20-F/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F/A

(Amendment No. 1)

(Mark One)

[  ]	REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
[X]	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the fiscal year ended December 31, 2017
OR
[  ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from _________________ to _________________
OR
[  ]	SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	Date of event requiring this shell company report _________________

Commission file number: 001-37947

HUNTER MARITIME ACQUISITION CORP.

(Exact name of Registrant as specified in its charter)

(Translation of Registrant's name into English)

The Republic of the Marshall Islands

(Jurisdiction of incorporation or organization)

c/o MI Management Company, Trust Company Complex, Suite 206, Ajeltake Road, P.O. Box 3055, Majuro, Marshall Islands, MH96960

(Address of principal executive offices)

Alexander Saverys, Chief Executive Officer, De Gerlachekaai 20, BE 2000, Antwerp, Belgium,

011-323-247-59-11

(Name, Telephone, E-mail and/or Facsimile, and address of Company Contact Person)

Securities registered or to be registered pursuant to section 12(b) of the Act.

Title of each class	Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share	The Nasdaq Stock Market LLC
Warrants to purchase one share of Class A Common Stock	The Nasdaq Stock Market LLC
Units, each consisting of one share of Class A Common Stock and one-half of one Warrant	The Nasdaq Stock Market LLC

Securities registered or to be registered pursuant to section 12(g) of the Act.

NONE

(Title of class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

NONE

(Title of class)

Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report.

As of December 31, 2017, there were outstanding 15,173,100 Class A common shares, par value $0.0001 per share, and 3,793,275 Class B common shares, par value $.0001 per share.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes  ☐ No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes  ☐ No ☒

Note – Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No  ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☒ No  ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerging growth Company.  See the definitions of "large accelerated filer," "accelerated filer" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐	Accelerated filer  ☐
Non-accelerated filer	Emerging growth company  ☒
(Do not check if a smaller reporting company)   ☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.     ☐

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

☐	U.S. GAAP
☒	International Financial Reporting Standards as issued by the international Accounting Standards Board
☐	Other

If "Other" has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow:

Item 17 ☐ Item 18            ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☒ No  ☐

EXPLANATORY NOTE

This Amendment No. 1 to the Annual Report on Form 20-F (this "Amendment") of Hunter Maritime Acquisition Corp. (the "Company") for the fiscal year ended December 31, 2017, originally filed with the U.S. Securities and Exchange Commission on March 30, 2018 (the "Original 20-F"), is being filed solely for the purposes of adding Exhibit 101 to Item 19 "Exhibits," which was not included in the Original 20-F, and to furnish the Interactive Data File disclosure as Exhibit 101 in accordance with Rule 405 of Regulation S-T.

Except as described above, this Amendment does not amend any information set forth in the Original 20-F, and the Company has not updated disclosures included therein to reflect any events that occurred subsequent to March 30, 2018.

EXHIBIT INDEX

Exhibit	Description
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

SIGNATURES

The registrant hereby certifies that it meets all of the requirements for filing this Amendment No. 1 to Form 20-F and has duly caused and authorized the undersigned to sign this Amendment No. 1 to Form 20-F on its behalf.

Hunter Maritime Acquisition Corp.
By:	/s/ Alexander Saverys
	Name: Alexander Saverys
	Title: Chief Executive Officer

Date:  April 24, 2018

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Document and Entity Information	12 Months Ended
	Dec. 31, 2017 shares
Entity Information [Line Items]
Entity Registrant Name	Hunter Maritime Acquisition Corp.
Entity Central Index Key	0001679450
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Class A Common Shares [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	15,173,100
Class B Common Shares [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	3,793,275

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION - USD ($)	Dec. 31, 2017	Dec. 31, 2016
ASSETS
CURRENT ASSETS	$ 152,731,518	$ 153,590,747
Trade and other receivables	920	0
Prepaid expenses	180,582	0
Cash and cash equivalents	152,550,016	153,590,747
Cash	447,616	1,823,321
Cash and cash equivalents (trust account)	152,102,400	151,767,426
TOTAL ASSETS	152,731,518	153,590,747
EQUITY and LIABILITIES
EQUITY	5,000,001	5,000,001
Equity attributable to owners of the Company	5,000,001	5,000,001
Share capital	422	470
Additional paid-in capital	9,342,579	8,959,926
Retained earnings	(4,343,000)	(3,960,395)
NON-CURRENT LIABILITIES	0	147,830,224
Common stock subject to possible redemption	0	147,830,224
CURRENT LIABILITIES	147,731,517	760,522
Common stock subject to possible redemption	147,447,619	0
Trade and other payables	283,898	760,522
TOTAL EQUITY and LIABILITIES	$ 152,731,518	$ 153,590,747

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CONSOLIDATED INCOME STATEMENT - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017
CONSOLIDATED INCOME STATEMENT [Abstract]
General and administrative expenses	$ (397,367)	$ (1,324,088)
Result from operating activities	(397,367)	(1,324,088)
Finance income	31,808	1,084,213
Finance expenses	(33,315)	(103,531)
Net finance income/(expense)	(1,507)	980,682
Profit/(Loss) before tax	(398,874)	(343,406)
Income tax expense	0	(39,199)
Profit/(Loss) for the period	(398,874)	(382,605)
Attributable to:
Owners of the Company	(398,874)	(382,605)
Non-controlling interest	$ 0	$ 0
Earnings per share
Basic earnings per share (in dollars per share)	$ (0.1052)	$ (0.1009)
Diluted earnings per share (in dollars per share)	$ (0.1052)	$ (0.1009)

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CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME [Abstract]
Profit/(Loss) for the period	$ (398,874)	$ (382,605)
Items that will not be reclassified to profit or loss:
Other comprehensive income that will not be reclassified to profit or loss, before tax	0	0
Items that are or may be reclassified subsequently to profit or loss:
Other comprehensive income that will be reclassified to profit or loss, before tax	0	0
Other comprehensive income, net of tax	0	0
Total comprehensive income for the period	(398,874)	(382,605)
Attributable to:
Owners of the Company	(398,874)	(382,605)
Non-controlling interest	$ 0	$ 0

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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)	Total	Share Capital [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balance, beginning of period at Jun. 23, 2016	$ 0	$ 0	$ 0	$ 0
Total comprehensive income
Profit/(Loss) for the period	(398,874)	0	0	(398,874)
Other comprehensive income	0	0	0	0
Total comprehensive income for the period	(398,874)	0	0	(398,874)
Contributions and distributions
Issue of shares	5,398,875	470	8,959,926	(3,561,521)
Total contributions and distributions	5,398,875	470	8,959,926	(3,561,521)
Total transactions with owners of the Company	5,398,875	470	8,959,926	(3,561,521)
Balance, end of period at Dec. 31, 2016	5,000,001	470	8,959,926	(3,960,395)
Total comprehensive income
Profit/(Loss) for the period	(382,605)	0	0	(382,605)
Other comprehensive income	0	0	0	0
Total comprehensive income for the period	(382,605)	0	0	(382,605)
Contributions and distributions
Forfeiture of shares	(52)	(52)		0
Contribution from common stock subject to possible redemption	382,657	4	382,653
Total contributions and distributions	382,605	(48)	382,653	0
Total transactions with owners of the Company	382,605	(48)	382,653	0
Balance, end of period at Dec. 31, 2017	$ 5,000,001	$ 422	$ 9,342,579	$ (4,343,000)

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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017
CONSOLIDATED STATEMENT OF CASH FLOWS [Abstract]
Cash and cash equivalents at the beginning of the period	$ 0	$ 153,590,747
Profit/(Loss) for the period	(398,874)	(382,605)
Net finance expense/(income)	1,507	(980,682)
Changes in trade and other receivables	0	(920)
Changes in prepaid expenses	0	(180,582)
Changes in trade and other payables	284,496	(476,624)
Tax expense	0	39,199
Interest and financial charges paid	(33,263)	(93,131)
Interest received	31,808	1,074,216
Income taxes paid	0	(39,199)
Net cash from/(used in) operating activities	(114,326)	(1,040,328)
Net cash from/(used in) investing activities	0	0
Proceeds from issue of share capital	25,000	0
Proceeds from initial public offering (held in trust account)	151,731,000	0
Proceeds from issuance of warrants	5,034,620	0
Transaction costs recognized as a deduction from retained earnings	(3,085,495)	0
Proceeds from loans from related parties	150,000	0
Repayment of loans from related parties	(150,000)	0
Net cash from/(used in) financing activities	153,705,125	0
Effect of changes in exchange rates	(52)	(403)
Net cash and cash equivalents at the end of the period	$ 153,590,747	$ 152,550,016

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Organization and Business Operations

12 Months Ended

Dec. 31, 2017

Organization and Business Operations [Abstract]

Organization and Business Operations

1. Organization and Business Operations

Incorporation and Business Purpose

Hunter Maritime Acquisition Corp. (the "Company") was incorporated in the Republic of the Marshall Islands on June 24, 2016. The Company's registered address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.

The Company was formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, debt acquisition, stock purchase, reorganization or other similar business combination, vessels, vessel contracts (including contracts for the purchase and charter-in by the Company of vessels) or one or more operating businesses in the international maritime shipping industry, or one or more different sectors that may be unrelated to the shipping industry, that it has not yet identified ("Initial Business Combination").   As of December 31, 2017, the Company had not commenced any operations. The Company will not generate any operating revenues until after completion of its Initial Business Combination, at the earliest.  The Company has until November 23, 2018, the date which is 24 months following the completion of its Public Offering (discussed below), to complete its Initial Business Combination.

Financing

On July 11, 2016, Bocimar Hunter NV, the Company's sponsor (the "Sponsor") purchased 4,312,500 Class B Common Shares of the Company (the "Founder Shares") for $25,000, or $0.006 per share.

On November 23, 2016 (the "Closing Date"), the Company closed its initial public offering of 15,000,000 units (the "Units") at $10.00 per Unit, each Unit consisting of one Class A common share of the Company, par value $0.0001 per share (the "Class A Common Shares") and one-half of one warrant (the "Warrants"), each whole Warrant entitling the holder thereof to purchase one Class A Common Share at $11.50 (the "Public Offering").  The Company also granted the underwriters of the Public Offering a 45-day option to purchase up to 2,250,000 additional Units to cover overallotments (the "Over-allotment Option").  The Class A Common Shares sold as part of the Units in the Public Offering are sometimes referred to herein as the "Public Shares."

At the Closing Date, the Sponsor purchased an aggregate of 3,333,333 warrants (the "Private Placement Warrants") at a purchase price of $1.50 per warrant, or $5,000,000 in the aggregate, in a private placement (the "Private Placement"). The Private Placement Warrants are included under the heading Additional paid-in capital on the Consolidated Statement of Financial Position.

As of the Closing Date, after paying an underwriting fee of $3,000,000 and retaining funds designated for Public Offering expenses and operational use of $2,000,000, the remaining net proceeds of $150,000,000 were deposited in a trust account with Continental Stock Transfer and Trust Company acting as trustee (the "Trust Account") as described below.

On December 16, 2016, the Company completed the sale of an additional 173,100 units (the "Additional Units") of the Company to the underwriters of its Public Offering at the public offering price per unit pursuant to a partial exercise of the Over-allotment Option granted to the underwriters in connection with the Public Offering. Each unit consists of one Class A common share and one half of one warrant of the Company. Each whole warrant entitles the holder thereof to purchase one Class A common share for $11.50 per share. The Company received $1,696,380 in net proceeds from the sale, which included $60,585 in the aggregate payable to the underwriters for deferred underwriting commissions.

In connection with the sale of the Additional Units, the Company completed the private sale of an additional 23,080 warrants (the "Additional Private Placement Warrants") to Sponsor at a purchase price of $1.50 per Additional Private Placement Warrant, generating gross proceeds to the Company of $34,620. The Additional Private Placement Warrants are included under the heading Additional paid-in capital on the Consolidated Statement of Financial Position.

A total of $1,731,000, comprised of the net proceeds of the sale of the Additional Units and the proceeds of the sale of the Additional Private Placement Warrants, was placed in the Trust Account.

On January 2, 2017, the over-allotment option on the Company's shares offered in the IPO expired.

The Company's sponsor, Bocimar Hunter NV, forfeited 519,225 class B Common shares or Founder Shares.  These shares were subsequently cancelled.

The Company has neither engaged in any operations nor generated significant revenue to date. The Company's only activities between inception and the closing of its Public Offering were organizational activities and those necessary to prepare for and close the Public Offering.  Since the consummation of the Public Offering, the Company's activity has been limited to evaluating candidates for its Initial Business Combination.

Fiscal Year End

The Company has selected December 31 as its fiscal year end.

The Trust Account

The Trust Account is a segregated account at KBC Bank located in Belgium into which the net proceeds from the Public Offering and the sale of the Private Placement Warrants were deposited in accordance with an Investment Management Trust Agreement by and among the Company, KBC Bank and Continental Stock Transfer & Trust Company ("Continental") and pursuant to which Continental is acting as trustee. The Trust Account will be invested only in permitted United States "government securities" within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the "Investment Company Act"), having a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act.  At December 31, 2017, the Trust Account consisted of investments in US Treasury bills with maturity date January 10, 2018.

The Company's amended and restated articles of incorporation provide that, other than the withdrawal of investment earnings earned on the Trust Account to pay taxes or to fund working capital requirements, none of the funds held in the trust account will be released until the earlier of (i) the completion of the Company's Initial Business Combination, (ii) the redemption of the Public Shares if the Company is unable to complete the Initial Business Combination within 24 months from the closing of the Public Offering, subject to applicable law, or (iii) the redemption of the Public Shares properly submitted in connection with a shareholder vote to approve an amendment to the Company's amended and restated articles of incorporation that would affect the substance or timing of its obligation to redeem 100% of the Public Shares if the Company has not consummated an Initial Business Combination within 24 months from the closing of the Public Offering.

Business Combination

The Company's management has broad discretion with respect to the specific application of the net proceeds of the Public Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be generally applied toward completing the Initial Business Combination. There is no assurance that the Company will be able to successfully complete the Initial Business Combination.

The Company will provide its public shareholders with the opportunity to redeem all or a portion of their Public Shares, (i) if the Company is a foreign private issuer ("FPI"), upon the completion of the Initial Business Combination, by means of a tender offer in accordance with the U.S. tender offer rules or, (ii) if the Company is not an FPI, either, (A) in connection with a shareholder meeting called to approve the Initial Business Combination, in conjunction with a proxy solicitation for such meeting pursuant to the U.S. proxy rules or, (B) by means of a tender offer, in each case, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, less taxes payable and any amounts released to the Company to fund working capital requirements.  However, in no event will the Company redeem its Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate business combination.

The Company will only have 24 months from the closing of the Public Offering, being November 23, 2016, to consummate an Initial Business Combination. If the Company does not complete the Initial Business Combination within this period of time, it shall, (i) cease all operations except for the purposes of winding up, (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the Public Shares for a per-share pro rata portion of the Trust Account, less taxes payable (less up to $100,000 of such net interest to pay dissolution expenses) and, (iii) as promptly as possible following such redemption, subject to the approval of the Company's remaining shareholders and Board of Directors, dissolve and liquidate the balance of the Company's net assets to its remaining shareholders, as part of its plan of dissolution and liquidation, subject to applicable law. The Sponsor entered into a letter agreement with the Company, pursuant to which it has waived its rights to participate in any redemption with respect to the Founder Shares (as defined below); however, if the Sponsor or any of the Company's officers, directors or affiliates acquire Class A Common Shares in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account upon the Company's redemption or liquidation in the event the Company does not complete the Initial Business Combination within the required time period.

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Measurement and Basis of Presentation - Statement of Compliance - Accounting policies

12 Months Ended

Dec. 31, 2017

Measurement and Basis of Presentation - Statement of Compliance - Accounting policies [Abstract]

Measurement and Basis of Presentation - Statement of Compliance - Accounting policies

2. Measurement and Basis of Presentation - Statement of Compliance - Accounting policies

These Consolidated Financial Statements have been prepared in accordance with IFRS. They were authorized for issue by the Company's board of directors on March 29, 2018.

The Consolidated Financial Statements of the Company for the year ended December 31, 2017, comprise the Company and its wholly owned subsidiaries Hamburg Maritime NV (incorporated under Belgian law on May 15, 2017, with its registered address on De Gerlachekaai 20, 2000 Antwerpen) and Maritime Partner BVBA (incorporated under Belgian law on May 9, 2017, with it's registered address on De Gerlachekaai 20, 2000 Antwerpen).

The accompanying Consolidated Financial Statements of the Company are presented in U.S. dollars (USD), which is the functional and presentation currency, in conformity with International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board (the "IASB") and pursuant to the rules and regulations of the SEC.  All financial data presented in USD has been rounded to the nearest unit except for per share data.

Subsidiaries are fully consolidated from the date of acquisition, being the date on which the Group obtains control, and continue to be consolidated until the date such control ceases.

Accounting policies with respect to the Consolidated Statement of Financial Position, the Consolidated Income Statement, the Consolidated Statement of Profit or Loss and Other Comprehensive Income and the Consolidated Statement of Cash Flows and any disclosures thereto have been disclosed in the notes to the Consolidated Financial Statements.

Significant events that took place during 2017

January 2017
January 2, 2017	The Over-allotment Option on the Company's Class A Common Shares as part of the Public Offering expired.
January 3, 2017	The Sponsor forfeited 519,225 Class B Common Shares.  These shares were subsequently cancelled.
January 9, 2017	The Class A Common Shares and Warrants underlying the Units sold in the Public Offering began to trade separately.
April 2017
April 26, 2017	The Company entered into definitive agreements for the purchase of five identified capesize vessels (the "Capesize Vessels").
April 27, 2017	The Company commenced a Tender Offer to purchase up to 8,233,100 of its Class A Common Shares (the "Tender Offer").  The Tender Offer was extended twice, on May 25 and June 5, 2017.
May 2017
May 9, 2017	Incorporation of Maritime Partner BVBA, a wholly owned subsidiary of the Company.  HMAC contributed in cash for 13.501 USD equivalent to 100 shares out of the 100 shares issued by Maritime Partner BVBA. Currently, there are not yet operational activities within this subsidiary.
May 15, 2017	Incorporation of Hamburg Maritime NV, a wholly owned subsidiary of the Company.  HMAC contributed in cash for 67.478 USD equivalent to 99.999 shares out of the 100.000 shares issued by Maritime Partner BVBA. 1 share is held by Maritime Partner BVBA. Currently, there are not yet operational activities within this subsidiary.
June 2017
June 12, 2017	The Company terminated the Tender Offer, and consequently cancelled its purchase of the Capesize Vessels.

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Use of Estimates and Assumptions

12 Months Ended

Dec. 31, 2017

Use of Estimates and Assumptions [Abstract]

Use of Estimates and Assumptions

3. Use of Estimates and Assumptions

The preparation of Consolidated Financial Statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Statement of Financial Position.  Actual results could differ from those estimates.  Estimates and underlying assumptions are reviewed on an ongoing basis.  Revisions to estimates are recognized prospectively.

As of December 31, 2016, the Common stock subject to possible redemption has been classified as a non-current liability considering the following:

- The Company cannot prevent a future cash outflow,

- The Public Shares are not the most subordinate, since a.o. the Founder Shares are non-redeemable (and thus more subordinate), and

- In case of redemption, the Public Shares only have right to their pro-rata share in the Trust Account and not on  all net assets of the Company.

The Public Shares subject to possible redemption will only convert into equity following the completion of the Initial Business Combination for which the Company has a period of 24 months to complete.

Taking into account that the 24 months period the Company has to complete an Initial Business Combination ends on November 23, 2018, the Common stock subject to possible redemption has been reclassified as a current liability as of December 31, 2017.

Bearing in mind the fact that the Company has the intention and ability to complete an Initial Business Combination before November 23, 2018, the Consolidated Financial Statements of the Company as of December 31, 2017, have been prepared on a going concern basis.  The funds available to us outside of the trust account are sufficient to allow us to operate at least until November 23, 2018 (the date which is 24 months following our IPO), assuming that our initial business combination is not completed during that time.  We expect to continue to incur costs in pursuit of our acquisition plans.

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Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2017

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

4. Cash and cash equivalents

Cash and cash equivalents includes an amount of $152,102,400 (2016: $151,767,426) that is being held in the Trust Account (see also Note 1) and can be detailed as follows:

in USD	2017		2016
Cash		246,045		4,933
Held-to-maturity investments		151,856,355		151,762,493
Total cash equivalents		152,102,400		151,767,426

The increase in cash held in the trust accounts is mainly explained by interest earned on the amount held in the trust account.

The Held-to-maturity investments represent the fair value at December 31, 2017, of 151,903,000 units of US Treasury bills that will mature on January 10, 2018 and are recognized at amortized cost. 

Other cash balances amounting to $447,616 (2016: $1,823,321).  The decrease compared to the preceding accounting year is mainly explained by the settlement in cash of offering expenses and general and administrative expenses.

Including the amount being held in the Trust Account, Cash and cash equivalents amounts to $152,550,016 as of December 31, 2017, compared to $153,590,747 as of December 31, 2016.

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Equity and Non-current Liabilities

12 Months Ended

Dec. 31, 2017

Equity and Non-current Liabilities [Abstract]

Equity and Non-current Liabilities

5. Equity and non-current liabilities

Common Stock

The Company is authorized to issue up to 500,000,000 shares of common stock, consisting of (i) 400,000,000 Class A Shares and (ii) 100,000,000 shares of Class B common stock, par value $0.0001 per share (the "Class B Shares").  At December 31, 2017, there were issued and outstanding 15,173,100 Class A Shares and 3,793,275 Class B Shares, compared to 15,173,100 Class A shares and 4,312,500 Class B Shares as of December 31, 2016 (see also Note 11).

The Class B Shares will automatically convert into Class A Shares on the first business day following the consummation of the Initial Business Combination on a one-for-one basis, subject to adjustment pursuant to the Company's Amended and Restated Articles of Incorporation.

At December 31, 2017, 14,744,762 shares were subject to redemption in connection with the Initial Business Combination (at an anticipated redemption value of $10.00 per share).  A total amount of $147,447,619 has been accounted for as a current liability (see also Note 3).

Our articles of incorporation do not provide a specified maximum redemption threshold, except that in no event will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 (such that we are not subject to the SEC's "penny stock" rules) or any greater net tangible asset or cash requirement which may be contained in the agreement relating to our Initial Business Combination.  As a result, Common stock subject to possible redemption decreased by $382,605 compared to December 31, 2016.

Preferred Stock

The Company is authorized to issue up to 50,000,000 shares of preferred stock, par value $0.0001 per share (the "Preferred Shares"), with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. At December 31, 2017 and December 31, 2016, there were no Preferred Shares issued and outstanding.

Transaction Costs

The following transaction costs were recorded as a deduction from retained earnings:

in USD	2017		2016
Fees		-		6,193
Offering expenses		-		3,555,329
Total fees and expenses		-		3,561,521

Offering expenses comprise all expenses related to the initial public offering of 15,000,000 shares in the Company and the sale of 173,100 shares following the partial exercise of the Over-allotment Option, and include amongst others $3,034,620 of upfront underwriting fees (see also Note 14).  For the accounting year 2017, there were no transaction costs related to the issuance of shares.

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General and Administrative Expenses

12 Months Ended

Dec. 31, 2017

General and Administrative Expenses [Abstract]

General and Administrative Expenses

6. General and administrative expenses

in USD	2017		2016
Audit fees		50,000		225,000
Registration and listing fees		10,000		88,364
Legal fees		383,574		-
Other fees		34,153		7,937
Other expenses		846,361		76,066
Total general and administrative expenses		1,324,088		397,367

Legal fees mainly relate to fees incurred in relation to the incorporation of Maritime Partner BVBA and Hamburg Maritime NV and fees for the legal work done in relation to the Tender Offer (see also Note 2).

Other expenses include $119,516 (2016: $15,000) of expenses charged by Belgische Scheepvaartmaatschappij - Compagnie Maritime Belge ("CMB"), the Sponsor's ultimate parent, under the Administrative Services Agreement (see also Note 11) and an amount of $393,537 (2016: $49,694) of Directors and Officers Liability Insurance (D&O) and Securities Offering Liability Insurance.

Prepaid expenses amounting to $180,582 (2016: $0) mainly consist of deferred charges related to the Directors and Officers Liability Insurance and Securities Offering Liability Insurance.

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Net Finance Income/(Expense)

12 Months Ended

Dec. 31, 2017

Net Finance Income/(Expense) [Abstract]

Net Finance Income/(Expense)

7. Net finance income/(expense)

in USD	2017			2016
Interest income on held-to-maturity investments		1,074,216			31,808
Foreign exchange gain.		9,997			-
Finance income		1,084,213			31,808
Interest expense on financial liabilities		(16	)		(139	)
Other finance expenses		(93,115	)		(33,124	)
Foreign exchange loss		(10,400	)		(52	)
Finance expenses		(103,531	)		(33,315	)
Net finance income/(expense) recognised in profit or loss		980,682			(1,507	)

Other finance expenses mainly consist of bank charges related to held-to-maturity investments.

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Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings per share

Basic earnings per share

The calculation of basic earnings per share has been based on the following Profit/(Loss) attributable to owners of the Company and weighted-average number of common shares outstanding during the period.

Profit/(Loss) for the period attributable to owners of the Company	(382,605)
Weighted-average number of common shares at December 31, 2017	3,793,275
Basic earnings per share	(0.1009)

Diluted earnings per share

The calculation of diluted earnings per share has been based on the following Profit/(Loss) attributable to owners of the Company shareholders and weighted-average number of common shares outstanding during the period after adjustment for the effects of dilutive potential common shares.

Profit/(Loss) for the period attributable to owners of the Company	(382,605)
Weighted-average number of common shares (diluted) at December 31,2017	3,793,275
Diluted earnings per share	(0.1009)

At December 31, 2017, 3,356,413 Private Placement Warrants were excluded from the calculation of the diluted weighted-average number of common shares, because their effect would have been anti-dilutive.

The above calculations of Basic and Diluted Earnings per Share do not take into account the 15,000,000 Units sold in the Public Offering and the 173,100 Units sold pursuant to the partial exercise of the Over-allotment Option, these will only have an effect following the completion of the Initial Business Combination.

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Income Taxes

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Income Taxes

9. Income Taxes

The Company is incorporated in the Republic of the Marshall Islands, and in accordance with the income tax laws of the Marshall Islands, is not subject to Marshall Islands' income tax.  Dividends paid by the Company are not subject to any withholding tax under the laws of the Marshall Islands. As the Company proceeds with making investments in various jurisdictions, tax considerations outside the Marshall Islands may arise. Although the Company intends to pursue tax-efficient investments, it may be subject to income tax, withholding tax, capital gains tax, and other taxes imposed by tax authorities in other jurisdictions. The Company does not expect to be subject to direct taxation based on net income in the United States as long as it is not engaged in a trade or business in the United States for U.S. federal income tax purposes.  However, if the Company operates one or more vessels that carry cargo or passengers to or from the United States, the Company may become subject to U.S. federal income tax on its gross U.S.-source shipping income at a rate of four percent unless it qualifies for an exemption from such tax. The Company does not expect to invest in any U.S. obligation that will be subject to U.S. withholding taxes.

The Company recognizes uncertain tax positions, if any, in the Consolidated Financial Statements based on the guidance in IAS 12.  Interest and penalties related to uncertain tax positions are recognized based on the guidance in IAS 12 as well.

The amount of $39,199 (2016: $0) included as Income tax expense represents withholding taxes payable on interest received on the Trust Account investments.

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Concentration of Credit Risk

12 Months Ended

Dec. 31, 2017

Concentration of Credit Risk [Abstract]

Concentration of Credit Risk

10. Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentration of credit risk currently consist of cash accounts in a financial institution only.  The Company has not experienced losses on these accounts and management is of the opinion that the Company is not exposed to significant risks on such accounts.

The proceeds held in the Trust Account do not carry a significant credit risk as these proceeds can be invested only in permitted United States "government securities" within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act (see also Note 1).

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Related Party Transactions

12 Months Ended

Dec. 31, 2017

Related Party Transactions [Abstract]

Related Party Transactions

11. Related Party Transactions

Founder Shares

On July 11, 2016, the Sponsor purchased 4,312,500 Class B Common Shares of the Company (which are the Founder Shares) for $25,000, or $0.006 per share. The Founder Shares are identical to the Public Shares included in the Units sold in the Public Offering except that, (i) only holders of the Founder Shares will be entitled to vote on the election of directors prior to the Company's initial Business Combination and, (ii) the Founder Shares are subject to certain transfer restrictions, as described in more detail below. The Sponsor agreed to forfeit up to 562,500 Founder Shares to the extent that the Over-allotment Option was not exercised in full by the underwriters so that the Sponsor will own 20% of the Company's issued and outstanding common shares after the Public Offering.  On January 3,2017, our Sponsor forfeited 519,225 Class B Common Shares pursuant to the partial exercise on December 16, 2016 of the underwriters' Over-allotment Option.  Subsequently the number of outstanding Founder Shares amounts to 3,793,275.

The Sponsor has agreed not to transfer, assign or sell any of their Founder Shares until the earlier of, (i) one year after the completion of the Company's Initial Business Combination, or earlier if, subsequent to the Company's Initial Business Combination, the last sale price of the Company's common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company's Initial Business Combination or, (ii) the Company consummates a liquidation, merger, stock exchange or other similar transaction that results in all of the Company's shareholders having the right to exchange their Class A Common Shares for cash, securities, or other property.

Private Placement Warrants

Upon the closing of the Public Offering on November 23, 2016, the Sponsor purchased from the Company an aggregate of 3,333,333 Private Placement Warrants at a price of $1.50 per Private Placement Warrant (an aggregate purchase price of $5,000,000).  On December 16, 2016,  following the partial exercise of the Over-allotment Option the Sponsor purchased a further 23,080 Additional Private Placement Warrants at a price of $1.50 per Private Placement Warrant (an aggregate purchase price of $34,620).  A portion of the proceeds from the sale of the Private Placement Warrants and the full proceeds from the sale of the Additional Private Placement Warrants were placed into the Trust Account.

The Private Placement Warrants (including the Class A Common Shares issuable upon exercise of the Private Placement Warrants) are not transferable, assignable or salable until 30 days after the completion of the Initial Business Combination and they are non-redeemable and exercisable on a cashless basis, provided that such cashless exercise is permitted under the laws of the Company's corporate jurisdiction, so long as they are held by the initial purchasers of the Private Placement Warrants or their permitted transferees, subject to certain exceptions. If the Private Placement Warrants are held by someone other than the initial purchasers of the Private Placement Warrants or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Warrants included in the Units sold in the Public Offering. Otherwise, the Private Placement Warrants have terms and provisions that are identical to those of the Warrants sold as part of the Units in the Public Offering and have no net cash settlement provisions.

If the Company does not complete the Initial Business Combination, then the proceeds will be part of the liquidating distribution to the public shareholders and the Private Placement Warrants issued to the Sponsor will expire worthless.

Units purchased in the Public Offering

CMB purchased 200,000 Units in the Public Offering at the public offering price, for an aggregate purchase price of $2,000,000.

Registration Rights

The holders of the Founder Shares and Private Placement Warrants (and any Class A Common Shares issuable upon the exercise of the Private Placement Warrants) are entitled to registration rights pursuant to a registration rights agreement executed on November 18, 2016. The holders of these securities will be entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed subsequent to the completion of the Company's Initial Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lock-up period, which occurs (i) in the case of the Founder Shares, one year after the date of the consummation of the Company's Initial Business Combination or earlier if, subsequent to the Company's Initial Business Combination, (a) the last sale price of the Company's Class A Common Shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Company's Initial Business Combination or (b) the Company consummates a subsequent liquidation, merger, stock exchange or other similar transaction which results in all of the Company's shareholders having the right to exchange their Class A Common Shares for cash, securities or other property and (ii) in the case of the Private Placement Warrants and the respective Class A Common Shares underlying such warrants, 30 days after the completion of the Company's Initial Business Combination. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

Related Party Loans

Pursuant to an unsecured promissory note (the "Note") dated November 14, 2016, the Sponsor agreed to loan the Company up to an aggregate of $250,000 to cover expenses related to the Public Offering. The Company borrowed $150,000 under the Note in connection with the Public Offering. The Note was interest bearing at a rate per annum equal to LIBOR plus 0.60% and was repaid in full on November 25, 2016.  A total of $139 was charged as interest on the Note.

No promissory notes have been granted throughout the financial year 2017.

Administrative Services Agreement

The Company has agreed to pay $10,000 a month for office space, administrative services and secretarial support to CMB.  Services commenced on November 18, 2016, and will terminate upon the earlier of the consummation by the Company of its Initial Business Combination or the liquidation of the Company.

As of December 31, 2016, $15,000 was expensed by the Company for services rendered by CMB for the period from November 18 through December 31, 2016.

For the period from January 1, 2017, through December 31, 2017, $119,516 was expensed for services rendered by CMB during that period.

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Measurement of Fair Values

12 Months Ended

Dec. 31, 2017

Measurement of Fair Values [Abstract]

Measurement of Fair Values

12. Measurement of fair values

A number of the Company's accounting policies and disclosures require the use of fair values.

If third party information is used to measure fair values, the evidence obtained from third parties is assessed to support the conclusion that such valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which such valuations should be classified. When measuring the fair value of an asset or a liability, the Company uses market observable data as far as possible.

Fair values are classified into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities.

Level 2: other techniques for which all inputs that have a significant effect on the recorded fair value are observable, either directly or indirectly.

Level 3: techniques that use inputs which have a significant effect on the recorded fair value that are not based on observable market data.

If the inputs used to measure the fair value of an asset or a liability might be categorized in different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

The Company measures transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

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Fair Values of Cash and Cash Equivalents and Current and Non-current Receivables and Liabilities

12 Months Ended

Dec. 31, 2017

Fair Values of Cash and Cash Equivalents and Current and Non-current Receivables and Liabilities [Abstract]

Fair Values of Cash and Cash Equivalents and Current and Non-current Receivables and Liabilities

13. Fair values of cash and cash equivalents and current and non-current receivables and liabilities

The fair values of cash and cash equivalents and the current receivables and liabilities approximate their book values due to their short-term nature. The fair values of the non-current financial liabilities also approximate their book values due to the fact that their terms and conditions approximate current market conditions.

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Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies [Abstract]

Commitments and Contingencies

14. Commitments and Contingencies

The Company paid an underwriting fee of $3,034,620, equal to a 2.00% underwriting fee on the per Unit offering price, to the underwriters based on a sale of 15,000,000 Units, at the closing of the Public Offering and 173,100 Units following the partial exercise of the Over-allotment Option. The Company will pay an additional fee of $5,310,585, equal to a 3.50% underwriting fee on the per Unit offering price, to underwriters upon the Company's completion of the Initial Business Combination (the "Deferred Fee"). The Deferred Fee will become payable to the underwriters from the amounts held in the Trust Account solely in the event the Company completes the Initial Business Combination.  If the Company fails to complete its Initial Business Combination within 24 months from the closing of the Public Offering, the underwriters have agreed to waive their right to the Deferred Fee.

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Recent Accounting Standards

12 Months Ended

Dec. 31, 2017

Recent Accounting Standards [Abstract]

Recent Accounting Standards

15. Recent Accounting Standards

Management has considered the impact of the following standards and amendments to standards:

IFRS 15 Revenue from Contracts with Customers establishes a comprehensive framework for determining whether, how much and when revenue is recognized.  IFRS 15 is effective for annual periods beginning on or after January 1, 2018, with early adoption permitted.

IFRS 16 Leases is effective for annual periods beginning on or after January 1, 2019, with early adoption permitted.

Taking into account that the Company did not have operations as of December 31, 2017, that the type of revenue will only be known once an Initial Business Combination has been completed and that the Company currently has no lease contracts, management is of the opinion that none of the aforementioned standards and amendments to standards, if currently adopted, would have had a material impact on the Company's Consolidated Financial Statements as of and for the year/period ended.

IFRS 9 Financial Instruments published in July 2014 replaces the existing guidance in IAS 39 Financial Instruments: Recognition and Measurement.  IFRS 9 is effective for annual periods beginning on or after January 1, 2018, with early adoption permitted.  The first application of this method will not materially affect the Company's equity on January 1, 2018.

The following amendments to standards, which are effective for annual periods beginning on or before January 1, 2017, have been applied by the Group for the first time in preparing these Consolidated Financial Statements:

Amendments to IAS 12: Recognition of Deferred Tax Assets for Unrealized Losses effective as from January 1, 2017 and Amendments to IAS 7: Disclosure Initiative effective as from January 1, 2017. None of these amendments to standards and new or amended interpretations had a significant effect on the Consolidated Financial Statements of Hunter Maritime Acquisition Corp.

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Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

The Board of Directors approved the Consolidated Financial Statements on March 29, 2018.  Management has performed an evaluation of subsequent events through that date.  As at March 29, 2018, there are no relevant subsequent events.

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Organization and Business Operations (Policies)

12 Months Ended

Dec. 31, 2017

Organization and Business Operations [Abstract]

Incorporation and Business Purpose

Incorporation and Business Purpose

Hunter Maritime Acquisition Corp. (the "Company") was incorporated in the Republic of the Marshall Islands on June 24, 2016. The Company's registered address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.

The Company was formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition, debt acquisition, stock purchase, reorganization or other similar business combination, vessels, vessel contracts (including contracts for the purchase and charter-in by the Company of vessels) or one or more operating businesses in the international maritime shipping industry, or one or more different sectors that may be unrelated to the shipping industry, that it has not yet identified ("Initial Business Combination").   As of December 31, 2017, the Company had not commenced any operations. The Company will not generate any operating revenues until after completion of its Initial Business Combination, at the earliest.  The Company has until November 23, 2018, the date which is 24 months following the completion of its Public Offering (discussed below), to complete its Initial Business Combination.

Financing

Financing

On July 11, 2016, Bocimar Hunter NV, the Company's sponsor (the "Sponsor") purchased 4,312,500 Class B Common Shares of the Company (the "Founder Shares") for $25,000, or $0.006 per share.

On November 23, 2016 (the "Closing Date"), the Company closed its initial public offering of 15,000,000 units (the "Units") at $10.00 per Unit, each Unit consisting of one Class A common share of the Company, par value $0.0001 per share (the "Class A Common Shares") and one-half of one warrant (the "Warrants"), each whole Warrant entitling the holder thereof to purchase one Class A Common Share at $11.50 (the "Public Offering").  The Company also granted the underwriters of the Public Offering a 45-day option to purchase up to 2,250,000 additional Units to cover overallotments (the "Over-allotment Option").  The Class A Common Shares sold as part of the Units in the Public Offering are sometimes referred to herein as the "Public Shares."

At the Closing Date, the Sponsor purchased an aggregate of 3,333,333 warrants (the "Private Placement Warrants") at a purchase price of $1.50 per warrant, or $5,000,000 in the aggregate, in a private placement (the "Private Placement"). The Private Placement Warrants are included under the heading Additional paid-in capital on the Consolidated Statement of Financial Position.

As of the Closing Date, after paying an underwriting fee of $3,000,000 and retaining funds designated for Public Offering expenses and operational use of $2,000,000, the remaining net proceeds of $150,000,000 were deposited in a trust account with Continental Stock Transfer and Trust Company acting as trustee (the "Trust Account") as described below.

On December 16, 2016, the Company completed the sale of an additional 173,100 units (the "Additional Units") of the Company to the underwriters of its Public Offering at the public offering price per unit pursuant to a partial exercise of the Over-allotment Option granted to the underwriters in connection with the Public Offering. Each unit consists of one Class A common share and one half of one warrant of the Company. Each whole warrant entitles the holder thereof to purchase one Class A common share for $11.50 per share. The Company received $1,696,380 in net proceeds from the sale, which included $60,585 in the aggregate payable to the underwriters for deferred underwriting commissions.

In connection with the sale of the Additional Units, the Company completed the private sale of an additional 23,080 warrants (the "Additional Private Placement Warrants") to Sponsor at a purchase price of $1.50 per Additional Private Placement Warrant, generating gross proceeds to the Company of $34,620. The Additional Private Placement Warrants are included under the heading Additional paid-in capital on the Consolidated Statement of Financial Position.

A total of $1,731,000, comprised of the net proceeds of the sale of the Additional Units and the proceeds of the sale of the Additional Private Placement Warrants, was placed in the Trust Account.

On January 2, 2017, the over-allotment option on the Company's shares offered in the IPO expired.

The Company's sponsor, Bocimar Hunter NV, forfeited 519,225 class B Common shares or Founder Shares.  These shares were subsequently cancelled.

The Company has neither engaged in any operations nor generated significant revenue to date. The Company's only activities between inception and the closing of its Public Offering were organizational activities and those necessary to prepare for and close the Public Offering.  Since the consummation of the Public Offering, the Company's activity has been limited to evaluating candidates for its Initial Business Combination.

The Trust Account

The Trust Account

The Trust Account is a segregated account at KBC Bank located in Belgium into which the net proceeds from the Public Offering and the sale of the Private Placement Warrants were deposited in accordance with an Investment Management Trust Agreement by and among the Company, KBC Bank and Continental Stock Transfer & Trust Company ("Continental") and pursuant to which Continental is acting as trustee. The Trust Account will be invested only in permitted United States "government securities" within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the "Investment Company Act"), having a maturity of 180 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act.  At December 31, 2017, the Trust Account consisted of investments in US Treasury bills with maturity date January 10, 2018.

The Company's amended and restated articles of incorporation provide that, other than the withdrawal of investment earnings earned on the Trust Account to pay taxes or to fund working capital requirements, none of the funds held in the trust account will be released until the earlier of (i) the completion of the Company's Initial Business Combination, (ii) the redemption of the Public Shares if the Company is unable to complete the Initial Business Combination within 24 months from the closing of the Public Offering, subject to applicable law, or (iii) the redemption of the Public Shares properly submitted in connection with a shareholder vote to approve an amendment to the Company's amended and restated articles of incorporation that would affect the substance or timing of its obligation to redeem 100% of the Public Shares if the Company has not consummated an Initial Business Combination within 24 months from the closing of the Public Offering.

Business Combination

Business Combination

The Company's management has broad discretion with respect to the specific application of the net proceeds of the Public Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be generally applied toward completing the Initial Business Combination. There is no assurance that the Company will be able to successfully complete the Initial Business Combination.

The Company will provide its public shareholders with the opportunity to redeem all or a portion of their Public Shares, (i) if the Company is a foreign private issuer ("FPI"), upon the completion of the Initial Business Combination, by means of a tender offer in accordance with the U.S. tender offer rules or, (ii) if the Company is not an FPI, either, (A) in connection with a shareholder meeting called to approve the Initial Business Combination, in conjunction with a proxy solicitation for such meeting pursuant to the U.S. proxy rules or, (B) by means of a tender offer, in each case, for cash equal to their pro rata share of the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the Initial Business Combination, less taxes payable and any amounts released to the Company to fund working capital requirements.  However, in no event will the Company redeem its Public Shares in an amount that would cause its net tangible assets to be less than $5,000,001. In such case, the Company would not proceed with the redemption of its Public Shares and the related Initial Business Combination, and instead may search for an alternate business combination.

The Company will only have 24 months from the closing of the Public Offering, being November 23, 2016, to consummate an Initial Business Combination. If the Company does not complete the Initial Business Combination within this period of time, it shall, (i) cease all operations except for the purposes of winding up, (ii) as promptly as reasonably possible, but not more than ten business days thereafter, redeem the Public Shares for a per-share pro rata portion of the Trust Account, less taxes payable (less up to $100,000 of such net interest to pay dissolution expenses) and, (iii) as promptly as possible following such redemption, subject to the approval of the Company's remaining shareholders and Board of Directors, dissolve and liquidate the balance of the Company's net assets to its remaining shareholders, as part of its plan of dissolution and liquidation, subject to applicable law. The Sponsor entered into a letter agreement with the Company, pursuant to which it has waived its rights to participate in any redemption with respect to the Founder Shares (as defined below); however, if the Sponsor or any of the Company's officers, directors or affiliates acquire Class A Common Shares in or after the Public Offering, they will be entitled to a pro rata share of the Trust Account upon the Company's redemption or liquidation in the event the Company does not complete the Initial Business Combination within the required time period.

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Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2017

Cash and Cash Equivalents [Abstract]

Cash And Cash Equivalents

Cash and cash equivalents includes an amount of $152,102,400 (2016: $151,767,426) that is being held in the Trust Account (see also Note 1) and can be detailed as follows:

in USD	2017		2016
Cash		246,045		4,933
Held-to-maturity investments		151,856,355		151,762,493
Total cash equivalents		152,102,400		151,767,426

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Equity and Non-current Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Equity and Non-current Liabilities [Abstract]

Transaction Costs

The following transaction costs were recorded as a deduction from retained earnings:

in USD	2017		2016
Fees		-		6,193
Offering expenses		-		3,555,329
Total fees and expenses		-		3,561,521

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General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2017

General and Administrative Expenses [Abstract]

General and Administrative Expenses

in USD	2017		2016
Audit fees		50,000		225,000
Registration and listing fees		10,000		88,364
Legal fees		383,574		-
Other fees		34,153		7,937
Other expenses		846,361		76,066
Total general and administrative expenses		1,324,088		397,367

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Net Finance Income/(Expense) (Tables)

12 Months Ended

Dec. 31, 2017

Net Finance Income/(Expense) [Abstract]

Net Finance Income/(Expense)

in USD	2017			2016
Interest income on held-to-maturity investments		1,074,216			31,808
Foreign exchange gain.		9,997			-
Finance income		1,084,213			31,808
Interest expense on financial liabilities		(16	)		(139	)
Other finance expenses		(93,115	)		(33,124	)
Foreign exchange loss		(10,400	)		(52	)
Finance expenses		(103,531	)		(33,315	)
Net finance income/(expense) recognised in profit or loss		980,682			(1,507	)

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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share Basic and Diluted

Basic earnings per share

The calculation of basic earnings per share has been based on the following Profit/(Loss) attributable to owners of the Company and weighted-average number of common shares outstanding during the period.

Profit/(Loss) for the period attributable to owners of the Company	(382,605)
Weighted-average number of common shares at December 31, 2017	3,793,275
Basic earnings per share	(0.1009)

Diluted earnings per share

The calculation of diluted earnings per share has been based on the following Profit/(Loss) attributable to owners of the Company shareholders and weighted-average number of common shares outstanding during the period after adjustment for the effects of dilutive potential common shares.

Profit/(Loss) for the period attributable to owners of the Company	(382,605)
Weighted-average number of common shares (diluted) at December 31,2017	3,793,275
Diluted earnings per share	(0.1009)

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Organization and Business Operations (Details) - USD ($)					6 Months Ended	12 Months Ended
	Jan. 03, 2017	Dec. 16, 2016	Nov. 23, 2016	Jul. 11, 2016	Dec. 31, 2016	Dec. 31, 2017
Financing [Abstract]
Proceeds from shares issued					$ 25,000	$ 0
Underwriting fees					3,034,620	0
Fund retained for public offering expenses and operational use					$ 3,555,329	$ 0
The Trust Account [Abstract]
Period to redeem the public share to complete the initial business combination						24 months
Percentage of public share obligation to redeem						100.00%
Business Combination [Abstract]
Number of business days						2 days
Top of Range [Member]
The Trust Account [Abstract]
Money market investments maturity period						180 days
Business Combination [Abstract]
Amount of net tangible assets						$ 5,000,001
Number of business days to cease all operations except for the purposes of winding up						10 days
Net interest to pay dissolution expenses						$ 100,000
Initial Public Offering [Member]
Financing [Abstract]
Number of units issued (in shares)			15,000,000
Unit price (in dollars per share)			$ 10.00
Number of days option granted to underwriters to cover over-allotments						45 days
Underwriting fees			$ 3,000,000
Fund retained for public offering expenses and operational use			2,000,000
Amount deposited in trust account			$ 150,000,000
Over-Allotment [Member]
Financing [Abstract]
Number of units issued (in shares)		173,100
Proceeds from units issued		$ 1,696,380
Deferred underwriting commission		$ 60,585
Over-Allotment [Member] | Top of Range [Member]
Financing [Abstract]
Number of units issued (in shares)			2,250,000
Private Placement Warrants [Member]
Financing [Abstract]
Number of warrants issued (in shares)		23,080	3,333,333
Warrant price (in dollars per share)		$ 1.50	$ 1.50
Proceeds from warrants issued		$ 34,620	$ 5,000,000
Amount deposited in trust account		$ 1,731,000
Bocimar Hunter NV [Member]
Financing [Abstract]
Share price (in dollars per share)						$ 12.00
Warrants [Member] | Initial Public Offering [Member]
Financing [Abstract]
Number of warrants in each unit (in shares)			0.5
Warrants [Member] | Over-Allotment [Member]
Financing [Abstract]
Number of equity shares in each unit (in shares)		0.5
Class A Common Shares [Member] | Initial Public Offering [Member]
Financing [Abstract]
Share price (in dollars per share)			$ 11.50
Number of equity shares in each unit (in shares)			1
Common stock, par value (in dollars per share)			$ 0.0001
Number of equity shares in each whole warrant (in shares)			1
Class A Common Shares [Member] | Over-Allotment [Member]
Financing [Abstract]
Share price (in dollars per share)		$ 11.50
Number of equity shares in each unit (in shares)		1
Number of equity shares in each whole warrant (in shares)		1
Class B Common Shares [Member] | Bocimar Hunter NV [Member]
Financing [Abstract]
Number of shares issued (in shares)				4,312,500
Proceeds from shares issued				$ 25,000
Share price (in dollars per share)				$ 0.006
Number of shares forfeited and cancelled (in shares)	519,225

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Measurement and Basis of Presentation - Statement of Compliance - Accounting policies (Details)	May 15, 2017 USD ($) shares	May 09, 2017 USD ($) shares	Apr. 27, 2017 shares	Jan. 03, 2017 shares	Apr. 26, 2017 Vessel
Measurement and Basis of Presentation Statement of Compliance [Abstract]
Number of capesize vessels agreed to purchase | Vessel					5
Maritime Partner BVBA [Member]
Measurement and Basis of Presentation Statement of Compliance [Abstract]
Cash contribution in subsidiary | $		$ 13.501
Cash contribution value equivalent to number of shares issued by subsidiary (in shares)		100
Number of shares issued by subsidiary (in shares)		100
Number of shares held by subsidiary (in shares)	1
Hamburg Maritime NV [Member]
Measurement and Basis of Presentation Statement of Compliance [Abstract]
Cash contribution in subsidiary | $	$ 67.478
Cash contribution value equivalent to number of shares issued by subsidiary (in shares)	99.999
Number of shares issued by subsidiary (in shares)	100.000
Class A Common Shares [Member] | Top of Range [Member]
Measurement and Basis of Presentation Statement of Compliance [Abstract]
Tender offer to purchase shares (in shares)			8,233,100
Class B Common Shares [Member] | Bocimar Hunter NV [Member]
Measurement and Basis of Presentation Statement of Compliance [Abstract]
Number of shares forfeited and cancelled (in shares)				519,225

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Use of Estimates and Assumptions (Details)	12 Months Ended
	Dec. 31, 2017
Use of Estimates and Assumptions [Abstract]
Period to redeem the public share to complete the initial business combination	24 months

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Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Cash Equivalents [Abstract]
Total cash equivalents	$ 152,102,400	$ 151,767,426
Cash [Member]
Cash Equivalents [Abstract]
Total cash equivalents	246,045	4,933
Held-to-maturity Investments [Member]
Cash Equivalents [Abstract]
Total cash equivalents	$ 151,856,355	$ 151,762,493

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Cash and Cash Equivalents, Trust Account (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Jun. 23, 2016
Cash and Cash Equivalents [Abstract]
Number of US treasury bills units in held-to-maturity investments (in units)	151,903,000
Cash	$ 447,616	$ 1,823,321
Cash and cash equivalents	$ 152,550,016	$ 153,590,747	$ 0

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Equity and Non-current Liabilities (Details)		6 Months Ended	12 Months Ended
	Nov. 23, 2016 USD ($) shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 16, 2016 shares
Common Stock and Preferred Stock [Abstract]
Current liability | $		$ 0	$ 147,447,619
Transaction Costs [Abstract]
Fees | $		6,193	0
Offering expenses | $		3,555,329	0
Fee and commission expense | $		3,561,521	0
Underwriting fees | $		$ 3,034,620	0
Top of Range [Member]
Common Stock and Preferred Stock [Abstract]
Redeem its public shares to its net tangible assets | $			$ 5,000,001
Preference Shares [Member]
Common Stock and Preferred Stock [Abstract]
Stock, authorized (in shares)			50,000,000
Stock, par value (in dollars per share) | $ / shares			$ 0.0001
Number of shares issued (in shares)		0	0
Stock, outstanding (in shares)		0	0
Common Stock [Member]
Common Stock and Preferred Stock [Abstract]
Stock, authorized (in shares)			500,000,000
Number of shares subject to redemption (in shares)			14,744,762
Redemption value (in dollars per share) | $ / shares			$ 10.00
Current liability | $			$ 147,447,619
Decrease to common stock subject to possible redemption compare to prior year | $			$ 382,605
Class B Common Shares [Member]
Common Stock and Preferred Stock [Abstract]
Stock, authorized (in shares)			100,000,000
Stock, par value (in dollars per share) | $ / shares			$ 0.0001
Number of shares issued (in shares)		4,312,500	3,793,275
Stock, outstanding (in shares)		4,312,500	3,793,275
Class A Common Shares [Member]
Common Stock and Preferred Stock [Abstract]
Stock, authorized (in shares)			400,000,000
Number of shares issued (in shares)		15,173,100	15,173,100
Stock, outstanding (in shares)		15,173,100	15,173,100
Conversion ratio			1
Initial Public Offering [Member]
Transaction Costs [Abstract]
Offering expenses | $	$ 2,000,000
Number of units issued (in shares)	15,000,000
Underwriting fees | $	$ 3,000,000
Over-Allotment [Member]
Transaction Costs [Abstract]
Number of units issued (in shares)				173,100
Over-Allotment [Member] | Top of Range [Member]
Transaction Costs [Abstract]
Number of units issued (in shares)	2,250,000

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General and Administrative Expenses (Details) - USD ($)		1 Months Ended	6 Months Ended	12 Months Ended
	Nov. 18, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2017
General and Administrative Expenses [Abstract]
Audit fees			$ 225,000	$ 50,000
Registration and listing fees			88,364	10,000
Legal fees			0	383,574
Other fees			7,937	34,153
Other expenses			76,066	846,361
Total general and administrative expenses			397,367	1,324,088
Other Expenses [Abstract]
Prepaid expenses		$ 0	0	180,582
Compagnie Maritime Belge [Member]
Other Expenses [Abstract]
Other expenses charged	$ 10,000	15,000	15,000	119,516
Directors and Officers Liability Insurance and Securities Offering Liability Insurance [Member]
Other Expenses [Abstract]
Other expenses charged			49,694	393,537
Prepaid expenses		$ 0	$ 0	$ 180,582

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Net Finance Income/(Expense) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017
Net Finance Income/(Expense) [Abstract]
Interest income on held-to-maturity investments	$ 31,808	$ 1,074,216
Foreign exchange gain	0	9,997
Finance income	31,808	1,084,213
Interest expense on financial liabilities	(139)	(16)
Other finance expenses	(33,124)	(93,115)
Foreign exchange loss	(52)	(10,400)
Finance expenses	(33,315)	(103,531)
Net finance income/(expense)	$ (1,507)	$ 980,682

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Earnings Per Share (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017	Dec. 16, 2016	Nov. 23, 2016
Basic earnings per share [Abstract]
Profit/(Loss) for the period attributable to owners of the Company	$ (398,874)	$ (382,605)
Weighted-average number of common shares (in shares)		3,793,275
Basic earnings per share (in dollars per share)	$ (0.1052)	$ (0.1009)
Diluted earnings per share [Abstract]
Profit/(Loss) for the period attributable to owners of the Company	$ (398,874)	$ (382,605)
Weighted-average number of common shares (diluted) (in shares)		3,793,275
Diluted earnings per share (in dollars per share)	$ (0.1052)	$ (0.1009)
Number of private placement warrants excluded from the calculation of diluted shares (in shares)		3,356,413
Initial Public Offering [Member]
Earnings per Share [Abstract]
Units sold excluded from the calculation of basic and diluted shares (in shares)				15,000,000
Over-Allotment [Member]
Earnings per Share [Abstract]
Units sold excluded from the calculation of basic and diluted shares (in shares)			173,100

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Income Taxes (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017
Income Taxes [Abstract]
U.S. federal income tax rate		4.00%
Income tax expenses	$ 0	$ 39,199

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Related Party Transactions, Founder Shares (Details) - USD ($)			6 Months Ended	12 Months Ended
	Jan. 03, 2017	Jul. 11, 2016	Dec. 31, 2016	Dec. 31, 2017
Founder Shares [Abstract]
Proceeds from shares issued to founder			$ 25,000	$ 0
Bocimar Hunter NV [Member]
Founder Shares [Abstract]
Share price (in dollars per share)				$ 12.00
Bocimar Hunter NV [Member] | Bottom of Range [Member]
Founder Shares [Abstract]
Period after completion of the company's initial business combination				1 year
Number of trading days required for business combination				20 days
Number of trading days for commencing for business combination				30 days
Number of days subsequent to initial business combination				150 days
Bocimar Hunter NV [Member] | Class B Common Shares [Member]
Founder Shares [Abstract]
Number of shares issued to sponsor (in shares)		4,312,500
Proceeds from shares issued to founder		$ 25,000
Share price (in dollars per share)		$ 0.006
Percentage of shares owned by sponsors after public offering		20.00%
Number of shares forfeited and cancelled (in shares)	519,225
Outstanding number of shares (in shares)				3,793,275
Bocimar Hunter NV [Member] | Class B Common Shares [Member] | Top of Range [Member]
Founder Shares [Abstract]
Number of shares agreed to be forfeited (in shares)		562,500

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Related Party Transactions, Private Placement Warrants (Details) - Private Placement Warrants [Member] - USD ($)			12 Months Ended
	Dec. 16, 2016	Nov. 23, 2016	Dec. 31, 2017
Private Placement Warrants [Abstract]
Number of warrants issued (in shares)	23,080	3,333,333
Warrant price (in dollars per share)	$ 1.50	$ 1.50
Proceeds from warrants issued	$ 34,620	$ 5,000,000
Class A Common Shares [Member]
Private Placement Warrants [Abstract]
Minimum period for warrants to be transferable or salable			30 days

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Related Party Transactions, Units purchased in the Public Offering (Details) - Initial Public Offering [Member] - USD ($)	12 Months Ended
	Dec. 31, 2017	Nov. 23, 2016
Units Purchased in Public Offering [Abstract]
Number of equity instruments issued		15,000,000
Compagnie Maritime Belge [Member]
Units Purchased in Public Offering [Abstract]
Number of equity instruments issued	200,000
Proceeds from units issued	$ 2,000,000

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Related Party Transactions, Related Party Loans (Details)		12 Months Ended
	Nov. 14, 2016 USD ($)	Dec. 31, 2017 PromissoryNote
Related Party Loans [Abstract]
Number of notes granted | PromissoryNote		0
Unsecured Promissory Note [Member]
Related Party Loans [Abstract]
Sponsor agreed to loan upto aggregate expenses related to public offering	$ 250,000
Borrowed loan amount in connection with public offering	150,000
Interest charged on note	$ 139
Unsecured Promissory Note [Member] | LIBOR [Member]
Related Party Loans [Abstract]
Interest rate	0.60%

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Related Party Transactions, Administrative Services Agreement (Details) - USD ($)		1 Months Ended	6 Months Ended	12 Months Ended
	Nov. 18, 2016	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2017
Compagnie Maritime Belge [Member]
Administrative Services Agreement [Abstract]
Expenses agreed to pay for office space, administrative and secretarial support	$ 10,000	$ 15,000	$ 15,000	$ 119,516

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Commitments and Contingencies (Details) - USD ($)		6 Months Ended	12 Months Ended
	Nov. 23, 2016	Dec. 31, 2016	Dec. 31, 2017	Dec. 16, 2016
Commitments and Contingencies [Abstract]
Underwriting fees		$ 3,034,620	$ 0
Additional underwriting fee payment			$ 5,310,585
Percentage of additional underwriting fee on per unit offering price			3.50%
Period to redeem the public share to complete the initial business combination			24 months
Initial Public Offering [Member]
Commitments and Contingencies [Abstract]
Underwriting fees	$ 3,000,000
Percentage of underwriting fee on per unit offering price	2.00%
Number of units issued (in shares)	15,000,000
Over-Allotment [Member]
Commitments and Contingencies [Abstract]
Number of units issued (in shares)				173,100