XML 59 R12.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Note 6 - Leases | 6 Months Ended
--- | ---
Jun. 30, 2014
Leases, Operating [Abstract] |
Operating Leases of Lessor Disclosure [Text Block] |
6. | Leases:
Future minimum lease payments: The Company's future minimum lease payments required to be made after June 30, 2014, related to the existing at June 30, 2014 leases are as follows:
Year ending December 31, |  | Office Lease |
2014 (Remainder) |  |  | 20 |
2015 |  |  | 41 |
2016 |  |  | 41 |
2017 |  |  | 41 |
2018 |  |  | 41 |
2019 and thereafter |  |  | 246 |
Total |  |  | 430 |
Lease arrangements, under which the Company acts as the lessor Charter agreements: The Company's time charter with Eships Tankers Ltd (Note 1) is classified as an operating lease. Revenues under operating leases are recognized when a charter agreement exists, charter rate is fixed and determinable, the vessel is made available to the lessee and collection of related revenue is reasonably assured. As of June 30, 2014, the Company operated one owned vessel under time charter. Future minimum time-charter receipts, based on vessels committed to non-cancellable time charter contracts, as of June 30, 2014, are as follows:
Year ending December 31, |  | Time Charter receipts |
2014 |  |  | 2,944 |
2015 |  |  | 5,840 |
2016 |  |  | 2,016 |
Total |  |  | 10,800 |

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

X
- Definition The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61901-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37051-112695 + Details
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration