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Prepaid Charter Revenue | 12 Months Ended
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Dec. 31, 2014
Prepaid Charter Revenue [Abstract] |
Prepaid Charter Revenue | 6. Prepaid Charter Revenue As at December 31, 2014 and 2013 the balance of the account is analyzed as follows:
Description |  | 2014 |  | 2013
a) Deferred asset from varying charter rates | $ | 0 | $ | 192
b) Prepaid charter revenue from time-charter attached |  | 6,364 |  | 17,974
Total | $ | 6,364 | $ | 18,166
The amounts presented as P repaid charter revenue in the accompanying consolidated balance sheets as of December 31, 2014 a nd 2013 comprise (a) a d eferred asset resulting from charter agreements with varying charter rates over their term, for which revenue was recognized on a straight-line basis at their average rates until the time charter agreements expiration, and (b) the unamortized balance of an asset associated wi th vessels acquired with time charters attached at values above their charter-free fair market values at the time of acquisition, which is amortized to revenue over the period of the res pective time charter agreements. As of December 31, 2014, the unamortized balance of the account relates to the vessels “APL Garnet” and “Hanjin Mal ta”, with the earliest redelivery date s of the vessels to the owners as per the respective time charter agreements falling in August 2015 and March 2016, respectively. The movement of the prepaid charter revenue from vessel acquisitions with time-charter attached as of December 31, 2014 and 2013 was as follows:
|  | Gross Amount |  | Accumulated Amortization |  | Net Amount
Balance, December 31, 2012 | $ | 42,000 | $ | (12,204) | $ | $ 29,796
Additions |  | 8,500 |  | - |  | 8,500
Amortization for the period |  | - |  | (20,322) |  | (20,322)
Write-off of fully amortized assets |  | (8,000) |  | 8,000 |  | -
Balance, December 31, 2013 | $ | 42,500 | $ | (24,526) | $ | $ 17,974
Amortization for the period |  | - |  | (11,610) |  | (11,610)
Write-off of fully amortized assets |  | (9,000) |  | 9,000 |  | -
Balance, December 31, 2014 | $ | 33,500 | $ | (27,136) | $ | $ 6,364
The amortization to revenues for 2014, 2013 and 2012 is s eparately reflected in Prepaid charter r evenue amortization in the accompanying consolidated statements of operations. The expected aggregate amortization of the prepaid charter revenue from vessel acquisitions with time-charter attached for each of the succeeding years is as follows:
Period |  | Amount
Year 1 |  | $5,669
Year 2 |  | $695

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