As of December 31, | |||||||
In thousands of U.S. dollars | 2017 | 2016 | |||||
Less than 1 year | $ | 52,532 | $ | 57,018 | |||
1 - 5 years | 42,839 | 30,933 | |||||
5+ years | 22,264 | — | |||||
Total | $ | 117,635 | $ | 87,951 | |||
Name | Year built | Vessel class | Charter type | Delivery (1) | Charter Expiration | Rate ($/ day) | ||||||||||
Active as of December 31, 2017 | ||||||||||||||||
1 | Kraslava | 2007 | Handymax | Time Charter | January-11 | May-18 | 11,250 | (2) | ||||||||
2 | Krisjanis Valdemars | 2007 | Handymax | Time Charter | February-11 | March-18 | 11,250 | (3) | ||||||||
3 | Silent | 2007 | Handymax | Bareboat | January-17 | March-19 | 7,500 | (4) | ||||||||
4 | Single | 2007 | Handymax | Bareboat | January-17 | March-19 | 7,500 | (4) | ||||||||
5 | Star I | 2007 | Handymax | Bareboat | January-17 | March-19 | 7,500 | (4) | ||||||||
6 | Steel | 2008 | Handymax | Bareboat | January-17 | March-19 | 6,000 | (5) | ||||||||
7 | Sky | 2008 | Handymax | Bareboat | January-17 | March-19 | 6,000 | (5) | ||||||||
8 | Stone I | 2008 | Handymax | Bareboat | January-17 | March-19 | 6,000 | (5) | ||||||||
9 | Style | 2008 | Handymax | Bareboat | January-17 | March-19 | 6,000 | (5) | ||||||||
10 | STI Beryl | 2013 | MR | Bareboat | April-17 | April-25 | 8,800 | (6) | ||||||||
11 | STI Le Rocher | 2013 | MR | Bareboat | April-17 | April-25 | 8,800 | (6) | ||||||||
12 | STI Larvotto | 2013 | MR | Bareboat | April-17 | April-25 | 8,800 | (6) | ||||||||
13 | Vukovar | 2015 | MR | Time Charter | May-15 | May-18 | 17,034 | |||||||||
14 | Zefyros | 2013 | MR | Time Charter | July-16 | June-18 | 13,250 | (7) | ||||||||
15 | Gan-Trust | 2013 | MR | Time Charter | January-13 | January-19 | 13,050 | (8) | ||||||||
16 | CPO New Zealand | 2011 | MR | Time Charter | September-16 | September-18 | 15,250 | (9) | ||||||||
17 | CPO Australia | 2011 | MR | Time Charter | September-16 | September-18 | 15,250 | (9) | ||||||||
18 | Ance | 2006 | MR | Time Charter | October-16 | October-18 | 13,500 | (10) | ||||||||
19 | Densa Crocodile | 2015 | LR2 | Time Charter | June-17 | July-18 | 14,750 | (11) | ||||||||
Time or bareboat charters that expired in 2017 | ||||||||||||||||
1 | Densa Crocodile | 2015 | LR2 | Time Charter | February-15 | January-17 | 22,600 | |||||||||
2 | Miss Mariarosaria | 2011 | MR | Time Charter | May-15 | May-17 | 16,350 | |||||||||
3 | Targale | 2007 | MR | Time Charter | May-12 | May-17 | 16,200 | |||||||||
4 | Hellespont Progress | 2006 | LR1 | Time Charter | March-14 | May-17 | 17,250 | |||||||||
5 | Densa Alligator | 2013 | LR2 | Time Charter | September-13 | September-17 | 14,360 | |||||||||
(1) | Represents delivery date or estimated delivery date. |
(2) | In February 2017, we entered into a new time charter-in agreement for one year at $11,250 per day effective May 2017. We have an option to extend the charter for an additional year at $13,250 per day. |
(3) | In February 2017, we entered into a new time charter-in agreement for one year at $11,250 per day effective March 2017. We have an option to extend the charter for an additional year at $13,250 per day. |
(4) | In December 2016, we entered into an agreement to cancel the time charter agreement for this vessel and enter into a new bareboat charter agreement. The time charter-in contract was cancelled in January 2017 and replaced by the new bareboat contract at a rate of $7,500 per day. The agreement includes a purchase option which can be exercised through December 31, 2018. If the purchase option is not exercised, the bareboat-in agreement will expire on March 31, 2019. |
(5) | In December 2016, we entered into an agreement to bareboat-in this vessel at a rate of $6,000 per day. The agreement includes a purchase option which can be exercised through December 31, 2018. If the purchase option is not exercised, the bareboat-in agreement will expire on March 31, 2019. |
(6) | In April 2017, we sold and leased back this vessel, on a bareboat basis, for a period of up to eight years for $8,800 per day. The sales price was $29.0 million and we have the option to purchase this vessel beginning at the end of the fifth year of the agreement through the end of the eighth year of the agreement, at market based prices. Additionally, a deposit of $4.35 million was retained by the buyer and will either be applied to the purchase price of the vessel if a purchase option is exercised, or refunded to us at the expiration of the agreement. |
(7) | In November 2017, we declared the option to extend the time charter-in agreement for an additional six months at $13,250 per day effective December 2017. We have an option to extend the charter for an additional year at $14,500 per day. |
(8) | In November 2017, we extended the time charter-in agreement for one year at $13,950 per day effective January 2018. We have an option to extend the charter for an additional year at $15,750 per day. |
(9) | We have an option to extend the charter for an additional year at $16,000 per day. |
(10) | In August 2017, we entered into a new time charter-in agreement for one year at $13,500 per day. We have an option to extend the charter for an additional year at $15,000 per day. |
(11) | In November 2017, we declared the option to extend this time charter for an additional six months at $15,750 per day effective January 2018. |