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REVENUE FROM TIME CHARTERS
6 Months Ended
Jun. 30, 2014
REVENUE FROM TIME CHARTERS  
REVENUE FROM TIME CHARTERS

19 - 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 three months ended June 30, 2014 and 2013 was $51,545 and $44,941, respectively, and for the six months ended June 30, 2014 and 2013 was $114,725 and $84,617, respectively.  There was no profit sharing revenue earned during the three and six months ended June 30, 2014 and 2013.  Future minimum time charter revenue, based on vessels committed to noncancelable time charter contracts as of August 9, 2014, is expected to be $7,132 for the remainder of 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.