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REVENUE FROM TIME CHARTERS | 6 Months Ended
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Jun. 30, 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 the three months ended June 30, 2016 and 2015, the Company earned $31,460 and $33,772 of voyage revenue, respectively, and for the six months ended June 30, 2016 and 2015, the Company earned $51,590 and $67,381 of voyage revenue, repectively. Included in voyage revenue for the three and six months ended June 30, 2016 was $626 and $630 of profit sharing revenue, respectively. There was no profit sharing revenue earned during the three and six months ended June 30, 2015. Future minimum time charter revenue, based on vessels committed to noncancelable time charter contracts as of August 1, 2016, is expected to be $12,603 for the remainder of 2016 and $2,520 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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