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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2019
Fair Value of Financial Instruments [Abstract]  
Fair Value of Financial Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

June 30, 2019

 

  

December 31, 2018

 

 

  

Book Value

 

  

Fair Value

 

  

Book Value

 

  

Fair Value

 

Cash and cash equivalents

  

$

41,402

 

  

$

41,402

 

  

$

44,009

 

  

$

44,009

 

Restricted cash

  

$

560

 

  

$

560

 

  

$

2,600

 

  

$

2,600

 

Accounts receivable

 

$

16,757

 

  

$

16,757

 

  

$

25,100

 

  

$

25,100

 

Accounts payable

 

$

11,182

 

  

$

11,182

 

  

$

12,621

 

  

$

12,621

 

Ship mortgage notes and premium

  

$

664,424

 

  

$

535,477

 

  

$

663,399

 

  

$

511,331

 

Other long-term debt, net of deferred finance costs

  

$

522,985

 

  

$

528,030

 

  

$

542,438

 

  

$

535,519

 

Due from related parties, long-term

  

$

59,320

 

  

$

59,320

 

  

$

58,016

 

  

$

58,016

 

 
Fair value Measurements on a Nonrecurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Fair Value Measurements at June 30, 2019 Using

 

 

  

Total

 

  

Level I

 

  

Level II

 

  

Level III

 

Cash and cash equivalents

  

$

41,402

 

  

$

41,402

 

  

$

—  

 

  

$

—  

 

Restricted cash

  

$

560

 

  

$

560

 

  

$

—  

 

  

$

—  

 

Accounts receivable

 

$

16,757

 

 

$

16,757

 

 

$

—  

 

  

$

—  

 

Accounts payable

 

$

11,182

 

 

$

11,182

 

 

$

—  

 

  

$

—  

 

Ship mortgage notes and premium

  

$

535,477

 

  

$

535,477

 

  

$

—  

 

  

$

—  

 

Other long-term debt(1)

  

$

528,030

 

  

$

—  

 

  

$

528,030

 

  

$

—  

 

Due from related parties, long-term(2)

  

$

59,320

 

  

$

—  

 

  

$

59,320

 

  

$

—  

 

 

 

 

  

Fair Value Measurements at December 31, 2018 Using

 

 

  

Total

 

  

Level I

 

  

Level II

 

  

Level III

 

Cash and cash equivalents

  

$

44,009

 

  

$

44,009

 

  

$

—  

 

  

$

—  

 

Restricted cash

  

$

2,600

 

  

$

2,600

 

  

$

—  

 

  

$

—  

 

Accounts receivable

 

$

25,100

 

 

$

25,100

 

 

$

—  

 

  

$

—  

 

Accounts payable

 

$

12,621

 

 

$

12,621

 

 

$

—  

 

  

$

—  

 

Ship mortgage notes and premium

  

$

511,331

 

  

$

511,331

 

  

$

—  

 

  

$

—  

 

Other long-term debt(1)

  

$

535,519

 

  

$

—  

 

  

$

535,519

 

  

$

—  

 

Due from related parties, long-term(2)

  

$

58,016

 

  

$

—  

 

  

$

58,016

 

  

$

—  

 

 

(1)     The fair value of the Company’s other long-term debt is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities as well as taking into account the Company’s creditworthiness.

(2)     The fair value of the Company’s long term amounts due from related parties is estimated based on currently available debt with similar contract terms, interest rate and remaining maturities as well as taking into account the counterparty’s creditworthiness.