SALE/LEASEBACK ARRANGEMENTS (Tables)

6 Months Ended

Sep. 30, 2016

Schedule of Future Minimum Lease Payments

As of September 30, 2016 the company operated 16 vessels under sale/leaseback arrangements of which nine are stacked. As of September 30, 2016, the future minimum lease payments for vessels under operating lease terms are as follows:

	Fiscal 2015		Fiscal 2014
Fiscal year ending (In thousands)	Sale/Leaseback		Sale/Leaseback		Total
Remaining six months of 2017	$	4,743		10,439		15,182
2018		9,604		23,486		33,090
2019		10,234		24,800		35,034
2020		11,497		25,519		37,016
2021		11,594		19,979		31,573
Thereafter		19,273		20,063		39,336
Total future lease payments	$	66,945		124,286		191,231