Note 17 - Subsequent Events

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE

17

 – SUBSEQUENT EVENTS

On

February 25, 2019,

the Company entered into an agreement with Ulstein Verft to construct a polar ice class vessel with a total purchase price of

1,291.0

million Norwegian Kroner (NOK

)

. The purchase price is subject to potential adjustments from contract specifications for variations in speed, deadweight, fuel consumption and delivery date. The purchase price is due in installments, with the

first

20%

to be paid shortly after execution of the agreement,

50%

 to be paid over the duration of the build and the final

30%

 due upon delivery and acceptance of the vessel. The vessel is targeted to be delivered in

September 2021.