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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Schedule of Company's Revenue and Income from Operations by Segment
The following tables include results for the Company’s revenues and income from vessel operations by segment for the three months and six months ended June 30, 2017 and June 30, 2016.
Three Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship
Transfer Segment
 
Inter-segment Adjustment (1)
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
 
96,841

 
 
14,597

 
 
(2,649
)
 
 
108,789

 
Voyage expenses
 
(22,079
)
 
 
—

 
 
2,649

 
 
(19,430
)
 
Vessel operating expenses
 
(34,278
)
 
 
(12,575
)
 
 
—

 
 
(46,853
)
 
Time-charter hire expense
 
(6,935
)
 
 
(1,062
)
 
 
—

 
 
(7,997
)
 
Depreciation and amortization
 
(23,157
)
 
 
(1,258
)
 
 
—

 
 
(24,415
)
 
General and administrative expenses
 
(7,513
)
 
 
(852
)
 
 
—

 
 
(8,365
)
 
(Loss) gain on sale of vessels
 
(150
)
 
 
8

 
 
—

 
 
(142
)
 
Income (loss) from operations (3)
 
2,729

 
 
(1,142
)
 
 
—

 
 
1,587

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity loss
 
(28,027
)
 
 
—

 
 
—

 
 
(28,027
)
 

Three Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment Adjustment (1)
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
 
135,617

 
 
10,999

 
 
(470
)
 
 
146,146

 
Voyage expenses
 
(10,088
)
 
 
266

 
 
470

 
 
(9,352
)
 
Vessel operating expenses
 
(37,278
)
 
 
(9,111
)
 
 
—

 
 
(46,389
)
 
Time-charter hire expense
 
(15,456
)
 
 
(457
)
 
 
—

 
 
(15,913
)
 
Depreciation and amortization
 
(24,320
)
 
 
(1,301
)
 
 
—

 
 
(25,621
)
 
General and administrative expenses
 
(8,367
)
 
 
(1,136
)
 
 
—

 
 
(9,503
)
 
Loss on sale of vessels
 
(6,420
)
 
 
—

 
 
—

 
 
(6,420
)
 
Income (loss) from operations (3)
 
33,688

 
 
(740
)
 
 
—

 
 
32,948

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity income
 
3,615

 
 
—

 
 
—

 
 
3,615

 
Six Months Ended June 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment
Adjustment (1)
 
Total
 
Revenues (2)
 
217,396

 
 
27,485

 
 
(5,607
)
 
 
239,274

 
Voyage expenses
 
(48,792
)
 
 
—

 
 
5,607

 
 
(43,185
)
 
Vessel operating expenses
 
(68,359
)
 
 
(22,632
)
 
 
—

 
 
(90,991
)
 
Time-charter hire expense
 
(19,069
)
 
 
(2,555
)
 
 
—

 
 
(21,624
)
 
Depreciation and amortization
 
(46,786
)
 
 
(2,538
)
 
 
—

 
 
(49,324
)
 
General and administrative expenses
 
(15,435
)
 
 
(1,818
)
 
 
—

 
 
(17,253
)
 
(Loss) gain on sale of vessels
 
(4,577
)
 
 
8

 
 
—

 
 
(4,569
)
 
Income (loss) from operations (3)
 
14,378

 
 
(2,050
)
 
 
—

 
 
12,328

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity loss
 
(26,900)
 
 
—

 
 
—

 
 
(26,900
)
 
Six months ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment
Adjustment (1)
 
Total

 
Revenues (2)
 
297,881

 
 
21,085

 
 
(1,171
)
 
 
317,795

 
Voyage expenses
 
(23,021
)
 
 
—

 
 
1,171

 
 
(21,850
)
 
Vessel operating expenses
 
(74,786
)
 
 
(16,676
)
 
 
—

 
 
(91,462
)
 
Time-charter hire expense
 
(35,886
)
 
 
(743
)
 
 
—

 
 
(36,629
)
 
Depreciation and amortization
 
(50,274
)
 
 
(2,414
)
 
 
—

 
 
(52,688
)
 
General and administrative expenses
 
(17,176
)
 
 
(1,798
)
 
 
—

 
 
(18,974
)
 
(Loss) gain on sale of vessels
 
(6,420
)
 
 
—

 
 
—

 
 
(6,420
)
 
Income (loss) from operations (3)
 
90,318

 
 
(546
)
 
 
—

 
 
89,772

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity income
 
5,849

 
 
—

 
 
—

 
 
5,849

 

(1)
The ship-to-ship transfer segment provides lightering support services to the conventional tanker segment for full service lightering operations and the pricing for such services was based on actual costs incurred per voyage starting January 1, 2017 (2016 - based on estimated costs of approximately $25,000 per voyage).
(2)
Revenues, net of the inter-segment adjustment, earned from the ship-to-ship transfer segment are reflected in Other Revenues in the Company's consolidated statements of (loss) income.
(3)
Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).
Reconciliation of Total Segment Assets to Total Assets Presented in Consolidated Balance Sheets
A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets is as follows:
 
As at
 
As at
 
June 30, 2017
 
December 31, 2016
 
$
 
$
Conventional Tanker Segment
1,675,224

 
1,828,548

Ship-to-Ship Transfer Segment
40,947

 
41,663

Cash and cash equivalents
87,255

 
94,157

Consolidated total assets
1,803,426

 
1,964,368