Above Market Acquired Charters

6 Months Ended

Jun. 30, 2015

Above Market Acquired Charters [Abstract]

5.	Above market acquired charters

For the six month periods ended June 30, 2015 and 2014, revenues included a reduction of $7,631 and $8,243 as amortization of the above market acquired charters, respectively.

An analysis of above market acquired charters is as follows:


Above market acquired charters	M/V Cape Agamemnon			M/V Agamemnon			M/V Archimidis			M/V Hyundai Premium			M/V Hyundai Paramount			M/V Hyundai Prestige			M/V Hyundai Privilege			M/V Hyundai Platinum			Total
Carrying amount as at January 1, 2015	$	29,457		$	500		$	636		$	16,728		$	16,858		$	16,882		$	17,144		$	17,177		$	115,382
Amortization		(2,656	)		(428	)		(395	)		(827	)		(828	)		(840	)		(828	)		(829	)		(7,631	)
Carrying amount as at June 30, 2015		26,801			72			241			15,901			16,030			16,042			16,316			16,348			107,751

As of June 30, 2015 the remaining carrying amount of unamortized above market acquired time and bare-boat charters was $107,751 and will be amortized in future years as follows:


For the twelve month period ended June 30,	M/V Cape Agamemnon		M/V Agamemnon		M/V Archimidis		M/V Hyundai Premium		M/V Hyundai Paramount		M/V Hyundai Prestige		M/V Hyundai Privilege		M/V Hyundai Platinum		Total
2016		5,372		72		241		1,668		1,670		1,697		1,676		1,674		14,070
2017		5,357		-		-		1,668		1,670		1,693		1,672		1,669		13,729
2018		5,357		-		-		1,668		1,670		1,693		1,672		1,669		13,729
2019		5,357		-		-		1,668		1,670		1,693		1,672		1,669		13,729
2020		5,358		-		-		1,668		1,670		1,697		1,677		1,674		13,744
Thereafter		-		-		-		7,561		7,680		7,569		7,947		7,993		38,750
Total		26,801		72		241		15,901		16,030		16,042		16,316		16,348		107,751