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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2014

Commitments and Contingencies [Abstract]

Schedule of future minimum contractual charter revenue

Twelve month periods ending			Amount*
June 30, 2015		$	24,419
June 30, 2016			14,541
June 30, 2017			765
June 30, 2018			-
June 30, 2019			-
June 30, 2020 and thereafter			-
Total		$	39,725
(*)      These amounts do not include any assumed off-hire except for the scheduled dry-docking intermediate and special surveys of the vessels.

Schedule of future minimum contractual obligations

				Twelve month periods ending June 30,
		Total		2015		2016			2017				2018		2019				2020 and thereafter
Shipbuilding contracts & agreed extra costs	$	303,934		$ 81,747			$ 222,187		$ -			$ -				$ -			$-
Bareboat capital leases - upfront hire & handling fees		13,080		12,024		1,056			-				-		-				-
Bareboat commitments charter hire (1)		124,739		-		6,588			9,266				9,249		9,232				90,404
Total	$	441,753		$93,771		$229,831			$9,266				$9,249		$9,232				$90,404
(1) The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month Libor rate of 0.327%, as of June 30, 2014 (please refer to Note 6).

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- Definition

Tabular disclosure of the aggregate amount of payments due on known contractual obligations for the five years following the date of the latest balance sheet and the combined aggregate amount of maturities of known contractual obligations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-K (SK)

-Number 229

-Section 303

-Paragraph a

-Subparagraph 5

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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

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