XML 109 R96.htm IDEA: XBRL DOCUMENT v3.3.1.900
RELATED PARTY TRANSACTIONS (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Nov. 23, 2015
USD ($)
Mar. 31, 2015
USD ($)
$ / shares
Apr. 02, 2010
Apr. 30, 2015
USD ($)
Mar. 31, 2015
USD ($)
company
$ / shares
shares
Sep. 30, 2014
USD ($)
company
shares
Apr. 30, 2014
USD ($)
company
t
$ / shares
shares
Mar. 31, 2015
USD ($)
$ / shares
shares
Mar. 31, 2014
Dec. 31, 2015
USD ($)
shares
Dec. 31, 2014
USD ($)
shares
Dec. 31, 2013
USD ($)
Sep. 15, 2014
$ / shares
Related Party Transaction [Line Items]                          
Newbuilding Contract, Sold $ 1,900,000                 $ 10,800,000      
Loss on Sale of Newbuilding Contract                   8,900,000      
Value of share consideration paid in connection with purchase of vessel                     $ 38,874,000    
Cash paid to acquire SPCs                   24,000 24,085,000 $ 0  
Cash acquired upon purchase of SPC's                   $ 108,645,000 $ 68,560,000 0  
Number of newbuilding vessels converted and sold                   2      
Number of SPCs acquired         12           13    
Sale Leaseback Transaction, Historical Cost       $ 272,000,000                  
Common Stock [Member]                          
Related Party Transaction [Line Items]                          
Number of shares issued as consideration | shares             15,500,000            
Capital Addition Purchase Commitments [Member]                          
Related Party Transaction [Line Items]                          
Noncash or Part Noncash Acquisition, Payables Assumed   $ 404,000,000       $ 490,000,000              
Frontline 2012 [Member]                          
Related Party Transaction [Line Items]                          
Number of SPCs expected to acquire | company             25            
Capesize drybulk size range | t             180,000            
Value of share consideration paid in connection with purchase of vessel         $ 127,100,000 356,800,000              
Value of cash acquired under common control transaction   108,600,000     108,600,000     $ 108,600,000          
Noncash or Part Noncash Acquisition, Payables Assumed             $ 150,000,000            
Cash acquired upon purchase of SPC's           $ 25,100,000.0 $ 43,400,000            
Cost on newbuildings acquired from common control transaction   $ 78,200,000     $ 78,200,000     $ 78,200,000          
Number of SPCs acquired | company         12 13 5            
Frontline 2012 [Member] | Common Stock [Member]                          
Related Party Transaction [Line Items]                          
Number of shares issued as consideration | shares         31,000,000 31,000,000 15,500,000 31,000,000   0 0    
Share price (in USD per share) | $ / shares   $ 4.10     $ 4.10   $ 12.54 $ 4.10         $ 11.51
Frontline 2012 [Member] | Capital Addition Purchase Commitments [Member]                          
Related Party Transaction [Line Items]                          
Noncash or Part Noncash Acquisition, Payables Assumed           $ 490,000,000.0              
Karpasia [Member]                          
Related Party Transaction [Line Items]                          
Cash paid to acquire SPCs             $ 24,000,000            
Karpasia [Member] | Common Stock [Member]                          
Related Party Transaction [Line Items]                          
Number of shares issued as consideration | shares             3,100,000.0     0      
Seatankers Management Co, Ltd [Member]                          
Related Party Transaction [Line Items]                          
Revenue from Related Parties                   $ 310,000 $ 0 0  
ICB Shipping (Bermuda) Ltd [Member]                          
Related Party Transaction [Line Items]                          
Related Party Transaction, Expenses from Transactions with Related Party                   579,000 2,315,000 2,315,000  
General Management Fees Expenses               $ 2,300,000.0          
Gross freight revenue commission expense rate               1.25%          
Management fee commissions on sale of vessels               1.00%          
Vessel purchase cost commission expense rate               1.00%          
Frontline Ltd [Member]                          
Related Party Transaction [Line Items]                          
Newbuilding Contract, Sold                   1,900,000      
Loss on Sale of Newbuilding Contract                   $ 8,900,000      
Number of newbuilding vessels converted and sold                   2      
Management Fee Expense                   $ 115,000      
Ship Finance International Ltd [Member]                          
Related Party Transaction [Line Items]                          
Related Party Transaction, Expenses from Transactions with Related Party                   $ 12,060,000 0 0  
Profit share percentage                   33.00%      
Revenue from Related Parties                   $ 560,000 0 0  
Number of vessels sold and leased back                 0        
3M USD LIBOR Variable rate                   300.00%      
Base rate                   0.40%      
Contingent rental expenses                   $ 2,500,000      
Management [Member]                          
Related Party Transaction [Line Items]                          
Amended General Management Agreement Termination percent of issued and outstanding shares held by shareholders     6666.67%                    
Frontline Management (Bermuda) Ltd [Member]                          
Related Party Transaction [Line Items]                          
Related Party Transaction, Expenses from Transactions with Related Party                   13,192,000 2,962,000 154,000  
Management Fee to be Paid Per Annum                   33,000      
Seateam Management Pte Ltd [Member]                          
Related Party Transaction [Line Items]                          
Related Party Transaction, Expenses from Transactions with Related Party                   $ 1,932,000 $ 562,000 228,000  
Number of Vessels Under Ship Management                   14 3    
The Former Golden Ocean [Member]                          
Related Party Transaction [Line Items]                          
Related Party Transaction, Expenses from Transactions with Related Party                   $ 134,000 $ 1,034,000 $ 408,000  
KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum [Member] | Ship Finance International Ltd [Member]                          
Related Party Transaction [Line Items]                          
Charter Term, Contractual, Period 2                   3 years      
Daily Operating Expenses Rate                   $ 7,000      
Number of vessels sold and leased back       8                  
Daily Time Charter Rate, Period 1, Adjusted                   50      
Purchase option, Vessels                   $ 112,000,000      
Charter term, Extension                   3 years      
Charter Term, Contractual                   10 years      
Daily Time Charter Rate, Period 1                   $ 17,600      
Charter Term, Contractual, Period 1                   7 years      
Daily Time Charter Rate, Period 2, Adjusted                   $ 25      
Daily Time Charter Rate, Period 2                   14,900      
Daily Time Charter Rate, Extension                   14,900      
Sale Leaseback Transaction, Historical Cost       $ 272,000,000                  
Average: KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang, Golden Zhoushan, Golden Beijing and Golden Magnum [Member] | Ship Finance International Ltd [Member]                          
Related Party Transaction [Line Items]                          
Operating Leases, Rent Expense, Net                   $ 12,100,000 $ 0    
Sale Leaseback Transaction, Historical Cost       $ 34,000,000                  
Vessels owned prior to the merger with the Former Golden Ocean [Member] | KSL China, Battersea, Belgravia, Golden Future, Golden Zhejiang [Member] | Ship Finance International Ltd [Member]                          
Related Party Transaction [Line Items]                          
Number of vessels sold and leased back       5       5          
Vessels acquired upon the merger with the Former Golden Ocean [Member] | Golden Zhoushan, Golden Beijing and Golden Magnum [Member] | Ship Finance International Ltd [Member]                          
Related Party Transaction [Line Items]                          
Number of vessels sold and leased back       3                  
United Freight Carriers [Member]                          
Related Party Transaction [Line Items]                          
Equity Method Investment, Ownership Percentage                   50.00%      
Dry Bulk Carriers [Member] | Seatankers Management Co, Ltd [Member]                          
Related Party Transaction [Line Items]                          
Number of Vessels Under Commercial Management                   21      
Commercial Management Fee Revenue                   $ 125      
Dry Bulk Carriers [Member] | Ship Finance International Ltd [Member]                          
Related Party Transaction [Line Items]                          
Number of Vessels Under Commercial Management                   12      
Commercial Management Fee Revenue                   $ 125      
Container Carriers [Member] | Ship Finance International Ltd [Member]                          
Related Party Transaction [Line Items]                          
Number of Vessels Under Commercial Management                   11      
Commercial Management Fee Revenue                   $ 65