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Fair Value of Financial Instruments and Derivatives Instruments (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Financial Instruments And Derivative Insturments |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | Derivatives not designated as hedging instruments
|  |  |  | Asset Derivatives Fair Values |  | Liability Derivatives Fair Values
Type of Contract |  | Balance sheet location |  | December 31, 2017 |  | December 31, 2018 |  | December 31, 2017 |  | December 31, 2018
Interest Rate |  | Derivative assets / Current assets |  | $ | 62 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest Rate |  | Derivative liabilities / Current liabilities |  | — |  |  | — |  |  | 2 |  |  | — |
|  | Total Derivatives |  | $ | 62 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |
Derivative Instruments, Gain (Loss) |
| Amount of (Loss)/Gain Recognized on Derivatives Year ended December 31,
|  | 2016 |  | 2017 |  | 2018
Interest Rate Contracts |  | $ | (620 | ) |  | $ | 72 |  |  | $ | 18 |
Net (Loss)/Gain Recognized |  | $ | (620 | ) |  | $ | 72 |  |  | $ | 18 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarizes the valuation of the Company’s financial instruments as of December 31, 2017 and 2018.
|  | Significant Other Observable Inputs (Level 2)
|  | December 31,
|  | 2017 |  | 2018
Derivative instruments – asset position |  | $ | 62 |  |  | $ | — |
Derivative instruments – liability position |  | 2 |  |  | — |
Schedule of Derivative Instruments | Details of interest rate swap transactions entered into with certain banks in respect of certain loans and credit facilities as of December 31, 2017 and 2018 are presented in the table below:
|  |  |  |  |  |  |  | Notional amount
Loan or Credit Facility (1) |  | Inception |  | Expiry |  | Fixed Rate |  | December 31, 2017 |  | December 31, 2018
Marindou |  | January 14, 2013 |  | January 16, 2018 |  | 1.6000 | % |  | $ | 18,109 |  |  | $ | — |
Petra |  | January 18, 2013 |  | January 18, 2018 |  | 0.9800 | % |  | 14,000 |  |  | — |
Pemer |  | June 7, 2013 |  | March 7, 2018 |  | 0.9475 | % |  | 14,000 |  |  | — |
Avstes |  | July 18, 2013 |  | April 18, 2018 |  | 1.3500 | % |  | 14,000 |  |  | — |
Shikoku |  | August 28, 2013 |  | August 28, 2018 |  | 1.2500 | % |  | 11,200 |  |  | — |
Total |  |  |  |  |  |  |  | $ | 71,309 |  |  | $ | — |
(1) Under the above swap transactions, the relevant bank effected quarterly floating-rate payments to the Company for the relevant amount based on the three-month USD LIBOR, and the Company effected quarterly payments to the bank on the relevant amount at the respective fixed rates.
Assets Measured at Fair Value on Non-Recurring Basis | The following tables summarize the valuation of assets measured at fair value on a non-recurring basis during the year ended December 31, 2017.
|  | Significant Other Observable Inputs (Level 2) |  | Loss
|  | December 31, 2017 |  | December 31, 2017
M/V Panayiota K |  | $ | 21,600 |  |  | $ | 29,892 |
M/V Efrossini |  | 21,375 |  |  | 12,959 |
M/V Venus History |  | 23,750 |  |  | 19,705 |
M/V Andreas K |  | 20,450 |  |  | 28,737 |
Total |  | $ | 87,175 |  |  | $ | 91,293 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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