XML 70 R56.htm IDEA: XBRL DOCUMENT v3.8.0.1
RELATED PARTY TRANSACTIONS (Details)
3 Months Ended 9 Months Ended 11 Months Ended
Dec. 17, 2013
USD ($)
Sep. 30, 2017
USD ($)
item
Mar. 31, 2017
item
Sep. 30, 2016
USD ($)
Sep. 30, 2017
USD ($)
item
Sep. 30, 2016
USD ($)
Mar. 31, 2016
USD ($)
Dec. 31, 2016
USD ($)
Related party transactions                
Revenue from related party   $ 47,887,000   $ 65,529,000 $ 238,573,000 $ 270,960,000    
Working capital at Navig8 pools   $ 26,950,000     $ 26,950,000     $ 33,100,000
Navig8 Limited                
Related party transactions                
Ownership percentage in outstanding common shares (as a percent)   4.00%     4.00%      
Navig8 Pools                
Related party transactions                
Working capital at Navig8 pools   $ 27,000,000     $ 27,000,000     33,100,000
Navig8 Group                
Related party transactions                
Revenue from related party   47,900,000   65,600,000 238,600,000 271,000,000    
Due from related parties   27,900,000     27,900,000     60,700,000
Navig8 Group | VL8 Pool                
Related party transactions                
Revenue from related party   39,800,000   42,600,000 186,800,000 167,600,000    
Due from related parties   17,000,000     17,000,000     40,900,000
Navig8 Group | Suez8 Pool                
Related party transactions                
Revenue from related party   7,300,000   18,400,000 42,600,000 82,300,000    
Due from related parties   8,900,000     8,900,000     16,100,000
Navig8 Group | V8 Pool                
Related party transactions                
Revenue from related party   800,000   4,600,000 9,200,000 21,100,000    
Due from related parties   2,000,000     $ 2,000,000     3,700,000
VL8 Pool Inc. | VL8 Pool                
Related party transactions                
Commercial Management Fee (as a percent)         1.25%      
Revised operating capital to be provided to related party             $ 1,000,000  
V8 Pool Inc. | Suez8 Pool                
Related party transactions                
Revised operating capital to be provided to related party             0  
V8 Pool Inc. | V8 Pool                
Related party transactions                
Commercial Management Fee (as a percent)         2.00%      
Revised operating capital to be provided to related party             700,000  
Navig8 Shipmanagement Pte Ltd. | Supervision agreements                
Related party transactions                
Supervision fee per vessel         $ 500,000      
Supervision fees incurred   200,000   900,000 700,000 2,600,000    
Due to related parties   300,000     300,000     1,300,000
Navig8 Limited | Corporate administration agreement | Navig8 Crude Tankers Inc                
Related party transactions                
Corporate administration fees per vessel per day $ 250.00              
Corporate administration fees   300,000   300,000 900,000 900,000    
Due to related parties   100,000     100,000     100,000
Peter C Georgiopoulos & Company LLC | Office expenses                
Related party transactions                
Due from related parties   4,000     4,000     4,000
Amount of expense incurred on behalf of related parties   2,000   1,000 5,000 4,000    
Genco | Business, travel, and entertainment costs                
Related party transactions                
Due from related parties   0     0     0
Amount of expense incurred on behalf of related parties       26,000   73,000    
Aegean | Bunker and lubricating oil purchases                
Related party transactions                
Bunkers and lubricating oils purchased   600,000   1,800,000 2,500,000 3,700,000    
Due to related parties   200,000     200,000     0
Aegean | Rent and other expenses                
Related party transactions                
Due from related parties   0     0     0
Amount of expense incurred on behalf of related parties   50,000   50,000 200,000 200,000    
Chemical | Rent and other expenses                
Related party transactions                
Due from related parties   2,000     2,000     100
Amount of expense incurred on behalf of related parties   $ 20,000   15,000 $ 64,000 47,000    
Gener8 Pericles and Gener8 Poseidon                
Related party transactions                
Number of vessels held for sale | item   2     2      
Gener8 Pericles | Navig8 Pools | Prepaid Expenses and Other Current Assets                
Related party transactions                
Working capital at Navig8 pools   $ 700,000     $ 700,000      
Gener8 Poseidon | Navig8 Pools | Prepaid Expenses and Other Current Assets                
Related party transactions                
Working capital at Navig8 pools   1,000,000     1,000,000      
Nave Quasar | Navig8 Inc.                
Related party transactions                
Gross daily rate             $ 26,000  
Revenue share above daily threshold (as a percent)             50.00%  
Threshold gross daily rate             $ 30,000  
Amount of expense incurred on behalf of related parties   $ 6,000   $ 19,000 $ 19,000 $ 3,200,000    
Gener8 Ulysses | Navig8 Pools | Prepaid Expenses and Other Current Assets                
Related party transactions                
Working capital at Navig8 pools               1,000,000
Gener8 Spyridon | Navig8 Pools | Prepaid Expenses and Other Current Assets                
Related party transactions                
Working capital at Navig8 pools               $ 900,000
Gener8 Spyridon and Gener8 Ulysses | Navig8 Pools                
Related party transactions                
Number of Vessels Sold | item     2          
VLCC vessels | VL8 Pool Inc. | VL8 Pool                
Related party transactions                
Number of vessels directly admitted to pool | item         22      
Daily pool administration fee         $ 325.00      
Aframax | V8 Pool Inc. | V8 Pool                
Related party transactions                
Number of vessels directly admitted to pool | item         1      
Daily pool administration fee         $ 250.00      
Suezmax Vessels | V8 Pool Inc. | Suez8 Pool                
Related party transactions                
Number of vessels directly admitted to pool | item         7      
Daily pool administration fee         $ 325.00