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Commitments and contingencies

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

16. Commitments and contingencies:

(a)

At December 31, 2018, the minimum future revenues to be received on committed time-charter party agreements and interest income from direct financing leases are as follows:

2019	$	1,094,608
2020		977,926
2021		844,261
2022		688,537
2023		469,754
Thereafter		751,473
	$	4,826,559

The minimum future revenues are based on 100% utilization, relate to committed time-charter party agreements currently in effect and assume no renewals or extensions.

(b)

At December 31, 2018, based on the contractual delivery dates, the Company had nil commitments (2017 – $140,600,000) for installment payments for vessels under construction.

(c)

At December 31, 2018, the commitment under operating leases for vessels is $1,279,074,000 for the remainder of 2019 to 2029 and for office space is $8,401,000 for the remainder of 2019 to 2024. Total commitments under these leases are as follows:

2019	$	159,976
2020		159,171
2021		158,326
2022		151,696
2023		150,760
Thereafter		507,546
	$	1,287,475