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Note 10 - Customer Deposits
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Customer Deposits [Text Block]
10.
Customer Deposits
 
These amounts represent deposits received from charterers as guarantees and are comprised as follows:
 
(a) On
February
24,
2015
an amount of
$1,820,700
was received from the bareboat charterer of Aframax tanker “Stealth Berana” (ex. “Spike”) which is equal to
five
-months hire. This amount will be returned to the charterer at the end of the
thirty
two
months bareboat charter.
 
(b) On
October
12,
2015
an amount of
$736,000
was received from the bareboat charterer of Product carrier “Stealth Falcon” (ex.
“Navig8
Faith”) which is equal to
three
-months hire. This amount will be returned to the charterer at the end of the
three
-year bareboat charter.