Genco Shipping & Trading Limited (GNK) 10-Q19 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	19-May-14
Document and Entity Information	'	'
Entity Registrant Name	'GENCO SHIPPING & TRADING LTD	'
Entity Central Index Key	'0001326200	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	44,449,407
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$92,408	$122,722
Restricted cash	9,975	9,850
Due from charterers, net of a reserve of $686 and $632, respectively	11,438	14,241
Prepaid expenses and other current assets	26,275	19,065
Total current assets	140,096	165,878
Noncurrent assets:	'	'
Vessels, net of accumulated depreciation of $764,491 and $730,662, respectively	2,641,592	2,673,795
Deposits on vessels	17,175	1,013
Deferred drydock, net of accumulated amortization of $9,512 and $11,107, respectively	14,916	11,069
Deferred financing costs, net of accumulated amortization of $24,498 and $22,279, respectively	20,054	22,011
Fixed assets, net of accumulated depreciation and amortization of $3,653 and $3,438, respectively	4,182	5,104
Other noncurrent assets	514	514
Restricted cash	300	300
Investments	63,355	77,570
Total noncurrent assets	2,762,088	2,791,376
Total assets	2,902,184	2,957,254
Current liabilities:	'	'
Accounts payable and accrued expenses	35,605	27,359
Current portion of long-term debt	1,309,441	1,316,439
Current interest payable	13,199	13,199
Convertible senior note payable	117,180	115,881
Deferred revenue	1,588	1,597
Current portion of lease obligations	168	176
Fair value of derivative instruments	5,747	6,975
Total current liabilities	1,482,928	1,481,626
Noncurrent liabilities:	'	'
Long-term lease obligations	3,222	3,114
Time charters acquired	35	84
Long-term debt	162,563	163,625
Total noncurrent liabilities	165,820	166,823
Total liabilities	1,648,748	1,648,449
Commitments and contingencies	'	'
Genco Shipping & Trading Limited shareholders' equity:	'	'
Common stock, par value $0.01; 100,000,000 shares authorized; issued and outstanding 44,449,407 shares at March 31, 2014 and December 31, 2013	445	445
Additional paid-in capital	847,181	846,658
Accumulated other comprehensive income	40,735	53,722
Retained earnings	27,535	66,644
Total Genco Shipping & Trading Limited shareholders' equity	915,896	967,469
Noncontrolling interest	337,540	341,336
Total equity	1,253,436	1,308,805
Total liabilities and equity	$2,902,184	$2,957,254

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Noncurrent assets:	'	'
Due from charterers, reserve	$686	$632
Vessels, accumulated depreciation	764,491	730,662
Deferred drydock, accumulated amortization	9,512	11,107
Deferred financing costs, accumulated amortization	24,498	22,279
Fixed assets, accumulated depreciation and amortization	$3,653	$3,438
Genco Shipping & Trading Limited shareholders' equity:	'	'
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	44,449,407	44,449,407
Common stock, shares outstanding (in shares)	44,449,407	44,449,407

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenues:	'	'
Voyage revenues	$63,180	$39,676
Service revenues	810	810
Total revenues	63,990	40,486
Operating expenses:	'	'
Voyage expenses	1,956	1,272
Vessel operating expenses	31,223	27,119
General, administrative, and management fees	15,376	8,191
Depreciation and amortization	36,201	34,378
Total operating expenses	84,756	70,960
Operating loss	-20,766	-30,474
Other (expense) income:	'	'
Other (expense) income	-57	19
Interest income	20	18
Interest expense	-21,023	-21,289
Other expense	-21,060	-21,252
Loss before income taxes	-41,826	-51,726
Income tax expense	-412	-224
Net loss	-42,238	-51,950
Less: Net loss attributable to noncontrolling interest	-3,133	-3,787
Net loss attributable to Genco Shipping & Trading Limited	($39,105)	($48,163)
Net loss per share-basic (in dollars per share)	($0.90)	($1.12)
Net loss per share-diluted (in dollars per share)	($0.90)	($1.12)
Weighted average common shares outstanding-basic (in shares)	43,568,942	43,161,510
Weighted average common shares outstanding-diluted (in shares)	43,568,942	43,161,510

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Condensed Consolidated Statements of Comprehensive Loss	'	'
Net loss	($42,238)	($51,950)
Change in unrealized gain on investments	-14,215	9,603
Unrealized gain on cash flow hedges, net	1,228	2,301
Other comprehensive (loss) income	-12,987	11,904
Comprehensive loss	-55,225	-40,046
Less: Comprehensive loss attributable to noncontrolling interest	-3,133	-3,787
Comprehensive loss attributable to Genco Shipping & Trading Limited	($52,092)	($36,259)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Equity (USD $)	Total	Genco Shipping & Trading Limited Shareholders' Equity	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings	Noncontrolling Interest
In Thousands, unless otherwise specified	Total	Genco Shipping & Trading Limited Shareholders' Equity	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings	Noncontrolling Interest
Balance at Dec. 31, 2012	$1,261,207	$1,066,296	$443	$863,303	($11,841)	$214,391	$194,911
Increase (Decrease) in Shareholders' Equity	'	'	'	'	'	'	'
Net loss	-51,950	-48,163	'	'	'	-48,163	-3,787
Change in unrealized gain on investments	9,603	9,603	'	'	9,603	'	'
Unrealized gain on cash flow hedges, net	2,301	2,301	'	'	2,301	'	'
Nonvested stock amortization	1,233	769	'	769	'	'	464
Cash dividends paid by Baltic Trading Limited	-172	-2	'	'	'	-2	-170
Vesting of restricted shares issued by Baltic Trading Limited	'	48	'	48	'	'	-48
Balance at Mar. 31, 2013	1,222,222	1,030,852	443	864,120	63	166,226	191,370
Balance at Dec. 31, 2013	1,308,805	967,469	445	846,658	53,722	66,644	341,336
Increase (Decrease) in Shareholders' Equity	'	'	'	'	'	'	'
Net loss	-42,238	-39,105	'	'	'	-39,105	-3,133
Change in unrealized gain on investments	-14,215	-14,215	'	'	-14,215	'	'
Unrealized gain on cash flow hedges, net	1,228	1,228	'	'	1,228	'	'
Nonvested stock amortization	1,390	427	'	427	'	'	963
Cash dividends paid by Baltic Trading Limited	-1,534	-4	'	'	'	-4	-1,530
Vesting of restricted shares issued by Baltic Trading Limited	'	96	'	96	'	'	-96
Balance at Mar. 31, 2014	$1,253,436	$915,896	$445	$847,181	$40,735	$27,535	$337,540

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Equity (Parenthetical)	3 Months Ended
Condensed Consolidated Statements of Equity (Parenthetical)	Mar. 31, 2013
Condensed Consolidated Statements of Equity	'
Forfeiture of shares of nonvested stock	6,750

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:	'	'
Net loss	($42,238)	($51,950)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	36,201	34,378
Amortization of deferred financing costs	2,220	1,835
Amortization of time charters acquired	-49	-132
Amortization of discount on Convertible Senior Notes	1,299	1,179
Unrealized loss on derivative instruments	'	4
Amortization of nonvested stock compensation expense	1,390	1,233
Change in assets and liabilities:	'	'
Decrease (increase) in due from charterers	2,803	-427
Increase in prepaid expenses and other current assets	-7,210	-2,181
Increase in accounts payable and accrued expenses	8,558	89
Decrease in deferred revenue	-9	-236
Increase in lease obligations	100	125
Deferred drydock costs incurred	-5,669	-1,283
Net cash used in operating activities	-2,604	-17,366
Cash flows from investing activities:	'	'
Purchase of vessels, including deposits	-17,618	'
Purchase of other fixed assets	-179	-13
Changes in deposits of restricted cash	-125	'
Net cash used in investing activities	-17,922	-13
Cash flows from financing activities:	'	'
Payment of dividend by subsidiary	-1,534	-172
Payment of common stock issuance costs by subsidiary	-106	'
Payment of deferred financing costs	-88	'
Net cash used in financing activities	-9,788	-172
Net decrease in cash and cash equivalents	-30,314	-17,551
Cash and cash equivalents at beginning of period	122,722	72,600
Cash and cash equivalents at end of period	92,408	55,049
$100 Million Term Loan Facility	'	'
Cash flows from financing activities:	'	'
Repayments on Term Loan Facility	-1,923	'
$253 Million Term Loan Facility	'	'
Cash flows from financing activities:	'	'
Repayments on Term Loan Facility	-5,075	'
Baltic Trading $22 Million Term Loan Facility	'	'
Cash flows from financing activities:	'	'
Repayments on Term Loan Facility	-375	'
Baltic Trading $44 Million Term Loan Facility	'	'
Cash flows from financing activities:	'	'
Repayments on Term Loan Facility	($687)	'

Condensed_Consolidated_Stateme5

Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $)	Mar. 31, 2014	Mar. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
$100 Million Term Loan Facility	'	'
Maximum borrowing capacity	$100,000	$100,000
$253 Million Term Loan Facility	'	'
Maximum borrowing capacity	253,000	253,000
Baltic Trading $22 Million Term Loan Facility	'	'
Maximum borrowing capacity	22,000	22,000
Baltic Trading $44 Million Term Loan Facility	'	'
Maximum borrowing capacity	$44,000	$44,000

GENERAL_INFORMATION

GENERAL INFORMATION	3 Months Ended
GENERAL INFORMATION	Mar. 31, 2014
GENERAL INFORMATION	'
GENERAL INFORMATION	'
	1 - GENERAL INFORMATION

	The accompanying condensed consolidated financial statements include the accounts of Genco Shipping & Trading Limited (“GS&T”), its wholly-owned subsidiaries, and its subsidiary, Baltic Trading Limited (collectively, the “Company”). The Company is engaged in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels. GS&T is incorporated under the laws of the Marshall Islands and as of March 31, 2014, is the sole owner of all of the outstanding shares of the following subsidiaries: Genco Ship Management LLC; Genco Investments LLC; Genco RE Investments LLC; and the ship-owning subsidiaries as set forth below. As of March 31, 2014, Genco Ship Management LLC is the sole owner of all of the outstanding shares of Genco Management (USA) Limited.

	On April 21, 2014, GS&T and its subsidiaries other than Baltic Trading Limited and its subsidiaries (collectively, the “Debtors”) filed voluntary petitions for relief (the “Chapter 11 Cases”) under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). The Debtors plan to continue to operate their businesses in the ordinary course as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. Through the Chapter 11 Cases, the Debtors seek to implement a Prepackaged Plan of Reorganization of the Debtors Pursuant to Chapter 11 of the Bankruptcy Code (the “Prepack Plan”) for which the Company solicited votes from certain classes of its creditors prior to commencement of the Chapter 11 Cases in accordance with the Restructuring Support Agreement that the Debtors entered into with certain of its creditors on April 3, 2014 (the “Support Agreement”).

	The filing of the Chapter 11 Cases constituted an event of default with respect to each of the following agreements or instruments:

	· the Credit Agreement, dated as of July 20, 2007 (as amended to date), by and among the Company as borrower, the banks and other financial institutions named therein as lenders, Wilmington Trust, N.A., as successor administrative and collateral agent, and the other parties thereto, relating to approximately $1,055,912 of principal plus accrued and unpaid interest, fees, costs, and other expenses (the “2007 Credit Facility”);

	· the Loan Agreement, dated as of August 20, 2010 (as amended to date), by and among the Company as borrower, Genco Aquitane Limited and the other subsidiaries of the Company named therein as guarantors, the banks and financial institutions named therein as lenders, BNP Paribas, Credit Agricole Corporate and Investment Bank, DVB Bank SE, Deutsche Bank AG Filiale Deutschlandgeschaft, Skandinaviska Enskilda Banken AB (publ) as mandated lead arrangers, BNP Paribas, Credit Agricole Corporate and Investment Bank, DVB Bank SE, Deutsche Bank AG, Skandinaviska Enskilda Banken AB (publ) as swap providers, and Deutsche Bank Luxembourg S.A. as agent for the lenders and the assignee, relating to approximately $175,718 of principal and accrued and unpaid interest, fees, costs, and other expenses (the “$253 Million Term Loan Facility”);

	· the Loan Agreement, dated as of August 12, 2010 (as amended to date), by and among the Company as borrower, Genco Ocean Limited and the other subsidiaries of the Company named therein as guarantors, the banks and financial institutions named therein as lenders, and Credit Agricole Corporate and Investment Bank as agent and security trustee, relating to approximately $73,561 of principal plus accrued and unpaid interest, fees, costs, and other expenses (the “$100 Million Term Loan Facility”);

	· the Indenture and First Supplemental Indenture relating to $125,000 of principal plus accrued and unpaid interest outstanding of the Company’s 5.00% Convertible Senior Notes due August 15, 2015 (the “Indenture”);

	· the outstanding interest rate swap with DnB NOR Bank, relating to a liability position of $5,747 as of March 31, 2014.

	As a result of the filing of the Chapter 11 Cases, all indebtedness outstanding under the 2007 Credit Facility and the Indenture was accelerated and became due and payable, and indebtedness under the other agreements and instruments described above can be accelerated and become due and payable upon notice to the Company, subject to an automatic stay of any action to collect, assert, or recover a claim against the Company or the other Debtors and the application of the applicable provisions of the Bankruptcy Code.

	The Company is required to apply Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 852, Reorganizations, effective on April 21, 2014, which is applicable to companies in Chapter 11, which generally does not change the manner in which financial statements are prepared. However, it does require that the financial statements for periods subsequent to the filing of the Chapter 11 Cases distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Revenues, expenses, realized gains and losses, and provisions for losses that can be directly associated with the reorganization and restructuring of the business must be reported separately as Reorganization items in the consolidated statements of operations beginning in the quarter ending June 30, 2014. The balance sheet must distinguish pre-petition liabilities subject to compromise from both those pre-petition liabilities that are not subject to compromise and from post-petition liabilities. The Company will evaluate creditors’ claims for other claims that may also have priority over unsecured creditors. Liabilities that may be affected by a plan of reorganization must be reported at the amounts expected to be approved by the Bankruptcy Court, even if they may be settled for lesser amounts as a result of the plan or reorganization.

	Below is the list of GS&T’s wholly owned ship-owning subsidiaries as of March 31, 2014:

	Wholly Owned Subsidiaries		Vessel Acquired		Dwt		Delivery Date		Year Built

	Genco Reliance Limited		Genco Reliance		29,952		12/6/04		1999
	Genco Vigour Limited		Genco Vigour		73,941		12/15/04		1999
	Genco Explorer Limited		Genco Explorer		29,952		12/17/04		1999
	Genco Carrier Limited		Genco Carrier		47,180		12/28/04		1998
	Genco Sugar Limited		Genco Sugar		29,952		12/30/04		1998
	Genco Pioneer Limited		Genco Pioneer		29,952		1/4/05		1999
	Genco Progress Limited		Genco Progress		29,952		1/12/05		1999
	Genco Wisdom Limited		Genco Wisdom		47,180		1/13/05		1997
	Genco Success Limited		Genco Success		47,186		1/31/05		1997
	Genco Beauty Limited		Genco Beauty		73,941		2/7/05		1999
	Genco Knight Limited		Genco Knight		73,941		2/16/05		1999
	Genco Leader Limited		Genco Leader		73,941		2/16/05		1999
	Genco Marine Limited		Genco Marine		45,222		3/29/05		1996
	Genco Prosperity Limited		Genco Prosperity		47,180		4/4/05		1997
	Genco Muse Limited		Genco Muse		48,913		10/14/05		2001
	Genco Acheron Limited		Genco Acheron		72,495		11/7/06		1999
	Genco Surprise Limited		Genco Surprise		72,495		11/17/06		1998
	Genco Augustus Limited		Genco Augustus		180,151		8/17/07		2007
	Genco Tiberius Limited		Genco Tiberius		175,874		8/28/07		2007
	Genco London Limited		Genco London		177,833		9/28/07		2007
	Genco Titus Limited		Genco Titus		177,729		11/15/07		2007
	Genco Challenger Limited		Genco Challenger		28,428		12/14/07		2003
	Genco Charger Limited		Genco Charger		28,398		12/14/07		2005
	Genco Warrior Limited		Genco Warrior		55,435		12/17/07		2005
	Genco Predator Limited		Genco Predator		55,407		12/20/07		2005
	Genco Hunter Limited		Genco Hunter		58,729		12/20/07		2007
	Genco Champion Limited		Genco Champion		28,445		1/2/08		2006
	Genco Constantine Limited		Genco Constantine		180,183		2/21/08		2008
	Genco Raptor LLC		Genco Raptor		76,499		6/23/08		2007
	Genco Cavalier LLC		Genco Cavalier		53,617		7/17/08		2007
	Genco Thunder LLC		Genco Thunder		76,588		9/25/08		2007
	Genco Hadrian Limited		Genco Hadrian		169,694		12/29/08		2008
	Genco Commodus Limited		Genco Commodus		169,025		7/22/09		2009
	Genco Maximus Limited		Genco Maximus		169,025		9/18/09		2009
	Genco Claudius Limited		Genco Claudius		169,025		12/30/09		2010
	Genco Bay Limited		Genco Bay		34,296		8/24/10		2010
	Genco Ocean Limited		Genco Ocean		34,409		7/26/10		2010
Genco Avra Limited		Genco Avra		34,391		5/12/11		2011
Genco Mare Limited		Genco Mare		34,428		7/20/11		2011
Genco Spirit Limited		Genco Spirit		34,432		11/10/11		2011
Genco Aquitaine Limited		Genco Aquitaine		57,981		8/18/10		2009
Genco Ardennes Limited		Genco Ardennes		57,981		8/31/10		2009
Genco Auvergne Limited		Genco Auvergne		57,981		8/16/10		2009

Genco Bourgogne Limited		Genco Bourgogne		57,981		8/24/10		2010
Genco Brittany Limited		Genco Brittany		57,981		9/23/10		2010
Genco Languedoc Limited		Genco Languedoc		57,981		9/29/10		2010
Genco Loire Limited		Genco Loire		53,416		8/4/10		2009
Genco Lorraine Limited		Genco Lorraine		53,416		7/29/10		2009
Genco Normandy Limited		Genco Normandy		53,596		8/10/10		2007
Genco Picardy Limited		Genco Picardy		55,257		8/16/10		2005
Genco Provence Limited		Genco Provence		55,317		8/23/10		2004
Genco Pyrenees Limited		Genco Pyrenees		57,981		8/10/10		2010
Genco Rhone Limited		Genco Rhone		58,018		3/29/11		2011

Baltic Trading Limited (“Baltic Trading”) was a wholly-owned indirect subsidiary of GS&T until Baltic Trading completed its initial public offering, or IPO, on March 15, 2010. As of March 31, 2014 and December 31, 2013, Genco Investments LLC owned 6,356,471 shares of Baltic Trading’s Class B Stock, which represented a 11.05% ownership interest in Baltic Trading and 65.08% of the aggregate voting power of Baltic Trading’s outstanding shares of voting stock. Additionally, pursuant to the subscription agreement between Genco Investments LLC and Baltic Trading, for so long as GS&T directly or indirectly holds at least 10% of the aggregate number of outstanding shares of Baltic Trading’s common stock and Class B stock, Genco Investments LLC will be entitled to receive an additional number of shares of Baltic Trading’s Class B stock equal to 2% of the number of common shares issued in the future, other than shares issued under Baltic Trading’s 2010 Equity Incentive Plan.

Below is the list of Baltic Trading’s wholly owned ship-owning subsidiaries as of March 31, 2014:

Baltic Trading’s Wholly Owned		Vessel Acquired		Dwt		Delivery Date		Year
Subsidiaries		Vessel Acquired		Dwt		Delivery Date		Built

Baltic Leopard Limited		Baltic Leopard		53,447		4/8/10		2009
Baltic Panther Limited		Baltic Panther		53,351		4/29/10		2009
Baltic Cougar Limited		Baltic Cougar		53,432		5/28/10		2009
Baltic Jaguar Limited		Baltic Jaguar		53,474		5/14/10		2009
Baltic Bear Limited		Baltic Bear		177,717		5/14/10		2010
Baltic Wolf Limited		Baltic Wolf		177,752		10/14/10		2010
Baltic Wind Limited		Baltic Wind		34,409		8/4/10		2009
Baltic Cove Limited		Baltic Cove		34,403		8/23/10		2010
Baltic Breeze Limited		Baltic Breeze		34,386		10/12/10		2010
Baltic Fox Limited		Baltic Fox		31,883		9/6/13		2010
Baltic Hare Limited		Baltic Hare		31,887		9/5/13		2009
Baltic Lion Limited		Baltic Lion		179,185		12/27/13		2012
Baltic Tiger Limited		Baltic Tiger		179,185		11/26/13		2011
Baltic Hornet Limited		Baltic Hornet		64,000		Q3 2014 (1)		2014 (1)
Baltic Wasp Limited		Baltic Wasp		64,000		Q4 2014 (1)		2014 (1)
Baltic Scorpion Limited		Baltic Scorpion		64,000		Q2 2015 (1)		2015 (1)
Baltic Mantis Limited		Baltic Mantis		64,000		Q3 2015 (1)		2015 (1)


(1) Built dates and dates for vessels being delivered in the future are estimates based on the guidance received from the sellers and the respective shipyards.

The Company provides technical services for drybulk vessels purchased by Maritime Equity Partners LLC (“MEP”). Peter C. Georgiopoulos, Chairman of the Board of Directors of GS&T, controls and has a minority interest in MEP. These services include oversight of crew management, insurance, drydocking, ship operations and financial statement preparation, but do not include chartering services. The services are provided for a fee of $750 per ship per day plus reimbursement of out-of-pocket costs and will be provided for an initial term of one year. MEP has the right to cancel provision of services on 60 days’ notice with payment of a one-year termination fee upon a change in control of the Company. The Company may terminate provision of the services at any time on 60 days’ notice.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Principles of consolidation

	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which include the accounts of GS&T, its wholly-owned subsidiaries and Baltic Trading, a subsidiary in which the Company owns a majority of the voting interests and exercises control. All intercompany accounts and transactions have been eliminated in consolidation.

	Basis of presentation

	The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management of the Company, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and operating results have been included in the statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2013 (the “2013 10-K”). The results of operations for the period ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the full year.

	Vessels, net

	Vessels, net is stated at cost less accumulated depreciation. Included in vessel costs are acquisition costs directly attributable to the acquisition of a vessel and expenditures made to prepare the vessel for its initial voyage. The Company also capitalizes interest costs for a vessel under construction as a cost which is directly attributable to the acquisition of a vessel. Vessels are depreciated on a straight-line basis over their estimated useful lives, determined to be 25 years from the date of initial delivery from the shipyard. Depreciation expense for vessels for the three months ended March 31, 2014 and 2013 was $34,160 and $32,739, respectively.

	Depreciation expense is calculated based on cost less the estimated residual scrap value. The costs of significant replacements, renewals and betterments are capitalized and depreciated over the shorter of the vessel’s remaining estimated useful life or the estimated life of the renewal or betterment. Undepreciated cost of any asset component being replaced that was acquired after the initial vessel purchase is written off as a component of vessel operating expense. Expenditures for routine maintenance and repairs are expensed as incurred. Scrap value is estimated by the Company by taking the estimated scrap value of $245 per lightweight ton (“lwt”) times the weight of the ship in lwt’s.

	Deferred revenue

	Deferred revenue primarily relates to cash received from charterers prior to it being earned. These amounts are recognized as income when earned. Additionally, deferred revenue includes estimated customer claims mainly due to time charter performance issues. As of March 31, 2014 and December 31, 2013, the Company had an accrual of $579 and $536, respectively, related to these estimated customer claims.

	Voyage expense recognition

	In time charters, spot market-related time charters and pool agreements, operating costs including crews, maintenance and insurance are typically paid by the owner of the vessel and specified voyage costs such as fuel and port charges are paid by the charterer. There are certain other non-specified voyage expenses, such as commissions, which are typically borne by the Company. At the inception of a time charter, the Company records the difference between the cost of bunker fuel delivered by the terminating charterer and the bunker fuel sold to the new charterer as a gain or loss within voyage expenses. These differences in bunkers resulted in net gains of $66 and $364 during the three months ended March 31, 2014 and 2013, respectively. Additionally, voyage expenses include the cost of bunkers consumed during short-term time charters pursuant to the terms of the time charter agreement.

	Noncontrolling interest

	Net loss attributable to noncontrolling interest during the three months ended March 31, 2014 and 2013 reflects the noncontrolling interest’s share of the net loss of Baltic Trading, a subsidiary of the Company, which owns and employs drybulk vessels in the spot market, in vessel pools or on spot market-related time charters. The spot market represents immediate chartering of a vessel, usually for single voyages. At March 31, 2014 and December 31, 2013, the noncontrolling interest held an 88.95% economic interest in Baltic Trading while only holding 34.92% of the voting power.

	Income taxes

	Pursuant to certain agreements, GS&T technically and commercially manages vessels for Baltic Trading, as well as provides technical management of vessels for MEP in exchange for specified fees for these services provided. These services are performed by Genco Management (USA) Limited (“Genco (USA)”), which has elected to be taxed as a corporation for United States federal income tax purposes. As such, Genco (USA) is subject to United States federal income tax on its worldwide net income, including the net income derived from providing these services. Genco (USA) has entered into a cost-sharing agreement with the Company and Genco Ship Management LLC, collectively Manco, pursuant to which Genco (USA) agrees to reimburse Manco for the costs incurred by Genco (USA) for the use of Manco’s personnel and services in connection with the provision of the services for both Baltic Trading and MEP’s vessels.

	Total revenue earned for these services during the three months ended March 31, 2014 and 2013 was $1,855 and $1,490, respectively, of which $1,045 and $680, respectively, eliminated upon consolidation. After allocation of certain expenses, there was taxable income of $886 associated with these activities for the three months ended March 31, 2014. This resulted in estimated tax expense of $400 for the three months ended March 31, 2014. After allocation of certain expenses, there was taxable income of $592 associated with these activities for the three months ended March 31, 2013. This resulted in income tax expense of $224 for the three months ended March 31, 2013.

	Baltic Trading is subject to income tax on its United States source income. During the three months ended March 31, 2014, Baltic Trading had United States operations which resulted in United States source income of $567. Baltic Trading’s estimated United States income tax expense for the three months ended March 31, 2014 was $12. During the three months ended March 31, 2013, Baltic Trading did not earn any United States source income, and therefore, there was no income tax expense for the three months ended March 31, 2013.

SEGMENT_INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2014
SEGMENT INFORMATION	'
SEGMENT INFORMATION	'
	3 - SEGMENT INFORMATION

	The Company determines its operating segments based on the information utilized by the chief operating decision maker to assess performance. Based on this information, the Company has two reportable operating segments, GS&T and Baltic Trading. Both GS&T and Baltic Trading are engaged in the ocean transportation of drybulk cargoes worldwide through the ownership and operation of drybulk carrier vessels. GS&T seeks to deploy its vessels on time charters, spot market-related time charters or in vessel pools trading in the spot market and Baltic Trading seeks to deploy its vessel charters in the spot market, which represents immediate chartering of a vessel, usually for single voyages, or employing vessels on spot market-related time charters or in vessel pools. Segment results are evaluated based on net (loss) income. The accounting policies applied to the reportable segments are the same as those used in the preparation of the Company’s condensed consolidated financial statements.

	The following table presents a reconciliation of total voyage revenue from external (third party) customers for the Company’s two operating segments to total consolidated voyage revenue from external customers for the Company for the three months ended March 31, 2014 and 2013.

		For the Three Months Ended
		March 31,
		2014			2013
	Voyage Revenue from External Customers
	GS&T	$	50,089		$	33,690
	Baltic Trading	13,091			5,986
	Total operating segments	63,180			39,676
	Eliminating revenue	—			—
	Total consolidated voyage revenue from external customers	$	63,180		$	39,676

	The following table presents a reconciliation of total intersegment revenue, which eliminates upon consolidation, for the Company’s two operating segments for the three months ended March 31, 2014 and 2013. The intersegment revenue noted in the following table represents revenue earned by GS&T pursuant to the management agreement entered into with Baltic Trading, which includes commercial service fees, technical service fees and sale and purchase fees, if any.

		For the Three Months Ended
		March 31,
		2014			2013
	Intersegment revenue
	GS&T	$	1,045		$	680
	Baltic Trading	—			—
	Total operating segments	1,045			680
	Eliminating revenue	(1,045		)	(680		)
	Total consolidated intersegment revenue	$	—		$	—

	The following table presents a reconciliation of total net loss for the Company’s two operating segments to total consolidated net loss for the three months ended March 31, 2014 and 2013. The eliminating net loss noted in the following table consists of the elimination of intercompany transactions between GS&T and Baltic Trading, as well as dividends received by GS&T from Baltic Trading for its Class B shares of Baltic Trading.

		For the Three Months Ended
		March 31,
		2014			2013
	Net loss
	GS&T	$	(38,569	)	$	(46,848	)
	Baltic Trading	(3,533		)	(5,083		)
	Total operating segments	(42,102		)	(51,931		)
	Eliminating net loss	136			19
	Total consolidated net loss	$	(42,238	)	$	(51,950	)

	The following table presents a reconciliation of total assets for the Company’s two operating segments to total consolidated assets as of March 31, 2014 and December 31, 2013. The eliminating assets noted in the following table consist of the elimination of intercompany transactions resulting from the capitalization of fees paid to GS&T by Baltic Trading as vessel assets, including related accumulated depreciation, as well as the outstanding receivable balance due to GS&T from Baltic Trading as of March 31, 2014 and December 31, 2013.

		March 31, 2014			December 31,
					2013
	Total assets
	GS&T	$	2,353,364		$	2,404,811
	Baltic Trading	553,564			557,367
	Total operating segments	2,906,928			2,962,178
	Eliminating assets	(4,744		)	(4,924		)
	Total consolidated assets	$	2,902,184		$	2,957,254

CASH_FLOW_INFORMATION

CASH FLOW INFORMATION	3 Months Ended
CASH FLOW INFORMATION	Mar. 31, 2014
CASH FLOW INFORMATION	'
CASH FLOW INFORMATION	'
	4 - CASH FLOW INFORMATION

	As of March 31, 2014 and December 31, 2013, the Company had one and four interest rate swaps, respectively, which are described and discussed in Note 11 — Interest Rate Swap Agreements. At March 31, 2014, the fair value of the swap is in a liability position of $5,747, all of which was classified within current liabilities. At December 31, 2013, the four swaps were in a liability position of $6,975, all of which was classified within current liabilities.

	For the three months ended March 31, 2014, the Company had non-cash investing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in accounts payable and accrued expenses consisting of $213 for the purchase of vessels, including deposits and $145 for the purchase of other fixed assets. For the three months ended March 31, 2014, the Company had non-cash financing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in accounts payable and accrued expenses consisting of $253 associated with deferred financing fees and $5 for the payment of common stock issuance costs by its subsidiary. Additionally, for the three months ended March 31, 2014, the Company had non-cash financing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in current interest payable consisting of $13,199 associated with deferred financing fees.

	For the three months ended March 31, 2013, the Company had non-cash investing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in accounts payable and accrued expenses consisting of $27 for the purchase of vessels, including deposits and $48 for the purchase of other fixed assets. For the three months ended March 31, 2013, the Company had non-cash financing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in current interest payable consisting of $13,199 associated with deferred financing fees.

	During the three months ended March 31, 2014, the Company made a reclassification of $984 from fixed assets to vessel assets for items that should be capitalized and depreciated over the remaining life of the respective vessels.

	During the three months ended March 31, 2014 and 2013, cash paid for interest, net of amounts capitalized, and including bond coupon interest paid, was $14,163 and $20,795, respectively.

	During the three months ended March 31, 2014 and 2013, cash paid for estimated income taxes was $1,072 and $103, respectively.

VESSEL_ACQUISITIONS

VESSEL ACQUISITIONS	3 Months Ended
VESSEL ACQUISITIONS	Mar. 31, 2014
VESSEL ACQUISITIONS	'
VESSEL ACQUISITIONS	'
	5 - VESSEL ACQUISITIONS

	On July 2, 2013, Baltic Trading entered into agreements to purchase two Handysize drybulk vessels from subsidiaries of Clipper Group for an aggregate purchase price of $41,000. The Baltic Hare, a 2009-built Handysize vessel, was delivered on September 5, 2013 and the Baltic Fox, a 2010-built Handysize vessel, was delivered on September 6, 2013. Baltic Trading financed the vessel acquisitions with proceeds from its May 28, 2013 common stock offering and borrowings under its $22 Million Term Loan Facility entered into on August 30, 2013.

	On October 31, 2013, Baltic Trading entered into agreements to purchase two Capesize drybulk vessels from affiliates of SK Shipping Co. Ltd. for an aggregate purchase price of $103,000. The Baltic Lion, a 2012-built Capesize vessel, was delivered on December 27, 2013, and the Baltic Tiger, a 2011-built Capesize vessel, was delivered on November 26, 2013. Baltic Trading financed the vessel acquisitions with cash on hand and borrowings under its $44 Million Term Loan Facility entered into on December 3, 2013.

	On November 13, 2013, Baltic Trading entered into agreements to purchase up to four 64,000 dwt Ultramax newbuilding drybulk vessels from Yangfan Group Co., Ltd. for a purchase price of $28,000 per vessel, or up to $112,000 in the aggregate. Baltic Trading agreed to purchase two such vessels, to be renamed the Baltic Hornet and Baltic Wasp, and obtained an option to purchase up to two additional such vessels for the same purchase price, which Baltic Trading exercised on January 8, 2014. These vessels are to be renamed the Baltic Mantis and the Baltic Scorpion. The purchases are subject to completion of customary additional documentation and closing conditions. The Baltic Hornet and Baltic Wasp are expected to be delivered to Baltic Trading during the third and fourth quarters of 2014, respectively. The Baltic Scorpion and the Baltic Mantis are expected to be delivered to Baltic Trading during the second and third quarters of 2015, respectively. As of March 31, 2014 and December 31, 2013, deposits on vessels was $17,175 and $1,013, respectively. Baltic Trading intends to use a combination of cash on hand, future cash flow from operations as well as commercial bank debt to fully finance the acquisition of these four Ultramax newbuilding drybulk vessels.

	Refer to Note 1 — General Information for a listing of the vessel delivery dates for the vessels in the Company’s fleet and the estimated delivery dates for vessels that Baltic Trading has entered into agreements to purchase.

	Below market time charters, including those acquired during previous periods, were amortized as an increase to voyage revenue in the amount of $49 and $132 for the three months ended March 31, 2014 and 2013, respectively.

	Capitalized interest expense associated with the newbuilding contracts entered into by Baltic Trading for the three months ended March 31, 2014 and 2013 was $98 and $0, respectively.

INVESTMENTS

INVESTMENTS	3 Months Ended
INVESTMENTS	Mar. 31, 2014
INVESTMENTS	'
INVESTMENTS	'
	6 - INVESTMENTS

	The Company holds an investment in the capital stock of Jinhui Shipping and Transportation Limited (“Jinhui”) and Korea Line Corporation (“KLC”). Jinhui is a drybulk shipping owner and operator focused on the Supramax segment of drybulk shipping. KLC is a marine transportation service company which operates a fleet of carriers which includes carriers for iron ore, liquefied natural gas and tankers for oil and petroleum products. These investments are designated as Available For Sale (“AFS”) and are reported at fair value, with unrealized gains and losses recorded in equity as a component of accumulated other comprehensive income (loss) (“AOCI”). At March 31, 2014 and December 31, 2013, the Company held 16,335,100 shares of Jinhui capital stock which is recorded at its fair value of $63,286 and $77,488, respectively, based on the last closing price during each respective quarter on March 31, 2014 and December 30, 2013, respectively. At March 31, 2014 and December 31, 2013, the Company held 3,355 shares of KLC stock which is recorded at its fair value of $69 and $82, respectively, based on the last closing price during each respective quarter on March 31, 2014 and December 30, 2013.

	The Company reviews the investment in Jinhui and KLC for impairment on a quarterly basis. There were no impairment charges recognized for the three months ended March 31, 2014 and 2013.

	The unrealized gain (losses) on the Jinhui capital stock and KLC stock are a component of AOCI since these investments are designated as AFS securities.

	Refer to Note 12 — Accumulated Other Comprehensive Income (Loss) for a breakdown of the components of AOCI.

NET_LOSS_PER_COMMON_SHARE

NET LOSS PER COMMON SHARE	3 Months Ended
NET LOSS PER COMMON SHARE	Mar. 31, 2014
NET LOSS PER COMMON SHARE	'
NET LOSS PER COMMON SHARE	'
	7 — NET LOSS PER COMMON SHARE

	The computation of basic net loss per share is based on the weighted-average number of common shares outstanding during the year. The computation of diluted net loss per share assumes the vesting of nonvested stock awards (refer to Note 20 — Nonvested Stock Awards), for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost attributable to future services and are not yet recognized using the treasury stock method, to the extent dilutive. Of the 880,465 nonvested shares outstanding at March 31, 2014 (refer to Note 20 — Nonvested Stock Awards), all are anti-dilutive. The Company’s diluted net loss per share will also reflect the assumed conversion under the Company’s convertible debt if the impact is dilutive under the “if converted” method. The impact of the shares convertible under the Company’s convertible notes is excluded from the computation of diluted earnings per share when interest expense per common share obtainable upon conversion is greater than basic earnings per share.

	The components of the denominator for the calculation of basic net loss per share and diluted net loss per share are as follows:

		Three Months Ended
		March 31,
		2014		2013

	Common shares outstanding, basic:
	Weighted-average common shares outstanding, basic	43,568,942		43,161,510

	Common shares outstanding, diluted:
	Weighted-average common shares outstanding, basic	43,568,942		43,161,510

	Dilutive effect of convertible notes	—		—

	Dilutive effect of restricted stock awards	—		—

	Weighted-average common shares outstanding, diluted	43,568,942		43,161,510

	The following table sets forth a reconciliation of the net loss attributable to GS&T and the net loss attributable to GS&T for diluted net loss per share under the “if-converted” method:

		Three Months Ended
		March 31,
		2014			2013

	Net loss attributable to GS&T	$	(39,105	)	$	(48,163	)

	Interest expense related to convertible notes, if dilutive	—			—

	Net loss attributable to GS&T for the computation of diluted net loss per share	$	(39,105	)	$	(48,163	)

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2014
RELATED PARTY TRANSACTIONS	'
RELATED PARTY TRANSACTIONS	'
	8 - RELATED PARTY TRANSACTIONS

	The following represent related party transactions reflected in these condensed consolidated financial statements:

	The Company makes available employees performing internal audit services to General Maritime Corporation (“GMC”), where the Company’s Chairman, Peter C. Georgiopoulos, also serves as Chairman of the Board. For the three months ended March 31, 2014 and 2013, the Company invoiced $35 and $35, respectively, to GMC, which includes time associated with such internal audit services and other expenditures. Additionally, during the three months ended March 31, 2014 and 2013, the Company incurred travel and other office related expenditures totaling $28 and $27, respectively, reimbursable to GMC or its service provider. At March 31, 2014 and December 31, 2013, the amount due to GMC from the Company was $9 and $16, respectively.

	During the three months ended March 31, 2014 and 2013, the Company incurred legal services (primarily in connection with vessel acquisitions) aggregating $3 and $0, respectively, from Constantine Georgiopoulos, the father of Peter C. Georgiopoulos, Chairman of the Board. At March 31, 2014 and December 31, 2013, the amount due to Constantine Georgiopoulos was $26 and $25, respectively.

	GS&T and Baltic Trading have entered into agreements with Aegean Marine Petroleum Network, Inc. (“Aegean”) to purchase lubricating oils for certain vessels in their fleets. Peter C. Georgiopoulos, Chairman of the Board of the Company, is Chairman of the Board of Aegean. During the three months ended March 31, 2014 and 2013, Aegean supplied lubricating oils to the Company’s vessels aggregating $600 and $565, respectively. At March 31, 2014 and December 31, 2013, $367 and $263 remained outstanding, respectively.

	During the three months ended March 31, 2014 and 2013, the Company invoiced MEP for technical services provided and expenses paid on MEP’s behalf aggregating $822 and $832, respectively. Peter C. Georgiopoulos, Chairman of the Board, controls and has a minority interest in MEP. At March 31, 2014 and December 31, 2013, $2 and $7, respectively, was due to the Company from MEP. Total service revenue earned by the Company for technical service provided to MEP for the three months ended March 31, 2014 and 2013 was $810 during both periods.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2014
DEBT	'
DEBT	'
	9 - DEBT

	Long-term debt consists of the following:

			March 31, 2014			December 31, 2013

	2007 Credit Facility		$	1,055,912		$	1,055,912
	$100 Million Term Loan Facility		73,561			75,484
	$253 Million Term Loan Facility		175,718			180,793
	2010 Baltic Trading Credit Facility		102,250			102,250
	Baltic Trading $22 Million Term Loan Facility		21,250			21,625
	Baltic Trading $44 Million Term Loan Facility		43,313			44,000
	Less: Current portion		(1,309,441		)	(1,316,439		)

	Long-term debt		$	162,563		$	163,625

	2007 Credit Facility

	On July 20, 2007, the Company entered into the 2007 Credit Facility with DnB NOR Bank ASA. The maximum amount that may be borrowed under the 2007 Credit Facility at March 31, 2014 is $1,055,912. As of March 31, 2014, the Company has utilized its maximum borrowing capacity under the 2007 Credit Facility.

	In 2009, the Company obtained a waiver of the collateral maintenance covenant under this facility until the Company can represent that it is in compliance with all of its financial covenants and is otherwise able to pay a dividend and purchase or redeem shares of common stock under the terms of the facility in effect before the waiver. The Company’s cash dividends and share repurchases have been suspended until the collateral maintenance financial covenant can be satisfied.

	The maximum leverage ratio covenant and minimum permitted consolidated interest ratio covenants were waived for the periods ending on and including December 31, 2013 pursuant to the August 1, 2012 agreements to amend or waive certain provisions of the agreements for the 2007 Credit Facility, $100 Million Term Loan Facility and the $253 Million Term Loan Facility (as defined below) (the “August 2012 Agreements”).

	The gross interest-bearing debt to total capital covenant ended during the period ending on and including December 31, 2013 pursuant to the August 2012 Agreements. This covenant limits the ratio of the Company’s interest-bearing indebtedness to the sum of its interest-bearing indebtedness and its consolidated net worth in accordance with GAAP to 62.5% on the last day of any fiscal quarter during the waiver period.

	Additionally, pursuant to the August 2012 Agreements, the total applicable margin over LIBOR payable on the principal amount of debt outstanding increased from 2.0% to 3.0% per annum. The minimum cash balance required was also increased from $500 to $750 per vessel mortgaged under this facility pursuant to the August 2012 Agreements.

	Pursuant to the amendment to the 2007 Credit Facility which was entered into on December 21, 2011, the Company was subject to a facility fee of 2.0% per annum on the average daily outstanding principal amount of the loans outstanding, payable quarterly in arrears, which was subject to a reduction to 1.0% if the Company consummated an equity offering resulting in an aggregate amount of $50,000 of gross proceeds. On February 28, 2012, the Company completed an equity offering of 7,500,000 shares which resulted in gross proceeds of $53,250. As such, effective February 28, 2012, the facility fee was reduced to 1.0%.

	As of March 31, 2014, the Company was not in compliance with certain of the financial covenants under its 2007 Credit Facility, as amended, and the debt outstanding under this facility of $1,055,912 has been classified as a current liability in the condensed consolidated balance sheets.

	At March 31, 2014, there were no letters of credit issued under the 2007 Credit Facility.

	To allow discussions with our creditors concerning our restructuring to continue into April 2014 without the need to file for immediate bankruptcy relief, on March 31, 2014, we entered into agreements with certain of the lenders under our 2007 Credit Facility, our $100 Million Term Loan Facility, and our $253 Million Term Loan Facility (our “Credit Facilities”) to obtain waivers or forbearances with respect to certain potential or actual events of default as of March 31, 2014 as follows (the “Relief Agreements”):

	· not making the scheduled amortization payment on March 31, 2014 under our 2007 Credit Facility;

	· not meeting the consolidated interest ratio covenant for the period ended March 31, 2014;

	· not meeting the maximum leverage ratio covenant for the period ending March 31, 2014;

	· not meeting the collateral maintenance test under the 2007 Credit Facility;

	· not meeting the minimum cash balance covenant under the 2007 Credit Facility;

	· not furnishing audited financial statements to the lenders within 90 days after year end for the year ended December 31, 2013;

	· a cross-default with respect to our outstanding interest rate swap with respect to the foregoing;

	· cross-defaults among our credit facilities with respect to the foregoing; and

	· any related defaults or events of default resulting from the failure to give notice with respect to any of the foregoing.

	The Relief Agreement for our 2007 Credit Facility provided that the agent and consenting lenders would forbear to exercise their rights and remedies through 11:59 p.m. on April 1, 2014 with respect to the foregoing potential or actual events of default, subject to earlier termination if a subsequent event of default occurs under our credit agreements other than those described above or if we breach the terms of the Relief Agreement. The Relief Agreements for our other two Credit Facilities provided that the agent and lenders waived through 11:59 p.m. on April 1, 2014 the foregoing potential or actual events of default, subject to earlier termination if a subsequent event of default occurs under our credit agreements or if we breach the terms of the Relief Agreements. Notwithstanding such waivers and forbearances, the fact that we did not make the scheduled amortization payment on March 31, 2014 constituted an event of default under our currently outstanding interest rate swap. In addition, under the indenture and supplemental indenture (the “Indenture”) governing our 5.0% Convertible Senior Notes issued on July 27, 2010 (the “2010 Notes”), our failure to make such payment would constitute an event of default under the Indenture if we fail to cure such default within 30 days after notice from the trustee under the Indenture.

	On April 1, 2014, we entered into new agreements with the other parties to the Relief Agreements that extended the expiration of the forbearances and waivers under the Relief Agreements from 11:59 p.m. on April 1, 2014 to 11:59 p.m. on April 21, 2014. Also, the forbearances and waivers would have terminated if a definitive agreement for our restructuring was not effective by 11:59 p.m. on April 4, 2014. We avoided this termination through our entry into the Support Agreement. Such new agreements are otherwise on substantially the same terms and conditions as the Relief Agreements.

	$100 Million Term Loan Facility

	On August 12, 2010, the Company entered into the $100 Million Term Loan Facility. As of March 31, 2014, the Company has utilized its maximum borrowing capacity as $100,000. The Company has used the $100 Million Term Loan Facility to fund or refund the Company a portion of the purchase price of the acquisition of five vessels from companies within the Metrostar group of companies. As of March 31, 2014, there was no availability under the $100 Million Term Loan Facility.

	Pursuant to the amendments to the $100 Million Term Loan Facility that were entered into on December 21, 2011 and the August 2012 Agreements, the maximum leverage ratio covenant and the minimum permitted consolidated interest ratio covenant were waived for the periods ending on and including December 31, 2013.

As of March 31, 2014, the Company was not in compliance with certain of the financial covenants under the $100 Million Term Loan Facility, as amended. As such, the debt outstanding under this facility of $73,561 has been classified as a current liability in the condensed consolidated balance sheets as of March 31, 2014.

See above in this note under the heading “2007 Credit Facilities” for a description of the agreement the Company entered into to obtain waivers with respect to certain events of default relating to the $100 Million Term Loan Facility. See Note 1 — General Information for the Company’s restructuring plans, including its filing of the Chapter 11 Cases.

$253 Million Term Loan Facility

On August 20, 2010, the Company entered into the $253 Million Term Loan Facility. As of March 31, 2014, the Company has utilized its maximum borrowing capacity of $253,000 to fund or refund to the Company a portion of the purchase price of the 13 vessels purchased from Bourbon SA during the third quarter of 2010 and first quarter of 2011. As of March 31, 2014, there was no availability under the $253 Million Term Loan Facility.

Pursuant to the amendment to the $253 Million Term Loan Facility that was entered into on December 21, 2011 and the August 2012 Agreements, the maximum leverage ratio covenant and the minimum permitted consolidated interest ratio covenant were waived for the periods ending on and including December 31, 2013.

As of March 31, 2014 and December 31, 2013, the Company has deposited $9,875 and $9,750, respectively, that has been reflected as restricted cash. Restricted cash will be released only if the underlying collateral is sold or disposed of.

As of March 31, 2014, the Company was not in compliance with certain of the financial covenants under the $253 Million Term Loan Facility, as amended. As such, the debt outstanding under this facility of $175,718 has been classified as a current liability and the restricted cash related to this facility has been classified as a current asset in the condensed consolidated balance sheets as of March 31, 2014.

See above in this note under the heading “2007 Credit Facilities” for a description of the agreement the Company entered into to obtain waivers with respect to certain events of default relating to the $253 Million Term Loan Facility. See Note 1 — General Information for the Company’s restructuring plans, including its filing of the Chapter 11 Cases.

2010 Baltic Trading Credit Facility

On April 16, 2010, Baltic Trading entered into a $100,000 senior secured revolving credit facility with Nordea Bank Finland plc, acting through its New York branch (as amended, the “2010 Baltic Trading Credit Facility”). An amendment to the 2010 Baltic Trading Credit Facility was entered into by Baltic Trading effective November 30, 2010. Among other things, this amendment increased the commitment amount of the 2010 Baltic Trading Credit Facility from $100,000 to $150,000. An additional amendment to the 2010 Baltic Trading Credit Facility was entered into by Baltic Trading effective August 29, 2013 (the “August 2013 Amendement”). Among other things, the August 2013 Amendment implements the following modifications to the 2010 Baltic Trading Credit Facility:

· The requirement that certain additional vessels acquired by Baltic Trading be mortgaged as collateral under the 2010 Baltic Trading Credit Facility was eliminated.

· Restrictions on the incurrence of indebtedness by Baltic Trading and its subsidiaries were amended to apply only to those subsidiaries acting as guarantors under the 2010 Baltic Trading Credit Facility.

· The total commitment under this facility was reduced to $110,000 and will be further reduced in three consecutive semi-annual reductions of $5,000 commencing on May 30, 2015.

· Borrowings bear interest at an applicable margin over LIBOR of 3.00% per annum if the ratio of the maximum facility amount of the aggregate appraised value of vessels mortgaged under the facility is 55% or less, measured quarterly; otherwise, the applicable margin is 3.35% per annum.

· Financial covenants corresponding to the liquidity and leverage under the Baltic Trading $22 Million Term Loan Facility (as defined below) have been incorporated into the 2010 Baltic Trading Credit Facility.

As of March 31, 2014, $7,750 remained available under the 2010 Baltic Trading Credit Facility as the total commitment was reduced to $110,000 on August 29, 2013. The total available working capital borrowings of $25,000 are subject to the total remaining availability under the 2010 Baltic Trading Credit Facility, therefore, only $7,750 is available for working capital purposes as of March 31, 2014.

As of March 31, 2014, the Company believes Baltic Trading is in compliance with all of the financial covenants under the 2010 Baltic Trading Credit Facility.

Baltic Trading $22 Million Term Loan Facility

On August 30, 2013, Baltic Hare Limited and Baltic Fox Limited, wholly-owned subsidiaries of Baltic Trading, entered into a secured loan agreement with DVB Bank SE for a term loan facility of up to $22,000 (the “Baltic Trading $22 Million Term Loan Facility”). Amounts borrowed and repaid under the Baltic Trading $22 Million Term Loan Facility may not be reborrowed. This facility has a maturity date of the sixth anniversary of the drawdown date for borrowings for the second vessel to be purchased, or September 4, 2019. Borrowings under the Baltic Trading $22 Million Term Loan Facility bear interest at the three-month LIBOR rate plus an applicable margin of 3.35% per annum. A commitment fee of 1.00% per annum is payable on the unused daily portion of the credit facility, which began accruing on August 30, 2013 and ended on September 4, 2013, the date which the entire $22,000 was borrowed. Borrowings are to be repaid in 23 quarterly installments of $375 each commencing three months after the last vessel delivery date, or December 4, 2013, and a final payment of $13,375 due on the maturity date.

Borrowings under the Baltic Trading $22 Million Term Loan Facility are secured by liens on Baltic Trading’s vessels purchased with borrowings under the facility, namely the Baltic Fox and the Baltic Hare, and other related assets. Under a Guarantee and Indemnity entered into concurrently with the Baltic Trading $22 Million Term Loan Facility, Baltic Trading agreed to guarantee the obligations of its subsidiaries under the Baltic Trading $22 Million Term Loan Facility.

On September 4, 2013, Baltic Hare Limited and Baltic Fox Limited made drawdowns of $10,730 and $11,270 for the Baltic Hare and the Baltic Fox, respectively. As of March 31, 2014, Baltic Trading has utilized its maximum borrowing capacity of $22,000 and there was no further availability. At March 31, 2014 and December 31, 2013, the total outstanding debt balance was $21,250 and $21,625, respectively, as required repayments began on December 4, 2013.

As of March 31, 2014 the Company believes Baltic Trading is in compliance with all of the financial covenants under the Baltic Trading $22 Million Term Loan Facility.

Baltic Trading $44 Million Term Loan Facility

On December 3, 2013, Baltic Tiger Limited and Baltic Lion Limited, wholly-owned subsidiaries of Baltic Trading, entered into a secured loan agreement with DVB Bank SE for a term loan facility of up to $44,000 (the “Baltic Trading $44 Million Term Loan Facility”). Amounts borrowed and repaid under the Baltic Trading $44 Million Term Loan Facility may not be reborrowed. The Baltic Trading $44 Million Term Loan Facility has a maturity date of the sixth anniversary of the drawdown date for borrowings for the second vessel to be purchased, or December 23, 2019. Borrowings under the Baltic Trading $44 Million Term Loan Facility bear interest at the three-month LIBOR rate plus an applicable margin of 3.35% per annum. A commitment fee of 0.75% per annum is payable on the unused daily portion of the credit facility, which began accruing on December 3, 2013 and ended on December 23, 2013, the date which the entire $44,000 was borrowed. Borrowings are to be repaid in 23 quarterly installments of $688 each commencing three months after the last drawdown date, or March 24, 2014, and a final payment of $28,188 due on the maturity date.

Borrowings under the Baltic Trading $44 Million Term Loan Facility are to be secured by liens on the Company’s vessels to be financed or refinanced with borrowings under the facility, namely the Baltic Tiger and the Baltic Lion, and other related assets. Upon the prepayment of $18,000 plus any additional amounts necessary to maintain compliance with the collateral maintenance covenant, Baltic Trading may have the lien on the Baltic Tiger released. Under a Guarantee and Indemnity entered into concurrently with the Baltic Trading $44 Million Term Loan Facility, Baltic Trading agreed to guarantee the obligations of its subsidiaries under the Baltic Trading $44 Million Term Loan Facility.

On December 23, 2013, Baltic Tiger Limited and Baltic Lion Limited made drawdowns of $21,400 and $22,600 for the Baltic Tiger and Baltic Lion, respectively. As of March 31, 2014, Baltic Trading has utilized its maximum borrowing capacity of $44,000 and there was no further availability. At March 31, 2014 and December 31, 2013, the total outstanding debt balance was $43,313 and $44,000, respectively, as required repayments began on March 24, 2014.

As of March 31, 2014, the Company believes Baltic Trading is in compliance with all of the financial covenants under the Baltic Trading $44 Million Term Loan Facility.

Change of Control

If the Company’s ownership in Baltic Trading were to decrease to less than 10% of the aggregate number of shares of common stock and Class B Stock of Baltic Trading, the outstanding Baltic Trading Class B Stock held by the Company would automatically convert into common stock, and the voting power held by the Company in Baltic Trading would likewise decrease to less than 30%. This would result in a change of control as defined under the Baltic Trading 2010 Credit Facility, the Baltic Trading $22 Million Term Loan Facility and the Baltic Trading $44 Million Term Loan Facility, and would therefore constitute an event of default. Additionally, a change of control constituting an event of default under Baltic Trading’s credit facilities would also occur if any party other than the Company or certain other permitted holders beneficially owns more than 30% of the Company’s outstanding voting or economic equity interests, which may occur if a party were deemed to control Genco. Refer to Note 1 — General Information for discussion of the Company’s current economic status.

Interest payable

As required under the August 2012 Agreements, lenders under the 2007 Credit Facility will receive a fee equal to 1.25% of the principal amount outstanding following such prepayment, or $13,199, on the earlier date of the maturity date of this facility or the date on which all obligations under this facility have been paid in full. The $13,199 has been recorded in the condensed consolidated balance sheet at March 31, 2014 as a current liability, consistent with the classification of the principal amount of the 2007 Credit Facility.

Interest rates

The following tables sets forth the effective interest rate associated with the interest expense for the Company’s debt facilities noted above, including the rate differential between the pay fixed, receive variable rate on the interest rate swap agreements that were in effect (refer to Note 11 — Interest Rate Swap Agreements), combined, the cost associated with unused commitment fees as well as the 1.0% facility fee for the 2007 Credit Facility as noted above. Additionally, it includes the range of interest rates on the debt, excluding the impact of swaps and unused commitment fees:

		Three Months Ended March 31,
		2014		2013
Effective Interest Rate		4.35	%	4.73	%
Range of Interest Rates (excluding impact of swaps and unused commitment fees)		3.15% to 4.25	%	3.20% to 4.38	%

CONVERTIBLE_SENIOR_NOTES

CONVERTIBLE SENIOR NOTES	3 Months Ended
	Mar. 31, 2014
CONVERTIBLE SENIOR NOTES	'
CONVERTIBLE SENIOR NOTES	'
	10 — CONVERTIBLE SENIOR NOTES

	The Company issued $125,000 of the 2010 Notes on July 27, 2010. The Indenture for the 2010 Notes includes customary agreements and covenants by the Company, including with respect to events of default.

	The following tables provide additional information about the Company’s 2010 Notes:

		March 31, 2014			December 31,
					2013
	Carrying amount of the equity component (additional paid-in capital)	$	24,375		$	24,375
	Principal amount of the 2010 Notes	125,000			125,000
	Unamortized discount of the liability component	7,820			9,119
	Net carrying amount of the liability component	117,180			115,881


		Three Months Ended
		March 31,
		2014			2013
	Effective interest rate on liability component	10		%	10		%
	Cash interest expense recognized	$	1,541		$	1,541
	Non-cash interest expense recognized	1,299			1,179
	Non-cash deferred financing amortization costs included in interest expense	177			177


	The remaining period over which the unamortized discount will be recognized is 1.38 years. As of March 31, 2014, the if-converted value of the 2010 Notes does not exceed their principal amount.

	Refer to Note 1 — General Information for additional information regarding defaults relating to the 2010 Notes. As such, in accordance with applicable accounting guidance, the liability related to the 2010 Notes was classified as a current liability in the consolidated balance sheet as of March 31, 2014 and December 31, 2013.

INTEREST_RATE_SWAP_AGREEMENTS

INTEREST RATE SWAP AGREEMENTS

3 Months Ended

Mar. 31, 2014

INTEREST RATE SWAP AGREEMENTS

11 - INTEREST RATE SWAP AGREEMENTS

As of March 31, 2014 and December 31, 2013, the Company had one and four interest rate swap agreements outstanding, respectively, with DnB NOR Bank to manage interest costs and the risk associated with variable interest rates related to the Company’s 2007 Credit Facility. The total notional principal amount of the swaps at March 31, 2014 and December 31, 2013 was $106,233 and $306,233, respectively, and the swaps have specified rates and durations.

The following table summarizes the interest rate swaps designated as cash flow hedges that were in place as of March 31, 2014 and December 31, 2013:

March 31, 2014

December 31,

2013

Interest Rate Swap Detail

Notional

Trade

Fixed

Start Date

End date

Amount

Date

Rate

of Swap

Outstanding

9/6/05

4.485

9/14/05

7/29/15

106,233

3/29/06

5.25

1/2/07

1/1/14

—

50,000

1/9/09

2.05

1/22/09

1/22/14

—

100,000

2/11/09

2.45

2/23/09

2/23/14

—

50,000

106,233

306,233

The following table summarizes the derivative asset and liability balances at March 31, 2014 and December 31, 2013:

Asset Derivatives

Liability Derivatives

Balance

Fair Value

Balance

Fair Value

Sheet

March 31,

December

Sheet

March 31,

December

Location

2014

31, 2013

Location

2014

31, 2013

Derivatives designated as hedging instruments

Interest rate contracts

Fair value of derivative instruments (Current Assets)

—

Fair value of derivative instruments (Current Liabilities)

5,747

6,975

Interest rate contracts

Fair value of derivative instruments (Noncurrent Assets)

—

Fair value of derivative instruments (Noncurrent Liabilities)

—

Total derivatives designated as hedging instruments

—

5,747

6,975

Total Derivatives

—

5,747

6,975

The differentials to be paid or received for these swap agreements are recognized as an adjustment to interest expense as incurred. The Company utilized cash flow hedge accounting for these swaps through March 31, 2014, whereby the effective portion of the change in the value of the swaps is reflected as a component of AOCI. The ineffective portion is recognized as other expense, which is a component of other (expense) income. On March 31, 2014, the cash flow hedge accounting on the remaining swap agreement was discontinued. After March 31, 2014, changes in the valuation of the swap agreement will be reflected as a component of other (expense) income.

Refer to Note 1 — General Information for additional information regarding defaults relating to the swap. As of March 31, 2014, the Company is in default under covenants of its 2007 Credit Facility due to the default on the scheduled debt amortization payment due on March 31, 2014. The default under the 2007 Credit Facility requires the Company to elect interest periods of only one-month, therefore the Company no longer qualifies for hedge accounting under the original designation and hedge accounting has been terminated effective March 31, 2014. As such, in accordance with applicable accounting guidance, the Company has classified the liability related to this interest rate swap as a current liability in its condensed consolidated balance sheet as of March 31, 2014. If the swap agreement is at any time settled, the Company will be required to release any remaining AOCI associated with the swap agreement to interest expense.

The following tables present the impact of derivative instruments and their location within the Condensed Consolidated Statement of Operations:

The Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations

For the Three-Month Period Ended March 31, 2014

Derivatives in Cash

Amount of

Location of

Amount of

Location of

Amount of

Flow Hedging

Gain (Loss)

Recognized

Reclassified

Recognized in

in AOCI on

from AOCI

Income on

Derivative

into income

Derivative

(Effective

(Ineffective

Portion)

Relationships

2014

Portion)

2014

Portion)

2014

Interest rate contracts

(179

)

Interest Expense

(1,407

)

Other Income (Expense)

—

The Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations

For the Three-Month Period Ended March 31, 2013

Derivatives in Cash

Amount of

Location of

Amount of

Location of

Amount of

Flow Hedging

Gain (Loss)

Recognized

Reclassified

Recognized in

in AOCI on

from AOCI

Income on

Derivative

into income

Derivative

(Effective

(Ineffective

Portion)

Relationships

2013

Portion)

2013

Portion)

2013

Interest rate contracts

(138

)

Interest Expense

(2,439

)

Other Income (Expense)

)

The Company is required to provide collateral in the form of vessel assets to support the interest rate swap agreements, excluding vessel assets of Baltic Trading. At March 31, 2014, the Company’s 35 vessels mortgaged under the 2007 Credit Facility served as collateral in the aggregate amount of $100,000.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	'
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	'
	12 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

	The components of AOCI included in the accompanying condensed consolidated balance sheets consist of net unrealized gain (loss) on cash flow hedges and net unrealized gains (losses) from investments in Jinhui stock and KLC stock as of March 31, 2014 and December 31, 2013.

	Changes in AOCI by Component
	For the Three-Month Period Ended March 31, 2014

		Net Unrealized			Net Unrealized			Total
		Gain (Loss) on			Gain
		Cash Flow			on
		Hedges			Investments
	AOCI — January 1, 2014	$	(6,976	)	$	60,698		$	53,722

	OCI before reclassifications	2,635			(14,215		)	(11,580		)
	Amounts reclassified from AOCI	(1,407		)	—			(1,407		)
	Net current-period OCI	1,228			(14,215		)	(12,987		)

	AOCI — March 31, 2014	$	(5,748	)	$	46,483		$	40,735

	Reclassifications Out of AOCI
	For the Three-Month Period Ended March 31, 2014

		Amount Reclassified from AOCI
		Three Months Ended						Affected Line Item in
		March 31,						the Statement Where
	Details about AOCI Components	2014			2013			Net Loss is Presented
	Gains and losses on cash flow hedges
	Interest rate contracts	$	1,407		$	2,439		Interest expense

	Total reclassifications for the period	$	1,407		$	2,439

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS

3 Months Ended

Mar. 31, 2014

FAIR VALUE OF FINANCIAL INSTRUMENTS

13 - FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair values and carrying values of the Company’s financial instruments at March 31, 2014 and December 31, 2013 which are required to be disclosed at fair value, but not recorded at fair value, are noted below.

March 31, 2014

December 31, 2013

Carrying

Fair Value

Carrying

Fair Value

Value

Cash and cash equivalents

92,408

122,722

Restricted cash

10,275

10,150

Floating rate debt

1,472,004

See Below

1,480,064

See Below

2010 Notes

117,180

102,116

115,881

63,438

The fair value of the floating rate debt under the $100 Million Term Loan Facility and $253 Million Term Loan Facility are based on management’s estimate utilizing rates the Company believes it would be able to obtain for these credit facilities. However, a portion of the floating rate debt of the 2007 Credit Facility was traded in a private transaction for an amount that is not determinable by the Company, which Management believes was lower than the debt’s current carrying value. The fair value of the 2010 Baltic Trading Credit Facility is based on rates Baltic Trading has recently obtained pursuant to the amendment to the existing 2010 Baltic Trading Credit Facility on August 29, 2013. The fair value of the Baltic Trading $22 Million Term Loan Facility and the Baltic Trading $44 Million Term Loan Facility is based on rates that Baltic Trading recently obtained upon the effective dates of these facilities on August 30, 2013 and December 3, 2013, respectively. Additionally, the Company considers its creditworthiness in determining the fair value of floating rate debt under the credit facilities. The carrying value approximates the fair market value for these floating rate loans, except for the 2007 Credit Facility. The fair value of the convertible senior notes payable represents the market value based on recent transactions of the 2010 Notes at March 31, 2014 and December 31, 2013 without bifurcating the value of the conversion option. The fair value of the interest rate swaps is the estimated amount the Company would receive to terminate the swap agreements at the reporting date, taking into account current interest rates and the creditworthiness of both the swap counterparty and the Company. The carrying amounts of the Company’s other financial instruments at March 31, 2014 and December 31, 2013 (principally Due from charterers and Accounts payable and accrued expenses), approximate fair values because of the relatively short maturity of these instruments.

ASC Subtopic 820-10, “Fair Value Measurements & Disclosures” (“ASC 820-10”), applies to all assets and liabilities that are being measured and reported on a fair value basis. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumption (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:

· Level 1—Valuations based on quoted prices in active markets for identical instruments that the Company is able to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these instruments does not entail a significant degree of judgment.

· Level 2—Valuations based on quoted prices in active markets for instruments that are similar, or quoted prices in markets that are not active for identical or similar instruments, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.

· Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

As of March 31, 2014 and December 31, 2013, the fair values of the Company’s financial assets and liabilities are categorized as follows:

March 31, 2014

Total

Quoted

Significant

Market

Other

Prices in

Observable

Active

Inputs

Markets

(Level 2)

(Level 1)

Investments

63,355

—

Derivative instruments — liability position

5,747

—

5,747

December 31, 2013

Total

Quoted

Significant

Market

Other

Prices in

Observable

Active

Inputs

Markets

(Level 2)

(Level 1)

Investments

77,570

—

Derivative instruments — liability position

6,975

—

6,975

The Company holds an investment in the capital stock of Jinhui, which is classified as a long-term investment. The stock of Jinhui is publicly traded on the Oslo Stock Exchange and is considered a Level 1 item. The Company also holds an investment in the stock of KLC, which is classified as a long-term investment. The stock of KLC is publicly traded on the Korea Stock Exchange and is considered a Level 1 item. The Company’s only interest rate derivative instrument is a pay-fixed, receive-variable interest rate swaps based on LIBOR. The Company has elected to use the income approach to value this derivative, using observable Level 2 market inputs at measurement date and standard valuation techniques to convert future amounts to a single present amount assuming that participants are motivated, but not compelled to transact. Level 2 inputs for the valuations are limited to quoted prices for similar assets or liabilities in active markets (specifically futures contracts on LIBOR for the first two years) and inputs other than quoted prices that are observable for the asset or liability (specifically LIBOR cash and swap rates and credit risk at commonly quoted intervals). Mid-market pricing is used as a practical expedient for fair value measurements. Refer to Note 11 — Interest Rate Swap Agreements for further information regarding the Company’s interest rate swap agreements. ASC 820-10 states that the fair value measurement of an asset or liability must reflect the nonperformance risk of the entity and the counterparty. Therefore, the impact of the counterparty’s creditworthiness when in an asset position and the Company’s creditworthiness when in a liability position have also been factored into the fair value measurement of the derivative instruments. This credit valuation adjustment did not have a material impact on the fair value measurement of the derivative instruments. Refer to Note 1 — General Information for additional information regarding defaults relating to the swap. Cash and cash equivalents and restricted cash are considered Level 1 items as they represent liquid assets with short-term maturities. Floating rate debt is considered to be a Level 2 item as the Company considers the estimate of rates it could obtain for similar debt or based upon transaction amongst third parties. The 2010 Notes are publicly traded in the over-the-counter market; however, they are not considered to be actively traded. As such, the 2010 Notes are considered to be a Level 2 item. The Company did not have any Level 3 financial assets or liabilities during the three months ended March 31, 2014 and 2013.

PREPAID_EXPENSES_AND_OTHER_CUR

PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS	3 Months Ended
	Mar. 31, 2014
PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS	'
PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS	'
	14 - PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS

	Prepaid expenses and other current assets consist of the following:

		March 31, 2014		December
				31, 2013
	Lubricant inventory, fuel oil and diesel oil inventory and other stores	$	10,247	$	11,342
	Prepaid items	7,596		5,000
	Insurance receivable	844		1,096
	Other	7,588		1,627
	Total prepaid expenses and other current assets	$	26,275	$	19,065

	Other noncurrent assets in the amount of $514 at March 31, 2014 and December 31, 2013 represent the security deposit related to the operating lease entered into effective April 4, 2011. Refer to Note 19 — Commitments and Contingencies for further information related to the lease agreement.

DEFERRED_FINANCING_COSTS

DEFERRED FINANCING COSTS	3 Months Ended
	Mar. 31, 2014
DEFERRED FINANCING COSTS	'
DEFERRED FINANCING COSTS	'
	15 — DEFERRED FINANCING COSTS

	Deferred financing costs include fees, commissions and legal expenses associated with securing loan facilities and other debt offerings and amending existing loan facilities. Total net deferred financing costs consist of the following as of March 31, 2014 and December 31, 2013:

		March 31, 2014		December
				31, 2013

	2007 Credit Facility	$	29,568	$	29,568
	$100 Million Term Loan Facility	1,856		1,783
	$253 Million Term Loan Facility	4,884		4,708
	2010 Notes	3,637		3,637
	2010 Baltic Trading Credit Facility	3,339		3,339
	Baltic Trading $22 Million Term Loan Facility	529		518
	Baltic Trading $44 Million Term Loan Facility	739		737
	Total deferred financing costs	44,552		44,290
	Less: accumulated amortization	24,498		22,279
	Total	$	20,054	$	22,011

	Amortization expense for deferred financing costs for the three months ended March 31, 2014 and 2013 was $2,220 and $1,835, respectively. This amortization expense is recorded as a component of interest expense in the Condensed Consolidated Statements of Operations.

FIXED_ASSETS

FIXED ASSETS	3 Months Ended
	Mar. 31, 2014
FIXED ASSETS	'
FIXED ASSETS	'
	16 - FIXED ASSETS

	Fixed assets consist of the following:

		March 31, 2014		December
				31, 2013
	Fixed assets, at cost:
	Vessel equipment	$	3,576	$	4,323
	Leasehold improvements	2,679		2,679
	Furniture and fixtures	786		786
	Computer equipment	794		754
	Total costs	7,835		8,542
	Less: accumulated depreciation and amortization	3,653		3,438
	Total	$	4,182	$	5,104

	Depreciation and amortization expense for fixed assets for the three months ended March 31, 2014 and 2013 was $219 and $228, respectively. Refer to Note 4 — Cash Flow Information for information regarding the reclassification from fixed assets to vessels assets during the three months ended March 31, 2014.

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2014
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
	17 — ACCOUNTS PAYABLE AND ACCRUED EXPENSES

	Accounts payable and accrued expenses consist of the following:

		March 31, 2014		December
				31, 2013
	Accounts payable	$	9,958	$	5,643
	Accrued general and administrative expenses	11,127		8,960
	Accrued vessel operating expenses	14,520		12,756
	Total	$	35,605	$	27,359

REVENUE_FROM_TIME_CHARTERS

REVENUE FROM TIME CHARTERS	3 Months Ended
REVENUE FROM TIME CHARTERS	Mar. 31, 2014
REVENUE FROM TIME CHARTERS	'
REVENUE FROM TIME CHARTERS	'
	18 - REVENUE FROM TIME CHARTERS

	Total voyage revenue earned on time charters, including revenue earned in vessel pools and spot market-related time charters, as well as the sale of bunkers consumed during short-term time charters, for the three months ended March 31, 2014 and 2013 was $63,180 and $39,676, respectively. There was no profit sharing revenue earned during the three months ended March 31, 2014 and 2013. Future minimum time charter revenue, based on vessels committed to noncancelable time charter contracts as of May 8, 2014, is expected to be $12,596 for the remainder of 2014, assuming off-hire due to any scheduled drydocking and that no additional off-hire time is incurred. For drydockings, the Company assumes twenty days of offhire. Future minimum revenue excludes revenue earned for the vessels currently in pool arrangements and vessels that are currently on or will be on spot market-related time charters, as spot rates cannot be estimated, as well as profit sharing revenue.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2014
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	19 - COMMITMENTS AND CONTINGENCIES

	In September 2005, the Company entered into a 15-year lease for office space in New York, New York for which there was a free rental period from September 1, 2005 to July 31, 2006. On January 6, 2012, the Company ceased the use of this space. During the three months ended March 31, 2014 and 2013, net rent expense of $0 and $109, respectively, was recorded representing the present value of the Company’s estimating remaining rent expense for the duration of the lease after taking into account estimated future sublease income based on the sublease agreement entered into effective November 1, 2013. The current lease obligations related to this lease agreement as of March 31, 2014 and December 31, 2013 of $168 and $176, respectively, are recorded in the condensed consolidated balance sheet in Current portion of lease obligations. The long-term lease obligations related to this lease agreement as of March 31, 2014 and December 31, 2013 of $708 and $744, respectively, are recorded in the condensed consolidated balance sheet in Long-term lease obligations.

	Future minimum rental payments on the above lease for the next five years and thereafter are as follows: $388 for the remainder of 2014, $518 for 2015, $529 for 2016, $550 annually for 2017 and 2018 and a total of $1,421 for the remaining term of the lease. The rental payments will be offset by the contract sublease income, as follows: $255 for 2014; $340 annually for 2015 through 2016, $347 for 2017, $380 for 2018 and a total of $983 for the remaining term of the sublease.

	Effective April 4, 2011, the Company entered into a seven-year sub-sublease agreement for additional office space in New York, New York. The term of the sub-sublease commenced June 1, 2011, with a free base rental period until October 31, 2011. Following the expiration of the free base rental period, the monthly base rental payments are $82 per month until May 31, 2015 and thereafter will be $90 per month until the end of the seven-year term. Pursuant to the sub-sublease agreement, the sublessor was obligated to contribute $472 toward the cost of the Company’s alterations to the sub-subleased office space. The Company has also entered into a direct lease with the over-landlord of such office space that will commence immediately upon the expiration of such sub-sublease agreement, for a term covering the period from May 1, 2018 to September 30, 2025; the direct lease provides for a free base rental period from May 1, 2018 to September 30, 2018. Following the expiration of the free base rental period, the monthly base rental payments will be $186 per month from October 1, 2018 to April 30, 2023 and $204 per month from May 1, 2023 to September 30, 2025. For accounting purposes, the sub-sublease agreement and direct lease agreement with the landlord constitutes one lease agreement. As a result of the straight-line rent calculation generated by the free rent period and the tenant work credit, the monthly straight-line rental expense for the term of the entire lease from June 1, 2011 to September 30, 2025 will be $130. The Company had a long-term lease obligation at March 31, 2014 and December 31, 2013 of $2,514 and $2,370, respectively. Rent expense pertaining to this lease for the three months ended March 31, 2014 and 2013 was $389 during both periods.

	Future minimum rental payments on the above lease for the next five years and thereafter are as follows: $736 for the remainder of 2014, $1,037 for 2015, $1,076 annually for 2016 and 2017, $916 for 2018 and a total of $15,590 for the remaining term of the lease.

NONVESTED_STOCK_AWARDS

NONVESTED STOCK AWARDS	3 Months Ended
	Mar. 31, 2014
NONVESTED STOCK AWARDS	'
NONVESTED STOCK AWARDS	'
	20 - NONVESTED STOCK AWARDS

	The table below summarizes the Company’s nonvested stock awards for the three months ended March 31, 2014 under the Genco Shipping & Trading Limited 2005 and 2012 Equity Incentive Plans (the “GS&T Plans”):

		Number of		Weighted
		Shares		Average Grant
				Date Price
	Outstanding at January 1, 2014	880,465		$	7.77
	Granted	—		—
	Vested	—		—
	Forfeited	—		—

	Outstanding at March 31, 2014	880,465		$	7.77

	There were no shares that vested under the GS&T Plans during the three months ended March 31, 2014 and 2013.

	For the three months ended March 31, 2014 and 2013, the Company recognized nonvested stock amortization expense for the GS&T Plans, which is included in general, administrative and management fees, as follows:

		Three Months Ended
		March 31,
		2014			2013
	General, administrative and management fees	$	427		$	769


	The fair value of nonvested stock at the grant date is equal to the closing stock price on that date. The Company is amortizing these grants over the applicable vesting periods, net of anticipated forfeitures. As of March 31, 2014, unrecognized compensation cost of $1,975 related to nonvested stock will be recognized over a weighted-average period of 1.92 years.

	On March 13, 2014, Baltic Trading’s Board of Directors approved an amendment to the Baltic Trading Limited 2010 Equity Incentive Plan (the “Baltic Trading Plan”) that increased the aggregate number of shares of common stock available for awards from 2,000,000 to 6,000,000 shares. Additionally, on April 9, 2014, at Baltic Trading’s 2014 Annual Meeting of Shareholders, Baltic Trading’s shareholders approved the amendment to the Baltic Trading Plan.

	The following table presents a summary of Baltic Trading’s nonvested stock awards for the three months ended March 31, 2014 under the Baltic Trading Plan:

		Number of Baltic		Weighted
		Trading		Average Grant
		Common		Date Price
		Shares
	Outstanding at January 1, 2014	1,381,429		$	6.03
	Granted	—		—
	Vested	(116,500	)	14
	Forfeited	—		—

	Outstanding at March 31, 2014	1,264,929		$	5.29

	The total fair value of shares that vested under the Baltic Trading Plan during the three months ended March 31, 2014 and 2013 was $774 and $454, respectively. The total fair value is calculated as the number of shares vested during the period multiplied by the fair value on the vesting date.

	For the three months ended March 31, 2014 and 2013, the Company recognized nonvested stock amortization expense for the Baltic Trading Plan, which is included in general, administrative and management fees, as follows:

		Three Months Ended
		March 31,
		2014			2013
	General, administrative and management fees	$	963		$	464


	The Company is amortizing Baltic Trading’s grants over the applicable vesting periods, net of anticipated forfeitures. As of March 31, 2014, unrecognized compensation cost of $4,971 related to nonvested stock will be recognized over a weighted-average period of 3.17 years.

SHARE_REPURCHASE_PROGRAM

SHARE REPURCHASE PROGRAM	3 Months Ended
SHARE REPURCHASE PROGRAM	Mar. 31, 2014
SHARE REPURCHASE PROGRAM	'
SHARE REPURCHASE PROGRAM	'
	21 - SHARE REPURCHASE PROGRAM

	Since the inception of its share repurchase program through March 31, 2014, the Company has repurchased and retired 278,300 shares of its common stock for $11,500. Currently, the terms of the 2007 Credit Facility require the Company to suspend all share repurchases until the Company can represent that it is in a position to again satisfy the collateral maintenance covenant. No share repurchases were made during the three months ended March 31, 2014 and 2013.

LEGAL_PROCEEDINGS

LEGAL PROCEEDINGS	3 Months Ended
LEGAL PROCEEDINGS	Mar. 31, 2014
LEGAL PROCEEDINGS	'
LEGAL PROCEEDINGS	'
	22 - LEGAL PROCEEDINGS

	Refer to Note 1 — General Information for information concerning the Chapter 11 Cases.

	On March 28, 2014, the Genco Auvergne was arrested due to a disputed claim with the charterer of one of the Company’s other vessels, namely the Genco Ardennes. In order for the Company to release the Genco Auvergne from its arrest, the Company entered into a cash collateralized $900 bank guarantee with Skandinaviska Enskilda Banken AB (the “SEB Bank Guarantee”) on April 3, 2014. The vessel has since been released from its arrest and the bank guarantee will remain in an escrow account until the arbitration related to this case is completed. The SEB Bank Guarantee resulted in additional indebtedness by the Company. As the Company is currently in default under the covenants of its 2007 Credit Facility due to the default on a scheduled debt amortization payment due on March 31, 2014, on April 3, 2014 the Company received a consent from the lenders under the 2007 Credit Facility to incur this additional indebtedness. Also, under the $253 Million Term Loan Facility for which the Genco Auvergne is collateralized, the Company may not incur additional indebtedness related to its collateralized vessels under this facility. The Company also received a consent from the lenders under the $253 Million Term Loan Facility on April 3, 2014 in order to enter the SEB Bank Guarantee.

	From time to time, the Company may be subject to legal proceedings and claims in the ordinary course of its business, principally personal injury and property casualty claims. Such claims, even if lacking merit, could result in the expenditure of significant financial and managerial resources. The Company is not aware of any legal proceedings or claims that it believes will have, individually or in the aggregate, a material effect on the Company, its financial condition, results of operations or cash flows besides those noted above.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2014
SUBSEQUENT EVENTS	'
SUBSEQUENT EVENTS	'
	23 - SUBSEQUENT EVENTS

	On May 5, 2014, Baltic Trading declared a dividend of $0.01 per share to be paid on or about May 27, 2014 to shareholders of record as of May 20, 2014. The aggregate amount of the dividend is expected to be approximately $576, of which approximately $512 will be paid to minority shareholders, which Baltic Trading anticipates will be funded from cash on hand at the time payment is to be made.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
Principles of consolidation	'
	Principles of consolidation

	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which include the accounts of GS&T, its wholly-owned subsidiaries and Baltic Trading, a subsidiary in which the Company owns a majority of the voting interests and exercises control. All intercompany accounts and transactions have been eliminated in consolidation.
Basis of presentation	'
	Basis of presentation

	The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management of the Company, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and operating results have been included in the statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2013 (the “2013 10-K”). The results of operations for the period ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the full year.
Vessels, net	'
	Vessels, net

	Vessels, net is stated at cost less accumulated depreciation. Included in vessel costs are acquisition costs directly attributable to the acquisition of a vessel and expenditures made to prepare the vessel for its initial voyage. The Company also capitalizes interest costs for a vessel under construction as a cost which is directly attributable to the acquisition of a vessel. Vessels are depreciated on a straight-line basis over their estimated useful lives, determined to be 25 years from the date of initial delivery from the shipyard. Depreciation expense for vessels for the three months ended March 31, 2014 and 2013 was $34,160 and $32,739, respectively.

	Depreciation expense is calculated based on cost less the estimated residual scrap value. The costs of significant replacements, renewals and betterments are capitalized and depreciated over the shorter of the vessel’s remaining estimated useful life or the estimated life of the renewal or betterment. Undepreciated cost of any asset component being replaced that was acquired after the initial vessel purchase is written off as a component of vessel operating expense. Expenditures for routine maintenance and repairs are expensed as incurred. Scrap value is estimated by the Company by taking the estimated scrap value of $245 per lightweight ton (“lwt”) times the weight of the ship in lwt’s.
Deferred revenue	'
	Deferred revenue

	Deferred revenue primarily relates to cash received from charterers prior to it being earned. These amounts are recognized as income when earned. Additionally, deferred revenue includes estimated customer claims mainly due to time charter performance issues. As of March 31, 2014 and December 31, 2013, the Company had an accrual of $579 and $536, respectively, related to these estimated customer claims.
Voyage expense recognition	'
	Voyage expense recognition

	In time charters, spot market-related time charters and pool agreements, operating costs including crews, maintenance and insurance are typically paid by the owner of the vessel and specified voyage costs such as fuel and port charges are paid by the charterer. There are certain other non-specified voyage expenses, such as commissions, which are typically borne by the Company. At the inception of a time charter, the Company records the difference between the cost of bunker fuel delivered by the terminating charterer and the bunker fuel sold to the new charterer as a gain or loss within voyage expenses. These differences in bunkers resulted in net gains of $66 and $364 during the three months ended March 31, 2014 and 2013, respectively. Additionally, voyage expenses include the cost of bunkers consumed during short-term time charters pursuant to the terms of the time charter agreement.
Noncontrolling interest	'
	Noncontrolling interest

	Net loss attributable to noncontrolling interest during the three months ended March 31, 2014 and 2013 reflects the noncontrolling interest’s share of the net loss of Baltic Trading, a subsidiary of the Company, which owns and employs drybulk vessels in the spot market, in vessel pools or on spot market-related time charters. The spot market represents immediate chartering of a vessel, usually for single voyages. At March 31, 2014 and December 31, 2013, the noncontrolling interest held an 88.95% economic interest in Baltic Trading while only holding 34.92% of the voting power.
Income taxes	'
	Income taxes

	Pursuant to certain agreements, GS&T technically and commercially manages vessels for Baltic Trading, as well as provides technical management of vessels for MEP in exchange for specified fees for these services provided. These services are performed by Genco Management (USA) Limited (“Genco (USA)”), which has elected to be taxed as a corporation for United States federal income tax purposes. As such, Genco (USA) is subject to United States federal income tax on its worldwide net income, including the net income derived from providing these services. Genco (USA) has entered into a cost-sharing agreement with the Company and Genco Ship Management LLC, collectively Manco, pursuant to which Genco (USA) agrees to reimburse Manco for the costs incurred by Genco (USA) for the use of Manco’s personnel and services in connection with the provision of the services for both Baltic Trading and MEP’s vessels.

	Total revenue earned for these services during the three months ended March 31, 2014 and 2013 was $1,855 and $1,490, respectively, of which $1,045 and $680, respectively, eliminated upon consolidation. After allocation of certain expenses, there was taxable income of $886 associated with these activities for the three months ended March 31, 2014. This resulted in estimated tax expense of $400 for the three months ended March 31, 2014. After allocation of certain expenses, there was taxable income of $592 associated with these activities for the three months ended March 31, 2013. This resulted in income tax expense of $224 for the three months ended March 31, 2013.

	Baltic Trading is subject to income tax on its United States source income. During the three months ended March 31, 2014, Baltic Trading had United States operations which resulted in United States source income of $567. Baltic Trading’s estimated United States income tax expense for the three months ended March 31, 2014 was $12. During the three months ended March 31, 2013, Baltic Trading did not earn any United States source income, and therefore, there was no income tax expense for the three months ended March 31, 2013.

GENERAL_INFORMATION_Tables

GENERAL INFORMATION (Tables)	3 Months Ended
GENERAL INFORMATION (Tables)	Mar. 31, 2014
GS&T and wholly-owned subsidiaries excluding Baltic Trading Limited	'
General information	'
Schedule of wholly owned ship-owning subsidiaries	'
	Below is the list of GS&T’s wholly owned ship-owning subsidiaries as of March 31, 2014:

	Wholly Owned Subsidiaries	Vessel Acquired	Dwt	Delivery Date	Year Built

	Genco Reliance Limited	Genco Reliance	29,952	12/6/04	1999
	Genco Vigour Limited	Genco Vigour	73,941	12/15/04	1999
	Genco Explorer Limited	Genco Explorer	29,952	12/17/04	1999
	Genco Carrier Limited	Genco Carrier	47,180	12/28/04	1998
	Genco Sugar Limited	Genco Sugar	29,952	12/30/04	1998
	Genco Pioneer Limited	Genco Pioneer	29,952	1/4/05	1999
	Genco Progress Limited	Genco Progress	29,952	1/12/05	1999
	Genco Wisdom Limited	Genco Wisdom	47,180	1/13/05	1997
	Genco Success Limited	Genco Success	47,186	1/31/05	1997
	Genco Beauty Limited	Genco Beauty	73,941	2/7/05	1999
	Genco Knight Limited	Genco Knight	73,941	2/16/05	1999
	Genco Leader Limited	Genco Leader	73,941	2/16/05	1999
	Genco Marine Limited	Genco Marine	45,222	3/29/05	1996
	Genco Prosperity Limited	Genco Prosperity	47,180	4/4/05	1997
	Genco Muse Limited	Genco Muse	48,913	10/14/05	2001
	Genco Acheron Limited	Genco Acheron	72,495	11/7/06	1999
	Genco Surprise Limited	Genco Surprise	72,495	11/17/06	1998
	Genco Augustus Limited	Genco Augustus	180,151	8/17/07	2007
	Genco Tiberius Limited	Genco Tiberius	175,874	8/28/07	2007
	Genco London Limited	Genco London	177,833	9/28/07	2007
	Genco Titus Limited	Genco Titus	177,729	11/15/07	2007
	Genco Challenger Limited	Genco Challenger	28,428	12/14/07	2003
	Genco Charger Limited	Genco Charger	28,398	12/14/07	2005
	Genco Warrior Limited	Genco Warrior	55,435	12/17/07	2005
	Genco Predator Limited	Genco Predator	55,407	12/20/07	2005
	Genco Hunter Limited	Genco Hunter	58,729	12/20/07	2007
	Genco Champion Limited	Genco Champion	28,445	1/2/08	2006
	Genco Constantine Limited	Genco Constantine	180,183	2/21/08	2008
	Genco Raptor LLC	Genco Raptor	76,499	6/23/08	2007
	Genco Cavalier LLC	Genco Cavalier	53,617	7/17/08	2007
	Genco Thunder LLC	Genco Thunder	76,588	9/25/08	2007
	Genco Hadrian Limited	Genco Hadrian	169,694	12/29/08	2008
	Genco Commodus Limited	Genco Commodus	169,025	7/22/09	2009
	Genco Maximus Limited	Genco Maximus	169,025	9/18/09	2009
	Genco Claudius Limited	Genco Claudius	169,025	12/30/09	2010
	Genco Bay Limited	Genco Bay	34,296	8/24/10	2010
	Genco Ocean Limited	Genco Ocean	34,409	7/26/10	2010
	Genco Avra Limited	Genco Avra	34,391	5/12/11	2011
	Genco Mare Limited	Genco Mare	34,428	7/20/11	2011
	Genco Spirit Limited	Genco Spirit	34,432	11/10/11	2011
	Genco Aquitaine Limited	Genco Aquitaine	57,981	8/18/10	2009
	Genco Ardennes Limited	Genco Ardennes	57,981	8/31/10	2009
	Genco Auvergne Limited	Genco Auvergne	57,981	8/16/10	2009

	Genco Bourgogne Limited	Genco Bourgogne	57,981	8/24/10	2010
	Genco Brittany Limited	Genco Brittany	57,981	9/23/10	2010
	Genco Languedoc Limited	Genco Languedoc	57,981	9/29/10	2010
	Genco Loire Limited	Genco Loire	53,416	8/4/10	2009
	Genco Lorraine Limited	Genco Lorraine	53,416	7/29/10	2009
	Genco Normandy Limited	Genco Normandy	53,596	8/10/10	2007
	Genco Picardy Limited	Genco Picardy	55,257	8/16/10	2005
	Genco Provence Limited	Genco Provence	55,317	8/23/10	2004
	Genco Pyrenees Limited	Genco Pyrenees	57,981	8/10/10	2010
	Genco Rhone Limited	Genco Rhone	58,018	3/29/11	2011
Baltic Trading Limited	'
General information	'
Schedule of wholly owned ship-owning subsidiaries	'
	Below is the list of Baltic Trading’s wholly owned ship-owning subsidiaries as of March 31, 2014:

	Baltic Trading’s Wholly Owned	Vessel Acquired	Dwt	Delivery Date	Year
	Subsidiaries	Vessel Acquired	Dwt	Delivery Date	Built

	Baltic Leopard Limited	Baltic Leopard	53,447	4/8/10	2009
	Baltic Panther Limited	Baltic Panther	53,351	4/29/10	2009
	Baltic Cougar Limited	Baltic Cougar	53,432	5/28/10	2009
	Baltic Jaguar Limited	Baltic Jaguar	53,474	5/14/10	2009
	Baltic Bear Limited	Baltic Bear	177,717	5/14/10	2010
	Baltic Wolf Limited	Baltic Wolf	177,752	10/14/10	2010
	Baltic Wind Limited	Baltic Wind	34,409	8/4/10	2009
	Baltic Cove Limited	Baltic Cove	34,403	8/23/10	2010
	Baltic Breeze Limited	Baltic Breeze	34,386	10/12/10	2010
	Baltic Fox Limited	Baltic Fox	31,883	9/6/13	2010
	Baltic Hare Limited	Baltic Hare	31,887	9/5/13	2009
	Baltic Lion Limited	Baltic Lion	179,185	12/27/13	2012
	Baltic Tiger Limited	Baltic Tiger	179,185	11/26/13	2011
	Baltic Hornet Limited	Baltic Hornet	64,000	Q3 2014 (1)	2014 (1)
	Baltic Wasp Limited	Baltic Wasp	64,000	Q4 2014 (1)	2014 (1)
	Baltic Scorpion Limited	Baltic Scorpion	64,000	Q2 2015 (1)	2015 (1)
	Baltic Mantis Limited	Baltic Mantis	64,000	Q3 2015 (1)	2015 (1)


	(1) Built dates and dates for vessels being delivered in the future are estimates based on the guidance received from the sellers and the respective shipyards.

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2014
SEGMENT INFORMATION	'
Reconciliation of Segment total voyage revenue to total consolidated voyage revenue from external customers	'


		For the Three Months Ended
		March 31,
		2014			2013
	Voyage Revenue from External Customers
	GS&T	$	50,089		$	33,690
	Baltic Trading	13,091			5,986
	Total operating segments	63,180			39,676
	Eliminating revenue	—			—
	Total consolidated voyage revenue from external customers	$	63,180		$	39,676
Reconciliation of total intersegment revenue	'


		For the Three Months Ended
		March 31,
		2014			2013
	Intersegment revenue
	GS&T	$	1,045		$	680
	Baltic Trading	—			—
	Total operating segments	1,045			680
	Eliminating revenue	(1,045		)	(680		)
	Total consolidated intersegment revenue	$	—		$	—
Reconciliation of Segment total net loss to total consolidated net loss	'


		For the Three Months Ended
		March 31,
		2014			2013
	Net loss
	GS&T	$	(38,569	)	$	(46,848	)
	Baltic Trading	(3,533		)	(5,083		)
	Total operating segments	(42,102		)	(51,931		)
	Eliminating net loss	136			19
	Total consolidated net loss	$	(42,238	)	$	(51,950	)
Reconciliation of Segment total assets to total consolidated assets	'


		March 31, 2014			December 31,
					2013
	Total assets
	GS&T	$	2,353,364		$	2,404,811
	Baltic Trading	553,564			557,367
	Total operating segments	2,906,928			2,962,178
	Eliminating assets	(4,744		)	(4,924		)
	Total consolidated assets	$	2,902,184		$	2,957,254

NET_LOSS_PER_COMMON_SHARE_Tabl

NET LOSS PER COMMON SHARE (Tables)	3 Months Ended
NET LOSS PER COMMON SHARE (Tables)	Mar. 31, 2014
NET LOSS PER COMMON SHARE	'
Reconciliation of the net loss attributable to GS&T and the net loss attributable to GS&T for diluted net loss per share	'


		Three Months Ended
		March 31,
		2014		2013

	Common shares outstanding, basic:
	Weighted-average common shares outstanding, basic	43,568,942		43,161,510

	Common shares outstanding, diluted:
	Weighted-average common shares outstanding, basic	43,568,942		43,161,510

	Dilutive effect of convertible notes	—		—

	Dilutive effect of restricted stock awards	—		—

	Weighted-average common shares outstanding, diluted	43,568,942		43,161,510
Reconciliation of net loss attributable to GS&T and net loss attributable to GS&T for diluted net loss per share	'


		Three Months Ended
		March 31,
		2014			2013

	Net loss attributable to GS&T	$	(39,105	)	$	(48,163	)

	Interest expense related to convertible notes, if dilutive	—			—

	Net loss attributable to GS&T for the computation of diluted net loss per share	$	(39,105	)	$	(48,163	)

DEBT_Tables

DEBT (Tables)	3 Months Ended
DEBT (Tables)	Mar. 31, 2014
DEBT	'
Schedule of long-term debt	'


		March 31, 2014			December 31, 2013

	2007 Credit Facility	$	1,055,912		$	1,055,912
	$100 Million Term Loan Facility	73,561			75,484
	$253 Million Term Loan Facility	175,718			180,793
	2010 Baltic Trading Credit Facility	102,250			102,250
	Baltic Trading $22 Million Term Loan Facility	21,250			21,625
	Baltic Trading $44 Million Term Loan Facility	43,313			44,000
	Less: Current portion	(1,309,441		)	(1,316,439		)

	Long-term debt	$	162,563		$	163,625
Schedule of effective interest rate and the range of interest rates on the debt	'


		Three Months Ended March 31,
		2014		2013
	Effective Interest Rate	4.35	%	4.73	%
	Range of Interest Rates (excluding impact of swaps and unused commitment fees)	3.15% to 4.25	%	3.20% to 4.38	%

CONVERTIBLE_SENIOR_NOTES_Table

CONVERTIBLE SENIOR NOTES (Tables)	3 Months Ended
	Mar. 31, 2014
CONVERTIBLE SENIOR NOTES	'
Schedule of carrying amounts of the liability and equity components of the convertible notes	'


		March 31, 2014			December 31,
					2013
	Carrying amount of the equity component (additional paid-in capital)	$	24,375		$	24,375
	Principal amount of the 2010 Notes	125,000			125,000
	Unamortized discount of the liability component	7,820			9,119
	Net carrying amount of the liability component	117,180			115,881

Schedule of effective interest rate, cash and non-cash interest expense and deferred financing cost amortization	'

		Three Months Ended
		March 31,
		2014			2013
	Effective interest rate on liability component	10		%	10		%
	Cash interest expense recognized	$	1,541		$	1,541
	Non-cash interest expense recognized	1,299			1,179
	Non-cash deferred financing amortization costs included in interest expense	177			177

INTEREST_RATE_SWAP_AGREEMENTS_

INTEREST RATE SWAP AGREEMENTS (Tables)

3 Months Ended

Mar. 31, 2014

INTEREST RATE SWAP AGREEMENTS

Schedule of interest rate swaps designated as cash flow hedges

March 31, 2014

December 31,

2013

Interest Rate Swap Detail

Notional

Trade

Fixed

Start Date

End date

Amount

Date

Rate

of Swap

Outstanding

9/6/05

4.485

9/14/05

7/29/15

106,233

3/29/06

5.25

1/2/07

1/1/14

—

50,000

1/9/09

2.05

1/22/09

1/22/14

—

100,000

2/11/09

2.45

2/23/09

2/23/14

—

50,000

106,233

306,233

Schedule of derivative asset and liability balances

Asset Derivatives

Liability Derivatives

Balance

Fair Value

Balance

Fair Value

Sheet

March 31,

December

Sheet

March 31,

December

Location

2014

31, 2013

Location

2014

31, 2013

Derivatives designated as hedging instruments

Interest rate contracts

Fair value of derivative instruments (Current Assets)

—

Fair value of derivative instruments (Current Liabilities)

5,747

6,975

Interest rate contracts

Fair value of derivative instruments (Noncurrent Assets)

—

Fair value of derivative instruments (Noncurrent Liabilities)

—

Total derivatives designated as hedging instruments

—

5,747

6,975

Total Derivatives

—

5,747

6,975

Schedule of the impact of derivative instruments and their location within the Condensed Consolidated Statement of Operations

The Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations

For the Three-Month Period Ended March 31, 2014

Derivatives in Cash

Amount of

Location of

Amount of

Location of

Amount of

Flow Hedging

Gain (Loss)

Recognized

Reclassified

Recognized in

in AOCI on

from AOCI

Income on

Derivative

into income

Derivative

(Effective

(Ineffective

Portion)

Relationships

2014

Portion)

2014

Portion)

2014

Interest rate contracts

(179

)

Interest Expense

(1,407

)

Other Income (Expense)

—

The Effect of Derivative Instruments on the Condensed Consolidated Statement of Operations

For the Three-Month Period Ended March 31, 2013

Derivatives in Cash

Amount of

Location of

Amount of

Location of

Amount of

Flow Hedging

Gain (Loss)

Recognized

Reclassified

Recognized in

in AOCI on

from AOCI

Income on

Derivative

into income

Derivative

(Effective

(Ineffective

Portion)

Relationships

2013

Portion)

2013

Portion)

2013

Interest rate contracts

(138

)

Interest Expense

(2,439

)

Other Income (Expense)

)

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	'
Schedule of components of AOCI included in the accompanying condensed consolidated balance sheets	'
	Changes in AOCI by Component
	For the Three-Month Period Ended March 31, 2014

		Net Unrealized			Net Unrealized			Total
		Gain (Loss) on			Gain
		Cash Flow			on
		Hedges			Investments
	AOCI — January 1, 2014	$	(6,976	)	$	60,698		$	53,722

	OCI before reclassifications	2,635			(14,215		)	(11,580		)
	Amounts reclassified from AOCI	(1,407		)	—			(1,407		)
	Net current-period OCI	1,228			(14,215		)	(12,987		)

	AOCI — March 31, 2014	$	(5,748	)	$	46,483		$	40,735
Reclassifications Out of AOCI	'
	Reclassifications Out of AOCI
	For the Three-Month Period Ended March 31, 2014

		Amount Reclassified from AOCI
		Three Months Ended						Affected Line Item in
		March 31,						the Statement Where
	Details about AOCI Components	2014			2013			Net Loss is Presented
	Gains and losses on cash flow hedges
	Interest rate contracts	$	1,407		$	2,439		Interest expense

	Total reclassifications for the period	$	1,407		$	2,439

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
Schedule of fair values of the Company's financial instruments	'


		March 31, 2014						December 31, 2013
		Carrying			Fair Value			Carrying			Fair Value
		Value						Value
	Cash and cash equivalents	$	92,408		$	92,408		$	122,722		$	122,722
	Restricted cash	10,275			10,275			10,150			10,150
	Floating rate debt	1,472,004			See Below			1,480,064			See Below
	2010 Notes	117,180			102,116			115,881			63,438

Schedule of fair values of the Company's financial assets and liabilities	'


		March 31, 2014
		Total				Quoted				Significant
						Market				Other
						Prices in				Observable
						Active				Inputs
						Markets				(Level 2)
						(Level 1)
	Investments	$		63,355		$		63,355		$		—
	Derivative instruments — liability position	5,747				—				5,747

		December 31, 2013
		Total				Quoted				Significant
						Market				Other
						Prices in				Observable
						Active				Inputs
						Markets				(Level 2)
						(Level 1)
	Investments	$	77,570			$	77,570			$	—
	Derivative instruments — liability position	6,975				—				6,975

PREPAID_EXPENSES_AND_OTHER_CUR1

PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2014
PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS	'
Schedule of prepaid expenses and other current assets	'


		March 31, 2014		December
				31, 2013
	Lubricant inventory, fuel oil and diesel oil inventory and other stores	$	10,247	$	11,342
	Prepaid items	7,596		5,000
	Insurance receivable	844		1,096
	Other	7,588		1,627
	Total prepaid expenses and other current assets	$	26,275	$	19,065

DEFERRED_FINANCING_COSTS_Table

DEFERRED FINANCING COSTS (Tables)	3 Months Ended
	Mar. 31, 2014
DEFERRED FINANCING COSTS	'
Schedule of deferred financing costs	'


		March 31, 2014		December
				31, 2013

	2007 Credit Facility	$	29,568	$	29,568
	$100 Million Term Loan Facility	1,856		1,783
	$253 Million Term Loan Facility	4,884		4,708
	2010 Notes	3,637		3,637
	2010 Baltic Trading Credit Facility	3,339		3,339
	Baltic Trading $22 Million Term Loan Facility	529		518
	Baltic Trading $44 Million Term Loan Facility	739		737
	Total deferred financing costs	44,552		44,290
	Less: accumulated amortization	24,498		22,279
	Total	$	20,054	$	22,011

FIXED_ASSETS_Tables

FIXED ASSETS (Tables)	3 Months Ended
	Mar. 31, 2014
FIXED ASSETS	'
Schedule of fixed assets	'


		March 31, 2014		December
				31, 2013
	Fixed assets, at cost:
	Vessel equipment	$	3,576	$	4,323
	Leasehold improvements	2,679		2,679
	Furniture and fixtures	786		786
	Computer equipment	794		754
	Total costs	7,835		8,542
	Less: accumulated depreciation and amortization	3,653		3,438
	Total	$	4,182	$	5,104

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2014
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
Schedule of accounts payable and accrued expenses	'


		March 31, 2014		December
				31, 2013
	Accounts payable	$	9,958	$	5,643
	Accrued general and administrative expenses	11,127		8,960
	Accrued vessel operating expenses	14,520		12,756
	Total	$	35,605	$	27,359

NONVESTED_STOCK_AWARDS_Tables

NONVESTED STOCK AWARDS (Tables)	3 Months Ended
	Mar. 31, 2014
2005 and 2012 GS&T Plans	'
Nonvested Stock Awards	'
Summary of nonvested stock awards	'


		Number of		Weighted
		Shares		Average Grant
				Date Price
	Outstanding at January 1, 2014	880,465		$	7.77
	Granted	—		—
	Vested	—		—
	Forfeited	—		—

	Outstanding at March 31, 2014	880,465		$	7.77
Schedule of nonvested stock amortization expense	'


		Three Months Ended
		March 31,
		2014			2013
	General, administrative and management fees	$	427		$	769

Baltic Trading Plan	'
Nonvested Stock Awards	'
Summary of nonvested stock awards	'


		Number of Baltic		Weighted
		Trading		Average Grant
		Common		Date Price
		Shares
	Outstanding at January 1, 2014	1,381,429		$	6.03
	Granted	—		—
	Vested	(116,500	)	14
	Forfeited	—		—

	Outstanding at March 31, 2014	1,264,929		$	5.29
Schedule of nonvested stock amortization expense	'


		Three Months Ended
		March 31,
		2014			2013
	General, administrative and management fees	$	963		$	464

GENERAL_INFORMATION_Details

GENERAL INFORMATION (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Aug. 20, 2010

Mar. 31, 2014

Dec. 31, 2013

Aug. 12, 2010

Apr. 21, 2014

In Thousands, unless otherwise specified

5.00% convertible senior notes

2007 Credit Facility

$253 Million Term Loan Facility

$100 Million Term Loan Facility

Subsequent Event

GS&T and wholly-owned subsidiaries excluding Baltic Trading Limited

Chapter 11

Interest rate swap

5.00% convertible senior notes

2007 Credit Facility

$253 Million Term Loan Facility

$100 Million Term Loan Facility

Chapter 11 Cases

Outstanding amount of credit facility

$1,055,912

$175,718

$180,793

$73,561

$75,484

$1,055,912

$175,718

$73,561

Maximum borrowing capacity

1,055,912

253,000

100,000

Principal amount of the 2010 Notes

125,000

Interest rate on convertible notes (as a percent)

5.00%

Outstanding amount of derivatives

$5,747

GENERAL_INFORMATION_Details_2

GENERAL INFORMATION (Details 2)	Mar. 31, 2014
GENERAL INFORMATION (Details 2)	item
Genco Reliance Limited \| Genco Reliance	'
Vessels	'
Capacity of vessels	29,952
Genco Vigour Limited \| Genco Vigour	'
Vessels	'
Capacity of vessels	73,941
Genco Explorer Limited \| Genco Explorer	'
Vessels	'
Capacity of vessels	29,952
Genco Carrier Limited \| Genco Carrier	'
Vessels	'
Capacity of vessels	47,180
Genco Sugar Limited \| Genco Sugar	'
Vessels	'
Capacity of vessels	29,952
Genco Pioneer Limited \| Genco Pioneer	'
Vessels	'
Capacity of vessels	29,952
Genco Progress Limited \| Genco Progress	'
Vessels	'
Capacity of vessels	29,952
Genco Wisdom Limited \| Genco Wisdom	'
Vessels	'
Capacity of vessels	47,180
Genco Success Limited \| Genco Success	'
Vessels	'
Capacity of vessels	47,186
Genco Beauty Limited \| Genco Beauty	'
Vessels	'
Capacity of vessels	73,941
Genco Knight Limited \| Genco Knight	'
Vessels	'
Capacity of vessels	73,941
Genco Leader Limited \| Genco Leader	'
Vessels	'
Capacity of vessels	73,941
Genco Marine Limited \| Genco Marine	'
Vessels	'
Capacity of vessels	45,222
Genco Prosperity Limited \| Genco Prosperity	'
Vessels	'
Capacity of vessels	47,180
Genco Muse Limited \| Genco Muse	'
Vessels	'
Capacity of vessels	48,913
Genco Acheron Limited \| Genco Acheron	'
Vessels	'
Capacity of vessels	72,495
Genco Surprise Limited \| Genco Surprise	'
Vessels	'
Capacity of vessels	72,495
Genco Augustus Limited \| Genco Augustus	'
Vessels	'
Capacity of vessels	180,151
Genco Tiberius Limited \| Genco Tiberius	'
Vessels	'
Capacity of vessels	175,874
Genco London Limited \| Genco London	'
Vessels	'
Capacity of vessels	177,833
Genco Titus Limited \| Genco Titus	'
Vessels	'
Capacity of vessels	177,729
Genco Challenger Limited \| Genco Challenger	'
Vessels	'
Capacity of vessels	28,428
Genco Charger Limited \| Genco Charger	'
Vessels	'
Capacity of vessels	28,398
Genco Warrior Limited \| Genco Warrior	'
Vessels	'
Capacity of vessels	55,435
Genco Predator Limited \| Genco Predator	'
Vessels	'
Capacity of vessels	55,407
Genco Hunter Limited \| Genco Hunter	'
Vessels	'
Capacity of vessels	58,729
Genco Champion Limited \| Genco Champion	'
Vessels	'
Capacity of vessels	28,445
Genco Constantine Limited \| Genco Constantine	'
Vessels	'
Capacity of vessels	180,183
Genco Raptor LLC \| Genco Raptor	'
Vessels	'
Capacity of vessels	76,499
Genco Cavalier LLC \| Genco Cavalier	'
Vessels	'
Capacity of vessels	53,617
Genco Thunder LLC \| Genco Thunder	'
Vessels	'
Capacity of vessels	76,588
Genco Hadrian Limited \| Genco Hadrian	'
Vessels	'
Capacity of vessels	169,694
Genco Commodus Limited \| Genco Commodus	'
Vessels	'
Capacity of vessels	169,025
Genco Maximus Limited \| Genco Maximus	'
Vessels	'
Capacity of vessels	169,025
Genco Claudius Limited \| Genco Claudius	'
Vessels	'
Capacity of vessels	169,025
Genco Bay Limited \| Genco Bay	'
Vessels	'
Capacity of vessels	34,296
Genco Ocean Limited \| Genco Ocean	'
Vessels	'
Capacity of vessels	34,409
Genco Avra Limited \| Genco Avra	'
Vessels	'
Capacity of vessels	34,391
Genco Mare Limited \| Genco Mare	'
Vessels	'
Capacity of vessels	34,428
Genco Spirit Limited \| Genco Spirit	'
Vessels	'
Capacity of vessels	34,432
Genco Aquitaine Limited \| Genco Aquitaine	'
Vessels	'
Capacity of vessels	57,981
Genco Ardennes Limited \| Genco Ardennes	'
Vessels	'
Capacity of vessels	57,981
Genco Auvergne Limited \| Genco Auvergne	'
Vessels	'
Capacity of vessels	57,981
Genco Bourgogne Limited \| Genco Bourgogne	'
Vessels	'
Capacity of vessels	57,981
Genco Brittany Limited \| Genco Brittany	'
Vessels	'
Capacity of vessels	57,981
Genco Languedoc Limited \| Genco Languedoc	'
Vessels	'
Capacity of vessels	57,981
Genco Loire Limited \| Genco Loire	'
Vessels	'
Capacity of vessels	53,416
Genco Lorraine Limited \| Genco Lorraine	'
Vessels	'
Capacity of vessels	53,416
Genco Normandy Limited \| Genco Normandy	'
Vessels	'
Capacity of vessels	53,596
Genco Picardy Limited \| Genco Picardy	'
Vessels	'
Capacity of vessels	55,257
Genco Provence Limited \| Genco Provence	'
Vessels	'
Capacity of vessels	55,317
Genco Pyrenees Limited \| Genco Pyrenees	'
Vessels	'
Capacity of vessels	57,981
Genco Rhone Limited \| Genco Rhone	'
Vessels	'
Capacity of vessels	58,018
Baltic Leopard Limited \| Baltic Leopard	'
Vessels	'
Capacity of vessels	53,447
Baltic Panther Limited \| Baltic Panther	'
Vessels	'
Capacity of vessels	53,351
Baltic Cougar Limited \| Baltic Cougar	'
Vessels	'
Capacity of vessels	53,432
Baltic Jaguar Limited \| Baltic Jaguar	'
Vessels	'
Capacity of vessels	53,474
Baltic Bear Limited \| Baltic Bear	'
Vessels	'
Capacity of vessels	177,717
Baltic Wolf Limited \| Baltic Wolf	'
Vessels	'
Capacity of vessels	177,752
Baltic Wind Limited \| Baltic Wind	'
Vessels	'
Capacity of vessels	34,409
Baltic Cove Limited \| Baltic Cove	'
Vessels	'
Capacity of vessels	34,403
Baltic Breeze Limited \| Baltic Breeze	'
Vessels	'
Capacity of vessels	34,386
Baltic Fox Limited \| Baltic Fox	'
Vessels	'
Capacity of vessels	31,883
Baltic Hare Limited \| Baltic Hare	'
Vessels	'
Capacity of vessels	31,887
Baltic Lion Limited \| Baltic Lion	'
Vessels	'
Capacity of vessels	179,185
Baltic Tiger Limited \| Baltic Tiger	'
Vessels	'
Capacity of vessels	179,185
Baltic Hornet Limited \| Baltic Hornet	'
Vessels	'
Capacity of vessels	64,000
Baltic Wasp Limited \| Baltic Wasp	'
Vessels	'
Capacity of vessels	64,000
Baltic Scorpion Limited \| Baltic Scorpion	'
Vessels	'
Capacity of vessels	64,000
Baltic Mantis Limited \| Baltic Mantis	'
Vessels	'
Capacity of vessels	64,000

GENERAL_INFORMATION_Details_3

GENERAL INFORMATION (Details 3) (USD $)	3 Months Ended
GENERAL INFORMATION (Details 3) (USD $)	Mar. 31, 2014	Dec. 31, 2013
5.00% convertible senior notes	'	'
General information	'	'
Interest rate on convertible notes (as a percent)	5.00%	'
MEP	'	'
General information	'	'
Technical services fee per ship per day	750	'
Initial term of provision of technical service	'1 year	'
Notice period for cancellation of provision of technical services	'60 days	'
Period for termination fee upon change of control	'1 year	'
Notice period for cancellation of provision of technical services by company	'60 days	'
Genco Investment LLC \| Baltic Trading Limited	'	'
General information	'	'
Ownership interest held (as a percent)	11.05%	11.05%
Aggregate voting power held (as a percent)	65.08%	65.08%
Genco Investment LLC \| Baltic Trading Limited \| Minimum	'	'
General information	'	'
Ownership interest held (as a percent)	10.00%	'
Genco Investment LLC \| Baltic Trading Limited \| Class B stock	'	'
General information	'	'
Number of shares owned by Genco Investment LLC (in shares)	6,356,471	6,356,471
Percentage of additional shares to be received by Genco Investment LLC (as a percent)	2.00%	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Maritime Equipment	Maritime Equipment
Vessels, net	'	'	'	'
Estimated useful life	'	'	'25 years	'
Depreciation expense	'	'	$34,160	$32,739
Estimated scrap value (in dollars per lightweight ton)	'	'	245	'
Deferred revenue	'	'	'	'
Accrual related to estimated customer claims	$579	$536	'	'

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Voyage expense recognition	'	'
Net gains on purchase and sale of bunker fuel	$66	$364

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (Baltic Trading Limited)	Mar. 31, 2014	Dec. 31, 2013
Baltic Trading Limited	'	'
Noncontrolling interest	'	'
Economic interest held by noncontrolling interest (as a percent)	88.95%	88.95%
Voting power (as a percent)	34.92%	34.92%

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Taxes	'	'
Total revenue earned	$810	$810
Taxable income	-41,826	-51,726
Income tax expense	412	224
Vessel Management Services	'	'
Income Taxes	'	'
Total revenue earned	1,855	1,490
Taxable income	886	592
Income tax expense	400	224
Baltic Trading \| United States	'	'
Income Taxes	'	'
Taxable income	567	'
Income tax expense	12	0
Intersegment Elimination \| Vessel Management Services	'	'
Income Taxes	'	'
Total revenue earned	$1,045	$680

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
	item	Mar. 31, 2013	Dec. 31, 2013
SEGMENT INFORMATION	'	'	'
Number of reportable segments	2	'	'
Number of operating segments	2	'	'
Voyage Revenue from External Customers	'	'	'
Total consolidated voyage revenue from external customers	$63,180	$39,676	'
Intersegment revenue	'	'	'
Total consolidated intersegment revenue	810	810	'
Net loss	'	'	'
Total consolidated net loss	-42,238	-51,950	'
Total assets	'	'	'
Total consolidated assets	2,902,184	'	2,957,254
Operating Segments	'	'	'
Voyage Revenue from External Customers	'	'	'
Total consolidated voyage revenue from external customers	63,180	39,676	'
Net loss	'	'	'
Total consolidated net loss	-42,102	-51,931	'
Total assets	'	'	'
Total consolidated assets	2,906,928	'	2,962,178
Operating Segments \| Intersegment Revenue	'	'	'
Intersegment revenue	'	'	'
Total consolidated intersegment revenue	1,045	680	'
GS&T	'	'	'
Voyage Revenue from External Customers	'	'	'
Total consolidated voyage revenue from external customers	50,089	33,690	'
Net loss	'	'	'
Total consolidated net loss	-38,569	-46,848	'
Total assets	'	'	'
Total consolidated assets	2,353,364	'	2,404,811
GS&T \| Intersegment Revenue	'	'	'
Intersegment revenue	'	'	'
Total consolidated intersegment revenue	1,045	680	'
Baltic Trading	'	'	'
Voyage Revenue from External Customers	'	'	'
Total consolidated voyage revenue from external customers	13,091	5,986	'
Net loss	'	'	'
Total consolidated net loss	-3,533	-5,083	'
Total assets	'	'	'
Total consolidated assets	553,564	'	557,367
Intersegment Elimination	'	'	'
Net loss	'	'	'
Total consolidated net loss	136	19	'
Total assets	'	'	'
Total consolidated assets	-4,744	'	-4,924
Intersegment Elimination \| Intersegment Revenue	'	'	'
Intersegment revenue	'	'	'
Total consolidated intersegment revenue	($1,045)	($680)	'

CASH_FLOW_INFORMATION_Details

CASH FLOW INFORMATION (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	item	item
CASH FLOW INFORMATION	'	'
Number of interest rate swaps	1	4
Derivative asset and liability balances	'	'
Fair value of interest rate swaps in a liability position (Current Liabilities)	$5,747	$6,975

CASH_FLOW_INFORMATION_Details_

CASH FLOW INFORMATION (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Non-cash investing and financing activities	'	'	'
Non-cash investing activities purchase of vessels, including deposits	$213	$27	'
Non-cash investing activities purchase of other fixed assets	145	48	'
Non-cash financing activities common stock issuance costs	5	'	'
Cash paid for interest	14,163	20,795	'
Cash paid for estimated income taxes	1,072	103	'
Fixed assets	4,182	'	5,104
Reclassification	'	'	'
Non-cash investing and financing activities	'	'	'
Fixed assets	-984	'	'
Vessel assets	984	'	'
Accounts Payable and Accrued Expenses	'	'	'
Non-cash investing and financing activities	'	'	'
Non-cash financing activities deferred financing costs	253	'	'
Current Interest Payable	'	'	'
Non-cash investing and financing activities	'	'	'
Non-cash financing activities deferred financing costs	$13,199	$13,199	'

VESSEL_ACQUISITIONS_Details

VESSEL ACQUISITIONS (Details) (USD $)	3 Months Ended			3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Dec. 03, 2013	Oct. 31, 2013	Aug. 30, 2013	Jul. 02, 2013	Nov. 13, 2013	Nov. 13, 2013
				Baltic Trading Limited	Baltic Trading Limited	Agreement to Purchase Capesize Drybulk Vessels	Agreement to Purchase Capesize Drybulk Vessels	Handysize Vessel purchase	Handysize Vessel purchase	Yangfan Group Co., LTD	Yangfan Group Co., LTD
						Purchase agreement with SK Shipping Co LTD	Purchase agreement with SK Shipping Co LTD	Subsidiaries of Clipper Group	Subsidiaries of Clipper Group	Agreement to Purchase Ultramax Drybulk Vessels	Agreement to Purchase Ultramax Drybulk Vessels
						Baltic Trading Limited	Baltic Trading Limited	Baltic Trading Limited	Baltic Trading Limited	Baltic Trading Limited	Baltic Trading Limited
							item		item	item	Maximum
											item
VESSEL ACQUISITIONS AND DISPOSITIONS	'	'	'	'	'	'	'	'	'	'	'
Number of vessels purchased	'	'	'	'	'	'	2	'	2	2	'
Aggregate purchase price	'	'	'	'	'	'	$103,000	'	$41,000	$112,000	'
Total purchase price per vessel	'	'	'	'	'	'	'	'	'	28,000	'
Number of vessels purchased under option to be acquired per purchase agreement	'	'	'	'	'	'	'	'	'	2	'
Number of vessels committed to be acquired under purchase agreement	'	'	'	'	'	'	'	'	'	'	4
Capacity of vessels	'	'	'	'	'	'	'	'	'	64,000	'
Face amount of term loan facility	'	'	'	'	'	44,000	'	22,000	'	'	'
Deposits on vessels	17,175	'	1,013	'	'	'	'	'	'	'	'
Amortization of time charters acquired	49	132	'	'	'	'	'	'	'	'	'
Capitalized interest associated with newbuilding contracts	'	'	'	$98	$0	'	'	'	'	'	'

INVESTMENTS_Details

INVESTMENTS (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Schedule of Investments	'	'	'
Fair value of investment in capital stock	$63,355	'	$77,570
Jinhui Shipping and Transportation Limited	'	'	'
Schedule of Investments	'	'	'
Investment in the capital stock (in shares)	16,335,100	'	16,335,100
Fair value of investment in capital stock	63,286	'	77,488
Impairment of investment	0	0	'
Korea Line Corporation	'	'	'
Schedule of Investments	'	'	'
Investment in the capital stock (in shares)	3,355	'	3,355
Fair value of investment in capital stock	69	'	82
Impairment of investment	$0	$0	'

NET_LOSS_PER_COMMON_SHARE_Deta

NET LOSS PER COMMON SHARE (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
NET LOSS PER COMMON SHARE	'	'
Anti-dilutive shares (in shares)	880,465	'
Common shares outstanding, basic:	'	'
Weighted-average common shares outstanding, basic (in shares)	43,568,942	43,161,510
Common shares outstanding, diluted:	'	'
Weighted-average common shares outstanding, basic (in shares)	43,568,942	43,161,510
Weighted-average common shares outstanding, diluted (in shares)	43,568,942	43,161,510
Reconciliation of the net loss attributable to GS&T and the net loss attributable to GS&T for diluted net loss per share	'	'
Net loss attributable to GS&T	($39,105)	($48,163)
Net loss attributable to GS&T for the computation of diluted net loss per share	($39,105)	($48,163)

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Related Party Transaction	'	'	'
Service revenues	$810	$810	'
General Maritime Corporation	'	'	'
Related Party Transaction	'	'	'
Amount invoiced for services performed and expenses paid	35	35	'
Expenses incurred from transactions with related party	28	27	'
Amount due to the related party	9	'	16
Constantine Georgiopoulos	'	'	'
Related Party Transaction	'	'	'
Expenses incurred from transactions with related party	3	0	'
Amount due to the related party	26	'	25
Aegean Marine Petroleum Network Inc.	'	'	'
Related Party Transaction	'	'	'
Expenses incurred from transactions with related party	600	565	'
Amount due to the related party	367	'	263
MEP	'	'	'
Related Party Transaction	'	'	'
Amount invoiced for services performed and expenses paid	822	832	'
Amount due to the entity from a related party	2	'	7
Service revenues	$810	$810	'

DEBT_Details

DEBT (Details) (USD $)

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

In Thousands, except Share data, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Aug. 31, 2012

Mar. 31, 2014

Feb. 28, 2012

Dec. 21, 2011

Mar. 31, 2014

Dec. 31, 2013

Aug. 01, 2012

Mar. 31, 2014

Feb. 28, 2012

Mar. 31, 2014

Dec. 31, 2013

Aug. 12, 2010

Mar. 31, 2014

Dec. 31, 2013

Aug. 20, 2010

Aug. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Aug. 29, 2013

Nov. 30, 2010

Apr. 16, 2010

Mar. 31, 2014

Dec. 31, 2013

Aug. 30, 2013

Sep. 04, 2013

Mar. 31, 2014

Dec. 31, 2013

Dec. 03, 2013

Dec. 23, 2013

item

August 2012 Credit Facility Agreements

Minimum

Maximum

5.00% convertible senior notes

2007 Credit Facility

$100 Million Term Loan Facility

$253 Million Term Loan Facility

2010 Baltic Trading Credit Facility

Baltic Trading $22 Million Term Loan Facility

Baltic Trading $44 Million Term Loan Facility

August 2012 Credit Facility Agreements

December 2011 Credit Facility Agreements

item

Baltic Hare

Baltic Fox

item

Baltic Tiger

Baltic Lion

Line of Credit Facility

Long-term debt, gross

$1,055,912

$73,561

$75,484

$175,718

$180,793

$102,250

$21,250

$21,625

$43,313

$44,000

Current portion

-1,309,441

-1,316,439

-1,055,912

-73,561

-175,718

Long-term debt

162,563

163,625

Maximum borrowing capacity

1,055,912

100,000

253,000

110,000

150,000

100,000

22,000

44,000

Number of days after year end audited financial statements are to be furnished to lenders

'90 days

Number of credit facilities

Interest rate on convertible notes (as a percent)

5.00%

Number of days after notice from trustee to cure default

'30 days

Ratio of interest-bearing indebtedness to the sum of interest-bearing indebtedness and consolidated net worth (as a percent)

62.50%

Applicable margin over reference rate for interest payable, before increase (as a percent)

2.00%

Applicable margin over reference rate for interest payable (as a percent)

3.00%

3.35%

Minimum cash balance required per vessel mortgaged, before increase

500

Minimum cash balance required per vessel mortgaged

750

Facility fee (as a percent)

2.00%

1.00%

Reduction in facility fee if equity offering results in desired gross proceeds (as a percent)

1.00%

Proceeds to be received on issuance of common stock

50,000

Issuance of common stock (in shares)

7,500,000

Gross proceeds from issuance of common stock

53,250

Amount of letters of credit issued

Number of vessels acquired

Final payment amount

13,375

28,188

Amount of prepayments to have liens released

18,000

Reference rate for interest payable

'LIBOR

'Three-month LIBOR

Commitment fee on unused daily average unutilized commitment (as a percent)

1.00%

0.75%

Available working capital borrowings

7,750

25,000

Drawdowns during the period

10,730

11,270

21,400

22,600

Restricted cash

9,875

9,750

Remaining borrowing capacity

7,750

Number of consecutive semi-annual reductions in total commitment

Amount of semi-annual reductions in maximum borrowing capacity through the maturity date

5,000

Applicable margin over reference rate for condition one (as a percent)

3.00%

Ratio of maximum facility amount to aggregate appraised value of vessels mortgaged (as a percent)

55.00%

Applicable margin over reference rate for condition two (as a percent)

3.35%

Number of quarterly installments

Amount of periodic payment

375

688

Period after latest vessel delivery date for first periodic repayment

'3 months

Amendment fee (as a percent)

1.25%

Interest rates on debt

Effective Interest Rate (as a percent)

4.35%

4.73%

Range of Interest Rates, minimum (excluding impact of swaps and unused commitment fees) (as a percent)

3.15%

3.20%

Range of Interest Rates, maximum (excluding impact of swaps and unused commitment fees) (as a percent)

4.25%

4.38%

Interest payable

$13,199

Change of Control

Percentage of ownership interest held by Parent (as a percent)

10.00%

Aggregate voting power held (as a percent)

30.00%

Ownership interest held (as a percent)

30.00%

CONVERTIBLE_SENIOR_NOTES_Detai

CONVERTIBLE SENIOR NOTES (Details) (USD $)	0 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Jul. 27, 2010	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Convertible senior notes	'	'	'	'
Net carrying amount of the liability component	'	$117,180	'	$115,881
Non-cash interest expense recognized	'	1,299	1,179	'
Non-cash deferred financing amortization costs included in interest expense	'	2,220	1,835	'
2010 Notes	'	'	'	'
Convertible senior notes	'	'	'	'
Proceeds from Convertible Debt	125,000	'	'	'
Carrying amount of the equity component (additional paid-in capital)	'	24,375	'	24,375
Principal amount of the 2010 Notes	'	125,000	'	125,000
Unamortized discount of the liability component	'	7,820	'	9,119
Net carrying amount of the liability component	'	117,180	'	115,881
Effective interest rate on liability component (as a percent)	'	10.00%	10.00%	'
Cash interest expense recognized	'	1,541	1,541	'
Non-cash interest expense recognized	'	1,299	1,179	'
Non-cash deferred financing amortization costs included in interest expense	'	$177	$177	'
Remaining period over which the unamortized discount will be recognized	'	'1 year 4 months 17 days	'	'

INTEREST_RATE_SWAP_AGREEMENTS_1

INTEREST RATE SWAP AGREEMENTS (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	item	item
INTEREST RATE SWAP AGREEMENTS	'	'
Number of interest rate swap agreements outstanding	1	4
Interest rate swaps designated as cash flow hedges	'	'
Notional amount outstanding	$106,233	$306,233
Interest Rate Swap, 4.485%	'	'
Interest rate swaps designated as cash flow hedges	'	'
Fixed rate (as a percent)	4.49%	'
Notional amount outstanding	106,233	106,233
Interest Rate Swap, 5.25%	'	'
Interest rate swaps designated as cash flow hedges	'	'
Fixed rate (as a percent)	'	5.25%
Notional amount outstanding	'	50,000
Interest Rate Swap, 2.05%	'	'
Interest rate swaps designated as cash flow hedges	'	'
Fixed rate (as a percent)	'	2.05%
Notional amount outstanding	'	100,000
Interest Rate Swap, 2.45%	'	'
Interest rate swaps designated as cash flow hedges	'	'
Fixed rate (as a percent)	'	2.45%
Notional amount outstanding	'	$50,000

INTEREST_RATE_SWAP_AGREEMENTS_2

INTEREST RATE SWAP AGREEMENTS (Details 2) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified			2007 Credit Facility	Interest rate contracts	Interest rate contracts	Interest rate contracts	Interest rate contracts
						Derivatives designated as hedging instruments	Derivatives designated as hedging instruments
Liability Derivatives	'	'	'	'	'	'	'
Fair value of derivative instruments	$5,747	$6,975	'	'	'	$5,747	$6,975
Total Derivatives	'	'	'	$5,747	$6,975	$5,747	$6,975
Term of interest periods when Company is in default under covenants of 2007 Credit Facility	'	'	'1 month	'	'	'	'

INTEREST_RATE_SWAP_AGREEMENTS_3

INTEREST RATE SWAP AGREEMENTS (Details 3) (Interest rate contracts, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Impact of derivative instruments and their location within Condensed Consolidated Statement of Operations	'	'
Number of vessels mortgaged	35	'
Aggregate amount of collateral	$100,000	'
Derivatives in cash flow hedging relationships	'	'
Impact of derivative instruments and their location within Condensed Consolidated Statement of Operations	'	'
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)	'	-4
Interest Expense \| Derivatives in cash flow hedging relationships	'	'
Impact of derivative instruments and their location within Condensed Consolidated Statement of Operations	'	'
Amount of Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)	-179	-138
Other Expense \| Derivatives in cash flow hedging relationships	'	'
Impact of derivative instruments and their location within Condensed Consolidated Statement of Operations	'	'
Amount of Gain (Loss) Reclassified from AOCI into income (Effective Portion)	($1,407)	($2,439)

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Changes in AOCI by Component	'	'
Balance at the beginning of the period	$53,722	'
OCI before reclassifications	-11,580	'
Amounts reclassified from AOCI	-1,407	'
Other comprehensive (loss) income	-12,987	11,904
Balance at the end of the period	40,735	'
Net Unrealized Gain (Loss) on Cash Flow Hedges	'	'
Changes in AOCI by Component	'	'
Balance at the beginning of the period	-6,976	'
OCI before reclassifications	2,635	'
Amounts reclassified from AOCI	-1,407	'
Other comprehensive (loss) income	1,228	'
Balance at the end of the period	-5,748	'
Net Unrealized Gain on Investments	'	'
Changes in AOCI by Component	'	'
Balance at the beginning of the period	60,698	'
OCI before reclassifications	-14,215	'
Other comprehensive (loss) income	-14,215	'
Balance at the end of the period	$46,483	'

ACCUMULATED_OTHER_COMPREHENSIV3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Reclassifications Out of AOCI	'	'
Interest expense	$21,023	$21,289
Net loss attributable to Genco Shipping & Trading Limited	39,105	48,163
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Reclassifications Out of AOCI	'	'
Net loss attributable to Genco Shipping & Trading Limited	1,407	2,439
Gains and losses on cash flow hedges \| Interest rate contracts \| Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Reclassifications Out of AOCI	'	'
Interest expense	$1,407	$2,439

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Aug. 12, 2010

Mar. 31, 2014

Dec. 31, 2013

Aug. 20, 2010

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

In Thousands, unless otherwise specified

$100 Million Term Loan Facility

$253 Million Term Loan Facility

Baltic Trading $22Million Term Loan Facility

Baltic Trading $44 Million Term Loan Facility

Carrying Value

Fair value

Fair value of financial instruments

Cash and cash equivalents

$92,408

$122,722

$92,408

$122,722

Restricted cash

9,875

9,750

10,275

10,150

10,275

10,150

Floating rate debt

1,472,004

1,480,064

2010 Notes

117,180

115,881

102,116

63,438

Face amount of term loan facility

$100,000

$253,000

$22,000

$44,000

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair value of financial instruments	'	'
Investments	$63,355	$77,570
Derivative instruments - liability position	5,747	6,975
Period to determine fair value inputs for valuation	'2 years	'
Quoted market prices in active markets (Level 1)	'	'
Fair value of financial instruments	'	'
Investments	63,355	77,570
Significant Other Observable Inputs (Level 2)	'	'
Fair value of financial instruments	'	'
Derivative instruments - liability position	$5,747	$6,975

PREPAID_EXPENSES_AND_OTHER_CUR2

PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
PREPAID EXPENSES AND OTHER CURRENT AND NONCURRENT ASSETS	'	'
Lubricant inventory, fuel oil and diesel oil inventory and other stores	$10,247	$11,342
Prepaid items	7,596	5,000
Insurance receivable	844	1,096
Other	7,588	1,627
Total prepaid expenses and other current assets	26,275	19,065
Security deposit related to operating lease included in other noncurrent assets	$514	$514

DEFERRED_FINANCING_COSTS_Detai

DEFERRED FINANCING COSTS (Details) (USD $)

3 Months Ended

In Thousands, unless otherwise specified

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Aug. 12, 2010

Mar. 31, 2014

Dec. 31, 2013

Aug. 20, 2010

Mar. 31, 2014

Dec. 31, 2013

Aug. 29, 2013

Nov. 30, 2010

Apr. 16, 2010

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

2010 Notes

2007 Credit Facility

$100 Million Term Loan Facility

$253 Million Term Loan Facility

2010 Baltic Trading Credit Facility

Baltic Trading $22 Million Term Loan Facility

Baltic Trading $44 Million Term Loan Facility

Other assets, net

Maximum borrowing capacity

$1,055,912

$100,000

$253,000

$110,000

$150,000

$100,000

$22,000

$44,000

Total deferred financing costs

44,552

44,290

3,637

29,568

1,856

1,783

4,884

4,708

3,339

529

518

739

737

Less: accumulated amortization

24,498

22,279

Total

20,054

22,011

Amortization of deferred financing costs

$2,220

$1,835

$177

FIXED_ASSETS_Details

FIXED ASSETS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
FIXED ASSETS	'	'	'
Total cost	$7,835	'	$8,542
Less: accumulated depreciation and amortization	3,653	'	3,438
Total	4,182	'	5,104
Depreciation and amortization	36,201	34,378	'
Property, plant, and equipment excluding vessels	'	'	'
FIXED ASSETS	'	'	'
Depreciation and amortization	219	228	'
Vessel Equipment	'	'	'
FIXED ASSETS	'	'	'
Total cost	3,576	'	4,323
Leasehold Improvements	'	'	'
FIXED ASSETS	'	'	'
Total cost	2,679	'	2,679
Furniture and Fixtures	'	'	'
FIXED ASSETS	'	'	'
Total cost	786	'	786
Computer Equipment	'	'	'
FIXED ASSETS	'	'	'
Total cost	$794	'	$754

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'	'
Accounts payable	$9,958	$5,643
Accrued general and administrative expenses	11,127	8,960
Accrued vessel operating expenses	14,520	12,756
Total	$35,605	$27,359

REVENUE_FROM_TIME_CHARTERS_Det

REVENUE FROM TIME CHARTERS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
REVENUE FROM TIME CHARTERS	'	'
Voyage revenues	$63,180	$39,676
Profit sharing revenue	0	0
Future minimum time charter revenue	'	'
Remainder of 2014	$12,596	'
Offhire period	'20 days	'

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Sep. 30, 2005

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Apr. 04, 2011

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

In Thousands, unless otherwise specified

Period until May 31, 2015

Period after May 31, 2015 until April 30, 2018

Period from October 1, 2018 to April 30, 2023

Period from May 1, 2023 to September 30, 2025

Lease agreement entered into September 2005

Lease agreement entered into April 2011

Period during June 1, 2011 to September 30, 2025

Commitments and contingencies

Lease term

'15 years

'7 years

Rent expense

$109

$389

Current portion of lease obligations

168

176

168

176

Long-term lease obligations

3,222

3,114

708

744

2,514

2,370

Future minimum rental payments

Remainder of 2014

388

736

2015

518

1,037

2016

529

1,076

2017

550

1,076

2018

550

916

Remaining term of the lease

1,421

15,590

Future contract sublease income

Remainder of 2014

255

2015

340

2016

340

2017

347

2018

380

Remaining term of the sublease

983

Monthly rental payment

186

204

Monthly straight-line rental expense

130

Obligation of sublessor towards the cost of alterations of office space

$472

NONVESTED_STOCK_AWARDS_Details

NONVESTED STOCK AWARDS (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 13, 2014	Mar. 12, 2014
2005 and 2012 GS&T Plans	'	'	'	'
Number of Shares	'	'	'	'
Balance at the beginning of the period (in shares)	880,465	'	'	'
Vested (in shares)	0	0	'	'
Balance at the end of the period (in shares)	880,465	'	'	'
Weighted Average Grant Date Price	'	'	'	'
Balance at the beginning of the period (in dollars per share)	$7.77	'	'	'
Balance at the end of the period (in dollars per share)	$7.77	'	'	'
Unrecognized compensation cost related to nonvested stock awards [Abstract]	'	'	'	'
Unrecognized compensation cost	$1,975	'	'	'
Weighted-average period for recognition of unrecognized compensation cost	'1 year 11 months 1 day	'	'	'
Baltic Trading Plan \| Baltic Trading Limited	'	'	'	'
Number of Shares	'	'	'	'
Balance at the beginning of the period (in shares)	1,381,429	'	'	'
Vested (in shares)	-116,500	'	'	'
Balance at the end of the period (in shares)	1,264,929	'	'	'
Weighted Average Grant Date Price	'	'	'	'
Balance at the beginning of the period (in dollars per share)	$6.03	'	'	'
Vested (in dollars per share)	$14	'	'	'
Balance at the end of the period (in dollars per share)	$5.29	'	'	'
Additional disclosures	'	'	'	'
Total fair value of shares vested	774	454	'	'
Unrecognized compensation cost related to nonvested stock awards [Abstract]	'	'	'	'
Unrecognized compensation cost	$4,971	'	'	'
Weighted-average period for recognition of unrecognized compensation cost	'3 years 2 months 1 day	'	'	'
Aggregate number of shares of common stock available for awards	'	'	6,000,000	2,000,000

NONVESTED_STOCK_AWARDS_Details1

NONVESTED STOCK AWARDS (Details 2) (General, administrative and management fees, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
2005 and 2012 GS&T Plans	'	'
NONVESTED STOCK AWARDS	'	'
Recognized nonvested stock amortization expense	$427	$769
Baltic Trading Plan	'	'
NONVESTED STOCK AWARDS	'	'
Recognized nonvested stock amortization expense	$963	$464

SHARE_REPURCHASE_PROGRAM_Detai

SHARE REPURCHASE PROGRAM (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
SHARE REPURCHASE PROGRAM	'	'
Shares of common stock repurchased and retired (in shares)	278,300	'
Value of common stock repurchased and retired	$11,500	'
Common stock repurchased (in shares)	0	0

LEGAL_PROCEEDINGS_Details

LEGAL PROCEEDINGS (Details) (USD $)	Apr. 03, 2014	Mar. 31, 2014	Dec. 31, 2013	Aug. 20, 2010
In Thousands, unless otherwise specified	Apr. 03, 2014	$253 Million Term Loan Facility	$253 Million Term Loan Facility	$253 Million Term Loan Facility
Line of Credit Facility	'	'	'	'
Cash collateralized bank guarantee	$900	'	'	'
Face amount of term loan facility	'	$253,000	$253,000	$253,000

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Subsequent Event, Baltic Trading Limited, USD $)	0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	5-May-14
Subsequent Event	'
Dividends declared per share (in dollars per share)	$0.01
Aggregate amount of the dividend	$576
Minority Shareholders	'
Subsequent Event	'
Aggregate amount of the dividend	$512