativeExcludedAndRecognizedOnAmortizedBasis
111000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-60000
us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments And Tax Parent
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTaxParent
198000
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
138000
CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
15824000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
11864000
CY2021Q2 gnk Accrued General And Administrative Expenses Current
AccruedGeneralAndAdministrativeExpensesCurrent
2341000
CY2020Q4 gnk Accrued General And Administrative Expenses Current
AccruedGeneralAndAdministrativeExpensesCurrent
3258000
CY2021Q2 gnk Accrued Vessel Operating Expenses Current
AccruedVesselOperatingExpensesCurrent
9091000
CY2020Q4 gnk Accrued Vessel Operating Expenses Current
AccruedVesselOperatingExpensesCurrent
7671000
CY2021Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
27256000
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
22793000
us-gaap Revenues
Revenues
208599000
us-gaap Revenues
Revenues
172542000
CY2021Q2 us-gaap Lease Practical Expedient Lessor Single Lease Component
LeasePracticalExpedientLessorSingleLeaseComponent
true
CY2021Q2 us-gaap Lease Income
LeaseIncome
31557000
CY2020Q2 us-gaap Lease Income
LeaseIncome
11983000
us-gaap Lease Income
LeaseIncome
50457000
us-gaap Lease Income
LeaseIncome
31134000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
89451000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
62223000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
158142000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
141408000
CY2021Q2 us-gaap Revenues
Revenues
121008000
CY2020Q2 us-gaap Revenues
Revenues
74206000
us-gaap Revenues
Revenues
208599000
us-gaap Revenues
Revenues
172542000
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
306000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
306000
us-gaap Sublease Income
SubleaseIncome
612000
us-gaap Sublease Income
SubleaseIncome
612000

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