Note 4 - Vessels

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 4.  Vessels

The Company’s operating fleet consisted of 45 drybulk vessels. At October 15, 2014, the Company’s vessels were adjusted to a fair value aggregating $842,625,000. The fair values were based primarily on valuations obtained from third-party specialists principally utilizing the market value approach. Fresh-start reporting adjustments included the elimination of the Predecessor’s aggregate accumulation of depreciation as of October 15, 2014.

Vessel and vessel improvements consist of the following:

	Successor			Predecessor
	October 16, 2014			January 1, 2014			January 1, 2013
		To			To			To
	December 31, 2014			October 15, 2014			December 31, 2013
Beginning Vessels and Improvements	$	842,625,000		$	1,639,555,368		$	1,714,307,653
Improvements		194,514			291,244			92,100
Depreciation Expense		(8,766,830	)		(58,614,065	)		(74,844,385	)
Ending Vessels and Improvements	$	834,052,684		$	1,581,232,547		$	1,639,555,368