Debt Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

The Company’s long-term debt consists of the bank loans and financing obligations summarized as follows (in thousands):

	June 30, 2020		December 31, 2019
$12.5 Million Credit Facility	$	—	$	8,617
$27.3 Million Credit Facility	—		8,813
$85.5 Million Credit Facility	35,971		46,499
$38.7 Million Credit Facility	—		10,200
$12.8 Million Credit Facility	—		11,475
$30.0 Million Credit Facility	28,007		27,198
$60.0 Million Credit Facility	25,442		26,573
$184.0 Million Credit Facility	71,591		130,145
$34.0 Million Credit Facility	15,857		31,571
$90.0 Million Credit Facility	78,150		82,100
$19.6 Million Lease Financing - SBI Rumba	16,253		16,883
$19.0 Million Lease Financing - SBI Tango	16,709		17,303
$19.0 Million Lease Financing - SBI Echo	16,833		17,396
$20.5 Million Lease Financing - SBI Hermes	18,416		19,059
$21.4 Million Lease Financing - SBI Samba	19,679		20,384
CMBFL Lease Financing	107,644		113,006
$45.0 Million Lease Financing - SBI Virgo & SBI Libra	41,383		40,027
AVIC Lease Financing	106,703		111,450
$67.3 Million Lease Financing	62,615		—
Total bank loans and financing obligations outstanding	661,253		738,699
Less: Current portion	(71,049)		(75,276)
	$	590,204	$	663,423

(amounts in thousands)	June 30, 2020						December 31, 2019
	Current		Non-current		Total		Current		Non-current		Total
Total debt, gross	$	71,049	$	590,204	$	661,253	$	75,276	$	663,423	$	738,699
Unamortized deferred financing costs	(1,059)		(7,990)		(9,049)		(1,161)		(9,164)		(10,325)
Total debt, net	$	69,990	$	582,214	$	652,204	$	74,115	$	654,259	$	728,374

Schedule of Long-term Debt Instruments [Table Text Block]

Secured Credit Facilities

The Company has six credit agreements with banks in place, which are collateralized by the Company’s vessels. The following is a summary of those credit agreements as of June 30, 2020:

($000’s)	$85.5 Million Credit Facility		$30.0 Million Credit Facility		$60.0 Million Credit Facility		$184.0 Million Credit Facility		$34.0 Million Credit Facility		$90.0 Million Credit Facility
Date of Agreement	December 5, 2017		September 13, 2018		September 11, 2018		September 21, 2018		October 3, 2018		November 8, 2018
Total Vessels Financed
Kamsarmax	—		2		—		5		2		—
Ultramax	3		—		2		6		—		6
Interest Rate-LIBOR+	2.850	%	2.200	%	2.250	%	2.400	%	2.350	%	2.350	%
Commitment Fee	1.140	%	0.880	%	0.900	%	0.960	%	1.175	%	1.000	%
Maturity Date	February 15, 2023		September 18, 2023		September 14, 2023		September 21, 2023		October 3, 2025		November 8, 2023
Amount outstanding	35,971		28,007		25,442		71,591		15,857		78,150
Carrying Value of Vessels Collateralized	70,347		61,372		53,116		311,888		55,302		134,618
Amount Available	—		—		2,862		89,786		17,000		2,850

Interest And Finance Costs [Table Text Block]

	Six Months Ended June 30,
(amounts in thousands)	2020		2019
Interest expense	$	17,663	$	22,972
Amortization of deferred financing costs	2,022		4,429
Write-off of deferred financing costs	366		446
Change in the fair value of interest rate caps	—		200
Other	145		123
Financial expense, net	$	20,196	$	28,170