Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document Information [Line Items] | |
Entity Registrant Name | Costamare Inc. |
Entity Central Index Key | 1,503,584 |
Trading Symbol | cmre |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding (in shares) | 112,464,230 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Amendment Flag | false |
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
CURRENT ASSETS: | ||
Cash and cash equivalents (Note 2) | $ 113,714 | $ 178,986 |
Restricted cash (Note 2) | 5,600 | 7,238 |
Accounts receivable | 5,625 | 1,324 |
Inventories (Note 5) | 11,020 | 9,662 |
Due from related parties (Note 3) | 4,681 | 5,273 |
Fair value of derivatives (Notes 18 and 19) | 3,514 | 112 |
Insurance claims receivable | 6,476 | 2,091 |
Prepaid lease rentals (Note 11) | 8,752 | 8,752 |
Accrued charter revenue (Note 12) | 185 | |
Time charter assumed (Note 12) | 190 | |
Prepayments and other | 6,358 | 5,697 |
Vessel held for sale (Note 6) | 4,838 | 7,315 |
Total current assets | 170,768 | 226,635 |
FIXED ASSETS, NET: | ||
Capital leased assets (Note 11) | 401,901 | 415,665 |
Vessels and advances, net (Note 6) | 2,206,786 | 1,579,509 |
Total fixed assets, net | 2,608,687 | 1,995,174 |
NON-CURRENT ASSETS: | ||
Equity method investments (Notes 2 and 9) | 131,082 | 161,897 |
Prepaid lease rentals, non-current (Note 11) | 34,167 | 42,918 |
Accounts receivable, non-current (Note 3) | 17,789 | 1,800 |
Deferred charges, net (Note 7) | 26,250 | 15,429 |
Restricted cash (Note 2) | 47,177 | 32,661 |
Time charter assumed, non-current (Note 12) | 1,222 | |
Fair value of derivatives, non-current (Notes 18 and 19) | 3,727 | 4,358 |
Other non-current assets (Note 4) | 9,942 | 9,426 |
Total assets | 3,050,811 | 2,490,298 |
CURRENT LIABILITIES: | ||
Current portion of long-term debt, net of deferred financing costs (Note 10) | 149,162 | 206,318 |
Accounts payable | 8,586 | 6,314 |
Due to related parties (Note 3) | 196 | 203 |
Capital lease obligations, net (Note 11) | 34,299 | 32,874 |
Accrued liabilities | 17,624 | 10,755 |
Unearned revenue (Note 12) | 12,432 | 15,310 |
Fair value of derivatives (Notes 18 and 19) | 3,307 | |
Other current liabilities | 2,370 | 1,627 |
Total current liabilities | 224,669 | 276,708 |
NON-CURRENT LIABILITIES: | ||
Long-term debt, net of current portion and deferred financing costs (Note 10) | 1,159,244 | 644,662 |
Capital lease obligations, net of current portion (Note 11) | 305,033 | 339,332 |
Unearned revenue, net of current portion (Note 12) | 4,741 | 11,057 |
Total non-current liabilities | 1,469,018 | 995,051 |
COMMITMENTS AND CONTINGENCIES (Note 13) | ||
STOCKHOLDERS’ EQUITY: | ||
Preferred stock (Note 14) | 0 | 0 |
Common stock (Note 14) | 11 | 11 |
Additional paid-in capital (Note 14) | 1,313,840 | 1,175,774 |
Retained earnings | 38,734 | 43,723 |
Accumulated other comprehensive income/(loss) (Notes 18 and 20) | 4,539 | (969) |
Total stockholders’ equity | 1,357,124 | 1,218,539 |
Total liabilities and stockholders’ equity | $ 3,050,811 | $ 2,490,298 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
REVENUES: | |||
Voyage revenue | $ 380,397,000 | $ 412,433,000 | $ 468,189,000 |
EXPENSES: | |||
Voyage expenses | (5,847,000) | (2,649,000) | (1,887,000) |
Voyage expenses-related parties (Note 3) | (3,201,000) | (3,093,000) | (3,512,000) |
Vessels’ operating expenses | (110,571,000) | (103,799,000) | (105,783,000) |
General and administrative expenses | (2,908,000) | (3,151,000) | (7,269,000) |
General and administrative expenses – related parties (Note 3) | (6,255,000) | (6,366,000) | (7,451,000) |
Management fees-related parties (Note 3) | (19,533,000) | (18,693,000) | (18,629,000) |
Amortization of dry-docking and special survey costs (Note 7) | (7,290,000) | (7,627,000) | (7,920,000) |
Depreciation (Notes 6, 11 and 20) | (96,261,000) | (96,448,000) | (100,943,000) |
Amortization of prepaid lease rentals, net (Notes 11 and 12) | (8,150,000) | (8,429,000) | (6,779,000) |
Loss on sale / disposal of vessels, net (Note 6) | (3,071,000) | (4,856,000) | (4,440,000) |
Loss on vessel held for sale (Note 6) | (101,000) | (2,379,000) | (37,161,000) |
Vessels impairment loss (Notes 6 and 7) | 0 | (17,959,000) | 0 |
Foreign exchange gains / (losses), net | (51,000) | 31,000 | (360,000) |
Operating income | 117,158,000 | 137,015,000 | 166,055,000 |
OTHER INCOME / (EXPENSES): | |||
Interest income | 3,454,000 | 2,643,000 | 1,630,000 |
Interest and finance costs (Note 16) | (63,992,000) | (69,840,000) | (72,808,000) |
Swaps breakage cost (Note 18) | (1,234,000) | (9,701,000) | |
Equity gain / (loss) on investments (Note 9) | 12,051,000 | 3,381,000 | (78,000) |
Other, net | 350,000 | 593,000 | 595,000 |
Loss on derivative instruments, net (Note 18) | (548,000) | (916,000) | (3,991,000) |
Total other expenses | (49,919,000) | (64,139,000) | (84,353,000) |
Net Income | 67,239,000 | 72,876,000 | 81,702,000 |
Earnings allocated to Preferred Stock (Note 15) | (30,503,000) | (21,063,000) | (21,063,000) |
Net income available to Common Stockholders | $ 36,736,000 | $ 51,813,000 | $ 60,639,000 |
Earnings per common share, basic and diluted (Note 15) (in dollars per share) | $ 0.33 | $ 0.52 | $ 0.79 |
Weighted average number of shares, basic and diluted (in shares) | 110,395,134 | 100,527,907 | 77,243,252 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income: | $ 67,239 | $ 72,876 | $ 81,702 |
Other comprehensive income: | |||
Unrealized gain on cash flow hedges, net (Notes 18 and 20) | 5,456 | 13,392 | 29,065 |
Net Settlements On Interest Rate Swaps Qualifying for Cash Flow Hedge | (11) | 0 | |
Amounts reclassified from Net settlements on interest rate swaps qualifying for hedge accounting to Depreciation (Note 20) | 63 | 63 | 84 |
Amounts reclassified from Net settlements on interest rate swaps qualifying for hedge accounting to Prepaid lease rentals (Note 11) | 1,076 | ||
Other comprehensive income for the year | 5,508 | 13,455 | 30,225 |
Total comprehensive income for the year | $ 72,747 | $ 86,331 | $ 111,927 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Preferred Stock [Member]Series E Preferred Stock [Member] | Preferred Stock [Member]Series D Preferred Stock [Member] | Preferred Stock [Member]Series C Preferred Stock [Member] | Preferred Stock [Member]Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 4,000,000 | 4,000,000 | 2,000,000 | 75,398,400 | |||||
Balance at Dec. 31, 2015 | $ 0 | $ 0 | $ 0 | $ 8 | $ 963,904 | $ (44,649) | $ 44,247 | $ 963,510 | |
Net income: | 81,702 | 81,702 | |||||||
- Issuance of common stock (Notes 3 and 14) (in shares) | 15,026,481 | ||||||||
- Issuance of common stock (Notes 3 and 14) | $ 1 | 93,847 | 93,848 | ||||||
- Issuance of common stock - expenses (Notes 3 and 14) | (328) | (328) | |||||||
- Dividends - Common stock | (73,470) | (73,470) | |||||||
- Dividends - Preferred stock | (21,063) | (21,063) | |||||||
- Other comprehensive income | 30,225 | 30,225 | |||||||
Balance (in shares) at Dec. 31, 2016 | 4,000,000 | 4,000,000 | 2,000,000 | 90,424,881 | |||||
Balance at Dec. 31, 2016 | $ 9 | 1,057,423 | (14,424) | 31,416 | 1,074,424 | ||||
Net income: | 72,876 | 72,876 | |||||||
- Issuance of common stock (Notes 3 and 14) (in shares) | 17,781,104 | ||||||||
- Issuance of common stock (Notes 3 and 14) | $ 2 | 118,663 | 118,665 | ||||||
- Issuance of common stock - expenses (Notes 3 and 14) | (312) | (312) | |||||||
- Dividends - Common stock | (39,506) | (39,506) | |||||||
- Dividends - Preferred stock | (21,063) | (21,063) | |||||||
- Other comprehensive income | 13,455 | 13,455 | |||||||
Balance (in shares) at Dec. 31, 2017 | 4,000,000 | 4,000,000 | 2,000,000 | 108,205,985 | |||||
Balance at Dec. 31, 2017 | $ 11 | 1,175,774 | (969) | 43,723 | 1,218,539 | ||||
Net income: | 67,239 | 67,239 | |||||||
- Issuance of common stock (Notes 3 and 14) (in shares) | 4,258,245 | ||||||||
- Issuance of common stock (Notes 3 and 14) | 26,842 | 26,842 | |||||||
- Dividends - Common stock | (43,936) | (43,936) | |||||||
- Dividends - Preferred stock | (28,292) | (28,292) | |||||||
- Other comprehensive income | 5,508 | 5,508 | |||||||
- Preferred stock Series E issuance (Note 14) (in shares) | 4,600,000 | ||||||||
- Preferred stock Series E issuance (Note 14) | 111,614 | 111,614 | |||||||
- Preferred stock Series E expenses (Note 14) | (390) | (390) | |||||||
Balance (in shares) at Dec. 31, 2018 | 4,600,000 | 4,000,000 | 4,000,000 | 2,000,000 | 112,464,230 | ||||
Balance at Dec. 31, 2018 | $ 11 | $ 1,313,840 | $ 4,539 | $ 38,734 | $ 1,357,124 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows From Operating Activities: | |||
Net income: | $ 67,239,000 | $ 72,876,000 | $ 81,702,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 96,261,000 | 96,448,000 | 100,943,000 |
Other non-current assets | 4,000,000 | ||
Amortization of debt discount | (779,000) | (715,000) | (659,000) |
Amortization of prepaid lease rentals, net | 8,150,000 | 8,429,000 | 6,779,000 |
Amortization and write-off of financing costs | 2,907,000 | 2,236,000 | 2,613,000 |
Amortization of deferred dry-docking and special survey costs | 7,290,000 | 7,627,000 | 7,920,000 |
Amortization of assumed time charter | 27,000 | ||
Equity based payments | 3,755,000 | 3,866,000 | 4,951,000 |
Net settlements on interest rate swaps qualifying for cash flow hedge | (11,000) | 0 | |
Loss / (Gain) on derivative instruments, net | 162,000 | (1,296,000) | (4,509,000) |
Loss / (Gain) on sale / disposal of vessels, net | 3,071,000 | 4,856,000 | 4,440,000 |
Loss on vessel held for sale | 101,000 | 2,379,000 | 37,161,000 |
Vessels impairment loss | 0 | 17,959,000 | 0 |
Equity (gain) / loss on investments | (12,051,000) | (3,381,000) | 78,000 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (14,368,000) | (578,000) | (10,000) |
Due from related parties | 1,342,000 | (1,826,000) | 2,565,000 |
Inventories | (134,000) | 1,753,000 | (837,000) |
Insurance claims receivable | (5,304,000) | (1,478,000) | (5,413,000) |
Prepayments and other | (251,000) | (1,783,000) | (368,000) |
Accounts payable | 1,926,000 | 2,466,000 | (199,000) |
Due to related parties | (7,000) | 12,000 | (180,000) |
Accrued liabilities | 1,996,000 | (1,969,000) | (6,669,000) |
Unearned revenue | (2,880,000) | (2,335,000) | (545,000) |
Other current liabilities | 204,000 | (46,000) | (39,000) |
Dividend from equity method investees | 8,000,000 | 3,040,000 | 439,000 |
Dry-dockings | (18,568,000) | (5,582,000) | (5,868,000) |
Accrued charter revenue | (7,294,000) | (11,204,000) | (7,730,000) |
Net Cash provided by Operating Activities | 140,784,000 | 191,754,000 | 220,565,000 |
Cash Flows From Investing Activities: | |||
Equity method investments | (5,292,000) | (9,890,000) | (38,630,000) |
Return on Equity method investment | 2,470,000 | 1,460,000 | 2,918,000 |
Proceeds from the settlement of insurance claims | 931,000 | 2,273,000 | 6,433,000 |
Debt securities capital redemption | 46,000 | ||
Cash acquired through asset acquisition | 18,644,000 | ||
Vessel acquisition (and time charters) and advances/Additions to vessel cost | (142,993,000) | (64,231,000) | (2,792,000) |
Proceeds from the sale of vessels, net | 13,595,000 | 26,951,000 | 3,629,000 |
Net Cash used in Investing Activities | (112,645,000) | (43,437,000) | (28,396,000) |
Cash Flows From Financing Activities: | |||
Offering proceeds, net of related expenses | 111,224,000 | 91,675,000 | 69,037,000 |
Proceeds from long-term debt and capital leases | 361,000,000 | 61,625,000 | 222,848,000 |
Repayment of long-term debt and capital leases | (500,173,000) | (253,804,000) | (357,401,000) |
Payment of financing costs | (3,441,000) | (1,733,000) | (3,907,000) |
Dividends paid | (49,143,000) | (37,758,000) | (75,003,000) |
Net Cash used in Financing Activities | (80,533,000) | (139,995,000) | (144,426,000) |
Net increase / (decrease) in cash, cash equivalents and restricted cash | (52,394,000) | 8,322,000 | 47,743,000 |
Cash, cash equivalents and restricted cash at beginning of the year | 218,885,000 | 210,563,000 | 162,820,000 |
Cash, cash equivalents and restricted cash at end of the year | 166,491,000 | 218,885,000 | 210,563,000 |
Supplemental Cash Information: | |||
Cash paid during the year for interest, net of capitalized interest | 60,620,000 | 56,070,000 | 51,186,000 |
Non-Cash Investing and Financing Activities: | |||
Imputed interest | 325,000 | ||
Dividend reinvested in common stock of the Company | $ 23,086,000 | $ 22,811,000 | $ 19,531,000 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and General Information | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. The accompanying consolidated financial statements include the accounts of Costamare Inc. (“Costamare”) and its wholly-owned subsidiaries (collectively, the “Company”). Costamare is organized under the laws of the Republic of the Marshall Islands. On November 4, 2010, 1933, March 27, 2012, October 19, 2012, December 5, 2016 May 31, 2017, four 7,500,000 7,000,000 12,000,000 13,500,000 $0.0001, $14.10 $14.00 $6.00 $7.10 2016, 598,400 3 December 31, 2017, 598,400 598,400 December 31, 2018 ( 3 On July 6, 2016, 14 December 31, 2018, 9,770,630 December 31, 2018, 112,464,230 December 31, 2018, 56.1% August 7, 2013, 2,000,000 7.625% $0.0001, $25.00 January 21, 2014, 4,000,000 8.50% $0.0001, $25.00 May 13, 2015, 4,000,000 8.75% $0.0001, $25.00 January 30, 2018, 4,600,000 8.875% $0.0001, $25.00 As of December 31, 2017 2018, 53 62 316,307 409,345 twenty TEU”), respectively, through wholly-owned subsidiaries incorporated in the Republic of Liberia and the Republic of the Marshall Islands. The Company provides worldwide marine transportation services by chartering its container vessels to some of the world’s leading liner operators under long, medium- and short-term time charters. At December 31, 2018, 85 ten New revenue recognition guidance On January 1, 2018, Revenue from Contracts with Customers (Topic 606 not 2018 not no 2 |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. (a) Principles of Consolidation: Costamare, as the holding company, determines whether it has a controlling financial interest in an entity by first 810 50% 810 10, not not may may December 31, 2017 2018 no Certain prior period amounts in the consolidated Statements of Cash Flows have been reclassified to conform to the current year presentation after that application of the ASU No. 2016 15—Statement 230 ASU No. 2016 18—Statement 230 2 to Cash flows from operating activities (Note 2 2 (b) Use of Estimates: (c) Comprehensive Income / (Loss): 220 two (d) Foreign Currency Translation: (e) Cash and Cash Equivalents: three may may (f) Restricted Cash: Restricted cash also includes bank deposits and deposits in so-called “retention accounts” that are required under the Company’s borrowing arrangements which are used to fund the loan installments coming due. The funds can only be used for the purposes of loan repayment. (g) Accounts Receivable, net: December 31, 2017 2018, $0. (h) Inventories: first first (i) Insurance Claims Receivable: not (j) Vessels, Net: The cost of each of the Company’s vessels is depreciated from the date of acquisition on a straight-line basis over the vessel’s remaining estimated economic useful life, after considering the estimated residual value which is equal to the product of vessels’ lightweight tonnage and estimated scrap rate. Management estimates the useful life of the Company’s vessels to be 30 $0.300 If the estimated economic lives assigned to the Company’s vessels prove to be too long because of unforeseen events such as an extended period of weak markets, the broad imposition of age restrictions by the Company’s customers’, new regulations, or other future events, the remaining estimated useful life of any affected vessel is adjusted accordingly. (k) Time Charters Assumed with the Acquisition of Second-hand Vessels: The Company records identified assets or liabilities associated with the acquisition of a vessel at fair value, determined by reference to market data. The Company values any asset or liability arising from the market value of any time charters assumed when a vessel is acquired from entities that are not not (l) Impairment of Long-lived Assets: not I may 1 The future undiscounted net operating cash flows are determined as the sum of ( x ten 99.2% 12 24 2.76%, ten third ten $0.300 no 2 In Step 2 1 third Therefore, the Company has categorized the fair value of the vessels as Level 2 1 2 The review of the carrying amounts in connection with the estimated recoverable amount of the Company’s vessels as of December 31, 2018 no December 31, 2016 2017, nil $17,959, (m) Long-lived Assets Classified as Held for Sale: 360, one 360 10 35, not not (n) Accounting for Special Survey and Dry-docking Costs: not (o) Financing Costs: third (p) Concentration of Credit Risk: not (q) Voyage Revenues: 15 Revenues from time charter agreements providing for varying annual rates are accounted for as operating leases and thus recognized on a straight-line basis over the non-cancellable rental periods of such agreements, as service is performed. Unearned revenue includes cash received prior to the balance sheet date for which all criteria to recognize as revenue have not On January 1, 2018, No. 2014 09, 606" five five 1 two 2 3 4 5 606 not January 1, 2018, 840. not no no Revenues for 2016, 2017 2018, 10% 2016 2017 2018 A 30 % 28 % 27 % B 28 % 29 % 27 % C 14 % 16 % 10 % D 19 % 21 % 24 % Total 91 % 94 % 88 % (r) Vessels’ Voyage and Operating Expenses: not third Vessel operating expenses are expensed as incurred and primarily consist of crew costs, repairs and maintenance expenses, including underwater inspection expenses, and insurance costs. (s) Derivative Financial Instruments: may zero The Company formally documents all relationships between hedging instruments and hedged items, as well as the risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that are designated as cash flow hedges to specific forecasted transactions or variability of cash flow. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flow of hedged items. The Company considers a hedge to be highly effective if the change in fair value of the derivative hedging instrument is within 80% 125% not 815 On January 1, 2016 The Company also enters into forward exchange rate contracts to manage its exposure to currency exchange risk on certain foreign currency liabilities. The Company has not (t) Earnings per Share: no three December 31, 2018. (u) Fair Value Measurements: January 1, 2008, 820 1 3 not 18 19 ASC 825 825 January 1, 2008, 825, not not no (v) Segment Reporting: not not not one (w) Equity Method Investments: not ( x Capital Leases: 840 840 10 25 1. none 840 10 25 1 Capital leases are accounted for as the acquisition of an asset and the incurrence of an obligation by the lessee. Capital leases are capitalized at the commencement of the lease at the lower between the fair value of the leased asset and the present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability. The lease payments are allocated between liability and finance costs to achieve a constant rate on the capital balance outstanding. If the lease agreement transfers the ownership of the leased asset to the lessee, then the asset is depreciated over its useful economic life (estimated at 30 For sale and lease back transactions, when the fair value of the asset sold is more than its carrying amount, any indicated loss or gain on the sale is in substance a prepayment of rent or unearned rent, respectively, and thus, in accordance with ASC 840 40 35 4, Operating lease payments are recognized as an operating expense in the consolidated statement of income on a straight-line basis over the lease term. (y) Investments in Equity and Debt Securities: 320 10 25 1 one three a. Trading securities: If the Company acquires a security with the intent of selling it in the near term, the security is classified as trading, b. Available-for-sale securities: Investments in debt securities and equity securities that have readily determinable fair values not c. Held-to-maturity securities: Investments in debt securities are classified as held-to-maturity only if the Company has the positive intent and ability to hold these securities to maturity. In order to determine the applicable category, the Company considers the following: (i) if the Company intends to sell the security, (ii) whether it is more likely than not not. Debt and equity securities, which are decided on inception to be accounted for as trading securities or available-for-sale securities, are initially recognized at cost and subsequently are measured at fair value. Declines in the fair value of trading securities are recognized in earnings, while declines in the fair value of available-for-sale securities are recorded in Other Comprehensive Income and affect earnings when the securities are disposed. Held-to-maturity debt securities are initially recognized at cost and subsequently are measured at amortized cost, less impairment. The amortized cost is adjusted for amortization of premiums and accretion of discounts to maturity. Management evaluates debt securities held-to-maturity for other than temporary impairment at each reporting date. In evaluating whether a decline in value is other than temporary, the Company considers several factors including, but not Equity securities with no not 325 20 (z) Stock Based Compensation: 3 14 505 50 (aa) Going concern: No. 2014 15. one not no (ab) Long lived Assets- Financing Arrangements: Following the implementation of ASC 606 not New Accounting Pronouncements - Adopted (ac) In January 2016, No. 2016 01—Financial 825 10 December 15, 2017 not not (ad) In August 2016, No. 2016 15—Statement 230 eight zero No. 2016 15 December 15, 2017, December 31, 2016, 2017 2018, $6,433, $2,273 $931, 2 December 31, 2016, 2017 2018, $439, $3,040 $8,000, 2 (ae) In November 2016, No. 2016 18—Statement 230 230. No. 2016 18 December 15, 2017, January 1, 2018, 230, No. 2016 18. 2 For the years ended December 31, 2016 2017 2018 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents 164,898 178,986 113,714 Restricted cash – current portion 6,882 7,238 5,600 Restricted cash – non-current portion 38,783 32,661 47,177 Total cash, cash equivalents and restricted cash $ 210,563 $ 218,885 $ 166,491 (af) On January 1, 2018 No. 2017 01, 805 not not November 12, 2018 6 8 (ag) New Accounting Pronouncements - Not In February 2016, No. 2016 02—Leases 842 not first January 1, 2017 January 1, 2019). The new standard (i) provides entities with an additional (and optional) transition method to adopt the new leases standard, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers' requests and (ii) provides lessors with a practical expedient, by class of underlying asset, to not 606. 842. For public companies, the standard will be effective for the first December 15, 2018, The Company will apply the alternative optional transition method with the adoption being reflected as of January 1, 2019, 250, not 1 2 3 842. 842 The Company will adopt the standard as of January 1, 2019 not not 2 In June 2016, No. 2016 13—Financial 326 No. 2016 13 December 15, 2019, Furthermore, in November 2018, 2018 19, 326, not 326 20. 842, 2016 13, In July 2017, No. 2017 11, 260 480 815 No. 2017 11 480, not December 15, 2018. In August 2017, No. 2017 12, 815 No. 2017 12 This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. in October 2018, 2018 16, 815 815 815. not 2017 12, 2017 12. 2017 12. In June 2018, No. 2018 07, 718 No. 2018 07 No. 2018 07 December 15, 2018, In July 2018, No. 2018 10, 842 No. 2018 10 2016 02. not 842 2016 02. In August 2018, 2018 13, 820 820, 8: 2018 13 December 15, 2019. 3 In October 2018, 2018 17, 810 810, 2018 17 December 15, 2019. |
Note 3 - Transactions With Rela
Note 3 - Transactions With Related Parties | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 3. (a) (“Costamare Shipping”) “Costamare Services”): not Costamare Shipping, itself or through Shanghai Costamare Ship Management Co., Ltd. (“Shanghai Costamare”), or through or together with third On November 2, 2015, . Costamare Services is not On November 27, 2015, may Pursuant to the Framework Agreement and the Services Agreement, Costamare Shipping and Costamare Services received (i) for each containership which is not $0.956 $0.478, three $787.4 0.75% $2,500 598,400 1 may After the initial term of the Framework Agreement and the Services Agreement, which expired on December 31, 2015, 12 one December 31, 2025, 12 two 12 On January 7, 2013, third two April 2013, third December 31, 2016, 2017 2018, $561, $380 $456, December 31, 2018, 20 Management fees charged by Costamare Shipping in the years ended December 31, 2016, 2017 2018, $19,190, $19,073 $19,989, $2,846 December 31, 2018 ( $3,093 December 31, 2017 $3,512 December 31, 2016), 0.75% $2,500, December 31, 2018 ( $2,500 December 31, 2017 2016 $3,755 598,400 December 31, 2018 ( $3,866 December 31, 2017 $4,951 December 31, 2016). third third $1,575 $1,875 $75 2017 2018 During the years ended December 31, 2016, 2017 2018, 8 9 $2,996, 5,047 $6,428, The balance due from Costamare Shipping at December 31, 2017 2018, $5,273 $4,681, December 31, 2017 2018, $203 $196, (b) Shanghai Costamare Ship Management Co., Ltd.: 70% 30% not December 31, 2018, 15 14 December 31, 2017) no December 31, 2017 2018. (c) Blue Net Chartering GmbH & Co. KG (“Blue Net”): January 1, 2018, 50% Company’s Chairman and Chief Executive Officer, to provide charter brokerage services to all vessels under its management (including vessels owned by the Company). Blue Net provides exclusive charter brokerage services to containership owners. Under the charter brokerage services agreement, each vessel-owning subsidiary paid a fee of €13,074 December 31, 2018 €1,644 January 1, 2018 December 12, 2018, €10,364 December 31, 2018 €1,139 January 1, 2018 December 31, 2018, $355, 2018 |
Note 4 - Other Non-current Asse
Note 4 - Other Non-current Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Other Noncurrent Assets [Text Block] | 4. As of July 16, 2014, 1.2% $8,229 2023 $1,452 3.0% 1 2023 $6,777 5.0% 2 2023 5% 3% 2% $676 1 $3,567 2 $7,802 $2,888 2014. The Company accounts on a quarterly basis, for the fair value unwinding of the Series 1 2 December 31, 2018, $779 $715 $659 December 31, 2017 2016, no December 31, 2016, $46 1 $1,406. 1 2 December 31, 2018, not December 31, 2018, 1 2 no The Zim equity securities are carried at cost less impairment. As of December 31, 2016, $4,000 3 2016 3 No July 16, 2014. December 31, 2018, no |
Note 5 - Inventories
Note 5 - Inventories | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventories of $9,662 $11,020 December 31, 2017 2018, |
Note 6 - Vessels and Advances,
Note 6 - Vessels and Advances, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Vessels and advances, net [Text block] | 6. The amounts in the accompanying consolidated balance sheets are as follows: Vessel Cost Accumulated Depreciation Net Book Value Balance, January 1, 2017 $ 2,688,887 $ (1,000,602 ) $ 1,688,285 Depreciation - (83,178 ) (83,178 ) Vessel acquisitions and other vessels’ costs 64,231 - 64,231 Disposals, transfers and other movements (157,350 ) 67,521 (89,829 ) Balance, December 31, 2017 $ 2,595,768 $ (1,016,259 ) $ 1,579,509 Depreciation - (82,434 ) (82,434 ) Vessel acquisitions, advances and other vessels’ costs 723,544 - 723,544 Disposals, transfers and other movements (20,001 ) 6,168 (13,833 ) Balance, December 31, 2018 $ 3,299,311 $ (1,092,525 ) $ 2,206,786 During the year ended December 31, 2018, six Michigan Trader Megalopolis Marathopolis Maersk Kleven Maersk Kotka 28,602 On November 12, 2018, 8 9 60% Triton Titan Talos Taurus Theseus 72,120 9 $1,439 12 805 In May 2018, five 12,690 five second 2020 second 2021, ten August 2018, with a financial institution five 10 During the year ended December 31, 2017, 2014 4,957 Leonidio Kyparissia 2005 7,471 Maersk Kowloon 2005 2,556 CMA CGM L’Etoile June 19, 2017, two Leonidio Kyparissia 11 . During the year ended December 31, 2017, Marina Mandraki Mykonos $23,246, Romanos MSC Romanos $6,585 $4,856 2017 December 29 2017, Itea 360 10 45 9, Itea December 31, 2017, $7,315, 2 $2,379, December 31, 2017. During the year ended December 31, 2018, Itea MSC Koroni $3,071, which is separately reflected in Loss on sale / disposal of vessels, net in the accompanying 2018 December 28 2018, MSC Pylos 360 10 45 9, MSC Pylos December 31, 2018, $4,838, 2018 2 $101, December 31, 2018, 2018 Forty- eight $1,574,546 December 31, 2018, 10. seven 11, five five 8 two |
Note 7 - Deferred Charges, Net
Note 7 - Deferred Charges, Net | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Deferred Charges [Text Block] | 7. Deferred charges, net include the unamortized dry-docking and special survey costs. The amounts in the accompanying consolidated balance sheets are as follows: Dry-docking and Special Survey Costs Balance, January 1, 2017 $ 20,367 Additions 5,582 Amortization (7,627 ) Write-off and other movements (Note 6) (2,875 ) Transfer to vessel held for sale (18 ) Balance, December 31, 2017 $ 15,429 Additions 18,568 Amortization (7,290 ) Transfer to vessel held for sale (457 ) Balance, December 31, 2018 $ 26,250 During the years ended December 31, 2016, 2017 2018, 6, 7 17 The amortization of the dry-docking and special survey costs is separately reflected in the accompanying consolidated statements of income. |
Note 8 - Costamare Ventures Inc
Note 8 - Costamare Ventures Inc. | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Costamare Ventures Inc. [Text Block] | 8. On May 15, 2013, not The Framework Deed was amended and restated by an Amendment and Restatement Deed dated May 18, 2015 June 12, 2018 (the “Restated Framework Deed”). Pursuant to the Restated Framework Deed, there is no 25% 75% May 18, 2020 May 18, 2024, On termination and on the occurrence of certain extraordinary events, Costamare Ventures may As at December 31, 2018, 25% 49% thirteen 9 |
Note 9 - Equity Method Investme
Note 9 - Equity Method Investments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 9. The companies accounted for as equity method investments, all of which are incorporated in the Marshall Islands, are as follows: Entity Vessel Participation % December 31, 2018 Date Established /Acquired Steadman Maritime Co. Ensenada 49% July 1, 2013 Marchant Maritime Co. - 49% July 8, 2013 Horton Maritime Co. - 49% June 26, 2013 Smales Maritime Co. Elafonisos 49% June 6, 2013 Geyer Maritime Co. Arkadia 49% May 18, 2015 Goodway Maritime Co. Monemvasia 49% September 22, 2015 Kemp Maritime Co. Cape Akritas 49% June 6, 2013 Hyde Maritime Co. Cape Tainaro 49% June 6, 2013 Skerrett Maritime Co. Cape Artemisio 49% December 23, 2013 Ainsley Maritime Co. Cape Kortia 25% June 25, 2013 Ambrose Maritime Co. Cape Sounio 25% June 25, 2013 Platt Maritime Co. Polar Argentina 49% May 18, 2015 Sykes Maritime Co. Polar Brasil 49% May 18, 2015 During the year ended December 31, 2017, $1,428 December 31, 2018, $1,524 $1,107 December 31, 2018, Petalidi Padma During the year ended December 31, 2017, $3,449, December 31, 2018, $735 During the year ended December 31, 2017, $498, $1,250 December 31, 2018, $1,000 During the year ended December 31, 2017, $2,980, December 31, 2018, $8,000 In April 2017, $44,000, Cape Artemisio May 2017. 13 December 31, 2017, $798, $1,964 December 31, 2018, $735 During the year ended December 31, 2017, $1,753, December 31, 2018, $4,875 Polar Argentina Polar Brasil On November 12, 2018, five 7.6 may six February 8, 2019, 3/A December 19, 2018, 21 December 31, 2018, not At the date of the acquisition, the aggregate net value of assets and liabilities transferred to the Company (excluding cash and cash equivalents, the value of the fixed assets and the financing arrangements) was an excess amount of $5,171. 805 40% 6 12 For the years ended December 31, 2016, 2017 2018, $78 $3,381 $12,051, The summarized combined financial information of the companies accounted for as equity method investment is as follows: December 31, 2017 December 31, 2018 Non-current assets $ 1,069,449 $ 552,110 Current assets 62,170 40,230 Total assets $ 1,131,619 $ 592,340 Current liabilities $ 55,455 $ 23,339 For the years ended December 31, 2017 2018 Voyage revenue 123,228 148,614 Net income $ 9,495 $ 29,628 |
Note 10 - Long-term Debt
Note 10 - Long-term Debt | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 10. The amounts shown in the accompanying consolidated balance sheets consist of the following: Borrower(s) December 31, 2017 December 31, 2018 A. Credit Facility $ 299,837 $ - B. Term Loans: 1. Mas Shipping Co. 13,125 9,125 2. Montes Shipping Co. and Kelsen Shipping Co. 42,000 32,000 3. Costamare Inc. 25,725 - 4. Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. 162,983 147,702 5. Raymond Shipping Co. and Terance Shipping Co. 105,050 94,135 6. Costamare Inc. 37,697 - 7. Uriza Shipping S.A. 32,500 28,167 8. Costis Maritime Corporation, Christos Maritime Corporation and Capetanissa Maritime Corporation 93,000 77,875 9. Rena Maritime Corporation, Finch Shipping Co. and Joyner Carriers S.A. 24,480 21,280 10. Nerida Shipping Co. 17,175 15,375 11. Costamare Inc. - 198,986 12. Singleton Shipping Co. and Tatum Shipping Co. - 47,200 13. Reddick Shipping Co. and Verandi Shipping Co. - 25,000 14. Costamare. Inc. - 55,000 Total Term Loans $ 553,735 $ 751,845 C. Other financing arrangements - 564,709 Total long-term debt $ 853,572 $ 1,316,554 Less: Deferred financing costs (2,592 ) (8,148 ) Total long-term debt, net 850,980 1,308,406 Less: Long-term debt current portion (207,516 ) (151,546 ) Add: Deferred financing costs, current portion 1,198 2,384 Total long-term debt, non-current, net $ 644,662 $ 1,159,244 A. Credit Facility: In July 2008, $1,000,000 3, 6, 9 12 On September 28, 2016, ninth June 30, 2021 four Mandraki Mykonos $9,388 $9,326 August 16, 2017 September 14, 2017, The Facility and certain of the term loans described under Note 10.B not 0.75 1.00, $30,000 3% not 2.50 1.00 $500,000. 10.B not 80% During the year ended December 31, 2018, $299,837 2008 10.B.11 B. Term Loans: 1. January 2008, $75,000 Maersk Kokura August 3, 2017, $1,000 February 16, 2018, $1,000 February 2018 February 2019. As of December 31, 2018, $9,125 $1,000 February 2019 $8,125 . 2. December 2007, $150,000 $75,000 Maersk Kawasaki Maersk Kure January 27, 2016, $66,000 June 19, 2017, $6,000 December 31, 2018, $32,000 4 $5,000 June 2019 December 2020 $12,000 3. November 2010, $120,000, 18 May 25, 2012, $38,500 $42,000 $21,000 $7,470 $7,470 MSC Romanos MSC Methoni MSC Ulsan MSC Koroni MSC Itea . During the year ended December 31, 2018, $19,425 10.B.14 4. August 2011, $229,200 three December 31, 2018, $96,770 Valor Valiant 6 $1,273.4 January 2019 June 2020 $40,744.8 December 31, 2018, $50,932 Vantage 8 $1,273.4 $40,744.8 February 2019 November 2020. 5. October 2011, $152,800 December 31, 2018, $46,385 Value 6 $1,364.3 March 2019 June 2020 $38,199.6 December 31, 2018, $47,750 Valence 7 $1,364.3 February 2019 August 2020 $38,199.6 6. October 2011, $120,000, eleven July 2016 $3,835 Karmen February 2017 $4,918 Marina October 2018 $4,586 MSC Koroni December 31, 2018, $24,966 10.B.14 7. May 6, 2016, $39,000 May 11, 2016 $39,000. December 31, 2018 , the outstanding balance of $28,167 10 $1,083.3, February 2019 May 2021 $17,333.3 8. May 2008, $150,000 $75,000 Sealand New York Sealand Washington June 2006, $90,000, Cosco Beijing August 10, 2016, entered into a loan agreement with a bank in order to extend the repayment and amend the repayment profile of the then outstanding loans in the amounts of $116,500 July 21, 2017, $4,000 June 26, 2018, $4,000. December 31, 2018, $77,875 11 $3,125, February 2019 August 2021 $43,500 9. February 2006, $90,000 Cosco Guangzhou December 22, 2016, entered into a new loan agreement with a bank in order to fully refinance the then outstanding loan of $37,500 . As of December 31, 2018, $21,280 12 $800, March 2019 December 2021 $11,680 10. August 1, 2017, $17,625 Maersk Kowloon 6 August 3, 2017 $17,625. December 31, 2018, $15,375 15 $450, February 2019 July 2022 $8,625 11. March 7, 2018, $233,000 10.A two March 23, 2018. May 29, 2018 $4,477 Itea December 31, 2018, $198,986 10 March 2019 June 2021 $86,353 12. July 17, 2018, $48,000, Megalopolis Marathopolis 6 two July 20, 2018 August 2, 2018. December 31, 2018, $23,600 27 $400, January 2019 June 2025 $12,800 December 31, 2018, $23,600 27 $400, February 2019 July 2025 $12,800 13. October 26, 2018, $25,000, Maersk Kleven Maersk Kotka 6 two October 30, 2018. December 31, 2018, $12,500 10 $610 January 2019 April 2021 $6,400 14. November 27, 2018, $55,000 10.B.6 10.B.3. two $28,000 November 30, 2018 $27,000 December 11, 2018. December 31, 2018, $28,000 20 February 2019 November 2023. December 31, 2018, 27,000 November 2023. The term loans discussed above bear interest at LIBOR plus a spread and are secured by, inter alia, (a) first first may 100% 130% C. Other Financing Arrangements 1. August 2018, five five five 6 606, not 2 $29,954 $0.4 December 31, 2018. December 31, 2018 $483, 2018 121 2. November 12, 2018, 6 9 five 18 606 840 The amount payable to York has been accounted for under ASC 480 835 30 December 31, 2018, five $534,755 January 2019 October 2028 five $32,022, November 12, 2018 December 31, 2018, $4,429, 2018 The annual repayments under the Term Loans and Other Financing Arrangements after December 31, 2018, Year ending December 31, Amount 2019 $ 151,546 2020 397,513 2021 252,923 2022 49,850 2023 65,185 2024 and thereafter 399,537 Total $ 1,316,554 The interest rate of Costamare’s long-term debt as at December 31, 2016, 2017 2018, 1.98% 6.04%, 2.30% 5.98% 3.66% 6.42%, December 31, 2016, 2017 2018, 4.7%, 4.9% 5.3%, Total interest expense incurred on long-term debt including the effect of the hedging interest rate swaps (discussed in Notes 16 18 December 31, 2016, 2017 2018, $50,914, $45,222 $40,412, $50,914, $45,222 $40,412 December 31, 2016, 2017 2018, 2018 $808 $797 $11 December 31, 2018. D. Financing Costs The amounts of financing costs included in the loan balances and capital lease obligations (Note 11 Financing costs Balance, January 1, 2017 $ 7,300 Additions 1,733 Amortization and write-off (2,236 ) Balance, December 31, 2017 $ 6,797 Additions 7,584 Amortization and write-off (2,907 ) Balance, December 31, 2018 $ 11,474 Less: Current portion of financing costs (3,200 ) Financing costs, non-current portion $ 8,274 Financing costs represent legal fees and fees paid to the lenders for the conclusion of the Company’s financing. The amortization and write-off of loan financing costs is included in interest and finance costs in the accompanying consolidated statements of income (Note 16 |
Note 11 - Capital Leased Assets
Note 11 - Capital Leased Assets and Capital Lease Obligations | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt and Capital Leases Disclosures [Text Block] | 11. Between January April 2014, MSC Azov MSC Ajaccio MSC Amalfi ten $85,572 On July 6, 2016 July 15, 2016, MSC Athos MSC Athens seven On June 19, 2017, two seven Leonidio Kyparissia 6 The sale and leaseback transactions were classified as capital leases. As the fair value of each vessel sold was in excess of its carrying amount, the difference between the sale proceeds and the carrying amount was classified as prepaid lease rentals or as unearned revenue. The total value of the vessels, at the inception of the capital lease transactions, was $452,564, December 31, 2016, 2017 2018, $9,942, $13,207 $13,764, December 31, 2017 2018, $36,899 $50,663, December 31, 2017 2018, $415,665 $401,901, The balance of prepaid lease rentals, as of December 31, 2017 2018, December 31, 2017 December 31, 2018 Prepaid lease rentals $ 60,422 $ 51,670 Less: Amortization of prepaid lease rentals (8,752 ) (8,751 ) Prepaid lease rentals $ 51,670 $ 42,919 Less: current portion (8,752 ) (8,752 ) Non-current portion $ 42,918 $ 34,167 The capital lease obligations amounting to $342,658 December 31, 2018 2024 16 18 December 31, 2016, 2017 2018, $19,203, $22,096 $21,402, MSC Athos MSC Athens not The annual lease payments under the capital leases after December 31, 2018, Year ending December 31, Amount 2019 49,798 2020 49,895 2021 49,798 2022 49,798 2023 95,086 2024 and thereafter 108,455 Total 402,830 Less: Amount of interest ( MSC Azov MSC Ajaccio MSC Amalfi Leonidio Kyparissia (60,172 ) Total lease payments 342,658 Less: Financing costs, net (3,326 ) Total lease payments, net 339,332 The total capital lease obligations, net of related financing costs, are presented in the accompanying December 31, 2017 2018, December 31, 2017 December 31, 2018 Capital lease obligation – current $ 33,753 $ 35,115 Less: current portion of financing costs (879 ) (816 ) Capital lease obligation – non-current 342,658 307,543 Less: non-current portion of financing costs (3,326 ) (2,510 ) Total $ 372,206 $ 339,332 |
Note 12 - Accrued Charter Reven
Note 12 - Accrued Charter Revenue, Current and Non-current, Unearned Revenue, Current and Non-current and Time Charter Assumed | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Accrued Charter Revenue, Current and Non-Current and Unearned Revenue, Current and Non-Current [Text Block] | 12. (a) Accrued Charter Revenue, Current and Non-Current: The amounts presented as current and non-current accrued charter revenue in the accompanying consolidated balance sheets as of December 31, 2017 2018, not As at December 31, 2017, $16,435 $185 $16,620 2017 December 31, 2018, $9,141 2018 December 31 Year ending December 31, Amount 2019 $ (7,356 ) 2020 (1,193 ) 2021 - 2022 - 2023 (366 ) 2024 (226 ) Total $ (9,141 ) (b) Unearned Revenue, Current and Non-Current: The amounts presented as current and non-current unearned revenue in the accompanying consolidated balance sheets as of December 31, 2017 2018, not $323 $601 December 31, 2017 December 31, 2018 Hires collected in advance $ 5,589 $ 4,475 Deferred gain, net 4,158 3,557 Charter revenue resulting from varying charter rates 16,620 9,141 Total $ 26,367 $ 17,173 Less current portion (15,310 ) (12,432 ) Non-current portion $ 11,057 $ 4,741 (c) Time Charter Assumed, Current and Non-Current: November 12, 2018, 60% Triton Titan Talos Taurus Theseus 6 December 31, 2018, $1,412, 2018 7.4 December 31, 2018, $27 2018 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. lol (a) Time charters: As at December 31, 2018, five one December 31, 2018, 148 December 31, 2018, 365 Year ending December 31, Amount 2019 $ 371,424 2020 289,423 2021 228,814 2022 163,385 2023 156,457 2024 and thereafter 636,272 Total $ 1,845,775 (b) Capital Commitments: December 31, 2018 $31,389 five 6, approximately $0.4 10.C $15,453 five five 2019. (c) Debt guarantees with respect to entities formed under the Framework Deed: 100% Cape Kortia Cape Sounio Cape Akritas Cape Tainaro Cape Artemisio, December 31, 2018, $77,001 9 $77,175 9 $39,650 9 not (d) Other: may not not not The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not The Company is covered for liabilities associated with the vessels’ operations up to the customary limits provided by the Protection and Indemnity (“P&I”) Clubs, members of the International Group of P&I Clubs. |
Note 14 - Common Stock and Addi
Note 14 - Common Stock and Additional Paid-in Capital | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 14. (a) Common Stock: December 5, 2016, 12,000,000 $0.0001 $6.00 $69,037. During the year ended December 31, 2016, 598,400 $0.0001 3 December 31, 2017, 598,400 $0.0001 3 December 31, 2018, 598,400 $0.0001 3 no December 31, 2018. On July 6, 2016, not December 31, 2016, 2,428,081 $0.0001 $8.043837 December 31, 2017, 3,682,704 $0.0001 $6.194 December 31, 2018, 3,659,845 $0.0001 $6.307794 On May 31, 2017, 13,500,000 $0.0001 $7.10 105,840,848 $91,675. As at December 31, 2018, 112,464,230 (b) Preferred Stock: On January 30, 2018, 4,600,000 $0.0001, $25.00 $111,224. (c) Additional Paid-in Capital: November 2010 March 2012, October 2012, August 2013, January 2014, May 2015, December 2016 May 2017 3 (d) Dividends declared and / or paid December 31, 2017, $0.10 $3,619 1,014,550 fourth 2016, $3,610 751,817 first 2017, $4,823 894,989 second 2017 $4,641 1,021,348 third 2017. During the year ended December 31, 2018, $0.10 $4,583 988,841 fourth 2017 $4,833 885,324 first 2018, $4,854 901,634 second 2018 $6,581 884,046 third 2018 . During the year ended December 31, 2017, $953 $0.476563 October 15, 2016 January 14, 2017, $953 $0.476563 January 15, 2017 April 14, 2017, $953 $0.476563 April 15, 2017 July 14, 2017 $953 $0.476563 July 15, 2017 October 14, 2017 . During the year ended December 31, 2018, $953 $0.476563 October 15, 2017 January 14, 2018, $953 $0.476563 January 15, 2018 April 14, 2018 $953 $0.476563 April 15, 2018 July 14, 2018 $953 $0.476563 July 15, 2018 October 14, 2018 . During the year ended December 31, 2017, $2,125 $0.531250 October 15, 2016 January 14, 2017, $2,125 $0.531250 January 15, 2017 April 14, 2017, $2,125 $0.531250 April 15, 2017 July 14, 2017 $2,125 $0.531250 July 15, 2017 October 14, 2017 . During the year ended December 31, 2018, $2,125 $0.531250 October 15, 2017 January 14, 2018, $2,125 $0.531250 January 15, 2018 April 14, 2018, $2,125 $0.531250 April 15, 2018 July 14, 2018 $2,125 $0.531250 July 15, 2018 October 14, 2018. During the year ended December 31, 2017, $2,188 $0.546875 October 15, 2016 January 14, 2017, $2,188 $0.546875 January 15, 2017 April 14, 2017, 2,188 $0.546875 April 15, 2017 July 14, 2017 2,188 $0.546875 July 15, 2017 October 14, 2017 . During the year ended December 31, 2018, $2,188 $0.546875 October 15, 2017 January 14, 2018, $2,188 $0.546875 January 15, 2018 April 14, 2018, $2,188 $0.546875 April 15, 2018 July 14, 2018 $2,188 $0.546875 July 15, 2018 October 14, 2018. During the year ended December 31, 2018, $2,126 $0.462240 per share for the period from January 30, 2018 April 14, 2018, $2,551 $0.554688 April 15, 2018 July 14, 2018 $2,551 $0.554688 July 15, 2018 October 14, 2018. |
Note 15 - Earnings Per Share (E
Note 15 - Earnings Per Share (EPS) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 15. All common shares issued are Costamare common stock and have equal rights to vote and participate in dividends. Profit or loss attributable to common equity holders is adjusted by the contractual amount of dividends on Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock that should be paid for the period. Dividends paid or accrued on Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock during the years ended December 31, 2016, 2017 2018, $21,063, $21,063 $30,503, December 31, 2016 2017 2018 Basic EPS Basic EPS Basic EPS Net income $ 81,702 $ 72,876 $ 67,239 Less: paid and accrued earnings allocated to Preferred Stock (21,063 ) (21,063 ) (30,503 ) Net income available to common stockholders 60,639 51,813 36,736 Weighted average number of common shares, basic and diluted 77,243,252 100,527,907 110,395,134 Earnings per common share, basic and diluted $ 0.79 $ 0.52 $ 0.33 |
Note 16 - Interest and Finance
Note 16 - Interest and Finance Costs | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Interest Finance Costs [Text Block] | 16. The interest and finance costs in the accompanying consolidated statements of income are as follows: Years ended December 31, 2016 2017 2018 Interest expense $ 49,880 $ 55,925 $ 61,415 Interest capitalized - - (808 ) Swap effect 20,237 11,393 74 Amortization and write-off of financing costs 2,613 2,236 2,907 Commitment fees 75 30 132 Bank charges and other financing costs 3 256 272 Total $ 72,808 $ 69,840 $ 63,992 |
Note 17 - Taxes
Note 17 - Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 17. Under the laws of the countries of incorporation for the vessel-owning companies and/or of the countries of registration of the vessels, the companies are not The vessel-owning companies with vessels that have called on the United States during the relevant year of operation are obliged to file tax returns with the Internal Revenue Service. The applicable tax is 50% 4% 883 1986, |
Note 18 - Derivatives
Note 18 - Derivatives | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 18. (a) Interest rate swaps that meet the criteria for hedge accounting: The Company, according to its long-term strategic plan to maintain stability in its interest rate exposure, has decided to minimize its exposure to floating interest rates by entering into interest rate swap agreements. To this effect, the Company has entered into interest rate swap transactions with varying start and maturity dates, in order to manage its floating rate exposure. These interest rate swaps are designed to hedge the variability of interest cash flows arising from floating rate debt, attributable to movements in three six 815 At December 31, 2017 2018, $656,096 $310,785, December 31, 2017 2018 $2,031 $7,107, April 2020 May 2023. During the year ended December 31, 2018, three $1,234 2018 The estimated net amount that is expected to be reclassified within the next 12 $3,402. (b) Interest rate swaps that do not December 31, 2017 2018, $89,752 $49,659, not December 31, 2017 2018 $980 $134, August 2020. (c) Foreign currency agreements: December 31, 2018, five $10,000 1.1514 May 2019. As of December 31, 2017, two $4,000 1.1682 February 2018. The total change of forward contracts fair value for the year ended December 31, 2018, $112 $197 December 31, 2017 $437 December 31, 2016) The Effect of Derivative Instruments for the years ended December 31, 2016, 2017 and 2018 Derivatives in ASC 815 Cash Flow Hedging Relationships Amount of Gain / (Loss) Recognized in Accumulated OCI on Derivative (Effective Portion) Location of Gain / (Loss) Amount of Gain / (Loss) Recognized in Income on Derivative (Ineffective Portion) 2016 2017 2018 2016 2017 2018 Interest rate swaps 8,828 1,999 5,382 Loss on derivative instruments, net - - - Reclassification to Interest and finance costs 20,237 11,393 74 - - - Total 29,065 13,392 5,456 - - - Derivatives Not Designated as Hedging Instruments and ineffectiveness of Hedging Instruments under ASC 815 Location of Gain / (Loss) Recognized in Income on Derivative Amount of Gain / (Loss) Recognized in Income on Derivative 2016 2017 2018 Non hedging interest rate swaps Loss on derivative instruments, net (3,554 ) (1,113 ) (436 ) Ineffective portion of hedging interest rate swaps Loss on derivative instruments, net - - - Forward contracts Loss on derivative instruments, net (437 ) 197 (112 ) Total (3,991 ) (916 ) (548 ) The realized loss on non-hedging interest rate swaps included in “ ” amounted to $8,500, $2,212 $386 December 31, 2016, 2017 2018, |
Note 19 - Financial Instruments
Note 19 - Financial Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | 19. (a) Interest rate risk: 10. (b) Concentration of credit risk: not (c) Fair value: 10.C, 18 2 no The fair value of the interest rate swap agreements discussed in Note 18 December 31, 2017 2018, $1,051 $7,241, The fair value of the forward contracts discussed in Note 18 2 December 31, 2017 2018, $112 nil, The following tables summarize the hierarchy for determining and disclosing the fair value of assets and liabilities by valuation technique on a recurring basis as of the valuation date. December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring measurements: Forward contracts-asset position $ 112 $ - $ 112 $ - Interest rate swaps-asset position 5,754 - 5,754 - Interest rate swaps-liability position (4,703 ) - (4,703 ) - Total $ 1,163 $ - $ 1,163 $ - December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring measurements: Interest rate swaps-asset position $ 7,241 $ - $ 7,241 $ - Total $ 7,241 $ - $ 7,241 $ - |
Note 20 - Comprehensive Income
Note 20 - Comprehensive Income | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 20. During the year ended December 31, 2016, $30,225 $8,828 $20,237 $84 $1,076 During the year ended December 31, 2017, $13,455 $1,999 $11,393 $63 During the year ended December 31, 2018, $5,508 $5,382 $74 $11 $63 As at December 31, 2016, 2017 2018, $111,927, $86,331 $72,747, 12 3,402 |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 21. (a) Declaration and Payment of Dividends (common stock): January 3, 2019, December 31, 2018, $0.10 February 7, 2019, January 22, 2019. (b) Declaration and Payment of Dividends (preferred stock Series B, Series C, Series D and Series E): January 3, 2019, $0.476563 $0.531250 $0.546875 $0.554688 January 15, 2019 January 14, 2019. (c) Interest rate swap agreements: February 1, 2019, two two February 4, 2019, $23,200 2.5540% 3 February 2019 February 2022. April 23, 2019, $22,800 2.5270% 3 April 2019 April 2022. (d) Registration statement effectiveness February 8, 2019, he registration statement on Form F- 3/A December 19, 2018 ( 9 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | (a) Principles of Consolidation: Costamare, as the holding company, determines whether it has a controlling financial interest in an entity by first 810 50% 810 10, not not may may December 31, 2017 2018 no Certain prior period amounts in the consolidated Statements of Cash Flows have been reclassified to conform to the current year presentation after that application of the ASU No. 2016 15—Statement 230 ASU No. 2016 18—Statement 230 2 to Cash flows from operating activities (Note 2 2 |
Use of Estimates, Policy [Policy Text Block] | (b) Use of Estimates: |
Comprehensive Income, Policy [Policy Text Block] | (c) Comprehensive Income / (Loss): 220 two |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | (d) Foreign Currency Translation: |
Cash and Cash Equivalents, Policy [Policy Text Block] | (e) Cash and Cash Equivalents: three may may |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | (f) Restricted Cash: Restricted cash also includes bank deposits and deposits in so-called “retention accounts” that are required under the Company’s borrowing arrangements which are used to fund the loan installments coming due. The funds can only be used for the purposes of loan repayment. |
Receivables, Policy [Policy Text Block] | (g) Accounts Receivable, net: December 31, 2017 2018, $0. |
Inventory, Policy [Policy Text Block] | (h) Inventories: first first |
Insurance Claim Receivables [Policy Text Block] | (i) Insurance Claims Receivable: not |
Property, Plant and Equipment, Policy [Policy Text Block] | (j) Vessels, Net: The cost of each of the Company’s vessels is depreciated from the date of acquisition on a straight-line basis over the vessel’s remaining estimated economic useful life, after considering the estimated residual value which is equal to the product of vessels’ lightweight tonnage and estimated scrap rate. Management estimates the useful life of the Company’s vessels to be 30 $0.300 If the estimated economic lives assigned to the Company’s vessels prove to be too long because of unforeseen events such as an extended period of weak markets, the broad imposition of age restrictions by the Company’s customers’, new regulations, or other future events, the remaining estimated useful life of any affected vessel is adjusted accordingly. |
Time Charters Assumed with the Acquisition of Second-hand Vessels, Policy [Policy Text Block] | (k) Time Charters Assumed with the Acquisition of Second-hand Vessels: The Company records identified assets or liabilities associated with the acquisition of a vessel at fair value, determined by reference to market data. The Company values any asset or liability arising from the market value of any time charters assumed when a vessel is acquired from entities that are not not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | (l) Impairment of Long-lived Assets: not I may 1 The future undiscounted net operating cash flows are determined as the sum of ( x ten 99.2% 12 24 2.76%, ten third ten $0.300 no 2 In Step 2 1 third Therefore, the Company has categorized the fair value of the vessels as Level 2 1 2 The review of the carrying amounts in connection with the estimated recoverable amount of the Company’s vessels as of December 31, 2018 no December 31, 2016 2017, nil $17,959, |
Assets Held for Sale [Policy Text Block] | (m) Long-lived Assets Classified as Held for Sale: 360, one 360 10 35, not not |
Accounting for Special Survey and Dry-docking Costs [Policy Text Block] | (n) Accounting for Special Survey and Dry-docking Costs: not |
Debt, Policy [Policy Text Block] | (o) Financing Costs: third |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | (p) Concentration of Credit Risk: not |
Voyage Revenue [Policy Text Block] | (q) Voyage Revenues: 15 Revenues from time charter agreements providing for varying annual rates are accounted for as operating leases and thus recognized on a straight-line basis over the non-cancellable rental periods of such agreements, as service is performed. Unearned revenue includes cash received prior to the balance sheet date for which all criteria to recognize as revenue have not On January 1, 2018, No. 2014 09, 606" five five 1 two 2 3 4 5 606 not January 1, 2018, 840. not no no Revenues for 2016, 2017 2018, 10% 2016 2017 2018 A 30 % 28 % 27 % B 28 % 29 % 27 % C 14 % 16 % 10 % D 19 % 21 % 24 % Total 91 % 94 % 88 % |
Voyage Expenses [Policy Text Block] | (r) Vessels’ Voyage and Operating Expenses: not third Vessel operating expenses are expensed as incurred and primarily consist of crew costs, repairs and maintenance expenses, including underwater inspection expenses, and insurance costs. |
Derivatives, Policy [Policy Text Block] | (s) Derivative Financial Instruments: may zero The Company formally documents all relationships between hedging instruments and hedged items, as well as the risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that are designated as cash flow hedges to specific forecasted transactions or variability of cash flow. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flow of hedged items. The Company considers a hedge to be highly effective if the change in fair value of the derivative hedging instrument is within 80% 125% not 815 On January 1, 2016 The Company also enters into forward exchange rate contracts to manage its exposure to currency exchange risk on certain foreign currency liabilities. The Company has not |
Earnings Per Share, Policy [Policy Text Block] | (t) Earnings per Share: no three December 31, 2018. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | (u) Fair Value Measurements: January 1, 2008, 820 1 3 not 18 19 ASC 825 825 January 1, 2008, 825, not not no |
Segment Reporting, Policy [Policy Text Block] | (v) Segment Reporting: not not not one |
Equity Method Investments [Policy Text Block] | (w) Equity Method Investments: not |
Lessee, Leases [Policy Text Block] | ( x Capital Leases: 840 840 10 25 1. none 840 10 25 1 Capital leases are accounted for as the acquisition of an asset and the incurrence of an obligation by the lessee. Capital leases are capitalized at the commencement of the lease at the lower between the fair value of the leased asset and the present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability. The lease payments are allocated between liability and finance costs to achieve a constant rate on the capital balance outstanding. If the lease agreement transfers the ownership of the leased asset to the lessee, then the asset is depreciated over its useful economic life (estimated at 30 For sale and lease back transactions, when the fair value of the asset sold is more than its carrying amount, any indicated loss or gain on the sale is in substance a prepayment of rent or unearned rent, respectively, and thus, in accordance with ASC 840 40 35 4, Operating lease payments are recognized as an operating expense in the consolidated statement of income on a straight-line basis over the lease term. |
Marketable Securities, Policy [Policy Text Block] | (y) Investments in Equity and Debt Securities: 320 10 25 1 one three a. Trading securities: If the Company acquires a security with the intent of selling it in the near term, the security is classified as trading, b. Available-for-sale securities: Investments in debt securities and equity securities that have readily determinable fair values not c. Held-to-maturity securities: Investments in debt securities are classified as held-to-maturity only if the Company has the positive intent and ability to hold these securities to maturity. In order to determine the applicable category, the Company considers the following: (i) if the Company intends to sell the security, (ii) whether it is more likely than not not. Debt and equity securities, which are decided on inception to be accounted for as trading securities or available-for-sale securities, are initially recognized at cost and subsequently are measured at fair value. Declines in the fair value of trading securities are recognized in earnings, while declines in the fair value of available-for-sale securities are recorded in Other Comprehensive Income and affect earnings when the securities are disposed. Held-to-maturity debt securities are initially recognized at cost and subsequently are measured at amortized cost, less impairment. The amortized cost is adjusted for amortization of premiums and accretion of discounts to maturity. Management evaluates debt securities held-to-maturity for other than temporary impairment at each reporting date. In evaluating whether a decline in value is other than temporary, the Company considers several factors including, but not Equity securities with no not 325 20 |
Compensation Related Costs, Policy [Policy Text Block] | (z) Stock Based Compensation: 3 14 505 50 |
Going Concern, Policy [Policy Text Block] | (aa) Going concern: No. 2014 15. one not no |
Long Lived Assets, Finance Leases, Policy [Policy Text Block] | (ab) Long lived Assets- Financing Arrangements: Following the implementation of ASC 606 not |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements - Adopted (ac) In January 2016, No. 2016 01—Financial 825 10 December 15, 2017 not not (ad) In August 2016, No. 2016 15—Statement 230 eight zero No. 2016 15 December 15, 2017, December 31, 2016, 2017 2018, $6,433, $2,273 $931, 2 December 31, 2016, 2017 2018, $439, $3,040 $8,000, 2 (ae) In November 2016, No. 2016 18—Statement 230 230. No. 2016 18 December 15, 2017, January 1, 2018, 230, No. 2016 18. 2 For the years ended December 31, 2016 2017 2018 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents 164,898 178,986 113,714 Restricted cash – current portion 6,882 7,238 5,600 Restricted cash – non-current portion 38,783 32,661 47,177 Total cash, cash equivalents and restricted cash $ 210,563 $ 218,885 $ 166,491 (af) On January 1, 2018 No. 2017 01, 805 not not November 12, 2018 6 8 (ag) New Accounting Pronouncements - Not In February 2016, No. 2016 02—Leases 842 not first January 1, 2017 January 1, 2019). The new standard (i) provides entities with an additional (and optional) transition method to adopt the new leases standard, under which an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption consistent with preparers' requests and (ii) provides lessors with a practical expedient, by class of underlying asset, to not 606. 842. For public companies, the standard will be effective for the first December 15, 2018, The Company will apply the alternative optional transition method with the adoption being reflected as of January 1, 2019, 250, not 1 2 3 842. 842 The Company will adopt the standard as of January 1, 2019 not not 2 In June 2016, No. 2016 13—Financial 326 No. 2016 13 December 15, 2019, Furthermore, in November 2018, 2018 19, 326, not 326 20. 842, 2016 13, In July 2017, No. 2017 11, 260 480 815 No. 2017 11 480, not December 15, 2018. In August 2017, No. 2017 12, 815 No. 2017 12 This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. in October 2018, 2018 16, 815 815 815. not 2017 12, 2017 12. 2017 12. In June 2018, No. 2018 07, 718 No. 2018 07 No. 2018 07 December 15, 2018, In July 2018, No. 2018 10, 842 No. 2018 10 2016 02. not 842 2016 02. In August 2018, 2018 13, 820 820, 8: 2018 13 December 15, 2019. 3 In October 2018, 2018 17, 810 810, 2018 17 December 15, 2019. |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | 2016 2017 2018 A 30 % 28 % 27 % B 28 % 29 % 27 % C 14 % 16 % 10 % D 19 % 21 % 24 % Total 91 % 94 % 88 % |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | For the years ended December 31, 2016 2017 2018 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents 164,898 178,986 113,714 Restricted cash – current portion 6,882 7,238 5,600 Restricted cash – non-current portion 38,783 32,661 47,177 Total cash, cash equivalents and restricted cash $ 210,563 $ 218,885 $ 166,491 |
Note 6 - Vessels and Advances_2
Note 6 - Vessels and Advances, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule Vessels and Advances, Net [Table Text Block] | Vessel Cost Accumulated Depreciation Net Book Value Balance, January 1, 2017 $ 2,688,887 $ (1,000,602 ) $ 1,688,285 Depreciation - (83,178 ) (83,178 ) Vessel acquisitions and other vessels’ costs 64,231 - 64,231 Disposals, transfers and other movements (157,350 ) 67,521 (89,829 ) Balance, December 31, 2017 $ 2,595,768 $ (1,016,259 ) $ 1,579,509 Depreciation - (82,434 ) (82,434 ) Vessel acquisitions, advances and other vessels’ costs 723,544 - 723,544 Disposals, transfers and other movements (20,001 ) 6,168 (13,833 ) Balance, December 31, 2018 $ 3,299,311 $ (1,092,525 ) $ 2,206,786 |
Note 7 - Deferred Charges, Net
Note 7 - Deferred Charges, Net (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Deferred Charges [Table Text Block] | Dry-docking and Special Survey Costs Balance, January 1, 2017 $ 20,367 Additions 5,582 Amortization (7,627 ) Write-off and other movements (Note 6) (2,875 ) Transfer to vessel held for sale (18 ) Balance, December 31, 2017 $ 15,429 Additions 18,568 Amortization (7,290 ) Transfer to vessel held for sale (457 ) Balance, December 31, 2018 $ 26,250 |
Note 9 - Equity Method Invest_2
Note 9 - Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Entity Vessel Participation % December 31, 2018 Date Established /Acquired Steadman Maritime Co. Ensenada 49% July 1, 2013 Marchant Maritime Co. - 49% July 8, 2013 Horton Maritime Co. - 49% June 26, 2013 Smales Maritime Co. Elafonisos 49% June 6, 2013 Geyer Maritime Co. Arkadia 49% May 18, 2015 Goodway Maritime Co. Monemvasia 49% September 22, 2015 Kemp Maritime Co. Cape Akritas 49% June 6, 2013 Hyde Maritime Co. Cape Tainaro 49% June 6, 2013 Skerrett Maritime Co. Cape Artemisio 49% December 23, 2013 Ainsley Maritime Co. Cape Kortia 25% June 25, 2013 Ambrose Maritime Co. Cape Sounio 25% June 25, 2013 Platt Maritime Co. Polar Argentina 49% May 18, 2015 Sykes Maritime Co. Polar Brasil 49% May 18, 2015 |
Equity Method Investments Summarized Financial Information [Table Text Block] | December 31, 2017 December 31, 2018 Non-current assets $ 1,069,449 $ 552,110 Current assets 62,170 40,230 Total assets $ 1,131,619 $ 592,340 Current liabilities $ 55,455 $ 23,339 For the years ended December 31, 2017 2018 Voyage revenue 123,228 148,614 Net income $ 9,495 $ 29,628 |
Note 10 - Long-term Debt (Table
Note 10 - Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Borrower(s) December 31, 2017 December 31, 2018 A. Credit Facility $ 299,837 $ - B. Term Loans: 1. Mas Shipping Co. 13,125 9,125 2. Montes Shipping Co. and Kelsen Shipping Co. 42,000 32,000 3. Costamare Inc. 25,725 - 4. Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. 162,983 147,702 5. Raymond Shipping Co. and Terance Shipping Co. 105,050 94,135 6. Costamare Inc. 37,697 - 7. Uriza Shipping S.A. 32,500 28,167 8. Costis Maritime Corporation, Christos Maritime Corporation and Capetanissa Maritime Corporation 93,000 77,875 9. Rena Maritime Corporation, Finch Shipping Co. and Joyner Carriers S.A. 24,480 21,280 10. Nerida Shipping Co. 17,175 15,375 11. Costamare Inc. - 198,986 12. Singleton Shipping Co. and Tatum Shipping Co. - 47,200 13. Reddick Shipping Co. and Verandi Shipping Co. - 25,000 14. Costamare. Inc. - 55,000 Total Term Loans $ 553,735 $ 751,845 C. Other financing arrangements - 564,709 Total long-term debt $ 853,572 $ 1,316,554 Less: Deferred financing costs (2,592 ) (8,148 ) Total long-term debt, net 850,980 1,308,406 Less: Long-term debt current portion (207,516 ) (151,546 ) Add: Deferred financing costs, current portion 1,198 2,384 Total long-term debt, non-current, net $ 644,662 $ 1,159,244 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year ending December 31, Amount 2019 $ 151,546 2020 397,513 2021 252,923 2022 49,850 2023 65,185 2024 and thereafter 399,537 Total $ 1,316,554 |
Schedule of Financing Costs [Table Text Block] | <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Financing costs</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance, January 1, 2017</td> <td style="width: 2%; font-weight: bold; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,300</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Additions</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,733</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Amortization and write-off</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,236</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt"><div style="display: inline; font-weight: bold;">Balance, December 31, 2017</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-weight: bold;">6,797</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Additions</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,584</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Amortization and write-off</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,907</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt"><div style="display: inline; font-weight: bold;">Balance, December 31, 2018</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-weight: bold;">11,474</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Less: Current portion of financing costs</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,200</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt"><div style="display: inline; font-weight: bold;">Financing costs, non-current portion</div></td> <td style="padding-bottom: 2.5pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 2.5pt double; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-weight: bold;">8,274</div></div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> </tr> </table></div>" id="sjs-B6"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Financing costs</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; font-weight: bold; text-align: justify; padding-bottom: 1pt">Balance, January 1, 2017</td> <td style="width: 2%; font-weight: bold; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</td> <td style="width: 12%; border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,300</div></td> <td style="white-space: nowrap; width: 1%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Additions</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,733</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Amortization and write-off</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,236</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt"><div style="display: inline; font-weight: bold;">Balance, December 31, 2017</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-weight: bold;">6,797</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Additions</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,584</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Amortization and write-off</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,907</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt"><div style="display: inline; font-weight: bold;">Balance, December 31, 2018</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-weight: bold;">11,474</div></div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Less: Current portion of financing costs</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,200</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt"><div style="display: inline; font-weight: bold;">Financing costs, non-current portion</div></td> <td style="padding-bottom: 2.5pt"><div style="display: inline; font-weight: bold;"> </div></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><div style="display: inline; font-weight: bold;">$</div></td> <td style="border-bottom: Black 2.5pt double; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-weight: bold;">8,274</div></div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; text-align: left"><div style="display: inline; font-weight: bold;"> </div></td> </tr> </table></div> |
Note 11 - Capital Leased Asse_2
Note 11 - Capital Leased Assets and Capital Lease Obligations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Prepaid Lease Rentals [Table Text Block] | December 31, 2017 December 31, 2018 Prepaid lease rentals $ 60,422 $ 51,670 Less: Amortization of prepaid lease rentals (8,752 ) (8,751 ) Prepaid lease rentals $ 51,670 $ 42,919 Less: current portion (8,752 ) (8,752 ) Non-current portion $ 42,918 $ 34,167 |
Finance Lease Obligations [Table Text Block] | Year ending December 31, Amount 2019 49,798 2020 49,895 2021 49,798 2022 49,798 2023 95,086 2024 and thereafter 108,455 Total 402,830 Less: Amount of interest ( MSC Azov MSC Ajaccio MSC Amalfi Leonidio Kyparissia (60,172 ) Total lease payments 342,658 Less: Financing costs, net (3,326 ) Total lease payments, net 339,332 |
Finance Lease Obligations Current and Non-Current [Table Text Block] | December 31, 2017 December 31, 2018 Capital lease obligation – current $ 33,753 $ 35,115 Less: current portion of financing costs (879 ) (816 ) Capital lease obligation – non-current 342,658 307,543 Less: non-current portion of financing costs (3,326 ) (2,510 ) Total $ 372,206 $ 339,332 |
Note 12 - Accrued Charter Rev_2
Note 12 - Accrued Charter Revenue, Current and Non-current, Unearned Revenue, Current and Non-current and Time Charter Assumed (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Unbilled Receivables, Not Billable at Balance Sheet Date [Table Text Block] | Year ending December 31, Amount 2019 $ (7,356 ) 2020 (1,193 ) 2021 - 2022 - 2023 (366 ) 2024 (226 ) Total $ (9,141 ) |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | December 31, 2017 December 31, 2018 Hires collected in advance $ 5,589 $ 4,475 Deferred gain, net 4,158 3,557 Charter revenue resulting from varying charter rates 16,620 9,141 Total $ 26,367 $ 17,173 Less current portion (15,310 ) (12,432 ) Non-current portion $ 11,057 $ 4,741 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Non Cancelable Long-Term Time Charter Contracts [Table Text Block] | Year ending December 31, Amount 2019 $ 371,424 2020 289,423 2021 228,814 2022 163,385 2023 156,457 2024 and thereafter 636,272 Total $ 1,845,775 |
Note 15 - Earnings Per Share _2
Note 15 - Earnings Per Share (EPS) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | December 31, 2016 2017 2018 Basic EPS Basic EPS Basic EPS Net income $ 81,702 $ 72,876 $ 67,239 Less: paid and accrued earnings allocated to Preferred Stock (21,063 ) (21,063 ) (30,503 ) Net income available to common stockholders 60,639 51,813 36,736 Weighted average number of common shares, basic and diluted 77,243,252 100,527,907 110,395,134 Earnings per common share, basic and diluted $ 0.79 $ 0.52 $ 0.33 |
Note 16 - Interest and Financ_2
Note 16 - Interest and Finance Costs (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Interest Finance Costs [Table Text Block] | Years ended December 31, 2016 2017 2018 Interest expense $ 49,880 $ 55,925 $ 61,415 Interest capitalized - - (808 ) Swap effect 20,237 11,393 74 Amortization and write-off of financing costs 2,613 2,236 2,907 Commitment fees 75 30 132 Bank charges and other financing costs 3 256 272 Total $ 72,808 $ 69,840 $ 63,992 |
Note 18 - Derivatives (Tables)
Note 18 - Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Derivatives In ASC 815 Cash Flow Hedging Relationships [Table Text Block] | <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td colspan="27" style="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">The Effect of Derivative Instruments for the years ended December 31, 2016, 2017 and 2018</td> </tr> <tr style="vertical-align: bottom"> <td colspan="27" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Derivatives in ASC 815 Cash Flow Hedging Relationships</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: justify"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="11" style="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Amount of Gain / (Loss) Recognized in Accumulated OCI on</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Derivative</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">(Effective Portion)</div></div></td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Location of Gain / (Loss)<br /> Recognized in Income on <br /> Derivative (Ineffective <br /> Portion)</td> <td style="padding-bottom: 1pt"> </td> <td colspan="11" style="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Amount of Gain / (Loss)</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Recognized in Income on</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Derivative</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">(Ineffective Portion)</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="padding-bottom: 1pt"> </td> <td style="white-space: nowrap; text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 29%; text-align: left">Interest rate swaps</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,828</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,999</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,382</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 16%; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reclassification to Interest and finance costs</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,237</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,393</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt; text-indent: 3.15pt; padding-left: 10pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,065</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,392</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,456</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="text-align: justify; padding-bottom: 2.5pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> </tr> </table></div>" id="sjs-B4"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td colspan="27" style="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">The Effect of Derivative Instruments for the years ended December 31, 2016, 2017 and 2018</td> </tr> <tr style="vertical-align: bottom"> <td colspan="27" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Derivatives in ASC 815 Cash Flow Hedging Relationships</td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: justify"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="11" style="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Amount of Gain / (Loss) Recognized in Accumulated OCI on</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Derivative</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">(Effective Portion)</div></div></td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Location of Gain / (Loss)<br /> Recognized in Income on <br /> Derivative (Ineffective <br /> Portion)</td> <td style="padding-bottom: 1pt"> </td> <td colspan="11" style="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Amount of Gain / (Loss)</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Recognized in Income on</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Derivative</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">(Ineffective Portion)</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="padding-bottom: 1pt"> </td> <td style="white-space: nowrap; text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 29%; text-align: left">Interest rate swaps</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,828</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,999</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,382</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 16%; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 6%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reclassification to Interest and finance costs</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,237</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,393</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: justify; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt; text-indent: 3.15pt; padding-left: 10pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,065</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,392</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,456</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="text-align: justify; padding-bottom: 2.5pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> </tr> </table></div> |
Schedule of Derivatives Not Designated as Hedging Instruments under ASC 815 [Table Text Block] | <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td colspan="15" style="text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Derivatives Not Designated as Hedging Instruments</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">and ineffectiveness of Hedging Instruments under ASC 815</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Location of Gain / (Loss)</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Recognized in Income on Derivative</div></div></td> <td style="padding-bottom: 1pt"> </td> <td colspan="11" style="text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Amount of Gain / (Loss)</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Recognized in Income</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">on Derivative</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 42%; text-align: left">Non hedging interest rate swaps</td> <td style="width: 1%"> </td> <td style="width: 24%; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,554</div></td> <td style="white-space: nowrap; width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,113</div></td> <td style="white-space: nowrap; width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(436</div></td> <td style="white-space: nowrap; width: 1%; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ineffective portion of hedging interest rate swaps</td> <td> </td> <td style="text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Forward contracts</td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(437</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">197</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(112</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="text-align: justify; padding-bottom: 2.5pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,991</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(916</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(548</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> </tr> </table></div>" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td colspan="15" style="text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Derivatives Not Designated as Hedging Instruments</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">and ineffectiveness of Hedging Instruments under ASC 815</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Location of Gain / (Loss)</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Recognized in Income on Derivative</div></div></td> <td style="padding-bottom: 1pt"> </td> <td colspan="11" style="text-align: center; border-bottom: Black 1pt solid"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Amount of Gain / (Loss)</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">Recognized in Income</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><div style="display: inline; font-weight: bold;">on Derivative</div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 42%; text-align: left">Non hedging interest rate swaps</td> <td style="width: 1%"> </td> <td style="width: 24%; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,554</div></td> <td style="white-space: nowrap; width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,113</div></td> <td style="white-space: nowrap; width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 8%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(436</div></td> <td style="white-space: nowrap; width: 1%; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Ineffective portion of hedging interest rate swaps</td> <td> </td> <td style="text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="white-space: nowrap; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Forward contracts</td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Loss on derivative instruments, net</div></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(437</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">197</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(112</div></td> <td style="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="text-align: justify; padding-bottom: 2.5pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div></td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,991</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(916</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(548</div></td> <td style="white-space: nowrap; border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> </tr> </table></div> |
Note 19 - Financial Instrumen_2
Note 19 - Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Derivative Assets and Liabilities at Fair Value [Table Text Block] | December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring measurements: Forward contracts-asset position $ 112 $ - $ 112 $ - Interest rate swaps-asset position 5,754 - 5,754 - Interest rate swaps-liability position (4,703 ) - (4,703 ) - Total $ 1,163 $ - $ 1,163 $ - December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) Recurring measurements: Interest rate swaps-asset position $ 7,241 $ - $ 7,241 $ - Total $ 7,241 $ - $ 7,241 $ - |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and General Information (Details Textual) | Jan. 30, 2018$ / sharesshares | May 31, 2017$ / sharesshares | Dec. 05, 2016$ / sharesshares | May 13, 2015$ / sharesshares | Jan. 21, 2014$ / sharesshares | Aug. 07, 2013$ / sharesshares | Oct. 19, 2012$ / sharesshares | Mar. 27, 2012$ / sharesshares | Dec. 31, 2018shares | Dec. 31, 2017shares | Dec. 31, 2016shares | Dec. 31, 2018shares |
Stock Issued During Period, Shares, Dividend Reinvestment Plan | shares | 9,770,630 | |||||||||||
Common Stock, Shares, Outstanding, Ending Balance | shares | 105,840,848 | 112,464,230 | 112,464,230 | |||||||||
Number of Vessels | 62 | 53 | 62 | |||||||||
Carrying Capacity of Vessels at Period End (TEU) | 409,345 | 316,307 | 409,345 | |||||||||
Number of Subsidiaries | 85 | 85 | ||||||||||
MARSHALL ISLANDS | ||||||||||||
Number of Subsidiaries | 10 | 10 | ||||||||||
Konstantakopoulos Family [Member] | ||||||||||||
Percentage Ownership | 56.10% | 56.10% | ||||||||||
Common Stock Issued to Costamare Shipping Services Ltd. [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 598,400 | 598,400 | 598,400 | |||||||||
Series B Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | shares | 2,000,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 7.625% | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Series C Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | shares | 4,000,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 8.50% | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Series D Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | shares | 4,000,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 8.75% | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Series E Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | shares | 4,600,000 | |||||||||||
Preferred Stock, Dividend Rate, Percentage | 8.875% | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Follow On Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 13,500,000 | 12,000,000 | 7,000,000 | 7,500,000 | ||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||
Sale of Stock, Price Per Share | $ 7.10 | $ 6 | $ 14 | $ 14.10 |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements (Details Textual) shares in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)$ / itemshares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Provision for Doubtful Accounts | $ 0 | $ 0 | |
Estimated Scrap Rate | $ / item | 0.3 | ||
Fleet Utilization | 99.20% | ||
Operating Expenses Increase Rate | 2.76% | ||
Vessels Impairment Loss | $ 0 | 17,959,000 | $ 0 |
Weighted Average Number of Shares Outstanding, Diluted, Total | shares | 0 | ||
Proceeds from Settlements of Insurance Claims Regarding Hull and Machinery Reclassified from Cash Flows from Operating activities to Investing Activities [Member] | |||
Prior Period Reclassification Adjustment | 2,273,000 | 6,433,000 | |
Current Period Reclassification Adjustment | $ 931,000 | ||
Return on Investment from Equity Method Investees Reclassified from Cash Flows from Investing Activities to Operating Activities [Member] | |||
Prior Period Reclassification Adjustment | $ 3,040,000 | $ 439,000 | |
Current Period Reclassification Adjustment | $ 8,000,000 | ||
Minimum [Member] | |||
General Fair Value Hedge Information, Hedge Effectiveness Threshold | 80.00% | ||
Maximum [Member] | |||
General Fair Value Hedge Information, Hedge Effectiveness Threshold | 125.00% | ||
Vessels [Member] | |||
Property, Plant and Equipment, Useful Life | 30 years |
Note 2 - Significant Accounti_4
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncement - Revenues from Significant Charterers (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member] | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Concentration risk percentage | 88.00% | 94.00% | 91.00% |
Major Customer A [Member] | |||
Concentration risk percentage | 27.00% | 28.00% | 30.00% |
Major Customer B [Member] | |||
Concentration risk percentage | 27.00% | 29.00% | 28.00% |
Major Customer C [Member] | |||
Concentration risk percentage | 10.00% | 16.00% | 14.00% |
Major Customer D [Member | |||
Concentration risk percentage | 24.00% | 21.00% | 19.00% |
Note 2 - Significant Accounti_5
Note 2 - Significant Accounting Polices and Recent Accounting Pronouncements - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | $ 113,714 | $ 178,986 | $ 164,898 |
Restricted cash – current portion | 5,600 | 7,238 | 6,882 |
Restricted cash – non-current portion | 47,177 | 32,661 | 38,783 |
Total cash, cash equivalents and restricted cash | $ 166,491 | $ 218,885 | $ 210,563 |
Note 3 - Transactions With Re_2
Note 3 - Transactions With Related Parties (Details Textual) € in Thousands | 12 Months Ended | ||||||
Dec. 31, 2018USD ($)shares | Dec. 31, 2018EUR (€)shares | Dec. 31, 2017USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Jan. 01, 2018 | |
Management Fees Related Parties | $ 19,533,000 | $ 18,693,000 | $ 18,629,000 | ||||
Voyage Expenses Related Parties | 3,201,000 | 3,093,000 | 3,512,000 | ||||
Due from Related Parties, Current, Total | 4,681,000 | 5,273,000 | |||||
Due to Related Parties, Current, Total | 196,000 | 203,000 | |||||
Costamare Shipping Company SA and Costamare Shipping Services Ltd. [Member] | |||||||
Management Fee Per Day, Per Vessel | 956 | ||||||
Management Fee Per Day, Per Vessel Under Bareboat Charter | 478 | ||||||
Construction Supervisory Fee | $ 787,400 | ||||||
Commission Charged on Charter Hire Agreements | 0.75% | 0.75% | |||||
Annual Fee to Related Parties | $ 2,500,000 | ||||||
Annual Fee to Related Parties, Shares | shares | 598,400 | 598,400 | |||||
Net Profit Earned Pursuant to Co-operation Agreement | $ 456,000 | 380,000 | 561,000 | ||||
Number of Vessels Under Ship Management Cell | 20 | ||||||
Management Fees Related Parties | $ 19,989,000 | 19,073,000 | 19,190,000 | ||||
Voyage Expenses Related Parties | $ 2,846,000 | 3,093,000 | 3,512,000 | ||||
Management Fees Expressed as Gross Revenue | 0.75% | 0.75% | |||||
Fair Value of Shares Issued to Manager | $ 3,755,000 | 3,866,000 | 4,951,000 | ||||
Stock Issued During Period, Shares, New Issues | shares | 598,400 | 598,400 | |||||
Working Capital Security | $ 1,875,000 | 1,575,000 | |||||
Working Capital Security Per Vessel | 75,000 | ||||||
Total Charges by Manager to Companys Affiliates | 6,428,000 | 5,047,000 | $ 2,996,000 | ||||
Due from Related Parties, Current, Total | 4,681,000 | 5,273,000 | |||||
Due to Related Parties, Current, Total | 196,000 | 203,000 | |||||
Costamare Shipping Company SA and Costamare Shipping Services Ltd. [Member] | General and Administrative Expense [Member] | |||||||
Officers Compensation Charged, Period End | $ 2,500,000 | 2,500,000 | $ 2,500,000 | ||||
SCSC Chairman and CEO [Member] | |||||||
Percentage Ownership | 70.00% | ||||||
SCSC GM [Member] | |||||||
Percentage Ownership | 30.00% | ||||||
Shanghai Costamare Ship Management Co Ltd [Member] | |||||||
Due to Related Parties, Current, Total | $ 0 | $ 0 | |||||
Number Vessels Managed | 15 | 14 | |||||
Blue Net Chartering GmbH & Co. KG [Member] | |||||||
Annual Fee to Related Parties | € | € 10,364 | ||||||
Voyage Expenses Related Parties | $ 355,000 | ||||||
Percentage Ownership | 50.00% | ||||||
Annual Fee to Related Parties, Pre-Amendment | € | 13,074 | € 1,644 | |||||
Annual Fee to Related Parties, Chartered in Current Period | € | € 1,139 |
Note 4 - Other Non-current As_2
Note 4 - Other Non-current Assets (Details Textual) - USD ($) $ in Thousands | Jul. 16, 2014 | Dec. 31, 2014 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2018 |
Amortization of Debt Discount (Premium) | $ (779) | $ (715) | $ (659) | |||
Zim Integrated Services [Member] | The 3.0% Series 1 Notes Due 2023 [Member] | ||||||
Investment Stated Interest Rate | 3.00% | |||||
Zim Integrated Services [Member] | The 5.0% Series 2 Notes Due 2023 [Member] | ||||||
Investment Stated Interest Rate | 5.00% | |||||
Investment Stated Interest Rate, Payable Quarterly | 3.00% | |||||
Investment Interest Rate, Stated Percentage, Deferred Accrual | 2.00% | |||||
Zim Investments [Member] | ||||||
Write-off Deriving from Fair Value Measurement | $ 2,888 | |||||
Equity Securities [Member] | Zim Investments [Member] | ||||||
Held-to-Maturity Securities, Equity Interest Acquired | 1.20% | |||||
Equity Securities, FV-NI | $ 7,802 | |||||
Other than Temporary Impairment Losses, Investments, Total | 0 | |||||
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Total | 4,000 | |||||
Proceeds from Dividends Received | $ 0 | |||||
Debt Securities [Member] | Zim Investments [Member] | ||||||
Debt Securities, Held-to-maturity, Total | 8,229 | |||||
Debt Securities [Member] | Zim Investments [Member] | Zim 3.0% Series 1 Notes Due 2023 [Member] | ||||||
Debt Securities, Held-to-maturity, Total | 1,452 | 1,406 | ||||
Debt Securities, Held-to-maturity, Fair Value, Total | 676 | |||||
Amortization of Debt Discount (Premium) | 779 | $ 715 | 659 | |||
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities | $ 46 | |||||
Other than Temporary Impairment Losses, Investments, Total | 0 | |||||
Debt Securities [Member] | Zim Investments [Member] | Zim 5.0% Series 2 Notes Due 2023 [Member] | ||||||
Debt Securities, Held-to-maturity, Total | 6,777 | |||||
Debt Securities, Held-to-maturity, Fair Value, Total | $ 3,567 | |||||
Debt Securities [Member] | Zim Investments [Member] | The 5.0% Series 2 Notes Due 2023 [Member] | ||||||
Other than Temporary Impairment Losses, Investments, Total | $ 0 |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Inventory, Net, Total | $ 11,020 | $ 9,662 |
Note 6 - Vessels and Advances_3
Note 6 - Vessels and Advances, Net (Details Textual) $ in Thousands | Nov. 12, 2018USD ($) | May 31, 2018 | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Number of Vessels Ordered | 5 | ||||
Gain (Loss) on Sale Vessels | $ (3,071) | $ (4,856) | $ (4,440) | ||
Vessel Held For Sale | 4,838 | 7,315 | |||
Gain (Loss) on Assets Held for Sale | $ (101) | $ (2,379) | $ (37,161) | ||
Number of Vessels Provided as Collaterals to Secure Loans | 48 | ||||
Carrying Value of Vessels Provided as Collaterals to Secure Loans | $ 1,574,546 | ||||
Number of Vessels Under Sale and Leaseback Transactions | 7 | ||||
Number of Vessels Under Share Purchase Agreement | 5 | ||||
Number of Unencumbered Vessels | 2 | ||||
Purchase form York [Member] | York [Member] | |||||
Asset Acquisition, Percentage of Assets | 60.00% | ||||
Companies Owning Triton, Titan, Talos, Taurus and Theseus [Member] | |||||
Finite-lived Intangible Assets Acquired | $ 1,439 | ||||
Michigan, Trader, Megalopolis, Marathopolis, Maersk Kleven and Maersk Kotka [Member] | |||||
Number of Vessels Acquired | 6 | ||||
Twenty-foot Equivalent Units Measured on Each Vessel Acquired | 28,602 | ||||
Triton, Titan, Talos, Taurus, and Theseus [Member] | Companies Owning Triton, Titan, Talos, Taurus and Theseus [Member] | |||||
Twenty-foot Equivalent Units Measured on Each Vessel Acquired | 72,120 | ||||
Five Newbuild Vessels Expected to be Delivered Between the Second Quarter of 2020 and the Second Quarter of 2021 [Member] | |||||
Number of Vessels Ordered | 5 | ||||
Approximate Twenty-foot Equivalet Units Measured on Each Vessel Ordered | 12,690 | ||||
Expected Charter Time of Vessels | 10 years | ||||
Leonidio Vessel [Member] | |||||
Twenty-foot Equivalent Units Measured on Each Vessel Acquired | 4,957 | ||||
Kyparissia Vessel [Member] | |||||
Twenty-foot Equivalent Units Measured on Each Vessel Acquired | 4,957 | ||||
Maersk Kowloon Vessel [Member] | |||||
Twenty-foot Equivalent Units Measured on Each Vessel Acquired | 7,471 | ||||
CMA CGM L’Etoile Vessel [Member] | |||||
Twenty-foot Equivalent Units Measured on Each Vessel Acquired | 2,556 | ||||
Marina, Mandraki and Mykonos [Member] | |||||
Vessels, Disposal Price | $ 23,246 | ||||
Gain (Loss) on Sale Vessels | (4,856) | ||||
Romanos Vessel [Member] | |||||
Vessels, Disposal Price | 6,585 | ||||
Itea Vessel [Member] | |||||
Vessel Held For Sale | 7,315 | ||||
Gain (Loss) on Assets Held for Sale | $ (2,379) | ||||
MSC Koroni and Itea Vessels [Member] | |||||
Gain (Loss) on Sale Vessels | $ (3,071) | ||||
MSC Pylos [Member] | |||||
Vessel Held For Sale | 4,838 | ||||
Gain (Loss) on Assets Held for Sale | $ (101) |
Note 6 - Vessels and Advances_4
Note 6 - Vessels and Advances, Net - Summary of Vessels (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, Vessel Cost at beginning of the period | $ 2,595,768 | $ 2,688,887 |
Vessel acquisitions and other vessels' costs | 723,544 | 64,231 |
Disposals, transfers and other movements | (20,001) | (157,350) |
Balance, Vessel Cost at end of the period | 3,299,311 | 2,595,768 |
Balance, Accumulated Depreciation at beginning of the period | (1,016,259) | (1,000,602) |
Depreciation | (82,434) | (83,178) |
Disposals, transfers and other movements, accumulated depreciation | 6,168 | 67,521 |
Balance, Accumulated Depreciation at end of the period | (1,092,525) | (1,016,259) |
Balance, Net Book Value at beginning of the period | 1,579,509 | 1,688,285 |
Depreciation | (82,434) | (83,178) |
Disposals, transfers and other movements, net book value | (13,833) | (89,829) |
Vessel acquisitions, advances and other vessels’ costs | 723,544 | 64,231 |
Balance, Net Book Value at end of the period | $ 2,206,786 | $ 1,579,509 |
Note 7 - Deferred Charges, Ne_2
Note 7 - Deferred Charges, Net (Details Textual) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Number Vessels Underwent DD During Period | 17 | 7 | 6 |
Note 7 - Deferred Charges, Ne_3
Note 7 - Deferred Charges, Net - Schedule of Deferred Charges, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, at beginning of the period | $ 15,429 | $ 20,367 |
Additions | 18,568 | 5,582 |
Amortization | (7,290) | (7,627) |
Write-off and other movements (Note 6) | (2,875) | |
Transfer to vessel held for sale | (457) | (18) |
Balance, at end of the period | $ 26,250 | $ 15,429 |
Note 8 - Costamare Ventures I_2
Note 8 - Costamare Ventures Inc. (Details Textual) | 12 Months Ended | |
Dec. 31, 2018 | Nov. 12, 2018 | |
Number of Jointly Owned Companies | 13 | 5 |
Minimum [Member] | ||
Participation After Restatement | 25.00% | |
Participation of Company's Wholly Owned Subsidiary | 25.00% | |
Maximum [Member] | ||
Participation After Restatement | 75.00% | |
Participation of Company's Wholly Owned Subsidiary | 49.00% |
Note 9 - Equity Method Invest_3
Note 9 - Equity Method Investments (Details Textual) $ in Thousands, shares in Millions | Nov. 12, 2018USD ($)shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Apr. 30, 2017USD ($) |
Number of Jointly Owned Companies | 5 | 13 | |||
Income (Loss) from Equity Method Investments, Total | $ 12,051 | $ 3,381 | $ (78) | ||
York [Member] | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 7.6 | ||||
Excess Amount of Acquisition | $ 5,171 | ||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 40.00% | ||||
Skerrett Maritime Co. [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | 39,650 | $ 44,000 | |||
Steadman Maritime Co., Horton Maritime Co. and Marchant Maritime Co. [Member] | Costamare Ventures [Member] | |||||
Payments to Acquire Equity Method Investments | 1,524 | 1,428 | |||
Proceeds from Dividends Received | 1,107 | ||||
Kemp Maritime Co. and Hyde Maritime Co. [Member] | Costamare Ventures [Member] | |||||
Payments to Acquire Equity Method Investments | 3,449 | ||||
Proceeds from Dividends Received | 735 | ||||
Ainsley Maritime Co. and Ambrose Maritime Co. [Member] | Costamare Ventures [Member] | |||||
Payments to Acquire Equity Method Investments | 498 | ||||
Proceeds from Dividends Received | 1,000 | 1,250 | |||
Benedict, Bertrand, Beardmore, Schofield, and Fairbank Maritime Co. [Member] | |||||
Proceeds from Dividends Received | 8,000 | 2,980 | |||
Geyer Maritime Co. [Member] | Costamare Ventures [Member] | |||||
Payments to Acquire Equity Method Investments | 798 | ||||
Skerrett Maritime Co. [Member] | |||||
Proceeds from Dividends Received | 735 | ||||
Skerrett Maritime Co. [Member] | Costamare Ventures [Member] | |||||
Payments to Acquire Equity Method Investments | 1,964 | ||||
Platt Maritime Co. and Sykes Maritime Co. [Member] | |||||
Payments to Acquire Equity Method Investments | $ 4,875 | $ 1,753 |
Note 9 - Equity Method Invest_4
Note 9 - Equity Method Investments - Companies Accounted for as Equity Method Investments (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Steadman Maritime Co. [Member] | |
Vessel name or hull name | Ensenada |
Participation percentage | 49.00% |
Date of establishment | Jul. 1, 2013 |
Marchant Maritime Co. [Member] | |
Vessel name or hull name | |
Participation percentage | 49.00% |
Date of establishment | Jul. 8, 2013 |
Horton Maritime Co. [Member] | |
Vessel name or hull name | |
Participation percentage | 49.00% |
Date of establishment | Jun. 26, 2013 |
Smales Maritime Co. [Member] | |
Vessel name or hull name | Elafonisos |
Participation percentage | 49.00% |
Date of establishment | Jun. 6, 2013 |
Geyer Maritime Co. [Member] | |
Vessel name or hull name | Arkadia |
Participation percentage | 49.00% |
Date of establishment | May 18, 2015 |
Goodway Maritime Co. [Member] | |
Vessel name or hull name | Monemvasia |
Participation percentage | 49.00% |
Date of establishment | Sep. 22, 2015 |
Kemp Maritime Co. [Member] | |
Vessel name or hull name | Cape Akritas |
Participation percentage | 49.00% |
Date of establishment | Jun. 6, 2013 |
Hyde Maritime Co. [Member] | |
Vessel name or hull name | Cape Tainaro |
Participation percentage | 49.00% |
Date of establishment | Jun. 6, 2013 |
Skerrett Maritime Co. [Member] | |
Vessel name or hull name | Cape Artemisio |
Participation percentage | 49.00% |
Date of establishment | Dec. 23, 2013 |
Ainsley Maritime Co. [Member] | |
Vessel name or hull name | Cape Kortia |
Participation percentage | 25.00% |
Date of establishment | Jun. 25, 2013 |
Ambrose Maritime Co. [Member] | |
Vessel name or hull name | Cape Sounio |
Participation percentage | 25.00% |
Date of establishment | Jun. 25, 2013 |
Platt Maritime Co. [Member] | |
Vessel name or hull name | Polar Argentina |
Participation percentage | 49.00% |
Date of establishment | May 18, 2015 |
Sykes Maritime Co. [Member] | |
Vessel name or hull name | Polar Brasil |
Participation percentage | 49.00% |
Date of establishment | May 18, 2015 |
Note 9 - Equity Method Invest_5
Note 9 - Equity Method Investments - Summarized Financial Information on Equity Method Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Non-current assets | $ 552,110 | $ 1,069,449 |
Current assets | 40,230 | 62,170 |
Total assets | 592,340 | 1,131,619 |
Current liabilities | 23,339 | 55,455 |
Voyage revenue | 148,614 | 123,228 |
Net income | $ 29,628 | $ 9,495 |
Note 10 - Long-term Debt (Detai
Note 10 - Long-term Debt (Details Textual) - USD ($) | Dec. 11, 2018 | Nov. 30, 2018 | Jun. 26, 2018 | May 29, 2018 | Sep. 14, 2017 | Aug. 16, 2017 | Aug. 03, 2017 | Jul. 21, 2017 | Jun. 19, 2017 | Oct. 30, 2018 | Aug. 30, 2018 | Feb. 28, 2018 | Feb. 28, 2017 | Jul. 31, 2016 | Dec. 13, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 27, 2018 | Oct. 26, 2018 | Jul. 17, 2018 | Mar. 07, 2018 | Aug. 01, 2017 | Dec. 22, 2016 | Aug. 10, 2016 | May 11, 2016 | Jan. 27, 2016 | May 25, 2012 | Oct. 31, 2011 | Aug. 30, 2011 | Nov. 30, 2010 | Jul. 31, 2008 | May 30, 2008 | Jan. 31, 2008 | Dec. 31, 2007 | Jun. 30, 2006 | Feb. 28, 2006 |
Long-term Debt, Gross | $ 1,316,554,000 | ||||||||||||||||||||||||||||||||||||
Other Long-term Debt, Total | 564,709,000 | ||||||||||||||||||||||||||||||||||||
Financial Arrangement, Total | $ 400,000,000 | ||||||||||||||||||||||||||||||||||||
Interest Costs Capitalized to Vessels and Advances, Net | 797,000 | ||||||||||||||||||||||||||||||||||||
Interest Expense, Total | $ 61,415,000 | $ 55,925,000 | $ 49,880,000 | ||||||||||||||||||||||||||||||||||
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 5.30% | 4.90% | 4.70% | ||||||||||||||||||||||||||||||||||
Interest Expense, Debt, Total | $ 40,412,000 | $ 45,222,000 | $ 50,914,000 | ||||||||||||||||||||||||||||||||||
Interest Costs Capitalized | 808,000 | ||||||||||||||||||||||||||||||||||||
Net Settlements on Interest Rate Swaps Qualifying for Cash Flow Hedge [Member] | |||||||||||||||||||||||||||||||||||||
Interest Costs Capitalized | 11,000 | ||||||||||||||||||||||||||||||||||||
Five Pre- and Post-delivery Financial Agreements [Member] | |||||||||||||||||||||||||||||||||||||
Interest Costs Capitalized to Vessels and Advances, Net | $ 483,000 | ||||||||||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Term Loan, Value Maintenance Clauses | 100.00% | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate During Period | 3.66% | 2.30% | 1.98% | ||||||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Term Loan, Value Maintenance Clauses | 130.00% | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate During Period | 6.42% | 5.98% | 6.04% | ||||||||||||||||||||||||||||||||||
Five Pre- and Post-delivery Financial Agreements [Member] | |||||||||||||||||||||||||||||||||||||
Other Long-term Debt, Total | $ 29,954,000 | ||||||||||||||||||||||||||||||||||||
Financial Arrangemnet, Share Purchased Agreement [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | $ 32,022,000 | ||||||||||||||||||||||||||||||||||||
Other Long-term Debt, Total | 534,755,000 | ||||||||||||||||||||||||||||||||||||
Interest Expense, Total | 4,429,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 751,845,000 | $ 553,735,000 | |||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Mas Shipping Co. Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Prepaid Payment on Principal | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||
Repayments of Long-term Debt, Total | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 75,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 9,125,000 | 13,125,000 | |||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 8,125,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Montes Shipping Co. and Kelsen Shipping Co. Term Loans [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Prepaid Payment on Principal | $ 6,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 150,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 32,000,000 | 42,000,000 | $ 66,000,000 | ||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 5,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 12,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Montes Shipping Co. Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 75,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Costamares Inc. Term Loans [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 120,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 25,725,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Tranche A Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 38,500,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Tranche B Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 42,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Tranche C Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 21,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Tranche D Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 7,470,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Tranche E Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 7,470,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Tranche B and C Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Repayments of Long-term Debt, Total | 19,425,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 229,200,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 147,702,000 | 162,983,000 | |||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Undine, Quentin and Sander Shipping Co. Tranche A and B [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 96,770,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,273,400 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 40,744,800 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Undine, Quentin and Sander Shipping Co. Tranche C [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 50,932,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,273,400 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 40,744,800 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Raymond Shipping Co. and Terance Shipping Co. Term Loans [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 152,800,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 94,135,000 | 105,050,000 | |||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 46,385,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Raymond Shipping Co. and Terance Shipping Co. Term Loans Tranche A [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 47,750,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,364,300 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 38,199,600 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Raymond Shipping Co. and Terance Shipping Co. Term Loans Trache B [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,364,300 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 38,199,600 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Uriza Shipping Co. Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 39,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 28,167,000 | 32,500,000 | |||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,083,300 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 17,333,300 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Costis Maritime Co. and Christos Maritime Co. Term Loans [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 150,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Costis Maritime Co. Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 75,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Capetanissa Maritime Co. Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 90,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Costis Maritime Co., Christos Maritime Co. and Capetanissa Maritime Co. [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Prepaid Payment on Principal | $ 4,000,000 | $ 4,000,000 | |||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 77,875,000 | 93,000,000 | $ 116,500,000 | ||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 3,125,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 43,500,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Rena Maritime Co. Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 90,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Rena Maritime Co., Finch Shipping Co. and Joyner Carriers S.A. [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 21,280,000 | 24,480,000 | $ 37,500,000 | ||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 11,680,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Total | 800,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Nerida Shipping Company Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 17,625,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 15,375,000 | 17,175,000 | |||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 8,625,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Total | 450,000 | ||||||||||||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 17,625,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Loan Agreement to Refinance Credit Facility [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Prepaid Payment on Principal | $ 4,477,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 233,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 198,986,000 | 0 | |||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 86,353,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Loan Agreement to Partially Finance the Acquisition of Megalopolis and Marathopolis [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 48,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 12,800,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Loan Agreement to Partially Finance the Acquisition of Megalopolis and Marathopolis, Tranche A [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 23,600,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Total | 400,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Loan Agreement to Partially Finance the Acquisition of Megalopolis and Marathopolis, Tranche B [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 23,600,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 12,800,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Total | 400,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Reddick Shipping Co. and Verandi Shipping Co.Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 25,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 25,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Reddick Shipping Co. and Verandi Shipping Co. Term Loan, Tranche A [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 12,500,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 6,400,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Total | 610,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Loan Agreement to Refinance Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 55,000,000 | ||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 55,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Loan Agreement to Refinance Term Loan, Tranche A [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 28,000,000 | ||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Debt | $ 28,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Loan Agreement to Refinance Term Loan, Tranche B [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 27,000,000 | ||||||||||||||||||||||||||||||||||||
Proceeds from Issuance of Debt | $ 27,000,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Reddick Shipping Co. and Verandi Shipping Co. Term Loan, Tranche B [Member] | |||||||||||||||||||||||||||||||||||||
Long-term Debt, Gross | 12,500,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 6,400,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Total | 610,000 | ||||||||||||||||||||||||||||||||||||
Loans Payable [Member] | Kelsen Shipping Co. Term Loan [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 75,000,000 | ||||||||||||||||||||||||||||||||||||
Loan Facility to Finance Vessels in Fleet [Member] | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Prepaid Payment on Principal | $ 4,586,000 | $ 4,918,000 | $ 3,835,000 | ||||||||||||||||||||||||||||||||||
Repayments of Long-term Debt, Total | $ 24,966,000 | $ 24,966,000 | |||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 120,000,000 | ||||||||||||||||||||||||||||||||||||
Credit Facility [Member] | |||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Prepaid Payment on Principal | $ 9,326,000 | $ 9,388,000 | |||||||||||||||||||||||||||||||||||
Line of Credit Facility, Covenant Terms, Total Liabilities to Market Valued Total Assets | 75.00% | ||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Covenant Terms, Minimum Required Liquidation Preference | $ 30,000,000 | ||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Covenant Terms, Minimum Required Liquidation Percent of Debt | 3.00% | ||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Covenant Terms, EBITDA | 250.00% | ||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Covenant Terms, Market Value Adjusted Net Worth | $ 500,000,000 | ||||||||||||||||||||||||||||||||||||
Debt Instrument, Covenant Terms, Net Funded Debt to Net Assets | 80.00% | ||||||||||||||||||||||||||||||||||||
Repayments of Long-term Debt, Total | $ 299,837,000 |
Note 10 - Long-term Debt - Sche
Note 10 - Long-term Debt - Schedule of Long-term Debt (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 22, 2016 | Aug. 10, 2016 | Jan. 27, 2016 |
Long-term debt | $ 1,316,554,000 | ||||
Other financing arrangements | 564,709,000 | ||||
Total long-term debt | 1,316,554,000 | 853,572,000 | |||
Less: Deferred financing costs | (8,148,000) | (2,592,000) | |||
Total long-term debt, net | 1,308,406,000 | 850,980,000 | |||
Less: Long-term debt current portion | (151,546,000) | (207,516,000) | |||
Add: Deferred financing costs, current portion | 2,384,000 | 1,198,000 | |||
Total long-term debt, non-current, net | 1,159,244,000 | 644,662,000 | |||
Credit Facility [Member] | |||||
Long-term debt | 0 | 299,837,000 | |||
Loans Payable [Member] | |||||
Long-term debt | 751,845,000 | 553,735,000 | |||
Loans Payable [Member] | Mas Shipping Co. Term Loan [Member] | |||||
Long-term debt | 9,125,000 | 13,125,000 | |||
Loans Payable [Member] | Montes Shipping Co. and Kelsen Shipping Co. Term Loans [Member] | |||||
Long-term debt | 32,000,000 | 42,000,000 | $ 66,000,000 | ||
Loans Payable [Member] | Costamares Inc. Term Loans [Member] | |||||
Long-term debt | 25,725,000 | ||||
Loans Payable [Member] | Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. [Member] | |||||
Long-term debt | 147,702,000 | 162,983,000 | |||
Loans Payable [Member] | Raymond Shipping Co. and Terance Shipping Co. Term Loans [Member] | |||||
Long-term debt | 94,135,000 | 105,050,000 | |||
Loans Payable [Member] | Costamare Inc. Term Loan 2 [Member] | |||||
Long-term debt | 37,697,000 | ||||
Loans Payable [Member] | Uriza Shipping Co. Term Loan [Member] | |||||
Long-term debt | 28,167,000 | 32,500,000 | |||
Loans Payable [Member] | Costis Maritime Co., Christos Maritime Co. and Capetanissa Maritime Co. [Member] | |||||
Long-term debt | 77,875,000 | 93,000,000 | $ 116,500,000 | ||
Loans Payable [Member] | Rena Maritime Co., Finch Shipping Co. and Joyner Carriers S.A. [Member] | |||||
Long-term debt | 21,280,000 | 24,480,000 | $ 37,500,000 | ||
Loans Payable [Member] | Nerida Shipping Company Term Loan [Member] | |||||
Long-term debt | 15,375,000 | 17,175,000 | |||
Loans Payable [Member] | Loan Agreement to Refinance Credit Facility [Member] | |||||
Long-term debt | 198,986,000 | 0 | |||
Loans Payable [Member] | Singleton Shipping Co. and Tatum Shipping Co. Term Loan [Member] | |||||
Long-term debt | 47,200,000 | ||||
Loans Payable [Member] | Reddick Shipping Co. and Verandi Shipping Co.Term Loan [Member] | |||||
Long-term debt | 25,000,000 | ||||
Loans Payable [Member] | Loan Agreement to Refinance Term Loan [Member] | |||||
Long-term debt | $ 55,000,000 |
Note 10 - Long-term Debt - Annu
Note 10 - Long-term Debt - Annual Repayments Under Credit Facilities and Term Loans (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Annual repayment for 2019 | $ 151,546 |
Annual repayment for 2020 | 397,513 |
Annual repayment for 2021 | 252,923 |
Annual repayment for 2022 | 49,850 |
Annual repayment for 2023 | 65,185 |
Annual repayment for 2024 and thereafter | 399,537 |
Total | $ 1,316,554 |
Note 10 - Long-term Debt - Fina
Note 10 - Long-term Debt - Financing Costs Included in Loan Balances (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance, at beginning of the period | $ 6,797 | $ 7,300 |
Additions | 7,584 | 1,733 |
Amortization and write-off | (2,907) | (2,236) |
Balance, at end of the period | 11,474 | $ 6,797 |
Less: Current portion of financing costs | (3,200) | |
Financing costs, non-current portion | $ 8,274 |
Note 11 - Capital Leased Asse_3
Note 11 - Capital Leased Assets and Capital Lease Obligations (Details Textual) - USD ($) $ in Thousands | Jun. 19, 2017 | Jul. 15, 2016 | Jul. 06, 2016 | Apr. 30, 2014 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Additions To Capital Leased Assets | $ 452,564 | ||||||
Amortization of Leased Asset | 13,764 | $ 13,207 | $ 9,942 | ||||
Sale Leaseback Transaction, Accumulated Depreciation | 50,663 | 36,899 | |||||
Finance Leased Assets, Net | 401,901 | 415,665 | |||||
Capital Leases, Future Minimum Payments, Net Minimum Payments, Total | 342,658 | ||||||
Capital Leases, Income Statement, Interest Expense | $ 21,402 | $ 22,096 | $ 19,203 | ||||
Sale Leaseback Transactions Regarding the Vessels MSC Azov, MSC Ajaccio and MSC Amalfi [Member] | |||||||
Sale Leaseback Transaction, Term | 10 years | ||||||
Vessel's sale and leaseback price | $ 85,572 | ||||||
Sale Leaseback Transactions Regarding the Vessel MSC Athos [Member] | |||||||
Sale Leaseback Transaction, Term | 7 years | ||||||
Sale Leaseback Transactions Regarding the Vessel MSC Athens [Member] | |||||||
Sale Leaseback Transaction, Term | 7 years | ||||||
Sale Leaseback Transactions Regarding the Vessels Leonidio and Kyparissia [Member] | |||||||
Sale Leaseback Transaction, Term | 7 years |
Note 11 - Capital Leased Asse_4
Note 11 - Capital Leased Assets and Capital Lease Obligations - Schedule of Prepaid Lease Rentals (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Prepaid lease rentals | $ 51,670 | $ 60,422 |
Less: Amortization of prepaid lease rentals | (8,751) | (8,752) |
Prepaid lease rentals | 42,919 | 51,670 |
Less: current portion | (8,752) | (8,752) |
Non-current portion | $ 34,167 | $ 42,918 |
Note 11 - Capital Leased Asse_5
Note 11 - Capital Leased Assets and Capital Lease Obligations - Annual Lease Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Capital lease payments 2019 | $ 49,798 |
Capital lease payments 2020 | 49,895 |
Capital lease payments 2021 | 49,798 |
Capital lease payments 2022 | 49,798 |
Capital lease payments 2023 | 95,086 |
Capital lease payments 2024 and thereafter | 108,455 |
Capital lease payments Total | 402,830 |
Less: Amount of interest (MSC Azov, MSC Ajaccio, MSC Amalfi, Leonidio and Kyparissia) | (60,172) |
Total lease payments | 342,658 |
Less: Financing costs, net | (3,326) |
Total lease payments, net | $ 339,332 |
Note 11 - Capital Leased Asse_6
Note 11 - Capital Leased Assets and Capital Lease Obligations - Capital Lease Obligations (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Capital lease obligation – current | $ 35,115 | $ 33,753 |
Less: current portion of financing costs | (816) | (879) |
Capital lease obligation – non-current | 307,543 | 342,658 |
Less: non-current portion of financing costs | (2,510) | (3,326) |
Total | $ 339,332 | $ 372,206 |
Note 12 - Accrued Charter Rev_3
Note 12 - Accrued Charter Revenue, Current and Non-current, Unearned Revenue, Current and Non-current and Time Charter Assumed (Details Textual) - USD ($) $ in Thousands | Nov. 12, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accrued Revenue, Net | $ (9,141) | $ (16,435) | ||
Accrued Revenue Receivable | 185 | |||
Deferred Revenue | 17,173 | 26,367 | ||
Amortization of Deferred Gain | 601 | 323 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years 146 days | |||
Amortization of Intangible Assets, Total | 27 | |||
Companies Owning Triton, Titan, Talos, Taurus and Theseus [Member] | York [Member] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 60.00% | |||
Finite-Lived Intangible Assets, Net, Ending Balance | 1,412 | |||
Unearned Revenues Regarding Charter Revenues Resulting from Varying Charter Rates [Member] | ||||
Deferred Revenue | $ 9,141 | $ 16,620 |
Note 12 - Accrued Charter Rev_4
Note 12 - Accrued Charter Revenue, Current and Non-current, Unearned Revenue, Current and Non-current and Time Charter Assumed - Schedule of Accrued Revenue (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Accrued Revenue for 2019 | $ (7,356) |
Accrued Revenue for 2020 | (1,193) |
Accrued Revenue for 2021 | |
Accrued Revenue for 2022 | |
Accrued Revenue for 2023 | (366) |
Accrued Revenue for 2024 | (226) |
Total | $ (9,141) |
Note 12 - Accrued Charter Rev_5
Note 12 - Accrued Charter Revenue, Current and Non-current, Unearned Revenue, Current and Non-current and Time Charter Assumed - Schedule of Unearned Revenue (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Unearned Revenue | $ 17,173 | $ 26,367 |
Less current portion | (12,432) | (15,310) |
Non-current portion | 4,741 | 11,057 |
Unearned Revenues Regarding Hires Collected in Advance [Member] | ||
Unearned Revenue | 4,475 | 5,589 |
Unearned Revenues Regarding Net Deferred Gains [Member] | ||
Unearned Revenue | 3,557 | 4,158 |
Unearned Revenues Regarding Charter Revenues Resulting from Varying Charter Rates [Member] | ||
Unearned Revenue | $ 9,141 | $ 16,620 |
Note 13 - Commitments and Con_3
Note 13 - Commitments and Contingencies (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Jun. 30, 2018 | Apr. 30, 2017USD ($) | |
Aggregate Payable Upon Vessel's Delivery | $ 31,389 | ||
Number of Vessels Ordered | 5 | ||
Capital Commitments at Period End | approximately $0.4 billion | ||
Contractual Obligation of Five Scrubbers | $ 15,453 | ||
Kemp Maritime Co. and Hyde Maritime Co. [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 77,001 | ||
Ainsley Maritime Co. and Ambrose Maritime Co. [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 77,175 | ||
Skerrett Maritime Co. [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 39,650 | $ 44,000 | |
Ainsley Maritime Co., Ambrose Maritime Co., Kemp Maritime Co. and Hyde Maritime Co.and Skerrett Maritime Co. [Member] | |||
Debt Guarantee Percentage | 100.00% | ||
Future Minimum Contractual Charter Revenues Assumptions [Member] | |||
Time Charter Arrangements Remaining Terms Period | 12 years 120 days | ||
Revenue Days Per Annum | 1 year |
Note 13 - Commitments and Con_4
Note 13 - Commitments and Contingencies - Schedule of Time Charter Arrangements (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Minimum Contractual Charter for 2019 | $ 371,424 |
Minimum Contractual Charter for 2020 | 289,423 |
Minimum Contractual Charter for 2021 | 228,814 |
Minimum Contractual Charter for 2022 | 163,385 |
Minimum Contractual Charter for 2023 | 156,457 |
Minimum Contractual Charter for 2023 and thereafter | 636,272 |
Total | $ 1,845,775 |
Note 14 - Common Stock and Ad_2
Note 14 - Common Stock and Additional Paid-in Capital (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jan. 30, 2018 | May 31, 2017 | Dec. 05, 2016 | Oct. 19, 2012 | Mar. 27, 2012 | Jun. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | May 13, 2015 | Jan. 21, 2014 | Aug. 07, 2013 |
Common Stock, Shares, Outstanding, Ending Balance | 105,840,848 | 112,464,230 | ||||||||||
Follow on Offering Proceeds Net Related Expenses | $ 111,224 | $ 91,675 | $ 69,037 | |||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.10 | $ 0.10 | ||||||||||
Dividends, Preferred Stock, Cash | $ 28,292 | 21,063 | $ 21,063 | |||||||||
Fourth Quarter 2016 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 3,619 | |||||||||||
Common Stock Dividends, Shares | 1,014,550 | |||||||||||
First Quarter 2017 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 3,610 | |||||||||||
Common Stock Dividends, Shares | 751,817 | |||||||||||
Second Quarter 2017 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 4,823 | |||||||||||
Common Stock Dividends, Shares | 894,989 | |||||||||||
Third Quarter 2017 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 4,641 | |||||||||||
Common Stock Dividends, Shares | 1,021,348 | |||||||||||
Fourth Quarter 2017 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 4,583 | |||||||||||
Common Stock Dividends, Shares | 988,841 | |||||||||||
First Quarter 2018 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 4,833 | |||||||||||
Common Stock Dividends, Shares | 885,324 | |||||||||||
Second Quarter 2018 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 4,854 | |||||||||||
Common Stock Dividends, Shares | 901,634 | |||||||||||
Third Quarter 2018 Dividends [Member] | ||||||||||||
Dividends, Common Stock, Cash | $ 6,581 | |||||||||||
Common Stock Dividends, Shares | 884,046 | |||||||||||
Common Stock Issued for the Services Agreement [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 598,400 | 598,400 | 598,400 | |||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||
Common Stock Issued for Dividend Reinvestment Plan [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 3,659,845 | 3,682,704 | 2,428,081 | |||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||
Shares Issued, Price Per Share | $ 6.307794 | $ 6.194 | $ 8.043837 | |||||||||
Series E Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | 4,600,000 | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Follow on Offering Proceeds Net Related Expenses | $ 111,224 | |||||||||||
Series E Preferred Stock [Member] | April 15, 2018 to July 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,551 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.554688 | |||||||||||
Series E Preferred Stock [Member] | July 15, 2018 to October 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,551 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.554688 | |||||||||||
Series E Preferred Stock [Member] | January 30, 2018 to April 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,126 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.46224 | |||||||||||
Series B Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | 2,000,000 | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Series B Preferred Stock [Member] | October 15, 2016 to January 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series B Preferred Stock [Member] | January 15, 2017 to April 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series B Preferred Stock [Member] | April 15, 2017 to July 14, 2017 Dividends[Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series B Preferred Stock [Member] | July 15, 2017 to October 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series B Preferred Stock [Member] | October 15, 2017 to January 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series B Preferred Stock [Member] | January 15, 2018 to April 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series B Preferred Stock [Member] | April 15, 2018 to July 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series B Preferred Stock [Member] | July 15, 2018 to October 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 953 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.476563 | |||||||||||
Series C Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | 4,000,000 | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Series C Preferred Stock [Member] | October 15, 2016 to January 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series C Preferred Stock [Member] | January 15, 2017 to April 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series C Preferred Stock [Member] | April 15, 2017 to July 14, 2017 Dividends[Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series C Preferred Stock [Member] | July 15, 2017 to October 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series C Preferred Stock [Member] | October 15, 2017 to January 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series C Preferred Stock [Member] | January 15, 2018 to April 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series C Preferred Stock [Member] | April 15, 2018 to July 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series C Preferred Stock [Member] | July 15, 2018 to October 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,125 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.53125 | |||||||||||
Series D Preferred Stock [Member] | ||||||||||||
Sale of Stock, Price Per Share | $ 25 | |||||||||||
Preferred Stock, Shares Issued, Total | 4,000,000 | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | |||||||||||
Series D Preferred Stock [Member] | October 15, 2016 to January 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Series D Preferred Stock [Member] | January 15, 2017 to April 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Series D Preferred Stock [Member] | April 15, 2017 to July 14, 2017 Dividends[Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Series D Preferred Stock [Member] | July 15, 2017 to October 14, 2017 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Series D Preferred Stock [Member] | October 15, 2017 to January 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Series D Preferred Stock [Member] | January 15, 2018 to April 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Series D Preferred Stock [Member] | April 15, 2018 to July 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Series D Preferred Stock [Member] | July 15, 2018 to October 14, 2018 Dividends [Member] | ||||||||||||
Dividends, Preferred Stock, Cash | $ 2,188 | |||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.546875 | |||||||||||
Follow On Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 13,500,000 | 12,000,000 | 7,000,000 | 7,500,000 | ||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||
Sale of Stock, Price Per Share | $ 7.10 | $ 6 | $ 14 | $ 14.10 | ||||||||
Proceeds from Issuance of Common Stock | $ 91,675 | $ 69,037 | $ 112,464,230 |
Note 15 - Earnings Per Share _3
Note 15 - Earnings Per Share (EPS) (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Dividends, Preferred Stock, Total | $ 30,503 | $ 21,063 | $ 21,063 |
Note 15 - Earnings Per Share _4
Note 15 - Earnings Per Share (EPS) - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income: | $ 67,239 | $ 72,876 | $ 81,702 |
Earnings allocated to Preferred Stock (Note 15) | (30,503) | (21,063) | (21,063) |
Net income available to common stockholders | $ 36,736 | $ 51,813 | $ 60,639 |
Weighted average number of shares, basic and diluted (in shares) | 110,395,134 | 100,527,907 | 77,243,252 |
Earnings per common share, basic and diluted (Note 15) (in dollars per share) | $ 0.33 | $ 0.52 | $ 0.79 |
Note 16 - Interest and Financ_3
Note 16 - Interest and Finance Costs - Schedule of Income Statement Related Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest expense | $ 61,415 | $ 55,925 | $ 49,880 |
Interest capitalized | (808) | 0 | |
Swap effect | 74 | 11,393 | 20,237 |
Amortization and write-off of financing costs | 2,907 | 2,236 | 2,613 |
Commitment fees | 132 | 30 | 75 |
Bank charges and other financing costs | 272 | 256 | 3 |
Total | $ 63,992 | $ 69,840 | $ 72,808 |
Note 17 - Taxes (Details Textua
Note 17 - Taxes (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 50.00% |
US Related Gross Transportation Income That Tax Applies | 4.00% |
Note 18 - Derivatives (Details
Note 18 - Derivatives (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)€ / $ | Dec. 31, 2017USD ($)€ / $ | Dec. 31, 2016USD ($) | |
Swaps Breakage Cost | $ 1,234 | $ 9,701 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 3,402 | ||
Number of Foreign Currency Derivatives Held | 5 | 2 | |
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net, Total | $ 10,000 | $ 4,000 | |
Derivative, Average Forward Exchange Rate | € / $ | 1.1514 | 1.1682 | |
Gain (Loss) on Foreign Currency Fair Value Hedge Derivatives | $ (112) | $ 197 | (437) |
Realized Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | (386) | (2,212) | $ (8,500) |
Interest Rate Swaps That Meet the Criteria for Hedge Accounting [Member] | |||
Derivative Liability, Notional Amount | 310,785 | 656,096 | |
Interest Rate Fair Value Hedge Derivative at Fair Value, Net, Total | 7,107 | 2,031 | |
Swaps Breakage Cost | 1,234 | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 3,402 | ||
Interest Rate Swaps That Do Not Meet the Criteria For Hedge Accounting [Member] | |||
Derivative Liability, Notional Amount | 49,659 | 89,752 | |
Interest Rate Fair Value Hedge Derivative at Fair Value, Net, Total | $ 134 | $ (980) |
Note 18 - Derivatives - Effect
Note 18 - Derivatives - Effect of Derivative Instruments (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest rate swaps, effective portion | $ 5,382 | $ 1,999 | $ 8,828 | |
Reclassification to Interest and finance costs, effective portion | 74 | 11,393 | 20,237 | |
Reclassification to Interest and finance costs, ineffective portion | $ 0 | |||
Unrealized gain on cash flow hedges, net (Notes 18 and 20) | 5,456 | 13,392 | 29,065 | |
Total, ineffective portion | 0 | |||
Interest Rate Swap [Member] | ||||
Interest rate swaps, effective portion | $ 5,382 | $ 1,999 | $ 8,828 | |
Interest rate swaps, ineffective portion | $ 0 |
Note 18 - Derivatives - Derivat
Note 18 - Derivatives - Derivatives Not Designated as Hedging Instruments and Ineffectiveness of Hedging Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Non hedging interest rate swaps | $ (436) | $ (1,113) | $ (3,554) |
Ineffective portion of hedging interest rate swaps | 0 | 0 | |
Forward contracts | (112) | 197 | (437) |
Total | $ (548) | $ (916) | $ (3,991) |
Note 19 - Financial Instrumen_3
Note 19 - Financial Instruments (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value | $ 0 | $ 112 |
Interest Rate Swap [Member] | ||
Derivative Assets (Liabilities), at Fair Value, Net, Total | $ 7,241 | $ 1,051 |
Note 19 - Financial Instrumen_4
Note 19 - Financial Instruments - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Forward contracts-asset position | $ 0 | $ 112 |
Fair Value, Measurements, Recurring [Member] | ||
Forward contracts-asset position | 112 | |
Interest rate swaps-asset position | 7,241 | 5,754 |
Interest rate swaps-liability position | (4,703) | |
Total | 7,241 | 1,163 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Forward contracts-asset position | ||
Interest rate swaps-asset position | ||
Interest rate swaps-liability position | 0 | |
Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Forward contracts-asset position | 112 | |
Interest rate swaps-asset position | 7,241 | 5,754 |
Interest rate swaps-liability position | (4,703) | |
Total | 7,241 | 1,163 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Forward contracts-asset position | ||
Interest rate swaps-asset position | ||
Interest rate swaps-liability position | 0 | |
Total | $ 0 | $ 0 |
Note 20 - Comprehensive Income
Note 20 - Comprehensive Income (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Comprehensive Income (Loss), Net of Tax, Total | $ 5,508 | $ 13,455 | $ 30,225 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 5,382 | 1,999 | 8,828 |
Swap Interest Expense, Net | 74 | 11,393 | 20,237 |
Amounts Reclassified From Net Settlements on Interest Rate Swaps Qualifying for Hedge Accounting to Depreciation | (63) | (63) | (84) |
Amounts Reclassified From Net Settlements On Interest Rate Swaps Qualifying For Hedge Accounting To Prepaid Lease Rentals | (1,076) | ||
Net Settlements On Interest Rate Swaps Qualifying for Cash Flow Hedge | (11) | 0 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total | 72,747 | $ 86,331 | $ 111,927 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 3,402 |
Note 21 - Subsequent Events (De
Note 21 - Subsequent Events (Details Textual) - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions | Jan. 03, 2019 | Feb. 01, 2019 |
Interest Rate Swap [Member] | Singleton Shipping Co [Member] | ||
Derivative, Notional Amount | $ 23.2 | |
Derivative, Fixed Interest Rate | 2.554% | |
Interest Rate Swap [Member] | Tatum Shipping Co [Member] | ||
Derivative, Notional Amount | $ 22.8 | |
Derivative, Fixed Interest Rate | 2.527% | |
Series B Preferred Stock [Member] | ||
Dividends Payable, Amount Per Share | $ 0.476563 | |
Dividends Payable, Date Declared | Jan. 3, 2019 | |
Dividends Payable, Date to be Paid | Jan. 15, 2019 | |
Dividends Payable, Date of Record | Jan. 14, 2019 | |
Series C Preferred Stock [Member] | ||
Dividends Payable, Amount Per Share | $ 0.53125 | |
Dividends Payable, Date Declared | Jan. 3, 2019 | |
Dividends Payable, Date to be Paid | Jan. 15, 2019 | |
Dividends Payable, Date of Record | Jan. 14, 2019 | |
Series D Preferred Stock [Member] | ||
Dividends Payable, Amount Per Share | $ 0.546875 | |
Dividends Payable, Date Declared | Jan. 3, 2019 | |
Dividends Payable, Date to be Paid | Jan. 15, 2019 | |
Dividends Payable, Date of Record | Jan. 14, 2019 | |
Series E Preferred Stock [Member] | ||
Dividends Payable, Amount Per Share | $ 0.554688 | |
Dividends Payable, Date Declared | Jan. 3, 2019 | |
Dividends Payable, Date to be Paid | Jan. 15, 2019 | |
Dividends Payable, Date of Record | Jan. 14, 2019 | |
Common Stock [Member] | ||
Dividends Payable, Amount Per Share | $ 0.10 | |
Dividends Payable, Date Declared | Jan. 3, 2019 | |
Dividends Payable, Date to be Paid | Feb. 7, 2019 | |
Dividends Payable, Date of Record | Jan. 22, 2019 |