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SALE/LEASEBACK ARRANGEMENTS (Tables) | 9 Months Ended
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Dec. 31, 2016
Leases [Abstract] |
Schedule of Future Minimum Lease Payments | As of December 31, 2016 the company operated 16 vessels under sale/leaseback arrangements of which ten are stacked. As of December 31, 2016, the future minimum lease payments for vessels under operating lease terms are as follows:
|  | Fiscal 2015 |  |  | Fiscal 2014 |  |  |  |  |
Fiscal year ending (In thousands) |  | Sale/Leaseback |  |  | Sale/Leaseback |  |  | Total |
Remaining three months of 2017 |  | $ | 2,371 |  |  |  | 5,220 |  |  |  | 7,591 |
2018 |  |  | 9,604 |  |  |  | 23,486 |  |  |  | 33,090 |
2019 |  |  | 10,234 |  |  |  | 24,800 |  |  |  | 35,034 |
2020 |  |  | 11,497 |  |  |  | 25,519 |  |  |  | 37,016 |
2021 |  |  | 11,594 |  |  |  | 19,979 |  |  |  | 31,573 |
Thereafter |  |  | 19,273 |  |  |  | 20,063 |  |  |  | 39,336 |
Total future lease payments |  | $ | 64,573 |  |  |  | 119,067 |  |  |  | 183,640 |

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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 + Details
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