XML 69 R51.htm IDEA: XBRL DOCUMENT v2.4.1.9
RELATED PARTY TRANSACTIONS (Details) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Related Party Transaction [Line Items]      
Due To Related Parties Current $ 59,102,077us-gaap_DueToRelatedPartiesCurrent $ 7,616,248us-gaap_DueToRelatedPartiesCurrent  
Debt Instrument, Unamortized Discount   (16,433,108)us-gaap_DebtInstrumentUnamortizedDiscount  
Due to Related Parties, Noncurrent 0us-gaap_DueToRelatedPartiesNoncurrent 17,303,918us-gaap_DueToRelatedPartiesNoncurrent  
Accounts Payable and Accrued Liabilities [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 203,050us-gaap_DueToRelatedPartiesCurrent
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203,050us-gaap_DueToRelatedPartiesCurrent
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294,334us-gaap_DueToRelatedPartiesCurrent
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(91,284)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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Accounts Payable and Accrued Liabilities [Member] | Founders [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 203,050us-gaap_DueToRelatedPartiesCurrent
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203,050us-gaap_DueToRelatedPartiesCurrent
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203,050us-gaap_DueToRelatedPartiesCurrent
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Accounts Payable and Accrued Liabilities [Member] | Affiliated Companies [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 0us-gaap_DueToRelatedPartiesCurrent
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91,284us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt 0us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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(91,284)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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Related Party Long-term Debt [Member]      
Related Party Transaction [Line Items]      
Proceeds from (Repayments of) Related Party Debt (17,303,918)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[1] 17,303,918us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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Due to Related Parties, Noncurrent 0us-gaap_DueToRelatedPartiesNoncurrent
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17,303,918us-gaap_DueToRelatedPartiesNoncurrent
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0us-gaap_DueToRelatedPartiesNoncurrent
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Related Party Long-term Debt [Member] | Loans Payable [Member]      
Related Party Transaction [Line Items]      
Proceeds from (Repayments of) Related Party Debt 16,756,054us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[1] (16,756,054)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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Debt Instrument, Unamortized Discount 0us-gaap_DebtInstrumentUnamortizedDiscount
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(16,756,054)us-gaap_DebtInstrumentUnamortizedDiscount
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0us-gaap_DebtInstrumentUnamortizedDiscount
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Related Party Long-term Debt [Member] | Loans Payable [Member] | Loan Payable BVH shareholder STST [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 0us-gaap_DueToRelatedPartiesCurrent
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17,030,000us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt (17,030,000)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[2] 17,030,000us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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Related Party Long-term Debt [Member] | Loans Payable [Member] | Loan Payable NBHC shareholder ASO2020 [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 0us-gaap_DueToRelatedPartiesCurrent
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17,029,972us-gaap_DueToRelatedPartiesCurrent
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0us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt (17,029,972)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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Related Party Debt Current [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 59,102,077us-gaap_DueToRelatedPartiesCurrent
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7,616,248us-gaap_DueToRelatedPartiesCurrent
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20,395,323us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt 51,485,829us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[1] (12,779,075)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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Related Party Debt Current [Member] | Loans Payable [Member] | Loan Payable 2011 Founders Note [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 4,325,000us-gaap_DueToRelatedPartiesCurrent
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4,325,000us-gaap_DueToRelatedPartiesCurrent
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4,325,000us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt 0us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[2]  
Related Party Debt Current [Member] | Loans Payable [Member] | Interest Payable 2011 Founders Note [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 334,605us-gaap_DueToRelatedPartiesCurrent
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296,248us-gaap_DueToRelatedPartiesCurrent
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341,916us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt 38,357us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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(45,668)us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[4]  
Related Party Debt Current [Member] | Loans Payable [Member] | Loan Payable BVH shareholder STST [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 4,442,500us-gaap_DueToRelatedPartiesCurrent
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2,995,000us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt 1,447,500us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[5]  
Related Party Debt Current [Member] | Loans Payable [Member] | Loan Payable NBHC shareholder STST [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 22,500,000us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt 22,500,000us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[5]  
Related Party Debt Current [Member] | Loans Payable [Member] | Loan Payable NBHC shareholder ASO2020 [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 22,499,972us-gaap_DueToRelatedPartiesCurrent
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Related Party Debt Current [Member] | Loans Payable [Member] | Interest Payable 2012 Founders Note Member [Member]      
Related Party Transaction [Line Items]      
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[4]  
Related Party Debt Current [Member] | Loans Payable [Member] | Loan Payable To Founders [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current 5,000,000us-gaap_DueToRelatedPartiesCurrent
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Proceeds from (Repayments of) Related Party Debt 5,000,000us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
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[6]  
Related Party Debt Current [Member] | Loans Payable [Member] | Loan Payable 2012 Founders Note [Member]      
Related Party Transaction [Line Items]      
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[6]  
STST [Member]      
Related Party Transaction [Line Items]      
Due To Related Parties Current   17,030,000us-gaap_DueToRelatedPartiesCurrent
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STST [Member] | Related Party Debt Current [Member] | Loans Payable [Member] | Orion [Member]      
Related Party Transaction [Line Items]      
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[2]  
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Related Party Transaction [Line Items]      
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[2]  
[1] The unamortized discount at December 31, 2103 was reduced by imputed interest of $322,946 in the first quarter, prior to the amendment of the loan. The net unamortized discount on April 1, 2014 of $16,433,108 has been recorded as a reduction of noncontrolling interest due to the debt modification.
[2] Loans payable to STST were converted to long-term debt in conjunction with the restructuring of Odyssey and Orion in 2013 (see Note 1). In 2013, STST provided an additional $4,530,000 (to NBHC) for a total of $17,030,000, which was payable in January 2023. On April 1, 2014, the loans were amended to remove the maturity dates and have therefore been reclassified as current.
[3] In 2013, ASO 2020 Maritime S.A. ("ASO2020") provided $17,029,972 as funding for newbuildings under construction. On April 1, 2014, the loans were amended to remove the maturity dates and have therefore been reclassified to current.
[4] Paid in cash
[5] BVH shareholder contribution of $5,000 and loans of $2,995,000 and $1,447,500 entered into for purposes of providing cash deposits on ultramax newbuildings.
[6] Paid through issuance of convertible redeemable preferred stock