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Fair value measurements and Hedging: (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair value measurements and Hedging - Derivative Instruments (Table)

Fair value measurements and Hedging - Derivative Instruments (Table)

Counterparty	Trading Date	Inception	Expiry	Fixed Rate	Amortizing Notional amount
ING	10 March 2020	29 March 2020	29 March 2026	0.7000%	from $29.96 mil to $17.65 mil
DNB	25 March 2020	30 March 2020	28 September 2023	0.6370%	from $128.91 mil to $51.02 mil
SEB	25 March 2020	30 March 2020	28 September 2023	0.6320%	from $51.57 mil to $20.41 mil
ING	10 March 2020	2 April 2020	2 October 2025	0.7000%	from $19.69 mil to $9.84 mil
ING	10 March 2020	2 April 2020	2 October 2025	0.7000%	from $19.69 mil to $9.84 mil
ING	18 March 2020	3 April 2020	3 April 2023	0.6750%	from $16.16 mil to $12.74 mil
SEB	6 March 2020	30 April 2020	30 January 2025	0.7270%	from $29.44 mil to $19.25 mil
SEB	6 March 2020	30 April 2020	30 January 2025	0.7270%	from $29.44 mil to $19.25 mil
Citi	11 June 2020	30 July 2020	18 October 2023	0.3300%	from $104.45 mil to $60.65 mil
Citi	11 June 2020	10 August 2020	10 May 2024	0.3510%	from $56.07 mil to $37.91 mil
Citi	11 June 2020	22 June 2020	20 December 2023	0.3380%	from $94.54 mil to $51.25 mil
Citi	11 June 2020	29 June 2020	28 August 2023	0.3280%	from $56.915 mil to $31.235 mil
Citi	11 June 2020	21 July 2020	21 July 2023	0.3250%	from $99.815 mil to $75.42 mil
Citi	11 June 2020	28 August 2020	28 May 2024	0.3520%	from $31.35 mil to $21.13 mil
Citi	11 June 2020	1 September 2020	1 March 2024	0.3430%	from $33.39 mil to $25.35 mil

Fair Value Measurements and Hedging - Consolidated Statement of Operations (Table)

Fair Value Measurements and Hedging - Consolidated Statement of Operations (Table)

	Six months ended June 30,
		2019			2020
Consolidated Statement of Operations
Interest and finance costs
Reclassification adjustments of interest rate swap gain/(loss) transferred to Interest and finance costs from Other comprehensive income/(loss) (Note 8)		—			492
Total Gain/(loss) recognized	$	—		$	492
Gain/(loss) on forward freight agreements and bunker swaps
Realized gain/(loss) on forward freight agreements and freight options		8,337			11,635
Realized gain/(loss) on bunker swaps		33			7,957
Unrealized gain/(loss) on forward freight agreements and freight options		(2,290)			(12,555)
Unrealized gain/(loss) on bunker swaps		1,303			12,495
Total Gain/(loss) recognized	$	7,383		$	19,532

Fair Value Measurements and Hedging - Fair value on a recurring basis - Quoted Prices in Active Markets (Table)

 Fair Value Measurements and Hedging - Fair value on a recurring basis - Quoted Prices in Active Markets (Table)

		Quoted Prices in Active Markets  for Identical Assets (Level 1)
		December 31, 2019		June 30, 2020
	Balance Sheet location	(not designated as cash flow hedges)	(designated as cash flow hedges)	(not designated as cash flow hedges)	(designated as cash flow hedges)
ASSETS
Freight derivatives - current	Derivatives, current asset portion	$                  216	—	$ 1,171	—
Bunker swaps -  current	Derivatives, current asset portion	—	—	$          10,771	—
Total		$                  216	—	$           11,942	—
LIABILITIES
Freight derivatives - current	Derivatives, current liability portion	—	—	$ 12,893	—
Bunker swaps - current	Derivatives, current liability portion	$             1,724	—	—	—
Total		$             1,724	—	$         12,893	—

Fair Value Measurements and Hedging - Fair value on a recurring basis - Significant Other Observable Inputs (Table)

Fair Value Measurements and Hedging - Fair value on a recurring basis - Significant Other Observable Inputs (Table)

		Significant Other Observable Inputs (Level 2)
		December 31, 2019		June 30, 2020
	Balance Sheet location	(not designated as cash flow hedges)	(designated as cash flow hedges)	(not designated as cash flow hedges)	(designated as cash flow hedges)
ASSETS
Interest rate swaps - current	Derivatives, current asset portion	$ —	$—	$ —	108
Total		$—	—	$—	108
LIABILITIES
Interest rate swaps - current	Derivatives, current liability portion	$—	—	$—	1,526
Interest rate swaps - non-current	Derivatives, non-current liability portion	$—	—	$—	3,757
Total		$—	—	$—	5,283

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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).

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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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.

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