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Transactions with Related Parties
 6 Months Ended
Jun. 30, 2015
Transactions with Related Parties [Abstract]  
Transactions with Related Parties:
3.      Transactions with Related Parties:
 
Details of the Company's transactions with related parties are discussed in Note 3 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F. In addition to those transactions, three of the Excel Vessels (Christine (tbr Star Martha), Star Pauline and Star Despoina), which were acquired with attached time charters, are managed by Maryville Maritime Inc. (“Maryville”), a subsidiary of Excel.  Maryville is managing these three vessels until the expiration of their existing time charter agreements (two of which expired in August 2015 and one which expires in October 2015) at a monthly fee of $17.5 per vessel.
 
Transactions and balances with related parties are analyzed as follows:
 
 
Balance Sheet
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31,
2014
 
 
June 30,
2015
 
Assets
 
 
 
 
 
 
 
Oceanbulk Maritime S.A. and its affiliates
 
$
241
 
$
667
 
Product Shipping & Trading S.A.
 
 
4
 
 
4
 
Total Assets
 
$
245
 
$
671
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Interchart Shipping Inc.
 
$
6
 
$
6
 
Combine Marine Ltd.
 
 
-
 
 
9
 
Management and Directors Fees
 
 
462
 
 
314
 
Managed Vessels of Oceanbulk Shipping LLC
 
 
9
 
 
7
 
Oceanbulk Sellers (Note 13)
 
 
1,689
 
 
50
 
Maryville Maritime Inc.
 
 
-
 
 
514
 
Total Liabilities
 
$
2,166
 
$
900
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Excel Vessel Bridge Facility outstanding balance
 
 
 
 
 
 
 
 
 
 
December 31,
2014
 
 
June 30,
2015
 
Excel Vessel Bridge Facility - current portion
 
$
8,168
 
$
-
 
Excel Vessel Bridge Facility - non- current portion
 
 
47,993
 
 
-
 
Total Excel Vessel Bridge Facility
 
$
56,161
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Capitalized Expenses
 
 
December 31,
2014
 
 
June 30,
2015
 
Advances for vessels under construction and acquisition of vessels
 
 
 
 
 
 
 
Oceanbulk Maritime S.A.- commission fee for newbuilding vessels
 
$
1,038
 
$
1,557
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Statements of Operations
 
 
 
 
 
 
 
 
 
Six month period ended
June 30,
 
 
 
 
2014
 
 
2015
 
Voyage expenses-Interchart
 
$
(385
 ) 
$
(1,650
 ) 
Executive directors consultancy fees
 
 
(286
 ) 
 
(317
 ) 
Non-executive directors compensation
 
 
(71
 ) 
 
(79
 ) 
Office rent - Combine Marine Ltd.
 
 
(21
 ) 
 
(17
 ) 
Management fee expense - Maryville Maritime Inc.
 
 
-
 
 
(315
 ) 
Interest on Excel Vessel Bridge Facility
 
 
                                 -   
 
 
(220
 ) 
Management fee income - Oceanbulk Maritime S.A.
 
 
93
 
 
-
 
Management fee income - Managed Vessels of Oceanbulk Shipping
LLC
 
 
1,299
 
 
-
 
Management fee income Product Shipping & Trading S.A.
 
 
62
 
 
-