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Charter arrangements | 12 Months Ended
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Dec. 31, 2017
Charter arrangements [Abstract] |
Charter arrangements | Note 4 - Charter arrangements The below table details the Company's shipping revenues:
(Dollars in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Time charter revenues |  | $ | 100,310 |  |  | $ | 118,997 |  |  | $ | 122,882 |
Voyage charter revenues |  |  | 254,742 |  |  |  | 234,646 |  |  |  | 241,679 |
Other shipping revenues |  |  | - |  |  |  | 2,366 |  |  |  | 553 |
Shipping revenues |  | $ | 355,052 |  |  | $ | 356,010 |  |  | $ | 365,114 |
F-21 The following summarizes the Company's vessel employment as of December 31, 2017:
Vessel |  | Type of Employment |  | Expiry
VLCC |  |  |  |
DHT Amazon |  | Time Charter |  | Q4 2018
DHT Bauhinia |  | Spot |  |
DHT China |  | Time Charter |  | Q2 2021
DHT Condor |  | Spot |  |
DHT Edelweiss |  | Spot |  |
DHT Europe |  | Time Charter |  | Q1 2019
DHT Falcon |  | Spot |  |
DHT Hawk |  | Spot |  |
DHT Jaguar |  | Spot |  |
DHT Lake |  | Spot |  |
DHT Leopard |  | Spot |  |
DHT Lion |  | Spot |  |
DHT Lotus |  | Spot |  |
DHT Opal |  | Spot |  |
DHT Panther |  | Spot |  |
DHT Peony |  | Time Charter |  | Q4 2018
DHT Puma |  | Spot |  |
DHT Raven |  | Spot |  |
DHT Redwood |  | Time Charter |  | Q1 2018
DHT Scandinavia |  | Spot |  |
DHT Sundarbans |  | Spot |  |
DHT Taiga |  | Spot |  |
DHT Tiger |  | Spot |  |
DHT Utik |  | Spot |  |
Aframax |  |  |  |
DHT Cathy |  | Time Charter |  | Q2 2018
DHT Sophie |  | Spot |  |
Future charter payments: The future revenues expected to be received from the time charters (not including any potential profit sharing) for the Company's vessels on existing charters as of the reporting date are as follows:
(Dollars in thousands) |  |  |
Year |  |  | Amount |
2018 |  |  | 52,457 |
2019 |  |  | 16,061 |
2020 |  |  | 14,979 |
2021 |  |  | 7,417 |
2022 |  |  | - |
Thereafter |  |  | - |
Net charter payments: |  | $ | 90,915 |
F-22 Any extension periods, unless already exercised as of December 31, 2017, are not included. Revenues from a time charter are not received when a vessel is off-hire, including time required for normal periodic maintenance of the vessel. In arriving at the minimum future charter revenues, an estimated time for off-hire to perform periodic maintenance on each vessel has been deducted, although there is no assurance that such estimate will be reflective of the actual off-hire in the future. Deferred Shipping Revenues: Relates to next month charter hire payment paid in advance amounting to $2,154 thousand as of December 31, 2016 and $3,575 thousand as of December 31, 2015. No deferred shipping revenues were included as of December 31, 2017. Concentration of risk: As of December 31, 2017, six of the Company's 26 vessels were chartered to four different counterparties and 20 vessels were operated in the spot market. As of December 31, 2016, nine of the Company's 21 vessels were chartered to five different counterparties and 12 vessels were operated in the spot market. As of December 31, 2015, nine of the Company's 18 vessels were chartered to four different counterparties and nine vessels were operated in the spot market. The Company believes that the concentration of risk is limited and can be adequately monitored.

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