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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands |  |  | 3 Months Ended | 6 Months Ended |  |
--- | --- | --- | --- | --- | --- | ---
May 17, 2016 USD ($) | Jul. 17, 2015 segment | Jun. 30, 2016 USD ($) | Jun. 30, 2015 USD ($) | Jun. 30, 2016 USD ($) segment $ / item | Jun. 30, 2015 USD ($) | Jun. 08, 2016 item | Dec. 31, 2015 USD ($)
Segment reporting |  |  |  |  |  |  |  |
Number of reportable segments | segment |  | 2 |  |  | 1 |  |  |
Vessels, net |  |  |  |  |  |  |  |
Estimated useful life |  |  |  |  | 25 years |  |  |
Depreciation expense |  |  | $ 18,541 | $ 18,730 | $ 37,675 | $ 37,697 |  |
Estimated scrap value (in dollars per lightweight ton) | $ / item |  |  |  |  | 310 |  |  |
Deferred revenue |  |  |  |  |  |  |  |
Accrual related to estimated customer claims |  |  | 310 |  | $ 310 |  |  | $ 498
Voyage expense recognition |  |  |  |  |  |  |  |
Net loss on purchase and sale of bunker fuel and LCM adjustments |  |  | 1,508 | 1,566 | 3,805 | 3,858 |  |
Other operating income |  |  |  |  |  |  |  |
Other operating income |  |  | 182 | 0 | 182 | 0 |  |
Impairment of vessel assets |  |  |  |  |  |  |  |
Impairment of vessel assets |  |  | 67,594 | 0 | 69,278 | 35,396 |  |
Number of vessels scrapped | item |  |  |  |  |  |  | 9 |
Loss on disposal of Vessels |  |  |  |  |  |  |  |
Loss on sale of vessels |  |  | 77 | 1,210 | 77 | 1,210 |  |
Samsun |  |  |  |  |  |  |  |
Other operating income |  |  |  |  |  |  |  |
Other operating income |  |  | 157 |  | 157 |  |  |
Baltic Tiger and Baltic Lion | Baltic Trading |  |  |  |  |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |
Impairment of vessel assets |  |  |  | $ 0 |  | $ 35,396 |  |
Genco Marine |  |  |  |  |  |  |  |
Loss on disposal of Vessels |  |  |  |  |  |  |  |
Loss on sale of vessels | $ 77 |  |  |  |  |  |  |
Genco Marine | Genco Marine Limited |  |  |  |  |  |  |  |
Impairment of vessel assets |  |  |  |  |  |  |  |
Impairment of vessel assets |  |  | $ 0 |  | $ 1,684 |  |  |

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- Definition Represents the net gains (losses) resulting from the difference between the cost of bunker fuel delivered by the terminating charterer and the bunker fuel sold to the new charterer and the lower of cost or market adjustment to re-value bunker fuel on a quarterly basis. + References No definition available. + Details
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