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Transactions with Related Parties: | 6 Months Ended
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Jun. 30, 2020
Related Party Transactions [Abstract] |
Transactions with Related Parties: | 3. Transactions with Related Parties: Except for what is described below, details of the Company’s transactions with related parties did not change in the six-month period ended June 30, 2020 and are discussed in Note 3 of the Company’s consolidated financial statements for the year ended December 31, 2019, included in the 2019 Annual Report. During the second quarter of 2020, the Company together with Golden Ocean Group, Bocimar International NV and Oceanbulk Maritime S.A (collectively the “Short Pool Members”) have agreed to enter into Contracts of Affreightment (“COAs”) with major miners and commodity traders to transport dry bulk commodities at fixed freight rates (the “Short Pool”). The Short Pool Members may use own vessels or charter-in from the market to perform the COAs. During the second quarter of 2020 the Company earned $1,108 from such arrangement, which is included within “Voyage revenues” in the unaudited condensed consolidated statement of operations. In May 2020, the Company received credit committee approval from Piraeus Bank for a loan of up to $50,350 (Note 15). One of the Company’s independent members of the board of directors currently serves as executive member of this financial institution. This director is not involved in the Company’s decisions with regards to the loan from this financial institution. Transactions and balances with related parties are analyzed as follows: Balance Sheets Transactions with Related Parties - Balance Sheets (Table)
|  |  | December 31, 2019 |  |  | June 30, 2020
Due from related parties |  |  |  |  |  |
Oceanbulk Maritime and its affiliates |  | $ | 327 |  | $ | 86
Interchart |  |  | 11 |  |  | 3
AOM |  |  | 195 |  |  | —
Starocean |  |  | 41 |  |  | 35
Product Shipping & Trading S.A. |  |  | 16 |  |  | 16
Due from related parties |  | $ | 590 |  | $ | 140
Due to related parties |  |  |  |  |  |
Management and Directors Fees |  | $ | 246 |  | $ | 169
Sydelle |  |  | 19 |  |  | —
Augustea Technoservices Ltd. |  |  | 2,879 |  |  | 1,803
Coromel Maritime Limited |  |  | 873 |  |  | —
Due to related parties |  | $ | 4,017 |  | $ | 1,972
Statements of Operations Transactions with Related Parties - Statements of Operations (Table)
|  | Six months ended June 30,
|  |  | 2019 |  |  | 2020
Voyage expenses: |  |  |  |  |  |
Voyage expenses-Interchart |  | $ | (1,950) |  |  | (1,890)
General and administrative expenses: |  |  |  |  |  |
Consultancy fees |  |  | (328) |  |  | (327)
Directors compensation |  |  | (87) |  |  | (87)
Office rent - Combine Marine Ltd. & Alma Properties |  |  | (9) |  |  | (19)
General and administrative expenses - Oceanbulk Maritime and its affiliates |  |  | (78) |  |  | (143)
Management fees: |  |  |  |  |  |
Management fees- Augustea Technoservices Ltd. |  |  | (3,254) |  |  | (3,276)
Management fees- Songa Shipmanagement Ltd. |  |  | (32) |  |  | —
Charter-in hire expenses: |  |  |  |  |  |
Charter - in hire expenses - AOM |  |  | — |  |  | (1,654)
Charter - in hire expenses - Sydelle |  |  | — |  |  | (540)
Charter - in hire expenses - Coromel |  |  | — |  |  | (249)

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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