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Deferred Revenue, current

6 Months Ended

Jun. 30, 2015

Deferred Revenue, current [Abstract]

Deferred Revenue, current

6.       Deferred Revenue, Current

The amounts presented as deferred revenue, current in the accompanying consolidated balance sheets as of June 30, 2015 and December 31, 2014 reflect (a) cash received prior to the balance sheet date for which all criteria to recognize as revenue have not been met, (b) deferred revenue resulting from free quantities of lubricants provided to the vessels as a benefit from the suppliers for entering into long-term contracts with them. Deferred revenue under (b) above is amortized to Operating expenses according to the terms of the respective contracts. For the six months ended June 30, 2015 and 2014, amortization of the deferred revenue from free lubricants amounted to $50 and $50, respectively.

			June 30, 2015		December 31, 2014
Hires collected in advance		$	675	$	441
Deferred revenue from lubricants			-		50
	Deferred Revenue, current	$	675	$	491

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- References

No definition available.

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- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 605



-SubTopic 10



-Section S99



-Paragraph 1



-Subparagraph (SAB TOPIC 13.A.3(b).Q1(c),(b).Q2,(c).Q3)



-URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 210



-SubTopic 10



-Section 45



-Paragraph 8



-Subparagraph (b)



-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6935-107765



Reference 3: http://www.xbrl.org/2003/role/presentationRef



-Publisher SEC



-Name Staff Accounting Bulletin (SAB)



-Number Topic 13



-Section A

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