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v3.21.2

Leases (Tables) | 9 Months Ended
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Sep. 30, 2021
Leases |
Schedule of outstanding principal balances on finance lease facility | ​
​ | ​ | ​ | ​ | ​
​ |  | As at
​ |  | September 30, 2021 |  | December 31, 2020
Japanese Leases No.1 and 2 | ​ | 22,886,900 |  | 26,531,100
Japanese Lease No.3 | ​ | 11,338,000 |  | 13,119,000
CMBFL Leases No.1 to 4 | ​ | 66,992,860 |  | 72,459,942
Ocean Yield ASA | ​ | 51,683,760 | ​ | 55,729,620
Japanese Lease No.4 | ​ | 20,456,241 |  | 21,949,099
China Huarong Leases | ​ | 38,530,125 |  | 41,992,081
CMBFL / Shandong | ​ | 67,060,600 | ​ | —
Finance lease obligations | ​ | 278,948,486 |  | 231,780,842
Amounts representing interest and deferred finance fees | ​ | (47,408,400) |  | (34,076,458)
Finance lease obligations, net of interest and deferred finance fees | ​ | 231,540,086 |  | 197,704,384
Current portion of finance lease obligations | ​ | 21,436,253 |  | 19,084,775
Current portion of deferred finance fees | ​ | (711,305) |  | (630,553)
Non-current portion of finance lease obligations | ​ | 213,207,992 |  | 181,250,674
Non-current portion of deferred finance fees | ​ | (2,392,854) |  | (2,000,512)
Total finance lease obligations, net of deferred finance fees | ​ | 231,540,086 |  | 197,704,384
Schedule of future minimum lease payments required under the finance lease facilities | Maturity analysis of the Company’s finance lease facilities for each year are as follows:
​ | ​ | ​
​ | ​ | As at
​ | ​ | September 30, 2021
2021 (1) |  | 8,065,589
2022 |  | 32,164,805
2023 |  | 43,722,900
2024 |  | 29,888,892
2025 |  | 81,557,056
2026 - 2030 |  | 83,549,244
Finance lease obligations |  | 278,948,486
Amounts representing interest and deferred finance fees |  | (47,408,400)
Finance lease obligations, net of interest and deferred finance fees |  | 231,540,086
| (1) | Three-month period ending December 31, 2021

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of the components of the investment in leveraged leases. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121568338&loc=d3e45424-112738 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121579104&loc=SL77920254-209983 + Details
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