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REVENUE FROM TIME CHARTERS | 3 Months Ended
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Mar. 31, 2016
REVENUE FROM TIME CHARTERS |
REVENUE FROM TIME CHARTERS | 15 — 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 for the three months ended March 31, 2016 and 2015, the Company earned $20,131 and $33,609 of voyage revenue, respectively. Included in voyage revenue for the three months ended March 31, 2016 and 2015 was $4 and $0 of profit sharing revenue, respectively. Future minimum time charter revenue, based on vessels committed to noncancelable time charter contracts as of May 4, 2016, is expected to be $12,559 for the remainder of 2016 and $1,169 for the year ended December 31, 2017, 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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- References No definition available. + Details
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