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Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2017

Long-Term Debt Covenants [Abstract]

Bank Loans

		Bank loans		As of December 31, 2017				As of December 31, 2016				Margin
(i)		Issued in September 2017 maturing in October 2023 (the “2017 credit facility”)			460,000				-			3.25%
(ii)		Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”)			15,750				15,750			2.50%
(iii)		Issued in March 2007 repaid in October 2017 (the “2007 credit facility”)			-				185,975			3.00%
(iv)		Issued in March 2008 repaid in October 2017 (the “2008 credit facility”)			-				181,641			3.00%
(v)		Issued in June 2011 fully repaid in October 2017 (the “2011 credit facility”)			-				14,000			3.25%
(vi)		Issued in September 2013 repaid in October 2017 (the “2013 credit facility”)			-				207,646			3.50%
		Total long-term debt		$	475,750			$	605,012
		Less: Deferred loan issuance costs			6,635				2,825
		Less: loan associated with vessel held for sale			14,781				-
		Total long-term debt, net		$	454,334			$	602,187
		Less: Current portion of long-term debt			52,057				40,534
		Add: Current portion of deferred loan issuance costs			1,543				966
		Long-term debt, net		$	403,820			$	562,619

Required Annual Loan Payments

		2017 Credit Facility (i)				2015 Credit Facility (ii)					Total
2018		$	66,510			$	328				$	66,838
2019			51,729				1,313					53,042
2020			51,729				1,313					53,042
2021			51,729				1,313					53,042
2022			51,729				11,483					63,212
Thereafter			186,574				-					186,574
Total		$	460,000			$	15,750				$	475,750

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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