XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.20.1

Commitments and Contingencies | 12 Months Ended
--- | ---
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies (a) Capital expenditure commitments relating to our vessels and vessels under construction are as follows:
Year Ended December 31, |  | Due to Shipyards/Sellers |  | Due to Manager |  | Other Commitments |  | Total
2020 |  | $ | 22,935 |  |  | $ | 605 |  |  | $ | 2,796 |  |  | $ | 26,336 |
2021 |  | — |  |  | — |  |  | 1,646 |  |  | 1,646 |
2022 |  | — |  |  | — |  |  | 616 |  |  | 616 |
2023 |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 22,935 |  |  | 605 |  |  | 5,058 |  |  | 28,598 |
Other commitments represent contracted costs related to the purchase of BWTS and Scrubbers to be installed on certain of our vessels. (b) Other contingent liabilities The Company and its Subsidiaries have not been involved in any legal proceedings, that may have, or have had, a significant effect on their business, financial position, results of operations or liquidity, nor is the Company aware of any proceedings that are pending or threatened that may have a significant effect on its business, financial position, results of operations or liquidity. From time to time various claims, suits and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, shipyards, insurance providers and other claims relating to the operation of the Company’s vessels. Management is not aware of any material claims or contingent liabilities which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements. The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Management is not aware of any such claims or contingent liabilities which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements. A maximum of $1,000,000 of the liabilities associated with the individual vessel actions, mainly for sea pollution, is covered by P&I Club insurance.

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration