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Fair value measurements and Hedging (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Derivative instruments effect on statement of operations

	Years ended December 31,
		2017		2018			2019
Consolidated Statement of Operations
Gain/(loss) on derivative financial instruments, net
Unrealized gain/(loss) after de-designation of accounting hedging relationship (April 1, 2015)	$	2,802	$	140		$	-
Realized gain/(loss) after de-designation of accounting hedging relationship (April 1, 2015)		(2,556)		(141)			-
Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)		-		708			-
Ineffective portion of cash flow hedges		-		-			-
Total Gain/(loss) on derivative financial instruments, net	$	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 9)		(852)		3			-
Total Gain/(loss) recognized	$	(852)	$	3		$	-
Gain/(loss) on forward freight agreements and bunker swaps
Realized gain/(loss) on forward freight agreements		(877)		(599)			6,043
Realized gain/(loss) on bunker swaps		-		1,491			(1,386)
Unrealized gain/(loss) on forward freight agreements		(24)		520			(321)
Unrealized gain/(loss) on bunker swaps		60		(1,859)			75
Total Gain/(loss) recognized	$	(841)	$	(447)		$	4,411

Fair value measurements on a recurring basis

		Quoted Prices in Active Markets for Identical Assets (Level 1)
		December 31, 2018		December 31, 2019
		(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		$                           537	-	$                      216	-
Total		$                           537	-	$                      216	-
LIABILITIES
Bunker swaps - liability position		1,799	-	$                  1,724	-
Total		$                        1,799	-	$                  1,724	-

Fair value measurements on a nonrecurring basis

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

Long-lived assets held and used		Quoted Prices in Active Markets for Identical Assets	Significant Other Observable Inputs	Significant Unobservable Inputs	Impairment loss
		(Level 1)	(Level 2)	(Level 3)
Vessels, net		$                              -	$                24,475	$                         -	$                 3,411
TOTAL		$                              -	$                24,475	$                         -	$                 3,411

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Section 50
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- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
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- Definition

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).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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