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Leases

12 Months Ended

Dec. 31, 2011

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS [Abstract]


NOTE 17 -	LEASES

The future minimum contractual lease income (charter-out rates are presented net of commissions), is as follows:


	Amount

2012	$	188,839
2013		158,522
2014		98,823
2015		83,288
2016		69,668
2017 and thereafter		212,815

	$	811,955

- Definition

The entire disclosure for operating leases of a lessor. This may inlcude a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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