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Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2015
Commitments and Contingencies [Abstract]  
Schedule of future minimum contractual obligations
 
Twelve month periods ending June 30,
plus inflows/ minus outflows
Total
2016
2017
2018
2019
2020
2021 and
thereafter
Future, minimum, non-cancellable charter revenue (1)
$48,008
$47,258
$750
$ -
$ -
$ -
$ -
Bareboat capital leases - upfront hire & handling
fees (2)
(13,613
 )(12,269)
(1,344
 )-
-
-
-
Bareboat commitments charter hire (3)
(364,854
 )(4,803)
(26,123
 )(27,219)
(27,151
 )(27,488)
(252,070
)
Total
($330,459)
$30,186
($26,717)
($27,219)
($27,151)
($27,488)
($252,070)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)  The amounts represent the minimum contractual charter revenues to be generated from the existing, as of June 30, 2015, non-cancellable time and freight charter until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim and special surveys of the vessels.
 
(2) The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire and handling fees for those vessels being, as of June 30, 2015, under construction.
 
 
 
 
 
 
 
 
(3)  The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of June 30, 2015, under construction. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month Libor rate of 0.4449%, as of June 30, 2015 (please refer to Note 6).