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DEBT - $133 Million Credit Facility (Details) $ in Thousands |  |  |  |  | 3 Months Ended | 12 Months Ended |  |
--- | --- | --- | --- | --- | --- | --- | --- | ---
Jun. 15, 2020 USD ($) | Jun. 11, 2020 USD ($) | Nov. 05, 2019 USD ($) | Aug. 14, 2018 USD ($) item | Sep. 30, 2018 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($) | Dec. 31, 2018 USD ($) | Jul. 12, 2018 item | Jun. 06, 2018 item
Repayment of the outstanding debt |  |  |  |  |  |  |  |  |  |
Total debt |  |  |  |  |  | $ 449,228 | $ 495,824 |  |  |
Agreement to Purchase Capesize Drybulk Vessels |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Number of vessels committed to be acquired under purchase agreement | item |  |  |  |  |  |  |  |  | 2 |
$133 Million Credit Facility | Agreement To Purchase Ultramax And Capesize Vessels |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Number of vessels committed to be acquired under purchase agreement | item |  |  |  |  |  |  |  |  |  | 4
$133 Million Credit Facility | Agreement to Purchase Capesize Drybulk Vessels |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Number of vessels committed to be acquired under purchase agreement | item |  |  |  |  |  |  |  |  |  | 2
$133 Million Credit Facility | Agreement To Purchase Ultramax Drybulk Vessels |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Number of vessels committed to be acquired under purchase agreement | item |  |  |  |  |  |  |  |  |  | 2
Secured Debt | $133 Million Credit Facility |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  |  |  | 133,000 |  |  |  |
Term of facilities |  |  |  | 5 years |  |  |  |  |  |
Drawdowns during the period |  |  |  |  |  | 24,000 |  | $ 108,000 |  |
Debt covenant to pay dividends or repurchase stock - Total cash and cash equivalents to total indebtedness (as a percent) |  |  | 18.75% |  |  |  |  |  |  |
Percentage limit of consolidated net income for which dividends can be paid |  |  | 50.00% |  |  |  |  |  |  |
Key covenant - Unrestricted cash and cash equivalents minimum |  |  |  | $ 30,000 |  |  |  |  |  |
Key covenant - Percentage of unrestricted cash to total indebtedness |  |  |  | 7.50% |  |  |  |  |  |
Minimum working capital required |  |  |  | $ 0 |  |  |  |  |  |
Maximum total indebtedness to total capitalization (as a ratio) |  |  |  | 0.70 |  |  |  |  |  |
Remaining borrowing capacity |  |  |  |  |  | 0 |  |  |  |
Repayment of secured debt |  |  |  |  |  | 9,160 | 6,320 | $ 1,580 |  |
Long-term debt |  |  |  |  |  | 113,509 | 98,648 |  |  |
Repayment of the outstanding debt |  |  |  |  |  |  |  |  |  |
2021 |  |  |  |  |  | 14,000 |  |  |  |
2022 |  |  |  |  |  | 14,000 |  |  |  |
2023 |  |  |  |  |  | 86,940 |  |  |  |
Total debt |  |  |  |  |  | 114,940 | $ 100,100 |  |  |
Secured Debt | $108 Million Credit Facility |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  |  |  | $ 108,000 |  |  |  |  |  |
Number of vessels to serve as collateral under debt agreement | item |  |  |  | 6 |  |  |  |  |  |
Drawdowns during the period |  |  |  |  | $ 108,000 |  |  |  |  |
Maximum facility amount of fair market value of aggregate vessels at delivery (as a percent) |  |  |  |  | 45.00% |  |  |  |  |
Repaid value of loan when certain debt terms are met |  |  |  | $ 0 |  |  |  |  |  |
Average age of collateral vessels for repayment of loan |  |  |  | 20 years |  |  |  |  |  |
Amount of periodic payment |  |  |  | $ 1,580 |  |  |  |  |  |
Repayment of the outstanding debt |  |  |  |  |  |  |  |  |  |
Total debt |  |  |  |  |  | $ 114,940 |  |  |  |
Secured Debt | $108 Million Credit Facility | LIBOR |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Reference rate |  |  |  | LIBOR |  |  |  |  |  |
Secured Debt | $108 Million Credit Facility | LIBOR | Through September 30, 2019 |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Applicable margin over reference rate for interest payable |  |  |  | 2.50% |  |  |  |  |  |
Secured Debt | $108 Million Credit Facility | Agreement To Purchase Ultramax And Capesize Vessels |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Number of vessels committed to be acquired under purchase agreement | item |  |  |  | 6 |  |  |  |  |  |
Secured Debt | $108 Million Credit Facility | Agreement to Purchase Capesize Drybulk Vessels |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Number of vessels committed to be acquired under purchase agreement | item |  |  |  | 4 |  |  |  |  |  |
Secured Debt | $108 Million Credit Facility | Agreement To Purchase Ultramax Drybulk Vessels |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Number of vessels committed to be acquired under purchase agreement | item |  |  |  | 2 |  |  |  |  |  |
Secured Debt | Revolver |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Maximum borrowing capacity |  | $ 25,000 |  |  |  |  |  |  |  |
Drawdowns during the period | $ 24,000 |  |  |  |  |  |  |  |  |
Minimum amounts of borrowings |  | 1,000 |  |  |  |  |  |  |  |
Consecutive quarterly commitment reductions |  | $ 1,900 |  |  |  |  |  |  |  |
Threshold percentage of ratio of outstanding loan to aggregate appraised value of collateral vessels. |  | 60.00% |  |  |  |  |  |  |  |
Secured Debt | Revolver | LIBOR |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Reference rate |  | LIBOR |  |  |  |  |  |  |  |
Applicable margin over reference rate for interest payable |  | 3.00% |  |  |  |  |  |  |  |
Secured Debt | Minimum | $133 Million Credit Facility |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Debt covenant to pay dividends or repurchase stock - Total cash and cash equivalents |  |  | $ 100,000 |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  |  | 135.00% |  |  |  |  |  |
Secured Debt | Minimum | $108 Million Credit Facility | LIBOR | Period After September 30, 2019 |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Applicable margin over reference rate for interest payable |  |  |  | 2.25% |  |  |  |  |  |
Secured Debt | Maximum | $133 Million Credit Facility |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Collateral security maintenance test (as a percent) |  |  | 200.00% |  |  |  |  |  |  |
Secured Debt | Maximum | $108 Million Credit Facility | LIBOR | Period After September 30, 2019 |  |  |  |  |  |  |  |  |  |
Line of Credit Facility |  |  |  |  |  |  |  |  |  |
Applicable margin over reference rate for interest payable |  |  |  | 2.75% |  |  |  |  |  |

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