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SALE/LEASEBACK ARRANGEMENTS (Tables)
9 Months Ended
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