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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | 24 Months Ended
--- | --- | --- | ---
Dec. 31, 2014 | Jul. 09, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013
Income Taxes |  |  |  |  |  |
Ownership percentage held by each shareholder (as a percent) |  |  | 5.00% |  |  |
Federal tax rate (as a percent) |  |  | 4.00% |  |  |
Taxable income | $ (212,362) |  |  |  |  |
Income tax expense | 996 |  |  |  |  |
Total revenue earned | 1,584 |  |  |  |  |
Intersegment Elimination |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Total revenue earned | (2,309) |  |  |  |  |
Maximum |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Combined ownership held by 5% shareholders (as a percent) |  |  | 50.00% |  |  |
Federal tax rate (as a percent) |  |  | 35.00% |  |  |
Percentage of shipping income attributable to transportation that begins or ends in the United States included in United States source shipping income (in hundredths) |  |  | 50.00% |  |  |
Vessel Management Services |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Taxable income | 2,178 |  |  |  |  |
Income tax expense | 978 |  |  |  |  |
Total revenue earned | 3,893 |  |  |  |  |
Vessel Management Services | Intersegment Elimination |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Total revenue earned | $ (2,309) |  |  |  |  |
Predecessor |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Ownership percentage held by each shareholder (as a percent) |  |  |  | 5.00% | 5.00% |
Taxable income |  | $ (1,012,435) |  | $ (155,123) | $ (156,554) |
Income tax expense |  | 815 |  | 1,898 | 1,222 |
Total revenue earned |  | 1,701 |  | 3,285 | 3,294 |
Predecessor | Intersegment Elimination |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Total revenue earned |  | (2,156) |  | (4,571) | (2,816) |
Predecessor | Maximum |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Combined ownership held by 5% shareholders (as a percent) |  |  |  |  |  | 50.00%
Predecessor | Vessel Management Services |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Taxable income |  | 1,723 |  | 4,235 | 2,655 |
Income tax expense |  | 776 |  | 1,864 | 1,194 |
Total revenue earned |  | 3,857 |  | 7,856 | 6,110 |
Predecessor | Vessel Management Services | Intersegment Elimination |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Total revenue earned |  | (2,156) |  | (4,571) | (2,816) |
Baltic Trading | Minimum |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Aggregate voting power held (as a percent) | 50.00% |  | 50.00% |  |  |
Baltic Trading | United States |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Taxable income | $ 450 |  |  |  |  |
Income tax expense | $ 18 |  |  |  |  |
Baltic Trading | Predecessor | United States |  |  |  |  |  |
Income Taxes |  |  |  |  |  |
Taxable income |  | 965 |  | 832 | 690 |
Income tax expense |  | $ 39 |  | $ 34 | $ 28 |

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