$GNK
GENCO SHIPPING & TRADING LTD

2022 Q1 Form 10-Q Financial Statement

#000155837022007103 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $136.2M $87.59M
YoY Change 55.53% -10.93%
Cost Of Revenue $73.12M $59.60M
YoY Change 22.68% -18.69%
Gross Profit $63.11M $28.00M
YoY Change 125.4% 11.55%
Gross Profit Margin 46.33% 31.97%
Selling, General & Admin $6.960M $7.600M
YoY Change -8.42% 0.0%
% of Gross Profit 11.03% 27.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.06M $13.44M
YoY Change 4.6% -23.52%
% of Gross Profit 22.28% 48.0%
Operating Expenses $21.02M $21.00M
YoY Change 0.09% -16.67%
Operating Profit $42.09M $6.309M
YoY Change 567.19% -105.56%
Interest Expense $2.242M $4.541M
YoY Change -50.63% -34.61%
% of Operating Profit 5.33% 71.98%
Other Income/Expense, Net -$228.0K -$4.324M
YoY Change -94.73% -37.65%
Pretax Income $41.87M $2.000M
YoY Change 1993.25% -101.66%
Income Tax
% Of Pretax Income
Net Earnings $41.69M $1.985M
YoY Change 2000.2% -101.65%
Net Earnings / Revenue 30.6% 2.27%
Basic Earnings Per Share $0.99 $0.05
Diluted Earnings Per Share $0.97 $0.05
COMMON SHARES
Basic Shares Outstanding 42.17M 41.97M
Diluted Shares Outstanding 42.87M 42.28M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.11M $123.2M
YoY Change -65.01% -8.27%
Cash & Equivalents $43.11M $123.2M
Short-Term Investments
Other Short-Term Assets $18.65M $69.20M
YoY Change -73.05% 50.11%
Inventory $23.34M $24.15M
Prepaid Expenses
Receivables $20.04M $11.24M
Other Receivables $0.00 $0.00
Total Short-Term Assets $105.1M $227.9M
YoY Change -53.86% 0.17%
LONG-TERM ASSETS
Property, Plant & Equipment $7.784M $6.139M
YoY Change 26.8% -99.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.49M $15.30M
YoY Change 14.29% -15.0%
Total Long-Term Assets $1.062B $952.5M
YoY Change 11.54% -17.43%
TOTAL ASSETS
Total Short-Term Assets $105.1M $227.9M
Total Long-Term Assets $1.062B $952.5M
Total Assets $1.168B $1.180B
YoY Change -1.09% -14.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.84M $14.89M
YoY Change -13.79% -32.02%
Accrued Expenses $14.85M $11.30M
YoY Change 31.39% -19.29%
Deferred Revenue $10.13M $7.389M
YoY Change 37.14%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $65.28M
YoY Change -10.58%
Total Short-Term Liabilities $37.82M $98.86M
YoY Change -61.75% -15.22%
LONG-TERM LIABILITIES
Long-Term Debt $189.9M $327.1M
YoY Change -41.94% -18.98%
Other Long-Term Liabilities $5.723M $7.600M
YoY Change -24.7% -19.15%
Total Long-Term Liabilities $195.6M $334.7M
YoY Change -41.55% -18.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.82M $98.86M
Total Long-Term Liabilities $195.6M $334.7M
Total Liabilities $233.4M $433.5M
YoY Change -46.15% -18.17%
SHAREHOLDERS EQUITY
Retained Earnings -$745.1M -$966.8M
YoY Change -22.93%
Common Stock $1.675B $1.714B
YoY Change -2.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $933.8M $746.8M
YoY Change
Total Liabilities & Shareholders Equity $1.168B $1.180B
YoY Change -1.09% -14.53%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $41.69M $1.985M
YoY Change 2000.2% -101.65%
Depreciation, Depletion And Amortization $14.06M $13.44M
YoY Change 4.6% -23.52%
Cash From Operating Activities $52.56M $13.49M
YoY Change 289.47% -434.18%
INVESTING ACTIVITIES
Capital Expenditures $1.483M $152.0K
YoY Change 875.66% -85.37%
Acquisitions
YoY Change
Other Investing Activities $0.00 $21.30M
YoY Change -100.0% 44.9%
Cash From Investing Activities -$46.97M $19.95M
YoY Change -335.41% 257.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -77.05M -49.10M
YoY Change 56.93% 243.82%
NET CHANGE
Cash From Operating Activities 52.56M 13.49M
Cash From Investing Activities -46.97M 19.95M
Cash From Financing Activities -77.05M -49.10M
Net Change In Cash -71.46M -15.65M
YoY Change 356.5% 22.86%
FREE CASH FLOW
Cash From Operating Activities $52.56M $13.49M
Capital Expenditures $1.483M $152.0K
Free Cash Flow $51.07M $13.34M
YoY Change 282.79% -362.79%

Facts In Submission

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1350000
CY2021Q1 gnk Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
2692000
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1226000
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2565000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2834000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1548000
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
52000
CY2021Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1032000
CY2022Q1 gnk Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-456000
CY2021Q1 gnk Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-432000
CY2022Q1 gnk Deferred Drydock Costs Incurred
DeferredDrydockCostsIncurred
1685000
CY2021Q1 gnk Deferred Drydock Costs Incurred
DeferredDrydockCostsIncurred
939000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
52555000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13494000
CY2022Q1 gnk Payments To Acquire Vessels And Ballast Water Treatment Systems And Other Deposits
PaymentsToAcquireVesselsAndBallastWaterTreatmentSystemsAndOtherDeposits
45482000
CY2021Q1 gnk Payments To Acquire Vessels And Ballast Water Treatment Systems And Other Deposits
PaymentsToAcquireVesselsAndBallastWaterTreatmentSystemsAndOtherDeposits
1190000
CY2021Q1 gnk Payments To Acquire Scrubbers
PaymentsToAcquireScrubbers
41000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1483000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
152000
CY2021Q1 gnk Proceeds From Sale Of Vessel Assets Net
ProceedsFromSaleOfVesselAssetsNet
21272000
CY2021Q1 gnk Proceeds From Insurance For Hull And Machinery Claims
ProceedsFromInsuranceForHullAndMachineryClaims
61000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46965000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
19950000
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
28289000
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
888000
CY2022Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
11000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-77050000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-49098000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-71460000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-15654000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120531000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179679000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49071000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164025000
CY2022Q1 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-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">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 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 March 31, 2022, the Company’s fleet consisted of 44 drybulk vessels, including 17 Capesize drybulk carriers, 15 Ultramax drybulk carriers and twelve Supramax drybulk carriers, with an aggregate carrying capacity of approximately 4,636,000 dwt and an average age of approximately 10.1 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;">During September 2021, the Company and Synergy Marine Pte. Ltd. (“Synergy”), a third party, formed a joint venture, GS Shipmanagement Pte. Ltd. (“GSSM”). GSSM is owned </span>50% by the Company and 50%<span style="white-space:pre-wrap;"> by Synergy as of March 31, 2022 and December 31, 2021, and was formed to provide ship management services to the Company’s vessels. As of March 31, 2022 and December 31, 2021, the investments GSSM received from the Company and Synergy totaled </span>$50 and $50, respectively, which were used for expenditures directly related to the operations of GSSM.</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;">Management has determined that GSSM qualifies as a variable interest entity, and, when aggregating the variable interest held by the Company and Synergy, the Company is the primary beneficiary as the Company has the ability to direct the activities that most significantly impact GSSM’s economic performance. Accordingly, the Company consolidates GSSM. </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="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 2022.  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>
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43113000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
114573000
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
5643000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
5643000
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
315000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
315000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49071000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120531000
CY2022Q1 gnk Vessels Estimated Useful Life
VesselsEstimatedUsefulLife
P25Y
CY2021 gnk Vessels Estimated Scrap Value
VesselsEstimatedScrapValue
310
CY2022Q1 gnk Vessels Estimated Scrap Value
VesselsEstimatedScrapValue
400
CY2022Q1 gnk Useful Life Of Average Scrap Value Of Steel
UsefulLifeOfAverageScrapValueOfSteel
P15Y
CY2022Q1 gnk Decrease In Depreciation Expense As Result Of Increase In Estimated Scrap Value
DecreaseInDepreciationExpenseAsResultOfIncreaseInEstimatedScrapValue
1146000
CY2022Q1 gnk Increase Decrease In Basic Net Income Loss Per Share
IncreaseDecreaseInBasicNetIncomeLossPerShare
0.03
CY2022Q1 gnk Increase Decrease In Diluted Net Income Loss Per Share
IncreaseDecreaseInDilutedNetIncomeLossPerShare
0.02
CY2022Q1 gnk Earnings Per Share Basic If No Change In Estimated Scrap Value
EarningsPerShareBasicIfNoChangeInEstimatedScrapValue
0.96
CY2022Q1 gnk Earnings Per Share Diluted If No Change In Estimated Scrap Value
EarningsPerShareDilutedIfNoChangeInEstimatedScrapValue
0.95
CY2022Q1 gnk Net Gain Loss On Purchase And Sale Of Bunker Fuel And Lower Cost And Net Realizable Value Adjustments
NetGainLossOnPurchaseAndSaleOfBunkerFuelAndLowerCostAndNetRealizableValueAdjustments
2004000
CY2021Q1 gnk Net Gain Loss On Purchase And Sale Of Bunker Fuel And Lower Cost And Net Realizable Value Adjustments
NetGainLossOnPurchaseAndSaleOfBunkerFuelAndLowerCostAndNetRealizableValueAdjustments
493000
CY2022Q1 gnk Number Of Vessels Sold
NumberOfVesselsSold
0
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1793000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
3583000
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0
CY2022Q1 gnk Noncash Or Part Noncash Reclassification From Deposits On Vessels To Vessels
NoncashOrPartNoncashReclassificationFromDepositsOnVesselsToVessels
18543000
CY2021Q1 gnk Noncash Or Part Noncash Reclassification From Vessels To Vessels Held For Sale
NoncashOrPartNoncashReclassificationFromVesselsToVesselsHeldForSale
15630000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
557000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
557000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42166106
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41973782
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42166106
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41973782
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42867349
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42276380
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
197250000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
246000000
CY2022Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7355000
CY2021Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7771000
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
189895000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
238229000
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
197250000
CY2022Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7355000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
246000000
CY2021Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7771000
CY2022Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7355000
CY2021Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7771000
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
3675000
CY2022Q1 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments And Tax Parent
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsAndTaxParent
-382000
CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
4118000
CY2022Q1 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0299
CY2021Q1 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0318
CY2022Q1 us-gaap Interest Expense
InterestExpense
2242000
CY2021Q1 us-gaap Interest Expense
InterestExpense
4541000
CY2022Q1 gnk Premium On Derivative Excluded And Recognized On Amortized Basis
PremiumOnDerivativeExcludedAndRecognizedOnAmortizedBasis
43000
CY2021Q1 gnk Premium On Derivative Excluded And Recognized On Amortized Basis
PremiumOnDerivativeExcludedAndRecognizedOnAmortizedBasis
69000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
825000
CY2022Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
12835000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
9399000
CY2022Q1 gnk Accrued General And Administrative Expenses Current
AccruedGeneralAndAdministrativeExpensesCurrent
1608000
CY2021Q4 gnk Accrued General And Administrative Expenses Current
AccruedGeneralAndAdministrativeExpensesCurrent
4719000
CY2022Q1 gnk Accrued Vessel Operating Expenses Current
AccruedVesselOperatingExpensesCurrent
11357000
CY2021Q4 gnk Accrued Vessel Operating Expenses Current
AccruedVesselOperatingExpensesCurrent
15838000
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
25800000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
29956000
CY2022Q1 us-gaap Lease Practical Expedient Lessor Single Lease Component
LeasePracticalExpedientLessorSingleLeaseComponent
true
CY2022Q1 us-gaap Lease Income
LeaseIncome
55804000
CY2021Q1 us-gaap Lease Income
LeaseIncome
18900000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
80423000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68691000
CY2022Q1 us-gaap Revenues
Revenues
136227000
CY2021Q1 us-gaap Revenues
Revenues
87591000
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
306000
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
306000

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