INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2013

INTANGIBLE ASSETS [Abstract]

Schedule of Intangible Assets and Unfavorable Lease Terms

	Cost		Accumulated Amortization			Net Book Value
Total favorable lease terms charter-out December 31, 2011	$	227,335	$	(50,754	)	$	176,581
Additions		21,193		(37,295	)		(16,102	)
Total favorable lease terms charter-out December 31, 2012	$	248,528	$	(88,049	)	$	160,479
Additions		-		(19,226	)		(19,226	)
Write-off of intangible asset		-		(3,205	)		(3,205	)
Total favorable lease terms charter-out June 30, 2013	$	248,528	$	(110,480	)	$	138,048

Schedule of Amortization (Expense) / Income Of Favorable and Unfavorable Leases

	Three Month Period Ended						Six Month Period Ended
	June 30, 2013			June 30, 2012			June 30, 2013			June 30, 2012
Favorable lease terms charter-out	$	(9,614)		$	(9,089	)	$	(19,226	)	$	(18,070	)
Write-off of intangible asset		(3,205	)		-			(3,205	)		-
Total	$	(12,819)		$	(9,089	)	$	(22,431	)	$	(18,070	)

Schedule of aggregate amortizations of the intangibles

Year	Amount
2014	$	33,706
2015		22,758
2016		18,262
2017		17,526
2018 and thereafter		45,796
	$	138,048