XML 50 R24.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Note 18 - Other Non Current Liabilities | 6 Months Ended
--- | ---
Jun. 30, 2014
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] |
Other Liabilities Disclosure [Text Block] |
18. | Other Non Current Liabilities
On October 1, 2010, the Company entered into a bareboat charter agreement to lease vessel M/T Delos until September 30, 2015 for a variable rate per year. On October 15, 2011 the Company terminated the bareboat charter agreement resulting in a termination expense of $5,750. On January 1, 2013 the Company entered into an agreement with the owner of M/T Delos by which the termination fee outstanding as of December 31, 2012 was divided into two tranches, “Tranche A” ($4,500) that bears interest of 3% plus Libor and “Tranche B” ($806) that does not bear interest. This agreement provides for the repayment of Tranche A and Tranche B according to the following schedule.
Year ending December 31, |  | Tranche A of the Termination Fee |  |  | Tranche B of the Termination Fee |
2014 (remainder) |  |  | 540 |  |  |  |
2015 |  |  | 800 |  |  |  |
2016 |  |  | 800 |  |  |  |
2017 |  |  | 1,500 |  |  |  | 806 |
Total |  |  | 3,640 |  |  |  | 806 |
Finally, according to this agreement the Company pays monthly interest payments. As of June 30, 2014 the non-current part of the termination fee is $3,506.

X
- Details
Name: | us-gaap_OtherLiabilitiesAndSharesSubjectToMandatoryRedemptionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_OtherLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration