Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2018 | |
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 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
CURRENT ASSETS: | ||
Cash and cash equivalents (Note 2) | $ 124,392 | $ 178,986 |
Restricted cash (Note 2) | 5,199 | 7,238 |
Accounts receivable | 1,329 | 1,324 |
Inventories (Note 5) | 9,666 | 9,662 |
Due from related parties (Note 3) | 2,506 | 5,273 |
Fair value of derivatives (Notes 18 and 19) | 2,921 | 112 |
Insurance claims receivable | 2,459 | 2,091 |
Prepaid lease rentals (Note 11) | 8,752 | 8,752 |
Accrued charter revenue (Note 12) | 0 | 185 |
Prepayments and other | 5,484 | 5,697 |
Vessel held for sale (Note 6) | 0 | 7,315 |
Total current assets | 162,708 | 226,635 |
FIXED ASSETS, NET: | ||
Capital leased assets (Note 11) | 408,840 | 415,665 |
Vessels and advances, net (Note 6) | 1,606,655 | 1,579,509 |
Total fixed assets, net | 2,015,495 | 1,995,174 |
NON-CURRENT ASSETS: | ||
Equity method investments (Notes 2 and 9) | 172,388 | 161,897 |
Prepaid lease rentals, non-current (Note 11) | 38,579 | 42,918 |
Accounts receivable, non-current (Note 3) | 7,541 | 1,800 |
Deferred charges, net (Note 7) | 23,239 | 15,429 |
Restricted cash (Note 2) | 30,256 | 32,661 |
Fair value of derivatives, non-current (Notes 18 and 19) | 6,791 | 4,358 |
Other non-current assets (Note 4) | 9,676 | 9,426 |
Total assets | 2,466,673 | 2,490,298 |
CURRENT LIABILITIES: | ||
Current portion of long-term debt, net of deferred financing costs (Note 10) | 137,101 | 206,318 |
Accounts payable | 6,858 | 6,314 |
Due to related parties (Note 3) | 155 | 203 |
Capital lease obligations, net (Note 11) | 33,569 | 32,874 |
Accrued liabilities | 11,214 | 10,755 |
Unearned revenue (Note 12) | 13,687 | 15,310 |
Fair value of derivatives (Notes 18 and 19) | 182 | 3,307 |
Other current liabilities | 1,541 | 1,627 |
Total current liabilities | 204,307 | 276,708 |
NON-CURRENT LIABILITIES: | ||
Long-term debt, net of current portion and deferred financing costs (Note 10) | 581,282 | 644,662 |
Capital lease obligations, net of current portion (Note 11) | 322,410 | 339,332 |
Unearned revenue, net of current portion (Note 12) | 7,717 | 11,057 |
Total non-current liabilities | 911,409 | 995,051 |
COMMITMENTS AND CONTINGENCIES (Note 13) | 0 | 0 |
STOCKHOLDERS’ EQUITY: | ||
Preferred stock (Note 14) | 0 | 0 |
Common stock (Note 14) | 11 | 11 |
Additional paid-in capital (Note 14) | 1,301,465 | 1,175,774 |
Retained earnings | 42,778 | 43,723 |
Accumulated other comprehensive income/(loss) (Notes 18 and 20) | 6,703 | (969) |
Total stockholders’ equity | 1,350,957 | 1,218,539 |
Total liabilities and stockholders’ equity | $ 2,466,673 | $ 2,490,298 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
REVENUES: | ||
Voyage revenue | $ 183,331 | $ 210,541 |
EXPENSES: | ||
Voyage expenses | (3,037) | (1,573) |
Voyage expenses-related parties (Note 3) | (1,588) | (1,579) |
Vessels’ operating expenses | (52,842) | (50,847) |
General and administrative expenses | (1,535) | (1,554) |
General and administrative expenses – related parties (Note 3) | (3,377) | (3,328) |
Management fees-related parties (Note 3) | (9,551) | (9,387) |
Amortization of dry-docking and special survey costs (Note 7) | (3,358) | (3,911) |
Depreciation (Notes 6, 11 and 20) | (45,963) | (48,515) |
Amortization of prepaid lease rentals, net (Notes 11 and 12) | (4,041) | (4,320) |
Loss on sale / disposal of vessels, net (Note 6) | (861) | (3,638) |
Loss on vessel held for sale (Note 6) | 0 | (2,732) |
Foreign exchange gains / (losses), net | (18) | 31 |
Operating income | 57,160 | 79,188 |
OTHER INCOME / (EXPENSES): | ||
Interest income | 1,878 | 1,116 |
Interest and finance costs (Note 16) | (29,378) | (35,338) |
Swaps’ breakage cost (Note 18) | (1,234) | 0 |
Equity gain on investments (Note 9) | 5,199 | 887 |
Other, net | 95 | 606 |
Loss on derivative instruments, net (Note 18) | (253) | (396) |
Total other expenses | (23,693) | (33,125) |
Net Income | 33,467 | 46,063 |
Earnings allocated to Preferred Stock (Note 15) | (14,782) | (10,473) |
Net income available to Common Stockholders | $ 18,685 | $ 35,590 |
Earnings per common share, basic and diluted (Note 15) (in dollars per share) | $ 0.17 | $ 0.38 |
Weighted average number of shares, basic and diluted (in shares) | 109,340,800 | 93,851,789 |
Unaudited Condensed Consolidat4
Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Net income for the period | $ 33,467 | $ 46,063 |
Other comprehensive income: | ||
Unrealized gain on cash flow hedges, net (Notes 18 and 20) | 7,646 | 5,095 |
Net settlements on interest rate swaps qualifying for cash flow hedge (Notes 10 and 20) | (5) | 0 |
Amounts reclassified from Net settlements on interest rate swaps qualifying for hedge accounting to Depreciation (Note 20) | 31 | 31 |
Other comprehensive income for the period | 7,672 | 5,126 |
Total comprehensive income for the period | $ 41,139 | $ 51,189 |
Unaudited Condensed Consolidat5
Unaudited Condensed 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, 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: | 46,063 | 46,063 | |||||||
- Issuance of common stock (Notes 3 and 14) (in shares) | 15,565,567 | ||||||||
- Issuance of common stock (Notes 3 and 14) | $ 1 | 105,037 | 105,038 | ||||||
- Issuance of common stock-expenses (Notes 3 and 14) | (312) | (312) | |||||||
- Dividends - Common stock | (18,202) | (18,202) | |||||||
- Dividends - Preferred stock | (10,532) | (10,532) | |||||||
- Other comprehensive income | 5,126 | 5,126 | |||||||
Balance (in shares) at Jun. 30, 2017 | 4,000,000 | 4,000,000 | 2,000,000 | 105,990,448 | |||||
Balance at Jun. 30, 2017 | $ 10 | 1,162,148 | (9,298) | 48,745 | 1,201,605 | ||||
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 | ||||
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: | 33,467 | 33,467 | |||||||
- Issuance of common stock (Notes 3 and 14) (in shares) | 2,173,365 | ||||||||
- Issuance of common stock (Notes 3 and 14) | 14,467 | 14,467 | |||||||
- Dividends - Common stock | (21,754) | (21,754) | |||||||
- Dividends - Preferred stock | (12,658) | (12,658) | |||||||
- Other comprehensive income | 7,672 | 7,672 | |||||||
- 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 Jun. 30, 2018 | 4,600,000 | 4,000,000 | 4,000,000 | 2,000,000 | 110,379,350 | ||||
Balance at Jun. 30, 2018 | $ 11 | $ 1,301,465 | $ 6,703 | $ 42,778 | $ 1,350,957 |
Unaudited Condensed Consolidat6
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Cash Flows From Operating Activities: | |||
Net income: | $ 33,467 | $ 46,063 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 45,963 | 48,515 | |
Amortization of debt discount | (379) | (348) | |
Amortization of prepaid lease rentals, net | 4,041 | 4,320 | |
Amortization and write-off of financing costs | 1,296 | 1,068 | |
Amortization of deferred dry-docking and special survey costs | 3,358 | 3,911 | |
Equity based payments | 2,127 | 2,078 | |
Net settlements on interest rate swaps qualifying for cash flow hedge | (5) | 0 | |
Gain on derivative instruments, net | (61) | (1,229) | |
Loss on sale / disposal of vessels, net | 861 | 3,638 | |
Loss on vessel held for sale | 0 | 2,732 | |
Equity gain on investments | (5,199) | (887) | |
Dividend from equity method investees | 0 | 60 | |
Changes in operating assets and liabilities: | |||
Accounts receivable | (5,746) | (695) | |
Due from related parties | 2,767 | (481) | |
Inventories | (4) | 1,055 | |
Insurance claims receivable | (538) | (436) | |
Prepayments and other | 323 | (93) | |
Accounts payable | 544 | 794 | |
Due to related parties | (48) | 27 | |
Accrued liabilities | (71) | (1,243) | |
Unearned revenue | (913) | (2,781) | |
Other current liabilities | (86) | (58) | |
Dry-dockings | (11,168) | (1,802) | |
Accrued charter revenue | (3,567) | (5,599) | |
Net Cash provided by Operating Activities | 66,962 | 98,609 | |
Cash Flows From Investing Activities: | |||
Equity method investments | (5,292) | (7,046) | |
Return of equity method investment | 0 | 210 | |
Proceeds from the settlement of insurance claims | 170 | 600 | |
Vessel acquisitions and advances / Additions to vessel cost | (66,253) | (54,523) | |
Proceeds from the sale of vessels, net | 6,454 | 9,942 | |
Net Cash used in Investing Activities | (64,921) | (50,817) | |
Cash Flows From Financing Activities: | |||
Offering proceeds, net of related expenses | 111,224 | 91,675 | |
Proceeds from long-term debt and capital leases | 233,000 | 41,600 | |
Repayment of long-term debt and capital leases | (381,167) | (134,756) | |
Payment of financing costs | (2,063) | (1,147) | |
Dividends paid | (22,073) | (17,762) | |
Net Cash used in Financing Activities | (61,079) | (20,390) | |
Net increase / (decrease) in cash, cash equivalents and restricted cash | (59,038) | 27,402 | |
Cash, cash equivalents and restricted cash at beginning of the period | 218,885 | 210,563 | $ 210,563 |
Cash, cash equivalents and restricted cash at end of the period | 159,847 | 237,965 | $ 218,885 |
Supplemental Cash Flow Information: | |||
Cash paid during the period for interest | 26,933 | 27,923 | |
Non-Cash Financing Activities: | |||
Dividend reinvested in common stock of the Company | $ 12,339 | $ 10,972 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and General Information | 6 Months Ended |
Jun. 30, 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 2015, 448,800 149,600 3 2016, 598,400 3 December 31, 2017, 598,400 299,200 six June 30, 2018. July 6, 2016, 14 June 30, 2018, 7,984,950 June 30, 2018, 110,379,350 June 30, 2018, 55.5% 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 June 30, 2018, 53 54 316,307 315,065 twenty TEU”), through wholly-owned subsidiaries incorporated in the Republic of Liberia. 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 June 30, 2018, 78 five Revenues for the six June 30, 2017 2018, 10% 2017 2018 A 29 % 28 % B 29 % 28 % C 16 % 11 % D 20 % 23 % Total 94 % 90 % The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and applicable rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial information. Accordingly, they do not 20 December 31, 2017, filed with the SEC on February 27, 2018. These six June 30, 2018, not December 31, 2018. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. A discussion of the Company’s significant accounting policies can be found in Note 2 20 December 31, 2017. no six June 30, 2018, Adoption of new accounting standards: Revenue from Contracts with Customers (Topic 606 January 1, 2018, No. 2014 09, 606" five five 1 two 2 3 4 5 no January 1, 2018 not In February 2018, No. 2018 03, 825 10 2016 01 2016 01. 321 10 35 2, may 820, 820. not In January 2016, No. 2016 01—Financial 825 10 not December 15, 2017 not not In August 2016, No. 2016 15—Statement 230 eight zero 2016 15 December 15, 2017, six June 30, 2017 2018, $600 $170, regarding hull and machinery and thus have been reclassified from Cash flows from operating activities to Cash flows from investing activities. During the six June 30, 2017 2018, $60 nil, In November 2016, No. 2016 18—Statement 230 230. 2016 18 December 15, 2017, January 1, 2018, Topic 230, 2016 18. For the six-month period ended June 30, 2017 2018 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents 195,023 124,392 Restricted cash – current portion 6,462 5,199 Restricted cash – non-current portion 36,480 30,256 Total cash, cash equivalents and restricted cash $ 237,965 $ 159,847 In January 2017, 2017 01 805 not not December 15, 2017, not not not In March 2018, 2018 04 320, 117. 2016 01 not New Accounting Pronouncements - Not In February 2016, No. 2016 02—Leases 842 not first December 15, 2018, first in July 2018, No. 2018 11—Leases 842 842 In June 2016, No. 2016 13—Financial 326 2016 13 December 15, 2019, In July 2017, No. 2017 11, 260 480 815 2017 11 480, not December 15, 2018. In August 2017, No. 2017 12, 815 2017 12 This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. In June 2018, 2018 07, 718 2018 07 2018 07 15 December 2018, In July 2018, 2018 10, 842 2018 10 2016 02. not 842 2016 02. |
Note 3 - Transactions With Rela
Note 3 - Transactions With Related Parties | 6 Months Ended |
Jun. 30, 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 January 1, 2015, $0.478 January 1, 2015, three $787.4 0.75% $2,500 598,400 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, The Cell also offers ship management services to third November 2, 2015, November 2, 2015, June 30, 2018, 22 Management fees charged by Costamare Shipping in the six June 30, 2017 2018, $9,387 $9,551, November 2, 2015, $1,367 six June 30, 2018 ( $1,579 six June 30, 2017), 0.75% November 2, 2015, $1,250, six June 30, 2018 ( $1,250 six June 30, 2017) $2,127 299,200 six June 30, 2018 ( $2,078 six June 30, 2017). $1,575 $1,725 $75 2018 2017 During the six June 30, 2017 2018, 8 9 $2,176 $3,592, The balance due from Costamare Shipping at December 31, 2017 June 30, 2018, $5,273 $2,506, December 31, 2017 June 30, 2018, $203 $155, (b) Shanghai Costamare Ship Management Co., Ltd.: 70% 30% not June 30, 2018, 14 14 December 31, 2017) no December 31, 2017 June 30, 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. Each vessel-owning subsidiary pays a fee of Euro13,074 December 31, 2018 Euro1,644 January 1, 2018 six June 30, 2018, $221, six June 30, 2018. |
Note 4 - Other Non-current Asse
Note 4 - Other Non-current Assets | 6 Months Ended |
Jun. 30, 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 six June 30, 2018, $379 $348 six June 30, 2017), no December 31, 2016, $46 1 $1,406. 1 2 June 30, 2018, not June 30, 2018, 1 2 no The Zim equity securities are carried at cost less impairment. No July 16, 2014. June 30, 2018, no |
Note 5 - Inventories
Note 5 - Inventories | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. Inventories of $9,662 $9,666 December 31, 2017 June 30, 2018, |
Note 6 - Vessels and Advances,
Note 6 - Vessels and Advances, Net | 6 Months Ended |
Jun. 30, 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, 2018 $ 2,595,768 $ (1,016,259 ) $ 1,579,509 Depreciation - (39,107 ) (39,107 ) Vessel acquisitions, advances and other vessels’ costs 66,253 - 66,253 Balance, June 30, 2018 $ 2,662,021 $ (1,055,366 ) $ 1,606,655 During the six June 30, 2018, two 2008 1,300 Michigan Trader In May 2018, five 12,690 five second 2020 second 2021, ten In June 2018, two 2013 4,957 Megalopolis Marathopolis July 2018 ( 21 During the year ended December 31, 2017, 2014 4,957 Leonidio Kyparissia 2005 7,471 Maersk Kowloon 2005 2,556 CMA CGM L’Etoile On June 19, 2017, two Leonidio Kyparissia 11 . During the six June 30, 2017, Marina $4,670, Romanos MSC Romanos $3,638 2017 December 29 2017, Itea 360 10 45 9, Itea December 31, 2017, $7,315, 2 $2,379, December 31, 2017. six June 30, 2018 Itea $861, which is separately reflected in Loss on sale / disposal of vessels, net in the accompanying consolidated statement of income for the six June 30, 2018. Forty- four $1,537,182 June 30, 2018, 10. seven 11 three |
Note 7 - Deferred Charges, Net
Note 7 - Deferred Charges, Net | 6 Months Ended |
Jun. 30, 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, 2018 $ 15,429 Additions 11,168 Amortization (3,358 ) Balance, June 30, 2018 $ 23,239 During the six June 30, 2018, 11 six June 30, 2017, three 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. | 6 Months Ended |
Jun. 30, 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 ( no 25% 75% May 18, 2020 May 18, 2024, On termination and on the occurrence of certain extraordinary events, Costamare Ventures may As at June 30, 2018, 25% 49% eighteen 9 |
Note 9 - Equity Method Investme
Note 9 - Equity Method Investments | 6 Months Ended |
Jun. 30, 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/Hull Participation % June 30, 2018 Date Established /Acquired Steadman Maritime Co. Ensenada 49% July 1, 2013 Marchant Maritime Co. Padma 49% July 8, 2013 Horton Maritime Co. Petalidi 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 Benedict Maritime Co. Triton 40% October 16, 2013 Bertrand Maritime Co. Titan 40% October 16, 2013 Beardmore Maritime Co. Talos 40% December 23, 2013 Schofield Maritime Co. Taurus 40% December 23, 2013 Fairbank Maritime Co. Theseus 40% December 23, 2013 Platt Maritime Co. Polar Argentina 49% May 18, 2015 Sykes Maritime Co. Polar Brasil 49% May 18, 2015 During the six June 30, 2018, $417 December 31, 2017, $1,428 During the year ended December 31, 2017, $3,449, During the year ended December 31, 2017, $498, $1,250 During the year ended December 31, 2017, $2,980, In April 2017, $44,000, Cape Artemisio May 2017. 13 December 31, 2017 $798, $1,964 During the six June 30, 2018, $4,875 December 31, 2017, $1,753, For the six June 30, 2017 2018, $887 $5,199, The summarized combined financial information of the companies accounted for as equity method investment is as follows: December 31, 2017 June 30, 2018 Non-current assets $ 1,069,449 $ 1,139,292 Current assets 62,170 74,873 Total assets $ 1,131,619 $ 1,214,165 Current liabilities $ 55,455 $ 58,578 Six-month period ended June 30, 2017 2018 Voyage revenue 55,065 76,113 Net income $ 2,721 $ 12,865 |
Note 10 - Long-term Debt
Note 10 - Long-term Debt | 6 Months Ended |
Jun. 30, 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 June 30, 2018 A. Credit Facility $ 299,837 $ - B. Term Loans: 1. Mas Shipping Co. 13,125 11,125 2. Montes Shipping Co. and Kelsen Shipping Co. 42,000 37,000 3. Costamare Inc. 25,725 22,575 4. Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. 162,983 155,343 5. Raymond Shipping Co. and Terance Shipping Co. 105,050 99,592 6. Costamare Inc. 37,697 32,267 7. Uriza Shipping S.A. 32,500 30,333 8. Costis Maritime Corporation, Christos Maritime Corporation and Capetanissa Maritime Corporation 93,000 81,000 9. Rena Maritime Corporation, Finch Shipping Co. and Joyner Carriers S.A. 24,480 22,880 10. Nerida Shipping Co. 17,175 16,275 11. Costamare Inc. - 213,677 Total Term-loans 553,735 722,067 Total long-term debt $ 853,572 $ 722,067 Less: Deferred financing costs (2,592 ) (3,684 ) Total long-term debt, net 850,980 718,383 Less: Long-term debt current portion (207,516 ) (138,875 ) Add: Deferred financing costs, current portion 1,198 1,774 Total long-term debt, non-current, net $ 644,662 $ 581,282 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, During the six June 30, 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 at June 30, 2018, $11,125 3 $1,000 August 2018 to 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 June 30, 2018, $37,000 5 $5,000 December 2018 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 June 30, 2018, $14,700 6 $1,050 July 2018 October 2019 $8,400 June 30, 2018, $7,875 7 $525 August 2018 February 2020 $4,200 June 30, 2018, . 4. August 2011, $229,200 three June 30, 2018, $101,864 Valor Valiant 8 $1,273.4 July 2018 June 2020 $40,744.8 June 30, 2018, $53,479 Vantage 10 $1,273.4 $40,744.8 August 2018 November 2020. 5. October 2011, $152,800 June 30, 2018, $49,114 Value 8 $1,364.3 September 2018 June 2020 $38,199.6 June 30, 2018, $50,478 Valence 9 $1,364.3 August 2018 August 2020 $38,199.6 6. October 2011, $120,000, eleven July 2016 $3,835 Karmen February 2017 $4,918 Marina June 30, 2018, 32,267 is repayable in 2 $2,715 September 2018 December 2018 $26,837 7. May 6, 2016, $39,000 May 11, 2016 $39,000. June 30, 2018 , the outstanding balance of $30,333 12 $1,083.3, August 2018 May 2021 $17,333.3 8. May 2008, $150,000 $75,000 Sealand New York Sealand Washington June 2006, $90,000, Cosco Beijing On August 10, 2016, $116,500 July 21, 2017, $4,000 June 26, 2018, $4,000. June 30, 2018, $81,000 12 $3,125, November 2018 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 June 30, 2018, $22,880 14 $800, September 2018 December 2021 $11,680 10. August 1, 2017, $17,625 Maersk Kowloon 6 August 3, 2017 $17,625. June 30, 2018, $16,275 17 $450, August 2018 July 2022 $8,625 11. March 7, 2018, $233,000 10.A two March 23, 2018. May 29, 2018 $4,477 Itea June 30, 2018, $213,677 12 September 2018 June 2021 $86,353 The term loans discussed above bear interest at LIBOR plus a spread and are secured by, inter alia, (a) first first may 80% 130% The annual repayments under the Term loans after June 30, 2018, Year ending December 31, Amount 2018 $ 77,997 2019 121,030 2020 313,171 2021 199,894 2022 9,975 Total $ 722,067 The interest rate of Costamare’s long-term debt as at December 31, 2017 June 30, 2018, 2.30% 5.98% 3.66% 5.94%, December 31, 2017 June 30, 2018, 4.9% 4.7%, Total interest expense incurred on long-term debt (including the effect of the hedging interest rate swaps discussed in Notes 16 18 six June 30, 2017 2018, $23,606 $16,544, 2018, $101 $96 $5 June 30, 2018. C. Financing Costs The amounts of financing costs included in the loan balances and capital lease obligations (Note 11 Financing costs Balance, January 1, 2018 $ 6,797 Additions 2,063 Amortization and write-off (1,296 ) Balance, June 30, 2018 $ 7,564 Less: Current portion of financing costs (2,624 ) Financing costs, non-current portion $ 4,940 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 | 6 Months Ended |
Jun. 30, 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, six June 30, 2017 2018, $6,269 $6,825, December 31, 2017 June 30, 2018, $36,899 $43,724, December 31, 2017 June 30, 2018, $415,665 $408,840, The balance of prepaid lease rentals, as of December 31, 2017 June 30, 2018, December 31, June 30, Prepaid lease rentals $ 60,422 $ 51,670 Less: Amortization of prepaid lease rentals (8,752 ) (4,339 ) Prepaid lease rentals $ 51,670 $ 47,331 Less: current portion (8,752 ) (8,752 ) Non-current portion $ 42,918 $ 38,579 The capital lease obligations amounting to $359,749 June 30, 2018 2024 six June 30, 2017 2018 $10,538 $11,311, MSC Athos MSC Athens not The annual lease payments under the capital leases after June 30, 2018, Year ending December 31, Amount 2018 $ 24,989 2019 49,798 2020 49,895 2021 49,798 2022 49,798 2023 and thereafter 203,541 Total $ 427,819 Less: Amount of interest ( MSC Azov MSC Ajaccio MSC Amalfi Leonidio Kyparissia (68,070 ) Total lease payments $ 359,749 Less: Financing costs, net (3,770 ) Total lease payments, net $ 355,979 The total capital lease obligations, net of related financing costs, are presented in the accompanying December 31, 2017 June 30, 2018, December 31, 2017 June 30, 2018 Capital lease obligation – current $ 33,753 $ 34,419 Less: current portion of financing costs (879 ) (850 ) Capital lease obligation – non-current 342,658 325,330 Less: non-current portion of financing costs (3,326 ) (2,920 ) Total $ 372,206 $ 355,979 |
Note 12 - Accrued Charter Reven
Note 12 - Accrued Charter Revenue, Current and Non-current and Unearned Revenue, Current and Non-current | 6 Months Ended |
Jun. 30, 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 June 30, 2018, not As at December 31, 2017, $16,435 $185 $16,620 2017 June 30, 2018, $12,868 June 30, 2018. December 31 Year ending December 31, Amount 2018 $ (4,861 ) 2019 (6,821 ) 2020 (1,186 ) Total $ (12,868 ) (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 June 30, 2018, not $323 $298 December 31, 2017 June 30, 2018 Hires collected in advance $ 5,589 $ 4,676 Deferred gain, net 4,158 3,860 Charter revenue resulting from varying charter rates 16,620 12,868 Total $ 26,367 $ 21,404 Less current portion (15,310 ) (13,687 ) Non-current portion $ 11,057 $ 7,717 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. (a) Time charters: As at June 30, 2018, June 30, 2018, 78 June 30, 2018, 365 Year ending December 31, Amount 2018 $ 156,126 2019 235,985 2020 168,986 2021 127,771 2022 95,039 2023 and thereafter 73,946 Total $ 857,853 (b) Capital Commitments: June 30, 2018, approximately $0.4 five 6 two second 6 (c) Debt guarantees with respect to entities formed under the Framework Deed: 100% Cape Kortia Cape Sounio Cape Akritas Cape Tainaro Cape Artemisio, June 30, 2018, $79,750 9 $80,075 9 $41,100 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 | 6 Months Ended |
Jun. 30, 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 six June 30, 2018, 299,200 $0.0001 3 no six June 30, 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 six June 30, 2018, 1,874,165 $0.0001 $6.5839 On May 31, 2017, 13,500,000 $0.0001 $7.10 105,840,848 $91,675. As at June 30, 2018, 110,379,350 (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 six June 30, 2017, $0.10 $3,619 1,014,550 fourth 2016 $3,610 751,817 first 2017. During the six June 30, 2018, $0.10 $4,583 988,841 fourth 2017 $4,833 885,324 first 2018 . During the six June 30, 2017, $953 $0.476563 October 15, 2016 January 14, 2017 $953 $0.476563 January 15, 2017 April 14, 2017 . During the six June 30, 2018, $953 $0.476563 October 15, 2017 January 14, 2018 $953 $0.476563 January 15, 2018 April 14, 2018. During the six June 30, 2017, $2,125 $0.531250 October 15, 2016 January 14, 2017 $2,125 $0.531250 January 15, 2017 April 14, 2017 . During the six June 30, 2018, $2,125 $0.531250 October 15, 2017 January 14, 2018 $2,125 $0.531250 January 15, 2018 April 14, 2018. During the six June 30, 2017, $2,188 $0.546875 October 15, 2016 January 14, 2017 $2,188 $0.546875 January 15, 2017 April 14, 2017 . During the six June 30, 2018, $2,188 $0.546875 October 15, 2017 January 14, 2018 $2,188 $0.546875 January 15, 2018 April 14, 2018. During the six June 30, 2018, $2,126 $0.462240 per share for the period from January 30, 2018 April 14, 2018. |
Note 15 - Earnings Per Share (E
Note 15 - Earnings Per Share (EPS) | 6 Months Ended |
Jun. 30, 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 six June 30, 2017 2018, $10,473 $14,782, Six-month period ended June 30, 2017 2018 Basic EPS Basic EPS Net income $ 46,063 $ 33,467 Less: paid and accrued earnings allocated to Preferred Stock (10,473 ) (14,782 ) Net income available to common stockholders 35,590 18,685 Weighted average number of common shares, basic and diluted 93,851,789 109,340,800 Earnings per common share, basic and diluted $ 0.38 $ 0.17 |
Note 16 - Interest and Finance
Note 16 - Interest and Finance Costs | 6 Months Ended |
Jun. 30, 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: Six-month period ended June 30, 2017 2018 Interest expense $ 27,685 $ 26,956 Interest capitalized - (101 ) Swap effect 6,459 1,000 Amortization and write-off of financing costs 1,068 1,296 Bank charges and other financing costs 126 227 Total $ 35,338 $ 29,378 |
Note 17 - Taxes
Note 17 - Taxes | 6 Months Ended |
Jun. 30, 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 | 6 Months Ended |
Jun. 30, 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 June 30, 2018, $656,096 $328,440, December 31, 2017 June 30, 2018 $2,031 $9,585, April 2020 May 2023. During the six June 30, 2018, three $1,234 six June 30, 2018. The estimated net amount that is expected to be reclassified within the next 12 $2,921. (b) Interest rate swaps that do not December 31, 2017 June 30, 2018, $89,752 $84,705, not December 31, 2017 June 30, 2018 $980 $128, August 2018 August 2020. (c) Foreign currency agreements: June 30, 2018, three $6,000 1.206 September 2018. As of December 31, 2017, two $4,000 1.1682 February 2018. The total change of forward contracts fair value for the six June 30, 2018, $294 $501 six June 30, 2017) The Effect of Derivative Instruments for the six-month period ended June 30, 2017 and 2018 Derivatives in ASC 815 Cash Flow Hedging Relationships Amount of Gain / (Loss) Derivative (Effective Portion) Location of Gain / (Loss) Amount of Gain / (Loss) Recognized in Income on Derivative (Ineffective Portion) 2017 2018 2017 2018 Interest rate swaps $ (1,364 ) $ 6,646 Loss on derivative instruments, net $ - $ - Reclassification to Interest and finance costs 6,459 1,000 - - Total $ 5,095 $ 7,646 $ - $ - 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 2017 2018 Non hedging interest rate swaps Loss on derivative instruments, net $ (897 ) $ 41 Forward contracts Loss on derivative instruments, net 501 (294 ) Total $ (396 ) $ (253 ) The realized loss on non-hedging interest rate swaps included in “ ” amounted to $1,625 $314 six June 30, 2017 2018, |
Note 19 - Financial Instruments
Note 19 - Financial Instruments | 6 Months Ended |
Jun. 30, 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: 18 2 The fair value of the interest rate swap agreements discussed in Note 18 December 31, 2017 June 30, 2018, $1,051 $9,712, The fair value of the forward contracts discussed in Note 18 2 December 31, 2017 June 30, 2018, $112 $182, 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 $ - June 30, 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 $ 9,712 $ - $ 9,712 $ - Forward contracts -liability position (182 ) - (182 ) - Total $ 9,530 $ - $ 9,530 $ - |
Note 20 - Comprehensive Income
Note 20 - Comprehensive Income | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 20. During the six June 30, 2017, $5,126 $1,364 $6,459 $31 During the six June 30, 2018, $7,672 $6,646 $1,000 $5 $31 As at June 30, 2017 2018, $51,189 $41,139, 12 2,921 |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 21. (a) Declaration and Payment of Dividends (common stock): July 2, 2018 June 30, 2018, $0.10 August 8, 2018 July 23, 2018 (b) Declaration and Payment of Dividends (preferred stock Series B, Series C, Series D and Series E): July 2, 2018 $0.476563 $0.531250 $0.546875 $0.554688 July 16, 2018 July 13, 2018 (c) New acquisitions: July 12, 2018 July 30, 2018 2013 4,957 , Megalopolis Marathopolis, 6 (d) New Loan Agreement: July 17, 2018, $48,000 Megalopolis Marathopolis 6 21 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of new accounting standards: Revenue from Contracts with Customers (Topic 606 January 1, 2018, No. 2014 09, 606" five five 1 two 2 3 4 5 no January 1, 2018 not In February 2018, No. 2018 03, 825 10 2016 01 2016 01. 321 10 35 2, may 820, 820. not In January 2016, No. 2016 01—Financial 825 10 not December 15, 2017 not not In August 2016, No. 2016 15—Statement 230 eight zero 2016 15 December 15, 2017, six June 30, 2017 2018, $600 $170, regarding hull and machinery and thus have been reclassified from Cash flows from operating activities to Cash flows from investing activities. During the six June 30, 2017 2018, $60 nil, In November 2016, No. 2016 18—Statement 230 230. 2016 18 December 15, 2017, January 1, 2018, Topic 230, 2016 18. For the six-month period ended June 30, 2017 2018 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents 195,023 124,392 Restricted cash – current portion 6,462 5,199 Restricted cash – non-current portion 36,480 30,256 Total cash, cash equivalents and restricted cash $ 237,965 $ 159,847 In January 2017, 2017 01 805 not not December 15, 2017, not not not In March 2018, 2018 04 320, 117. 2016 01 not New Accounting Pronouncements - Not In February 2016, No. 2016 02—Leases 842 not first December 15, 2018, first in July 2018, No. 2018 11—Leases 842 842 In June 2016, No. 2016 13—Financial 326 2016 13 December 15, 2019, In July 2017, No. 2017 11, 260 480 815 2017 11 480, not December 15, 2018. In August 2017, No. 2017 12, 815 2017 12 This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. In June 2018, 2018 07, 718 2018 07 2018 07 15 December 2018, In July 2018, 2018 10, 842 2018 10 2016 02. not 842 2016 02. |
Note 1 - Basis of Presentatio29
Note 1 - Basis of Presentation and General Information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | 2017 2018 A 29 % 28 % B 29 % 28 % C 16 % 11 % D 20 % 23 % Total 94 % 90 % |
Note 2 - Significant Accounti30
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | For the six-month period ended June 30, 2017 2018 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents 195,023 124,392 Restricted cash – current portion 6,462 5,199 Restricted cash – non-current portion 36,480 30,256 Total cash, cash equivalents and restricted cash $ 237,965 $ 159,847 |
Note 6 - Vessels and Advances31
Note 6 - Vessels and Advances, Net (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule Vessels and advances, net [text block] | Vessel Cost Accumulated Depreciation Net Book Value Balance, January 1, 2018 $ 2,595,768 $ (1,016,259 ) $ 1,579,509 Depreciation - (39,107 ) (39,107 ) Vessel acquisitions, advances and other vessels’ costs 66,253 - 66,253 Balance, June 30, 2018 $ 2,662,021 $ (1,055,366 ) $ 1,606,655 |
Note 7 - Deferred Charges, Net
Note 7 - Deferred Charges, Net (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Deferred Charges [Table Text Block] | Dry-docking and Special Survey Costs Balance, January 1, 2018 $ 15,429 Additions 11,168 Amortization (3,358 ) Balance, June 30, 2018 $ 23,239 |
Note 9 - Equity Method Invest33
Note 9 - Equity Method Investments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Entity Vessel/Hull Participation % June 30, 2018 Date Established /Acquired Steadman Maritime Co. Ensenada 49% July 1, 2013 Marchant Maritime Co. Padma 49% July 8, 2013 Horton Maritime Co. Petalidi 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 Benedict Maritime Co. Triton 40% October 16, 2013 Bertrand Maritime Co. Titan 40% October 16, 2013 Beardmore Maritime Co. Talos 40% December 23, 2013 Schofield Maritime Co. Taurus 40% December 23, 2013 Fairbank Maritime Co. Theseus 40% December 23, 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 June 30, 2018 Non-current assets $ 1,069,449 $ 1,139,292 Current assets 62,170 74,873 Total assets $ 1,131,619 $ 1,214,165 Current liabilities $ 55,455 $ 58,578 Six-month period ended June 30, 2017 2018 Voyage revenue 55,065 76,113 Net income $ 2,721 $ 12,865 |
Note 10 - Long-term Debt (Table
Note 10 - Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Borrower(s) December 31, 2017 June 30, 2018 A. Credit Facility $ 299,837 $ - B. Term Loans: 1. Mas Shipping Co. 13,125 11,125 2. Montes Shipping Co. and Kelsen Shipping Co. 42,000 37,000 3. Costamare Inc. 25,725 22,575 4. Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. 162,983 155,343 5. Raymond Shipping Co. and Terance Shipping Co. 105,050 99,592 6. Costamare Inc. 37,697 32,267 7. Uriza Shipping S.A. 32,500 30,333 8. Costis Maritime Corporation, Christos Maritime Corporation and Capetanissa Maritime Corporation 93,000 81,000 9. Rena Maritime Corporation, Finch Shipping Co. and Joyner Carriers S.A. 24,480 22,880 10. Nerida Shipping Co. 17,175 16,275 11. Costamare Inc. - 213,677 Total Term-loans 553,735 722,067 Total long-term debt $ 853,572 $ 722,067 Less: Deferred financing costs (2,592 ) (3,684 ) Total long-term debt, net 850,980 718,383 Less: Long-term debt current portion (207,516 ) (138,875 ) Add: Deferred financing costs, current portion 1,198 1,774 Total long-term debt, non-current, net $ 644,662 $ 581,282 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year ending December 31, Amount 2018 $ 77,997 2019 121,030 2020 313,171 2021 199,894 2022 9,975 Total $ 722,067 |
Schedule of Financing Costs [Table Text Block] | Financing costs Balance, January 1, 2018 $ 6,797 Additions 2,063 Amortization and write-off (1,296 ) Balance, June 30, 2018 $ 7,564 Less: Current portion of financing costs (2,624 ) Financing costs, non-current portion $ 4,940 |
Note 11 - Capital Leased Asse35
Note 11 - Capital Leased Assets and Capital Lease Obligations (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Prepaid Lease Rentals [Table Text Block] | December 31, June 30, Prepaid lease rentals $ 60,422 $ 51,670 Less: Amortization of prepaid lease rentals (8,752 ) (4,339 ) Prepaid lease rentals $ 51,670 $ 47,331 Less: current portion (8,752 ) (8,752 ) Non-current portion $ 42,918 $ 38,579 |
Finance Lease Obligations [Table Text Block] | Year ending December 31, Amount 2018 $ 24,989 2019 49,798 2020 49,895 2021 49,798 2022 49,798 2023 and thereafter 203,541 Total $ 427,819 Less: Amount of interest ( MSC Azov MSC Ajaccio MSC Amalfi Leonidio Kyparissia (68,070 ) Total lease payments $ 359,749 Less: Financing costs, net (3,770 ) Total lease payments, net $ 355,979 |
Finance Lease Obligations Current and Non-Current [Table Text Block] | December 31, 2017 June 30, 2018 Capital lease obligation – current $ 33,753 $ 34,419 Less: current portion of financing costs (879 ) (850 ) Capital lease obligation – non-current 342,658 325,330 Less: non-current portion of financing costs (3,326 ) (2,920 ) Total $ 372,206 $ 355,979 |
Note 12 - Accrued Charter Rev36
Note 12 - Accrued Charter Revenue, Current and Non-current and Unearned Revenue, Current and Non-current (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Unbilled Receivables, Not Billable at Balance Sheet Date [Table Text Block] | Year ending December 31, Amount 2018 $ (4,861 ) 2019 (6,821 ) 2020 (1,186 ) Total $ (12,868 ) |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | December 31, 2017 June 30, 2018 Hires collected in advance $ 5,589 $ 4,676 Deferred gain, net 4,158 3,860 Charter revenue resulting from varying charter rates 16,620 12,868 Total $ 26,367 $ 21,404 Less current portion (15,310 ) (13,687 ) Non-current portion $ 11,057 $ 7,717 |
Note 13 - Commitments and Con37
Note 13 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Non Cancelable Long-Term Time Charter Contracts [Table Text Block] | Year ending December 31, Amount 2018 $ 156,126 2019 235,985 2020 168,986 2021 127,771 2022 95,039 2023 and thereafter 73,946 Total $ 857,853 |
Note 15 - Earnings Per Share 38
Note 15 - Earnings Per Share (EPS) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Six-month period ended June 30, 2017 2018 Basic EPS Basic EPS Net income $ 46,063 $ 33,467 Less: paid and accrued earnings allocated to Preferred Stock (10,473 ) (14,782 ) Net income available to common stockholders 35,590 18,685 Weighted average number of common shares, basic and diluted 93,851,789 109,340,800 Earnings per common share, basic and diluted $ 0.38 $ 0.17 |
Note 16 - Interest and Financ39
Note 16 - Interest and Finance Costs (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Interest Finance Costs [Table Text Block] | Six-month period ended June 30, 2017 2018 Interest expense $ 27,685 $ 26,956 Interest capitalized - (101 ) Swap effect 6,459 1,000 Amortization and write-off of financing costs 1,068 1,296 Bank charges and other financing costs 126 227 Total $ 35,338 $ 29,378 |
Note 18 - Derivatives (Tables)
Note 18 - Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Derivatives In ASC 815 Cash Flow Hedging Relationships [Table Text Block] | The Effect of Derivative Instruments for the six-month period ended June 30, 2017 and 2018 Derivatives in ASC 815 Cash Flow Hedging Relationships Amount of Gain / (Loss) Derivative (Effective Portion) Location of Gain / (Loss) Amount of Gain / (Loss) Recognized in Income on Derivative (Ineffective Portion) 2017 2018 2017 2018 Interest rate swaps $ (1,364 ) $ 6,646 Loss on derivative instruments, net $ - $ - Reclassification to Interest and finance costs 6,459 1,000 - - Total $ 5,095 $ 7,646 $ - $ - |
Schedule of Derivatives Not Designated as Hedging Instruments under ASC 815 [Table Text Block] | 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 2017 2018 Non hedging interest rate swaps Loss on derivative instruments, net $ (897 ) $ 41 Forward contracts Loss on derivative instruments, net 501 (294 ) Total $ (396 ) $ (253 ) |
Note 19 - Financial Instrumen41
Note 19 - Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 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 $ - June 30, 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 $ 9,712 $ - $ 9,712 $ - Forward contracts -liability position (182 ) - (182 ) - Total $ 9,530 $ - $ 9,530 $ - |
Note 1 - Basis of Presentatio42
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 | Jun. 30, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares | Dec. 31, 2016$ / sharesshares | Dec. 31, 2015shares | Jun. 30, 2018$ / sharesshares |
Common Stock, Shares, Outstanding, Ending Balance | shares | 105,840,848 | 110,379,350 | 110,379,350 | ||||||||||
Number of Vessels | 54 | 53 | 54 | ||||||||||
Carrying Capacity of Vessels at Period End (TEU) | 315,065 | 316,307 | 315,065 | ||||||||||
Number of Subsidiaries | 78 | 78 | |||||||||||
MARSHALL ISLANDS | |||||||||||||
Number of Subsidiaries | 5 | 5 | |||||||||||
Konstantakopoulos Family [Member] | |||||||||||||
Percentage Ownership | 55.50% | 55.50% | |||||||||||
Common Stock Issued to Costamare Shipping Company S.A. [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 448,800 | ||||||||||||
Common Stock Issued to Costamare Shipping Services Ltd. [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 299,200 | 598,400 | 598,400 | 149,600 | |||||||||
Common Stock Issued for Dividend Reinvestment Plan [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 1,874,165 | 3,682,704 | 2,428,081 | 7,984,950 | |||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||
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 1 - Basis of Presentatio43
Note 1 - Basis of Presentation and General Information - Revenues from Significant Charterers (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member] | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Concentration risk percentage | 90.00% | 94.00% |
Major Customer A [Member] | ||
Concentration risk percentage | 28.00% | 29.00% |
Major Customer B [Member] | ||
Concentration risk percentage | 28.00% | 29.00% |
Major Customer C [Member] | ||
Concentration risk percentage | 11.00% | 16.00% |
Major Customer D [Member | ||
Concentration risk percentage | 23.00% | 20.00% |
Note 2 - Significant Accounti44
Note 2 - Significant Accounting Policies and Recent Accounting Pronouncements (Details Textual) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Proceeds from Settlements of Insurance Claims Regarding Hull and Machinery Reclassified from Cash Flows from Operating activities to Investing Activities [Member] | |
Current Period Reclassification Adjustment | $ 170 |
Proceeds from Settlements of Insurance Claims Regarding Hull and Machinery Reclassified from Cash Flows from Operating activities to Investing Activities [Member] | Six Months Ended June 30, 2017 [Member] | |
Prior Period Reclassification Adjustment | 600 |
Return on Investment from Equity Method Investees Reclassified from Cash Flows from Investing Activities to Operating Activities [Member] | |
Current Period Reclassification Adjustment | 0 |
Return on Investment from Equity Method Investees Reclassified from Cash Flows from Investing Activities to Operating Activities [Member] | Six Months Ended June 30, 2017 [Member] | |
Prior Period Reclassification Adjustment | $ 60 |
Note 2 - Significant Accounti45
Note 2 - Significant Accounting Polices and Recent Accounting Pronouncements - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 |
Cash and cash equivalents | $ 124,392 | $ 178,986 | $ 195,023 |
Restricted cash – current portion | 5,199 | 7,238 | 6,462 |
Restricted cash – non-current portion | 30,256 | $ 32,661 | 36,480 |
Total cash, cash equivalents and restricted cash | $ 159,847 | $ 237,965 |
Note 3 - Transactions With Re46
Note 3 - Transactions With Related Parties (Details Textual) | Jan. 01, 2018EUR (€) | Jun. 30, 2018USD ($)shares | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) |
Management Fees Related Parties | $ 9,551,000 | $ 9,387,000 | ||
Voyage Expenses Related Parties | 1,588,000 | 1,579,000 | ||
Due from Related Parties, Current, Total | 2,506,000 | $ 5,273,000 | ||
Due to Related Parties, Current, Total | 155,000 | 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% | |||
Annual Fee to Related Parties | $ 2,500,000 | |||
Annual Fee to Related Parties, Shares | shares | 598,400 | |||
Number of Vessels Under Ship Management Cell | 22 | |||
Management Fees Related Parties | $ 9,551,000 | 9,387,000 | ||
Voyage Expenses Related Parties | $ 1,367,000 | 1,579,000 | ||
Management Fees Expressed as Gross Revenue | 0.75% | |||
Fair Value of Shares Issued to Manager | $ 2,127,000 | 2,078,000 | ||
Stock Issued During Period, Shares, New Issues | shares | 299,200 | |||
Working Capital Security | $ 1,575,000 | 1,725,000 | ||
Working Capital Security Per Vessel | 75,000 | |||
Total Charges by Manager to Companys Affiliates | 3,592,000 | 2,176,000 | ||
Due from Related Parties, Current, Total | 2,506,000 | 5,273,000 | ||
Due to Related Parties, Current, Total | 155,000 | 203,000 | ||
Costamare Shipping Company SA and Costamare Shipping Services Ltd. [Member] | General and Administrative Expense [Member] | ||||
Officers Compensation Charged, Period End | $ 1,250,000 | $ 1,250,000 | ||
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 | 14 | 14 | ||
Blue Net Chartering GmbH & Co. KG [Member] | ||||
Annual Fee to Related Parties | € | € 13,074 | |||
Voyage Expenses Related Parties | $ 221,000 | |||
Percentage Ownership | 50.00% | |||
Fees To Related Parties for the Duration of their Charter | € | € 1,644 |
Note 4 - Other Non-current As47
Note 4 - Other Non-current Assets (Details Textual) - USD ($) $ in Thousands | Jul. 16, 2014 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2014 | Dec. 31, 2016 | Jun. 30, 2018 |
Amortization of Debt Discount (Premium) | $ (379) | $ (348) | ||||
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 | |||||
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) | 379 | $ 348 | ||||
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 | Jun. 30, 2018 | Dec. 31, 2017 |
Inventory, Net, Total | $ 9,666 | $ 9,662 |
Note 6 - Vessels and Advances49
Note 6 - Vessels and Advances, Net (Details Textual) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |
May 31, 2018 | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Number of Vessels Ordered | 5 | |||
Number of Vessels Agreed to Purchase | 2 | |||
Gain (Loss) on Sale Vessels | $ (861,000) | $ (3,638,000) | ||
Vessel Held For Sale | 0 | $ 7,315,000 | ||
Gain (Loss) on Assets Held for Sale | $ 0 | (2,732,000) | ||
Number of Vessels Provided as Collaterals to Secure Loans | 44 | |||
Carrying Value of Vessels Provided as Collaterals to Secure Loans | $ 1,537,182 | |||
Number of Vessels Under Sale and Leaseback Transactions | 7 | |||
Number of Unencumbered Vessels | 3 | |||
Sale of Marina and Romanos [Member] | ||||
Gain (Loss) on Sale Vessels | (3,638,000) | |||
Michigan and Trader Vessels [member] | ||||
Number of Vessels Acquired | 2 | |||
Twenty-foot Equivalet Units Measured on Each Vessel Acquired | 1,300 | |||
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 | |||
Megalopolis and the Marathopolis Vessels [Member] | ||||
Number of Vessels Agreed to Purchase | 2 | |||
Twenty-foot Equivalet Units Measured on Each Vessel Agreed to Purchase | 4,957 | |||
Leonidio Vessel [Member] | ||||
Twenty-foot Equivalet Units Measured on Each Vessel Acquired | 4,957 | |||
Maersk Kowloon Vessel [Member] | ||||
Twenty-foot Equivalet Units Measured on Each Vessel Acquired | 7,471 | |||
CMA CGM L’Etoile Vessel [Member] | ||||
Twenty-foot Equivalet Units Measured on Each Vessel Acquired | 2,556 | |||
Marina Vessel [Member] | ||||
Vessels, Disposal Price | $ 4,670,000 | |||
Itea Vessel [Member] | ||||
Gain (Loss) on Sale Vessels | $ (861,000) | |||
Vessel Held For Sale | $ 7,315,000 | |||
Gain (Loss) on Assets Held for Sale | $ (2,379,000) | |||
Kyparissia Vessel [Member] | ||||
Twenty-foot Equivalet Units Measured on Each Vessel Acquired | 4,957 |
Note 6 - Vessels and Advances50
Note 6 - Vessels and Advances, Net - Summary of Vessels (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Balance, Vessel Cost at beginning of the period | $ 2,595,768 |
Balance, Accumulated Depreciation at beginning of the period | (1,016,259) |
Balance, Net Book Value at beginning of the period | 1,579,509 |
Depreciation | (39,107) |
Depreciation | (39,107) |
Vessel acquisitions, advances and other vessels’ costs | 66,253 |
Vessel acquisitions, advances and other vessels’ costs | 66,253 |
Balance, Vessel Cost at end of the period | 2,662,021 |
Balance, Accumulated Depreciation at end of the period | (1,055,366) |
Balance, Net Book Value at end of the period | $ 1,606,655 |
Note 7 - Deferred Charges, Ne51
Note 7 - Deferred Charges, Net (Details Textual) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Number Vessels Underwent DD During Period | 11 | 3 |
Number of Vessels Completed DD During Period | 11 | 3 |
Note 7 - Deferred Charges, Ne52
Note 7 - Deferred Charges, Net - Schedule of Deferred Charges, Net (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Balance, at beginning of the period | $ 15,429 |
Additions | 11,168 |
Amortization | (3,358) |
Balance, at end of the period | $ 23,239 |
Note 8 - Costamare Ventures I53
Note 8 - Costamare Ventures Inc. (Details Textual) | 6 Months Ended |
Jun. 30, 2018 | |
Number of Jointly Owned Companies | 18 |
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 Invest54
Note 9 - Equity Method Investments (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Apr. 30, 2017 | |
Income (Loss) from Equity Method Investments, Total | $ 5,199 | $ 887 | ||
Skerrett Maritime Co. [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 41,100 | $ 44,000 | ||
Steadman Maritime Co., Horton Maritime Co. and Marchant Maritime Co. [Member] | Costamare Ventures [Member] | ||||
Payments to Acquire Equity Method Investments | 417 | $ 1,428 | ||
Kemp Maritime Co. and Hyde Maritime Co. [Member] | Costamare Ventures [Member] | ||||
Payments to Acquire Equity Method Investments | 3,449 | |||
Ainsley Maritime Co. and Ambrose Maritime Co. [Member] | Costamare Ventures [Member] | ||||
Payments to Acquire Equity Method Investments | 498 | |||
Proceeds from Dividends Received | 1,250 | |||
Benedict, Bertrand, Beardmore, Schofield, and Fairbank Maritime Co. [Member] | ||||
Proceeds from Dividends Received | 2,980 | |||
Geyer Maritime Co. [Member] | Costamare Ventures [Member] | ||||
Payments to Acquire Equity Method Investments | 798 | |||
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 Invest55
Note 9 - Equity Method Investments - Companies Accounted for as Equity Method Investments (Details) | 6 Months Ended |
Jun. 30, 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 | Padma |
Participation percentage | 49.00% |
Date of establishment | Jul. 8, 2013 |
Horton Maritime Co. [Member] | |
Vessel name or hull name | Petalidi |
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 |
Benedict Maritime Co. [Member] | |
Vessel name or hull name | Triton |
Participation percentage | 40.00% |
Date of establishment | Oct. 16, 2013 |
Bertrand Maritime Co. [Member] | |
Vessel name or hull name | Titan |
Participation percentage | 40.00% |
Date of establishment | Oct. 16, 2013 |
Beardmore Maritime Co. [Member] | |
Vessel name or hull name | Talos |
Participation percentage | 40.00% |
Date of establishment | Dec. 23, 2013 |
Schofield Maritime Co. [Member] | |
Vessel name or hull name | Taurus |
Participation percentage | 40.00% |
Date of establishment | Dec. 23, 2013 |
Fairbank Maritime Co. [Member] | |
Vessel name or hull name | Theseus |
Participation percentage | 40.00% |
Date of establishment | Dec. 23, 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 Invest56
Note 9 - Equity Method Investments - Summarized Financial Information on Equity Method Investments (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Non-current assets | $ 1,139,292 | $ 1,069,449 | |
Current assets | 74,873 | 62,170 | |
Total assets | 1,214,165 | 1,131,619 | |
Current liabilities | 58,578 | $ 55,455 | |
Voyage revenue | 76,113 | $ 55,065 | |
Net income | $ 12,865 | $ 2,721 |
Note 10 - Long-term Debt (Detai
Note 10 - Long-term Debt (Details Textual) - USD ($) | Jun. 26, 2018 | May 29, 2018 | Sep. 14, 2017 | Aug. 16, 2017 | Aug. 03, 2017 | Jul. 21, 2017 | Jun. 19, 2017 | Feb. 28, 2018 | Feb. 28, 2017 | Jul. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | 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 | $ 722,067,000 | $ 853,572,000 | |||||||||||||||||||||||||||
Long-term Debt, Weighted Average Interest Rate, at Point in Time | 4.70% | 4.90% | |||||||||||||||||||||||||||
Interest Expense, Debt, Total | $ 16,544,000 | $ 23,606,000 | |||||||||||||||||||||||||||
Interest Costs Capitalized | 101,000 | ||||||||||||||||||||||||||||
Net Settlements on Interest Rate Swaps Qualifying for Cash Flow Hedge [Member] | |||||||||||||||||||||||||||||
Interest Costs Capitalized | 5,000 | ||||||||||||||||||||||||||||
Advances for Vessel Acquisitions [Member] | |||||||||||||||||||||||||||||
Interest Costs Capitalized | $ 96,000 | ||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||
Term Loan, Value Maintenance Clauses | 80.00% | ||||||||||||||||||||||||||||
Debt Instrument, Interest Rate During Period | 3.66% | 2.30% | |||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||
Term Loan, Value Maintenance Clauses | 130.00% | ||||||||||||||||||||||||||||
Debt Instrument, Interest Rate During Period | 5.94% | 5.98% | |||||||||||||||||||||||||||
Loans Payable [Member] | |||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 722,067,000 | $ 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 | 11,125,000 | 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 | 37,000,000 | 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 | 22,575,000 | 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 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | 14,700,000 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,050,000 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 8,400,000 | ||||||||||||||||||||||||||||
Loans Payable [Member] | Tranche C Term Loan [Member] | |||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 21,000,000 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | 7,875,000 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 525,000 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 4,200,000 | ||||||||||||||||||||||||||||
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] | Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. [Member] | |||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 229,200,000 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | 155,343,000 | 162,983,000 | |||||||||||||||||||||||||||
Loans Payable [Member] | Undine, Quentin and Sander Shipping Co. Tranche A and B [Member] | |||||||||||||||||||||||||||||
Long-term Debt, Gross | 101,864,000 | ||||||||||||||||||||||||||||
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 | 53,479,000 | ||||||||||||||||||||||||||||
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 | 99,592,000 | 105,050,000 | |||||||||||||||||||||||||||
Loans Payable [Member] | Raymond Shipping Co. and Terance Shipping Co. Term Loans Tranche A [Member] | |||||||||||||||||||||||||||||
Long-term Debt, Gross | 49,114,000 | ||||||||||||||||||||||||||||
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] | |||||||||||||||||||||||||||||
Long-term Debt, Gross | 50,478,000 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 1,364,300 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 38,199,600 | ||||||||||||||||||||||||||||
Loans Payable [Member] | Uriza Shipping Co. Term Loan [Member] | |||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 39,000,000 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | 30,333,000 | 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 | 81,000,000 | 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 | 22,880,000 | 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 | 16,275,000 | 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 | 213,677,000 | $ 0 | |||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 86,353,000 | ||||||||||||||||||||||||||||
Loan Facility to Finance Vessels in Fleet [Member] | |||||||||||||||||||||||||||||
Debt Instrument, Prepaid Payment on Principal | $ 4,918,000 | $ 3,835,000 | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 120,000,000 | ||||||||||||||||||||||||||||
Long-term Debt, Gross | 32,267,000 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 2,715,000 | ||||||||||||||||||||||||||||
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid | 26,837,000 | ||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||
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 ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 22, 2016 | Aug. 10, 2016 | Jan. 27, 2016 |
Long-term debt | $ 722,067,000 | $ 853,572,000 | |||
Less: Deferred financing costs | (3,684,000) | (2,592,000) | |||
Total long-term debt, net | 718,383,000 | 850,980,000 | |||
Less: Long-term debt current portion | (138,875,000) | (207,516,000) | |||
Add: Deferred financing costs, current portion | 1,774,000 | 1,198,000 | |||
Total long-term debt, non-current, net | 581,282,000 | 644,662,000 | |||
Credit Facility [Member] | |||||
Long-term debt | 0 | 299,837,000 | |||
Loans Payable [Member] | |||||
Long-term debt | 722,067,000 | 553,735,000 | |||
Loans Payable [Member] | Mas Shipping Co. Term Loan [Member] | |||||
Long-term debt | 11,125,000 | 13,125,000 | |||
Loans Payable [Member] | Montes Shipping Co. and Kelsen Shipping Co. Term Loans [Member] | |||||
Long-term debt | 37,000,000 | 42,000,000 | $ 66,000,000 | ||
Loans Payable [Member] | Costamares Inc. Term Loans [Member] | |||||
Long-term debt | 22,575,000 | 25,725,000 | |||
Loans Payable [Member] | Undine Shipping Co., Quentin Shipping Co. and Sander Shipping Co. [Member] | |||||
Long-term debt | 155,343,000 | 162,983,000 | |||
Loans Payable [Member] | Raymond Shipping Co. and Terance Shipping Co. Term Loans [Member] | |||||
Long-term debt | 99,592,000 | 105,050,000 | |||
Loans Payable [Member] | Costamare Inc. Term Loan 2 [Member] | |||||
Long-term debt | 32,267,000 | 37,697,000 | |||
Loans Payable [Member] | Uriza Shipping Co. Term Loan [Member] | |||||
Long-term debt | 30,333,000 | 32,500,000 | |||
Loans Payable [Member] | Costis Maritime Co., Christos Maritime Co. and Capetanissa Maritime Co. [Member] | |||||
Long-term debt | 81,000,000 | 93,000,000 | $ 116,500,000 | ||
Loans Payable [Member] | Rena Maritime Co., Finch Shipping Co. and Joyner Carriers S.A. [Member] | |||||
Long-term debt | 22,880,000 | 24,480,000 | $ 37,500,000 | ||
Loans Payable [Member] | Nerida Shipping Company Term Loan [Member] | |||||
Long-term debt | 16,275,000 | 17,175,000 | |||
Loans Payable [Member] | Loan Agreement to Refinance Credit Facility [Member] | |||||
Long-term debt | $ 213,677,000 | $ 0 |
Note 10 - Long-term Debt - Annu
Note 10 - Long-term Debt - Annual Repayments Under Credit Facilities and Term Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Annual repayment for 2018 | $ 77,997 | |
Annual repayment for 2019 | 121,030 | |
Annual repayment for 2020 | 313,171 | |
Annual repayment for 2021 | 199,894 | |
Annual repayment for 2022 | 9,975 | |
Total | $ 722,067 | $ 853,572 |
Note 10 - Long-term Debt - Fina
Note 10 - Long-term Debt - Financing Costs Included in Loan Balances (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Balance, at beginning of the period | $ 6,797 |
Additions | 2,063 |
Amortization and write-off | (1,296) |
Balance, at end of the period | 7,564 |
Less: Current portion of financing costs | (2,624) |
Financing costs, non-current portion | $ 4,940 |
Note 11 - Capital Leased Asse61
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 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Additions To Capital Leased Assets | $ 452,564 | ||||||
Amortization of Leased Asset | 6,825 | $ 6,269 | |||||
Sale Leaseback Transaction, Accumulated Depreciation | 43,724 | $ 36,899 | |||||
Finance Leased Assets, Net | 408,840 | $ 415,665 | |||||
Capital Leases, Future Minimum Payments, Net Minimum Payments, Total | 359,749 | ||||||
Capital Leases, Income Statement, Interest Expense | $ 11,311 | $ 10,538 | |||||
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 Asse62
Note 11 - Capital Leased Assets and Capital Lease Obligations - Schedule of Prepaid Lease Rentals (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Prepaid lease rentals | $ 51,670 | $ 60,422 |
Less: Amortization of prepaid lease rentals | (4,339) | (8,752) |
Prepaid lease rentals | 47,331 | 51,670 |
Less: current portion | (8,752) | (8,752) |
Non-current portion | $ 38,579 | $ 42,918 |
Note 11 - Capital Leased Asse63
Note 11 - Capital Leased Assets and Capital Lease Obligations - Annual Lease Payments (Details) $ in Thousands | Jun. 30, 2018USD ($) |
Capital lease payments 2018 | $ 24,989 |
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 and thereafter | 203,541 |
Capital lease payments Total | 427,819 |
Less: Amount of interest (MSC Azov, MSC Ajaccio, MSC Amalfi, Leonidio and Kyparissia) | (68,070) |
Total lease payments | 359,749 |
Less: Financing costs, net | (3,770) |
Total lease payments, net | $ 355,979 |
Note 11 - Capital Leased Asse64
Note 11 - Capital Leased Assets and Capital Lease Obligations - Capital Lease Obligations (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Capital lease obligation – current | $ 34,419 | $ 33,753 |
Less: current portion of financing costs | (850) | (879) |
Capital lease obligation – non-current | 325,330 | 342,658 |
Less: non-current portion of financing costs | (2,920) | (3,326) |
Total | $ 355,979 | $ 372,206 |
Note 12 - Accrued Charter Rev65
Note 12 - Accrued Charter Revenue, Current and Non-current and Unearned Revenue, Current and Non-current (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Accrued Revenue, Net | $ (12,868) | $ (16,435) | |
Accrued Revenue Receivable | 0 | 185 | |
Deferred Revenue | 21,404 | 26,367 | |
Amortization of Deferred Gain | 298 | $ 323 | |
Unearned Revenues Regarding Charter Revenues Resulting from Varying Charter Rates [Member] | |||
Deferred Revenue | $ 12,868 | $ 16,620 |
Note 12 - Accrued Charter Rev66
Note 12 - Accrued Charter Revenue, Current and Non-current and Unearned Revenue, Current and Non-current - Schedule of Accrued Revenue (Details) $ in Thousands | Jun. 30, 2018USD ($) |
Accrued Revenue for 2018 | $ (4,861) |
Accrued Revenue for 2019 | (6,821) |
Accrued Revenue for 2020 | (1,186) |
Total | $ (12,868) |
Note 12 - Accrued Charter Rev67
Note 12 - Accrued Charter Revenue, Current and Non-current and Unearned Revenue, Current and Non-current - Schedule of Unearned Revenue (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Unearned Revenue | $ 21,404 | $ 26,367 |
Less current portion | (13,687) | (15,310) |
Non-current portion | 7,717 | 11,057 |
Unearned Revenues Regarding Hires Collected in Advance [Member] | ||
Unearned Revenue | 4,676 | 5,589 |
Unearned Revenues Regarding Net Deferred Gains [Member] | ||
Unearned Revenue | 3,860 | 4,158 |
Unearned Revenues Regarding Charter Revenues Resulting from Varying Charter Rates [Member] | ||
Unearned Revenue | $ 12,868 | $ 16,620 |
Note 13 - Commitments and Con68
Note 13 - Commitments and Contingencies (Details Textual) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018USD ($) | Apr. 30, 2017USD ($) | |
Capital Commitments at Period End | Approximately $0.4 billion | |
Number of Vessels Ordered | 5 | |
Number of Vessels Agreed to Purchase | 2 | |
Kemp Maritime Co. and Hyde Maritime Co. [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 79,750 | |
Ainsley Maritime Co. and Ambrose Maritime Co. [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 80,075 | |
Skerrett Maritime Co. [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 41,100 | $ 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 | 6 years 180 days | |
Revenue Days Per Annum | 1 year |
Note 13 - Commitments and Con69
Note 13 - Commitments and Contingencies - Schedule of Time Charter Arrangements (Details) $ in Thousands | Jun. 30, 2018USD ($) |
Minimum Contractual Charter for 2018 | $ 156,126 |
Minimum Contractual Charter for 2019 | 235,985 |
Minimum Contractual Charter for 2020 | 168,986 |
Minimum Contractual Charter for 2021 | 127,771 |
Minimum Contractual Charter for 2022 | 95,039 |
Minimum Contractual Charter for 2023 and thereafter | 73,946 |
Total | $ 857,853 |
Note 14 - Common Stock and Ad70
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, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2018 | May 13, 2015 | Jan. 21, 2014 | Aug. 07, 2013 |
Common Stock, Shares, Outstanding, Ending Balance | 105,840,848 | 110,379,350 | 110,379,350 | ||||||||||
Follow on Offering Proceeds Net Related Expenses | $ 111,224 | $ 91,675 | |||||||||||
Common Stock, Dividends, Per Share, Cash Paid | $ 0.10 | $ 0.10 | |||||||||||
Dividends, Preferred Stock, Cash | $ 12,658 | $ 10,532 | |||||||||||
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 | ||||||||||||
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 | ||||||||||||
Common Stock Issued for the Services Agreement [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 299,200 | 598,400 | 598,400 | ||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 0 | $ 0 | |||||||||||
Common Stock Issued for Dividend Reinvestment Plan [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 1,874,165 | 3,682,704 | 2,428,081 | 7,984,950 | |||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||
Shares Issued, Price Per Share | $ 6.5839 | $ 6.194 | $ 8.043837 | $ 6.5839 | |||||||||
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] | 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] | 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 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] | 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 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] | 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 | ||||||||||||
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 |
Note 15 - Earnings Per Share 71
Note 15 - Earnings Per Share (EPS) (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Dividends, Preferred Stock, Total | $ 14,782 | $ 10,473 |
Note 15 - Earnings Per Share 72
Note 15 - Earnings Per Share (EPS) - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Net income: | $ 33,467 | $ 46,063 |
Earnings allocated to Preferred Stock (Note 15) | (14,782) | (10,473) |
Net income available to common stockholders | $ 18,685 | $ 35,590 |
Weighted average number of shares, basic and diluted (in shares) | 109,340,800 | 93,851,789 |
Earnings per common share, basic and diluted (Note 15) (in dollars per share) | $ 0.17 | $ 0.38 |
Note 16 - Interest and Financ73
Note 16 - Interest and Finance Costs - Schedule of Income Statement Related Costs (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Interest expense | $ 26,956 | $ 27,685 |
Interest capitalized | (101) | 0 |
Swap effect | 1,000 | 6,459 |
Amortization and write-off of financing costs | 1,296 | 1,068 |
Bank charges and other financing costs | 227 | 126 |
Total | $ 29,378 | $ 35,338 |
Note 17 - Taxes (Details Textua
Note 17 - Taxes (Details Textual) | 6 Months Ended |
Jun. 30, 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 | 6 Months Ended | ||
Jun. 30, 2018USD ($)€ / $ | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($)€ / $ | |
Swaps Breakage Cost | $ 1,234 | $ 0 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 2,921 | ||
Number of Foreign Currency Derivatives Held | 3 | 2 | |
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net, Total | $ 6,000 | $ 4,000 | |
Derivative, Average Forward Exchange Rate | € / $ | 1.206 | 1.1682 | |
Gain (Loss) on Foreign Currency Fair Value Hedge Derivatives | $ (294) | 501 | |
Realized Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | (314) | $ (1,625) | |
Interest Rate Swaps That Meet the Criteria for Hedge Accounting [Member] | |||
Derivative Liability, Notional Amount | 328,440 | $ 656,096 | |
Interest Rate Fair Value Hedge Derivative at Fair Value, Net, Total | 9,585 | 2,031 | |
Swaps Breakage Cost | 1,234 | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 2,921 | ||
Interest Rate Swaps That Do Not Meet the Criteria For Hedge Accounting [Member] | |||
Derivative Liability, Notional Amount | 84,705 | 89,752 | |
Interest Rate Fair Value Hedge Derivative at Fair Value, Net, Total | $ 128 | $ (980) |
Note 18 - Derivatives - Effect
Note 18 - Derivatives - Effect of Derivative Instruments (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Interest rate swaps, effective portion | $ 6,646 | $ (1,364) |
Reclassification to Interest and finance costs | 1,000 | 6,459 |
Reclassification to Interest and finance costs, ineffective portion | 0 | 0 |
Total, effective portion | 7,646 | 5,095 |
Total, ineffective portion | 0 | 0 |
Interest Rate Swap [Member] | ||
Interest rate swaps, effective portion | 6,646 | (1,364) |
Interest rate swaps, ineffective portion | $ 0 | $ 0 |
Note 18 - Derivatives - Derivat
Note 18 - Derivatives - Derivatives Not Designated as Hedging Instruments and Ineffectiveness of Hedging Instruments (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Non hedging interest rate swaps | $ 41 | $ (897) |
Forward contracts | (294) | 501 |
Total | $ (253) | $ (396) |
Note 19 - Financial Instrumen78
Note 19 - Financial Instruments (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value | $ 112 | |
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value | $ 182 | |
Interest Rate Swap [Member] | ||
Derivative Assets (Liabilities), at Fair Value, Net, Total | $ 9,712 | $ 1,051 |
Note 19 - Financial Instrumen79
Note 19 - Financial Instruments - Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Forward contracts-asset position | $ 112 | |
Forward contracts -liability position | $ (182) | |
Fair Value, Measurements, Recurring [Member] | ||
Forward contracts-asset position | 112 | |
Interest rate swaps-asset position | 9,712 | 5,754 |
Interest rate swaps-liability position | (4,703) | |
Forward contracts -liability position | (182) | |
Total | 9,530 | 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 | |
Forward contracts -liability position | ||
Total | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Forward contracts-asset position | 112 | |
Interest rate swaps-asset position | 9,712 | 5,754 |
Interest rate swaps-liability position | (4,703) | |
Forward contracts -liability position | (182) | |
Total | 9,530 | 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 | |
Forward contracts -liability position | ||
Total | $ 0 | $ 0 |
Note 20 - Comprehensive Income
Note 20 - Comprehensive Income (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Other Comprehensive Income (Loss), Net of Tax, Total | $ 7,672 | $ 5,126 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 6,646 | (1,364) |
Swap Interest Expense, Net | 1,000 | 6,459 |
Amounts Reclassified From Net Settlements on Interest Rate Swaps Qualifying for Hedge Accounting to Depreciation | (31) | (31) |
Net Settlements On Interest Rate Swaps Qualifying for Cash Flow Hedge | 5 | 0 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total | 41,139 | $ 51,189 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 2,921 |
Note 21 - Subsequent Events (De
Note 21 - Subsequent Events (Details Textual) - Subsequent Event [Member] $ / shares in Units, $ in Millions | Jul. 02, 2018$ / shares | Jul. 30, 2018 | Jul. 17, 2018USD ($) |
Loans Payable [Member] | Loan Agreement to Partially Finance the Acquisition of Megalopolis and Marathopolis [Member] | |||
Debt Instrument, Face Amount | $ | $ 48 | ||
Megalopolis and the Marathopolis Vessels [Member] | |||
Twenty-foot Equivalet Units Measured on Each Vessel Acquired | 4,957 | ||
Series B Preferred Stock [Member] | |||
Dividends Payable, Amount Per Share | $ 0.476563 | ||
Dividends Payable, Date Declared | Jul. 2, 2018 | ||
Dividends Payable, Date to be Paid | Jul. 16, 2018 | ||
Dividends Payable, Date of Record | Jul. 13, 2018 | ||
Series C Preferred Stock [Member] | |||
Dividends Payable, Amount Per Share | $ 0.53125 | ||
Dividends Payable, Date Declared | Jul. 2, 2018 | ||
Dividends Payable, Date to be Paid | Jul. 16, 2018 | ||
Dividends Payable, Date of Record | Jul. 13, 2018 | ||
Series D Preferred Stock [Member] | |||
Dividends Payable, Amount Per Share | $ 0.546875 | ||
Dividends Payable, Date Declared | Jul. 2, 2018 | ||
Dividends Payable, Date to be Paid | Jul. 16, 2018 | ||
Dividends Payable, Date of Record | Jul. 13, 2018 | ||
Series E Preferred Stock [Member] | |||
Dividends Payable, Amount Per Share | $ 0.554688 | ||
Dividends Payable, Date Declared | Jul. 2, 2018 | ||
Dividends Payable, Date to be Paid | Jul. 16, 2018 | ||
Dividends Payable, Date of Record | Jul. 13, 2018 | ||
Common Stock [Member] | |||
Dividends Payable, Amount Per Share | $ 0.10 | ||
Dividends Payable, Date Declared | Jul. 2, 2018 | ||
Dividends Payable, Date to be Paid | Aug. 8, 2018 | ||
Dividends Payable, Date of Record | Jul. 23, 2018 |