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Fair value measurements and Hedging (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Derivative instruments effect on statement of operations

	Year ended December 31,
		2016		2017			2018
Consolidated Statement of Operations
Gain/(loss) on derivative financial instruments, net
Unrealized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)	$	2,974	$	2,802		$	140
Realized gain/(loss) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)		(5,048)		(2,556)			(141)
Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)		(42)		-			708
Ineffective portion of cash flow hedges		-		-			-
Total Gain/(loss) on derivative financial instruments, net	$	(2,116)	$	246		$	707
Interest and finance costs
Reclassification adjustments of interest rate swap loss/(gain) transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)		(1,252)		(852)			3
Total Gain/(loss) recognized	$	(1,252)	$	(852)		$	3
Gain/(loss) on forward freight agreements and bunker swaps
Realized gain/(loss) on forward freight agreements		370		(877)			(599)
Realized gain/(loss) on bunker swaps		-		-			1,491
Unrealized gain/(loss) on forward freight agreements		41		(24)			520
Unrealized gain/(loss) on bunker swaps		-		60			(1,859)
Total Gain/(loss) recognized	$	411	$	(841)		$	(447)

Fair value measurements on a recurring basis

	Significant Other Observable Inputs (Level 2)
	December 31, 2017		December 31, 2018
	(not designated as cash flow hedges)	(designated as cash flow hedges)		(not designated as cash flow hedges)	(designated as cash flow hedges)
ASSETS
Forward freight agreements - asset position	$                             17	-		$                        537	-
Bunker swaps - asset position	60	-		-	-
Interest rate swaps - asset position	-	-		-	-
Total	$                             77	-		$                         537	-
LIABILITIES
Forward freight agreements - liability position	$                                -	-		-	-
Bunker swaps - liability position	-	-		1,799	-
Interest rate swaps - liability position	609	16		-	-
Total	$                           609	16		1,799	-

Fair value measurements on a nonrecurring basis

Long-lived assets held and used	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3) Impairment loss	Impairment loss
Vessels, net	$       -	$       12,700	$       -	$       10,684
TOTAL	$       -	$       12,700	$       -	$       10,684

Long-lived assets held and used	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3) Impairment loss	Impairment loss
Held for sale	$       -	$        5,949	$       -	$        1,606
Vessels, net	$       -	$       14,893	$       -	$       16,178
TOTAL	$       -	$       20,842	$       -	$       17,784

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
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-Section 50
-Paragraph 2
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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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