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Segment Reporting (Tables)
 9 Months Ended
Sep. 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 and nine months ended September 30, 2017 and September 30, 2016.
Three Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship
Transfer Segment
 
Inter-segment Adjustment (1)
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
 
81,758

 
 
11,902

 
 
(2,422
)
 
 
91,238

 
Voyage expenses
 
(20,725
)
 
 
—

 
 
2,422

 
 
(18,303
)
 
Vessel operating expenses
 
(32,227
)
 
 
(8,731
)
 
 
—

 
 
(40,958
)
 
Time-charter hire expense
 
(4,629
)
 
 
(1,206
)
 
 
—

 
 
(5,835
)
 
Depreciation and amortization
 
(23,071
)
 
 
(1,257
)
 
 
—

 
 
(24,328
)
 
General and administrative expenses (3)
 
(6,823
)
 
 
(799
)
 
 
—

 
 
(7,622
)
 
(Loss) gain on sale of vessels
 
(7,968
)
 
 
42

 
 
—

 
 
(7,926
)
 
Loss from operations
 
(13,685
)
 
 
(49
)
 
 
—

 
 
(13,734
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity loss
 
(274
)
 
 
—

 
 
—

 
 
(274
)
 

Three Months Ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment Adjustment (1)
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
 
100,559

 
 
9,837

 
 
(842
)
 
 
109,554

 
Voyage expenses
 
(15,480
)
 
 
—

 
 
842

 
 
(14,638
)
 
Vessel operating expenses
 
(37,462
)
 
 
(7,321
)
 
 
—

 
 
(44,783
)
 
Time-charter hire expense
 
(10,784
)
 
 
(551
)
 
 
—

 
 
(11,335
)
 
Depreciation and amortization
 
(24,651
)
 
 
(1,237
)
 
 
—

 
 
(25,888
)
 
General and administrative expenses (3)
 
(7,597
)
 
 
(617
)
 
 
—

 
 
(8,214
)
 
Loss on sale of vessels
 
(7,903
)
 
 
—

 
 
—

 
 
(7,903
)
 
(Loss) income from operations
 
(3,318
)
 
 
111

 
 
—

 
 
(3,207
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity income
 
567

 
 
—

 
 
—

 
 
567

 
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment
Adjustment (1)
 
Total
 
 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
 
299,154

 
 
39,387

 
 
(8,029
)
 
 
330,512

 
Voyage expenses
 
(69,517
)
 
 
—

 
 
8,029

 
 
(61,488
)
 
Vessel operating expenses
 
(100,586
)
 
 
(31,363
)
 
 
—

 
 
(131,949
)
 
Time-charter hire expense
 
(23,698
)
 
 
(3,761
)
 
 
—

 
 
(27,459
)
 
Depreciation and amortization
 
(69,857
)
 
 
(3,795
)
 
 
—

 
 
(73,652
)
 
General and administrative expenses (3)
 
(22,258
)
 
 
(2,617
)
 
 
—

 
 
(24,875
)
 
(Loss) gain on sale of vessels
 
(12,545
)
 
 
50

 
 
—

 
 
(12,495
)
 
Income (loss) from operations 
 
693

 
 
(2,099
)
 
 
—

 
 
(1,406
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity loss
 
(27,174)
 
 
—

 
 
—

 
 
(27,174
)
 
Nine months ended September 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment
Adjustment (1)
 
Total

 
 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
 
398,440

 
 
30,922

 
 
(2,013
)
 
 
427,349

 
Voyage expenses
 
(38,501
)
 
 
—

 
 
2,013

 
 
(36,488
)
 
Vessel operating expenses
 
(112,248
)
 
 
(23,997
)
 
 
—

 
 
(136,245
)
 
Time-charter hire expense
 
(46,670
)
 
 
(1,294
)
 
 
—

 
 
(47,964
)
 
Depreciation and amortization
 
(74,925
)
 
 
(3,651
)
 
 
—

 
 
(78,576
)
 
General and administrative expenses (3)
 
(24,773
)
 
 
(2,415
)
 
 
—

 
 
(27,188
)
 
(Loss) gain on sale of vessels
 
(14,323
)
 
 
—

 
 
—

 
 
(14,323
)
 
Income (loss) from operations
 
87,000

 
 
(435
)
 
 
—

 
 
86,565

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity income
 
6,416

 
 
—

 
 
—

 
 
6,416

 

(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
 
September 30, 2017
 
December 31, 2016
 
$
 
$
Conventional Tanker Segment
1,635,684

 
1,828,550

Ship-to-Ship Transfer Segment
39,663

 
41,663

Cash and cash equivalents
60,606

 
94,157

Consolidated total assets
1,735,953

 
1,964,370