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REVENUE FROM TIME CHARTERS | 12 Months Ended
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Dec. 31, 2013
REVENUE FROM TIME CHARTERS [Abstract] |
REVENUE FROM TIME CHARTERS | 18 - REVENUE FROM TIME CHARTERS Total voyage revenue earned on time charters, including revenue earned in vessel pools and spot market-related time charters, as well as the sale of bunkers consumed during short-term time charters, for the years ended December 31, 2013, 2012 and 2011 was $224,179, $223,159 and $388,929, respectively. Additionally, included in revenues for the years ended December 31, 2013, 2012 and 2011 was $0, $0 and $122 of profit sharing revenue, respectively. Future minimum time charter revenue, based on vessels committed to noncancelable time charter contracts as of February 21, 2014, is expected to be $17,235 during 2014, assuming off-hire due to any scheduled drydocking and that no additional off-hire time is incurred. For drydockings, the Company assumes twenty days of offhire. Future minimum revenue excludes revenue earned for the vessels currently in pool arrangements and vessels that are currently on or will be on spot market-related time charters, as spot rates cannot be estimated, as well as profit sharing revenue.

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- Definition Description of the revenue earned under time charters. + References No definition available. + Details
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