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REVENUE FROM TIME CHARTERS | 9 Months Ended
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Sep. 30, 2014
REVENUE FROM TIME CHARTERS |
REVENUE FROM TIME CHARTERS | 19 - REVENUE FROM TIME CHARTERS Total voyage revenue includes 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 period from July 9 to September 30, 2014, the Successor Company earned $43,943 of voyage revenue. For the period from July 1 to July 9, 2014 and from January 1 to July 9, 2014, the Predecessor Company earned $4,034 and $118,759 of voyage revenue, respectively. For the three and nine months ended September 30, 2013, the Predecessor Company earned $58,605 and $143,222 of voyage revenue, respectively. There was no profit sharing revenue earned during the nine months ended September 30, 2014 and 2013. Future minimum time charter revenue, based on vessels committed to noncancelable time charter contracts as of November 11, 2014, is expected to be $6,051 for the remainder of 2014 and $792 for 2015, 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 on spot market-related time charters, short-term time charters and in vessel pools, as well as the sale of bunkers consumed during short-term time charters. + References No definition available. + Details
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