$PANL
Pangaea Logistics Solutions Ltd. Stock $panl

$panl Overview Financials Valuation SEC Filings Company Website

2015 Q4 Form 10-K Financial Statement

#000160690917000022 Filed on March 23, 2017

Income Statement

Concept	2015 Q4	2015 Q3	2015 Q2
Revenue	$55.93M	$71.19M	$65.10M
YoY Change	-45.74%	-21.95%	-27.49%
Cost Of Revenue	$37.30M	$51.00M	$43.30M
YoY Change
Gross Profit	$18.70M	$20.20M	$21.80M
YoY Change
Gross Profit Margin	33.44%	28.38%	33.49%
Selling, General & Admin	$3.100M	$3.600M	$3.900M
YoY Change			680.0%
% of Gross Profit	16.58%	17.82%	17.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$3.270M	$3.200M	$3.270M
YoY Change	-71.98%
% of Gross Profit	17.49%	15.84%	15.0%
Operating Expenses	$57.21M	$66.32M	$58.11M
YoY Change	-51.14%	-28.76%	-32.76%
Operating Profit	-$1.288M	$4.869M	$6.997M
YoY Change	-90.82%	-357.31%	108.27%
Interest Expense	$1.236M	$1.494M	$1.280M
YoY Change	-5.34%	10.78%	-13.21%
% of Operating Profit		30.68%	18.29%
Other Income/Expense, Net	-$1.101M	$30.00K	$60.94K
YoY Change	-70.26%	-64.2%	-17.91%
Pretax Income	-$4.800M	$2.800M	$6.000M
YoY Change			-1300.0%
Income Tax	$0.00	$0.00	$0.00
% Of Pretax Income		0.0%	0.0%
Net Earnings	-$4.787M	$3.003M	$5.461M
YoY Change	-71.91%	-203.2%	343.98%
Net Earnings / Revenue	-8.56%	4.22%	8.39%
Basic Earnings Per Share	-$0.14	$0.09	$0.16
Diluted Earnings Per Share	-$0.14	$0.09	$0.16
COMMON SHARES
Basic Shares Outstanding	35.05M shares	34.70M shares	34.70M shares
Diluted Shares Outstanding	35.38M shares	35.00M shares	34.89M shares

Balance Sheet

Concept	2015 Q4	2015 Q3	2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$37.50M	$34.20M	$34.20M
YoY Change	25.84%		34100.0%
Cash & Equivalents	$37.52M	$34.20M	$34.20M
Short-Term Investments
Other Short-Term Assets	$1.004M	$253.9K	$194.2K
YoY Change	-44.06%
Inventory	$7.491M	$10.01M	$12.61M
Prepaid Expenses	$537.2K	$543.3K	$1.336M
Receivables	$19.62M	$24.47M	$21.00M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$69.31M	$73.21M	$77.64M
YoY Change	-18.34%		77538.88%
LONG-TERM ASSETS
Property, Plant & Equipment	$255.1M	$263.1M	$265.7M
YoY Change	22.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$0.00	$836.1K	$877.0K
YoY Change	-100.0%		-99.11%
Total Long-Term Assets	$297.7M	$282.7M	$282.0M
YoY Change	20.61%		186.27%
TOTAL ASSETS
Total Short-Term Assets	$69.31M	$73.21M	$77.64M
Total Long-Term Assets	$297.7M	$282.7M	$282.0M
Total Assets	$367.0M	$355.9M	$359.6M
YoY Change	10.64%		264.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$14.06M	$17.75M	$16.35M
YoY Change	-58.06%		8074.33%
Accrued Expenses	$5.233M
YoY Change	12.5%
Deferred Revenue
YoY Change
Short-Term Debt	$13.30M	$62.90M	$60.60M
YoY Change	-77.5%
Long-Term Debt Due	$19.50M	$18.10M	$22.20M
YoY Change	9.55%
Total Short-Term Liabilities	$72.15M	$122.7M	$126.3M
YoY Change	-50.13%		63061.68%
LONG-TERM LIABILITIES
Long-Term Debt	$129.5M	$115.2M	$118.0M
YoY Change	49.54%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$129.5M	$115.2M	$118.0M
YoY Change	49.54%
TOTAL LIABILITIES
Total Short-Term Liabilities	$72.15M	$122.7M	$126.3M
Total Long-Term Liabilities	$129.5M	$115.2M	$118.0M
Total Liabilities	$258.8M	$243.1M	$249.8M
YoY Change	10.69%		124800.0%
SHAREHOLDERS EQUITY
Retained Earnings	-$24.87M	-$21.53M	-$24.48M
YoY Change	-31.2%
Common Stock	$3.650K	$3.574K	$3.556K
YoY Change	5.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$108.2M	$112.8M	$109.8M
YoY Change
Total Liabilities & Shareholders Equity	$367.0M	$355.9M	$359.6M
YoY Change	10.64%		264.72%

Cashflow Statement

Concept	2015 Q4	2015 Q3	2015 Q2
OPERATING ACTIVITIES
Net Income	-$4.787M	$3.003M	$5.461M
YoY Change	-71.91%	-203.2%	343.98%
Depreciation, Depletion And Amortization	$3.270M	$3.200M	$3.270M
YoY Change	-71.98%
Cash From Operating Activities	$7.980M	$5.220M	$1.630M
YoY Change	-60.42%		-540.54%
INVESTING ACTIVITIES
Capital Expenditures	$10.00K	-$40.00K	$10.00K
YoY Change	-100.02%
Acquisitions
YoY Change
Other Investing Activities	-$23.09M	-$290.0K	-$330.0K
YoY Change	-327.71%		-925.0%
Cash From Investing Activities	-$23.10M	-$320.0K	-$320.0K
YoY Change	-32.73%		-900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	18.43M	-4.850M	-9.740M
YoY Change	-27.64%
NET CHANGE
Cash From Operating Activities	7.980M	5.220M	1.630M
Cash From Investing Activities	-23.10M	-320.0K	-320.0K
Cash From Financing Activities	18.43M	-4.850M	-9.740M
Net Change In Cash	3.310M	50.00K	-8.430M
YoY Change	-70.68%		2454.55%
FREE CASH FLOW
Cash From Operating Activities	$7.980M	$5.220M	$1.630M
Capital Expenditures	$10.00K	-$40.00K	$10.00K
Free Cash Flow	$7.970M	$5.260M	$1.620M
YoY Change	-87.67%

Facts In Submission

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CY2015	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	12730872	USD
CY2016	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	14107822	USD
CY2015	us-gaap	Derivative Inception Dates DerivativeInceptionDates	2011-02-01
CY2015	us-gaap	Derivative Maturity Dates DerivativeMaturityDates	2021-01-24
CY2015Q4	us-gaap	Derivative Number Of Instruments Held DerivativeNumberOfInstrumentsHeld	1	swap
CY2015Q4	us-gaap	Development In Process DevelopmentInProcess	42505783	USD
CY2016Q4	us-gaap	Development In Process DevelopmentInProcess	18383964	USD
CY2015	us-gaap	Dividends Cash DividendsCash	100000	USD
CY2016	us-gaap	Dividends Cash DividendsCash	100000	USD
CY2015Q4	us-gaap	Dividends Payable Current DividendsPayableCurrent	12724825	USD
CY2014Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	12824825	USD
CY2015Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	12724825	USD
CY2016Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	12624825	USD
CY2016Q4	us-gaap	Inventory Net InventoryNet	13202937	USD
CY2016Q4	us-gaap	Minority Interest MinorityInterest	60405671	USD
CY2015	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.32
CY2016Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.03
CY2016Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.00
CY2016Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.17
CY2016Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.002
CY2016	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.21
CY2015	us-gaap	Gain Loss On Sale Of Other Assets GainLossOnSaleOfOtherAssets	-638638	USD
CY2016	us-gaap	Gain Loss On Sale Of Other Assets GainLossOnSaleOfOtherAssets	0	USD
CY2015Q1	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	88868	USD
CY2015Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	13321419	USD
CY2015Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.22
CY2015Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.16
CY2015Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.09
CY2015Q4	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.14
CY2015	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.32
CY2016Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.03
CY2016Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.00
CY2016Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.17
CY2016Q4	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.002
CY2016	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.21
CY2015Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.22
CY2015Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.16
CY2015Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.09
CY2015Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.14
CY2015Q2	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	477888	USD
CY2015Q3	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	71882	USD
CY2015Q4	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2015	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	-638638	USD
CY2016Q1	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2016Q2	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2016Q3	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2016Q4	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2016	us-gaap	Gain Loss On Sale Of Properties GainLossOnSaleOfProperties	0	USD
CY2015Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	4318692	USD
CY2015Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3916119	USD
CY2015Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3595398	USD
CY2015Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3136254	USD
CY2015	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	14966463	USD
CY2016Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3000000	USD
CY2016Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2900000	USD
CY2016Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3200000	USD
CY2016Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3600000	USD
CY2016	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	12773781	USD
CY2015	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-100861	USD
CY2016	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	0	USD
CY2015	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	373000	USD
CY2016Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	6441583	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	275265672	USD
CY2016Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	6100000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-17409579	USD
CY2016	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	198000	USD
CY2015	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-6769321	USD
CY2016	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1781268	USD
CY2015	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-7300131	USD
CY2016	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	1974187	USD
CY2015	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-8111069	USD
CY2016	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	5712347	USD
CY2015	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-3852662	USD
CY2016	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	3708549	USD
CY2015	us-gaap	Increase Decrease In Restricted Cash For Operating Activities IncreaseDecreaseInRestrictedCashForOperatingActivities	1003341	USD
CY2016	us-gaap	Increase Decrease In Restricted Cash For Operating Activities IncreaseDecreaseInRestrictedCashForOperatingActivities	-1503341	USD
CY2015Q1	us-gaap	Interest Expense InterestExpense	1410771	USD
CY2015Q2	us-gaap	Interest Expense InterestExpense	1279933	USD
CY2015Q3	us-gaap	Interest Expense InterestExpense	1493536	USD
CY2015Q4	us-gaap	Interest Expense InterestExpense	1235515	USD
CY2015	us-gaap	Interest Expense InterestExpense	5419755	USD
CY2016Q1	us-gaap	Interest Expense InterestExpense	1400000	USD
CY2016Q2	us-gaap	Interest Expense InterestExpense	1500000	USD
CY2016Q3	us-gaap	Interest Expense InterestExpense	1300000	USD
CY2016Q4	us-gaap	Interest Expense InterestExpense	1300000	USD
CY2016	us-gaap	Interest Expense InterestExpense	5423057	USD
CY2015Q1	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	114966	USD
CY2015Q2	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	110763	USD
CY2015Q3	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	110764	USD
CY2015Q4	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	99072	USD
CY2015	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	435565	USD
CY2016Q1	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	100000	USD
CY2016Q2	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	100000	USD
CY2016Q3	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	100000	USD
CY2016Q4	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	100000	USD
CY2016	us-gaap	Interest Expense Related Party InterestExpenseRelatedParty	314925	USD
CY2015	us-gaap	Interest Paid InterestPaid	5407613	USD
CY2016	us-gaap	Interest Paid InterestPaid	4659015	USD
CY2015Q4	us-gaap	Interest Payable Current InterestPayableCurrent	455818	USD
CY2016Q4	us-gaap	Interest Payable Current InterestPayableCurrent	412984	USD
CY2015Q4	us-gaap	Inventory Net InventoryNet	7490590	USD
CY2015Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	366962996	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	362193902	USD
CY2015Q4	us-gaap	Liabilities Current LiabilitiesCurrent	72150503	USD
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	77878979	USD
CY2016Q4	us-gaap	Long Term Debt LongTermDebt	128794208	USD
CY2015Q4	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	28960879	USD
CY2016Q4	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	82224170	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	35450345	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	19627846	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	16618718	USD
CY2016	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-158528	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	19021179	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	16371749	USD
CY2016Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	21704371	USD
CY2015Q4	us-gaap	Longterm Debt Percentage Bearing Fixed Interest Amount LongtermDebtPercentageBearingFixedInterestAmount	28320101	USD
CY2016Q4	us-gaap	Longterm Debt Percentage Bearing Fixed Interest Amount LongtermDebtPercentageBearingFixedInterestAmount	82001821	USD
CY2015Q4	us-gaap	Minority Interest MinorityInterest	57103815	USD
CY2015	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	504210	USD
CY2015	us-gaap	Minority Interest Decrease From Redemptions MinorityInterestDecreaseFromRedemptions	204467	USD
CY2015Q4	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	28491872	USD
CY2016Q4	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	6540489	USD
CY2015	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	45742433	USD
CY2016	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-24156639	USD
CY2015	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-64048818	USD
CY2016	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-10254315	USD
CY2015	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	26009118	USD
CY2016	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	19213663	USD
CY2015Q1	us-gaap	Net Income Loss NetIncomeLoss	7599929	USD
CY2015Q2	us-gaap	Net Income Loss NetIncomeLoss	5460637	USD
CY2015Q3	us-gaap	Net Income Loss NetIncomeLoss	3002669	USD
CY2015Q4	us-gaap	Net Income Loss NetIncomeLoss	-4787042	USD
CY2015	us-gaap	Net Income Loss NetIncomeLoss	11276193	USD
CY2016Q1	us-gaap	Net Income Loss NetIncomeLoss	1200000	USD
CY2016Q2	us-gaap	Net Income Loss NetIncomeLoss	100000	USD
CY2016Q3	us-gaap	Net Income Loss NetIncomeLoss	6100000	USD
CY2016Q4	us-gaap	Net Income Loss NetIncomeLoss	100000	USD
CY2016	us-gaap	Net Income Loss NetIncomeLoss	7456955	USD
CY2015Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	1729730	USD
CY2015Q2	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	569227	USD
CY2015Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-221895	USD
CY2015Q4	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	13832	USD
CY2015	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	2090894	USD
CY2016Q1	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	400000	USD
CY2016Q2	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	500000	USD
CY2016Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	500000	USD
CY2016Q4	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	300000	USD
CY2016	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	1701856	USD
CY2016	us-gaap	Noncontrolling Interest Increase From Subsidiary Equity Issuance NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	1600000	USD
CY2015Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	83149	USD
CY2015Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	60935	USD
CY2015Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	30000	USD
CY2015Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-1100843	USD
CY2015	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-926759	USD
CY2016Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-100000	USD
CY2016Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	100000	USD
CY2016Q3	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	0	USD
CY2016Q4	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-100000	USD
CY2015Q1	us-gaap	Operating Expenses OperatingExpenses	85166996	USD
CY2015Q2	us-gaap	Operating Expenses OperatingExpenses	58106243	USD
CY2015Q3	us-gaap	Operating Expenses OperatingExpenses	66319413	USD
CY2015Q4	us-gaap	Operating Expenses OperatingExpenses	57214159	USD
CY2015	us-gaap	Operating Expenses OperatingExpenses	266806811	USD
CY2016Q1	us-gaap	Operating Expenses OperatingExpenses	40400000	USD
CY2016Q2	us-gaap	Operating Expenses OperatingExpenses	56200000	USD
CY2016Q3	us-gaap	Operating Expenses OperatingExpenses	63000000	USD
CY2016Q4	us-gaap	Operating Expenses OperatingExpenses	65500000	USD
CY2016	us-gaap	Operating Expenses OperatingExpenses	225124661	USD
CY2015Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	9948792	USD
CY2015Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	6996529	USD
CY2015Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	4868752	USD
CY2015Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	-1287643	USD
CY2015	us-gaap	Operating Income Loss OperatingIncomeLoss	20526430	USD
CY2016Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	3500000	USD
CY2016Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	800000	USD
CY2016Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	7800000	USD
CY2016Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	800000	USD
CY2016	us-gaap	Operating Income Loss OperatingIncomeLoss	12891837	USD
CY2016Q4	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	2085016	USD
CY2016Q4	us-gaap	Operating Leases Future Minimum Payments Due Current OperatingLeasesFutureMinimumPaymentsDueCurrent	581008	USD
CY2016Q4	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	193000	USD
CY2016Q4	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	365000	USD
CY2016Q4	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	365000	USD
CY2016Q4	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	581008	USD
CY2015Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	2402650	USD
CY2016Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	427627	USD
CY2015Q4	us-gaap	Other Assets Current OtherAssetsCurrent	1003800	USD
CY2016Q4	us-gaap	Other Assets Current OtherAssetsCurrent	2364617	USD
CY2015Q4	us-gaap	Other Long Term Debt Current OtherLongTermDebtCurrent	19499262	USD
CY2016Q4	us-gaap	Other Long Term Debt Current OtherLongTermDebtCurrent	19627846	USD
CY2015Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-619133	USD
CY2015Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-966665	USD
CY2015Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-2087978	USD
CY2015Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-3485567	USD
CY2015	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-7159343	USD
CY2016Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-1900000	USD
CY2016Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-200000	USD
CY2016Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-1200000	USD
CY2016Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-500000	USD
CY2016	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-3733026	USD
CY2015	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts	1178310	USD
CY2016	us-gaap	Payment Of Financing And Stock Issuance Costs PaymentOfFinancingAndStockIssuanceCosts	45755	USD
CY2015	us-gaap	Payments Of Distributions To Affiliates PaymentsOfDistributionsToAffiliates	567883	USD
CY2016	us-gaap	Payments Of Distributions To Affiliates PaymentsOfDistributionsToAffiliates	0	USD
CY2015	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	100000	USD
CY2016	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	100000	USD
CY2015	us-gaap	Payments To Acquire Buildings PaymentsToAcquireBuildings	27209306	USD
CY2016	us-gaap	Payments To Acquire Buildings PaymentsToAcquireBuildings	9618964	USD
CY2015	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	250000	USD
CY2016	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	0	USD
CY2015	us-gaap	Payments To Acquire Other Property Plant And Equipment PaymentsToAcquireOtherPropertyPlantAndEquipment	55128	USD
CY2016	us-gaap	Payments To Acquire Other Property Plant And Equipment PaymentsToAcquireOtherPropertyPlantAndEquipment	315918	USD
CY2015Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2015Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2015Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2015Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2015Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	2679292	USD
CY2015Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	537192	USD
CY2016Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	1844522	USD
CY2015	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	67500000	USD
CY2016	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	1375971	USD
CY2016	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	1600000	USD
CY2015	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	6853336	USD
CY2016	us-gaap	Proceeds From Related Party Debt ProceedsFromRelatedPartyDebt	4836300	USD
CY2015	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	0	USD
CY2016	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	-5600000	USD
CY2015Q1	us-gaap	Profit Loss ProfitLoss	9329659	USD
CY2015Q2	us-gaap	Profit Loss ProfitLoss	6029864	USD
CY2015Q3	us-gaap	Profit Loss ProfitLoss	2780774	USD
CY2015Q4	us-gaap	Profit Loss ProfitLoss	-4773210	USD
CY2015	us-gaap	Profit Loss ProfitLoss	13367087	USD
CY2016Q1	us-gaap	Profit Loss ProfitLoss	1600000	USD
CY2016Q2	us-gaap	Profit Loss ProfitLoss	600000	USD
CY2016Q3	us-gaap	Profit Loss ProfitLoss	6600000	USD
CY2016Q4	us-gaap	Profit Loss ProfitLoss	300000	USD
CY2016	us-gaap	Profit Loss ProfitLoss	9158811	USD
CY2015Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	3743576	USD
CY2016Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	4059494	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	255145807	USD
CY2015Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	2828828	USD
CY2016Q4	us-gaap	Property Plant And Equipment Other Net PropertyPlantAndEquipmentOtherNet	2882874	USD
CY2015	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	974952	USD
CY2015	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	975000	USD
CY2016	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	922414	USD
CY2016	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	922000	USD
CY2015	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	3000000	USD
CY2016	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	0	USD
CY2015	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	22548460	USD
CY2016	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	23722658	USD
CY2015	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	1216250	USD
CY2016	us-gaap	Repayments Of Related Party Debt RepaymentsOfRelatedPartyDebt	2500497	USD
CY2015Q4	us-gaap	Restricted Cash And Cash Equivalents At Carrying Value RestrictedCashAndCashEquivalentsAtCarryingValue	2003341	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-24866534	USD
CY2015Q1	us-gaap	Revenues Revenues	95115788	USD
CY2015Q2	us-gaap	Revenues Revenues	65102772	USD
CY2015Q3	us-gaap	Revenues Revenues	71188165	USD
CY2015Q4	us-gaap	Revenues Revenues	55926516	USD
CY2015	us-gaap	Revenues Revenues	287333241	USD
CY2016Q1	us-gaap	Revenues Revenues	43900000	USD
CY2016Q2	us-gaap	Revenues Revenues	57000000	USD
CY2016Q3	us-gaap	Revenues Revenues	70800000	USD
CY2016Q4	us-gaap	Revenues Revenues	66300000	USD
CY2016	us-gaap	Revenues Revenues	238016498	USD
CY2015Q4	us-gaap	Secured Debt SecuredDebt	151140681	USD
CY2016Q4	us-gaap	Secured Debt SecuredDebt	128794208	USD
CY2015Q4	us-gaap	Secured Debt Current SecuredDebtCurrent	19499262	USD
CY2016Q4	us-gaap	Secured Debt Current SecuredDebtCurrent	19627846	USD
CY2015Q4	us-gaap	Secured Long Term Debt SecuredLongTermDebt	129496153	USD
CY2016Q4	us-gaap	Secured Long Term Debt SecuredLongTermDebt	107637851	USD
CY2015	us-gaap	Share Based Compensation ShareBasedCompensation	457000	USD
CY2015	us-gaap	Share Based Compensation ShareBasedCompensation	457068	USD
CY2016	us-gaap	Share Based Compensation ShareBasedCompensation	602000	USD
CY2016	us-gaap	Share Based Compensation ShareBasedCompensation	601921	USD
CY2016	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod	59784	shares
CY2016	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue	2.39
CY2016	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	146364	shares
CY2016	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	2.66
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	1376857.00	shares
CY2016Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	1361349.00	shares
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	2.45
CY2016Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue	2.46
CY2016	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod	102088	shares
CY2016	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue	3.29
CY2014Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	1500000	shares
CY2016Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	3000000	shares
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	108212525	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	116271401	USD
CY2014Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	100347553	USD
CY2015Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	165316340	USD
CY2016Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	176677072	USD
CY2015Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	2145266	USD
CY2015Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	35382734	shares
CY2015	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	34957542	shares
CY2016Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	1528511	USD
CY2015	us-gaap	Unrealized Gain Loss On Cash Flow Hedging Instruments UnrealizedGainLossOnCashFlowHedgingInstruments	-377264	USD
CY2016	us-gaap	Unrealized Gain Loss On Cash Flow Hedging Instruments UnrealizedGainLossOnCashFlowHedgingInstruments	2163484	USD
CY2015Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	823455	USD
CY2015Q2	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	363096	USD
CY2015Q3	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-513678	USD
CY2015Q4	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-1050137	USD
CY2015	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-377264	USD
CY2016Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-300000	USD
CY2016Q2	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	1400000	USD
CY2016Q3	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	200000	USD
CY2016Q4	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	1000000	USD
CY2016	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	2163484	USD
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	34695930	shares
CY2015Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	34887177	shares
CY2015Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	35004808	shares
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	35201307	shares
CY2016Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	35337290	shares
CY2016Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	35347403	shares
CY2016Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	35581897	shares
CY2016	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	35376950	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	34696980	shares
CY2015Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	34696980	shares
CY2015Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	34696980	shares
CY2015Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	35045132	shares
CY2015	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	34784733	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	35130211	shares
CY2016Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	35150453	shares
CY2016Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	35165532	shares
CY2016Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	35189068	shares
CY2016	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	35158917	shares
CY2015	us-gaap	Write Off Of Deferred Debt Issuance Cost WriteOffOfDeferredDebtIssuanceCost	37000	USD
CY2015	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF ORGANIZATION</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The consolidated financial statements include the operations of Pangaea Logistics Solutions Ltd. and its wholly-owned subsidiaries (collectively referred to as “the Company”), as well as other entities consolidated pursuant to Accounting Standards Codification (“ASC”) 810, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Consolidation</font><font style="font-family:inherit;font-size:10pt;">. A summary of the Company’s consolidation policy is provided in Note 3. A summary of the Company’s variable interest entities is provided at Note 4. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, entities that are consolidated pursuant to ASC 810-10 include the following wholly-owned subsidiaries:</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Partners (Bermuda) Ltd. (“Bulk Partners”) – a corporation that was duly organized under the laws of Bermuda. The primary purpose of this corporation is a holding company.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Phoenix Bulk Carriers (BVI) Limited (“PBC”) – a corporation that was duly organized under the laws of the British Virgin Islands. The primary purpose of this corporation is to manage and operate ocean-going vessels.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Phoenix Bulk Management Bermuda Limited (“PBM”) – a corporation that was duly organized under the laws of Bermuda. Certain of the administrative management functions of PBC have been assigned to PBM.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Americas Bulk Transport (BVI) Limited – a corporation that was duly organized under the laws of the British Virgin Islands. The primary purpose of this corporation is to charter ships.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Ocean Shipping (Bermuda) Ltd. – a corporation that was duly organized under the laws of Bermuda. The primary purpose of this corporation is to manage the fuel procurement of the chartered vessels.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Phoenix Bulk Carriers (US) LLC – a corporation that duly organized under the laws of Delaware. The primary purpose of this corporation is to act as the U.S. administrative agent for the Company.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Allseas Logistics Bermuda Ltd. – a corporation that was duly organized under the laws of Bermuda. The primary purpose of this corporation is the Treasury Agent for the group of Companies.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Pangaea Limited (“Bulk Pangaea”) – a corporation that was duly organized under the laws of Bermuda. Bulk Pangaea was established in September 2009 for the purpose of acquiring the m/v Bulk Pangaea.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Patriot Ltd. (“Bulk Patriot”) – a corporation that was duly organized under the laws of Bermuda. Bulk Patriot was established in September 2011 for the purpose of acquiring the m/v Bulk Patriot.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Juliana Ltd. (“Bulk Juliana”) – a corporation that was duly organized under the laws of Bermuda. Bulk Juliana was established in March 2012 for the purpose of acquiring the m/v Bulk Juliana.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Trident Ltd. (“Bulk Trident”) – a corporation that was duly organized under the laws of Bermuda. Bulk Trident was established in August 2012 for the purpose of acquiring the m/v Bulk Trident.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Atlantic Ltd. (“Bulk Beothuk”) – a corporation that was duly organized under the laws of Bermuda. Bulk Atlantic was established in February 2013 for the purpose of acquiring the m/v Bulk Beothuk.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bulk Phoenix Ltd. (“Bulk Phoenix”) – a corporation that was duly organized under the laws of Bermuda. Bulk Phoenix was established in July 2013 for the purpose of acquiring the m/v Bulk Newport.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nordic Bulk Barents Ltd. (“Bulk Barents”) – a corporation that was duly organized under the laws of Bermuda. Bulk Barents was established in November 2013 for the purpose of acquiring the m/v Nordic Barents.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nordic Bulk Bothnia Ltd. (“Bulk Bothnia”) – a corporation that was duly organized under the laws of Bermuda. Bulk Bothnia was established in November 2013 for the purpose of acquiring the m/v Nordic Bothnia.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">109 Long Wharf LLC (“Long Wharf”) – a limited liability company that was duly organized under the laws of Delaware for the objective and purpose of holding real estate located in Newport, Rhode Island.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nordic Bulk Holding ApS (“NBH”) – a corporation that was duly organized in March 2009 under the laws of Denmark. The primary purpose of this corporation is to manage and operate vessels through its wholly owned subsidiary Nordic Bulk Carriers AS (“NBC”). NBC specializes in ice trading, as well as the carriage of a wide range of commodities, including cement clinker, steel scrap, fertilizers, and grains. </font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, entities that are consolidated pursuant to ASC 810-10, but which are not wholly-owned, include the following: </font></div><div style="line-height:120%;text-align:justify;padding-left:61px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nordic Bulk Holding Company Ltd. (“NBHC”) - a corporation that was duly organized under the laws of Bermuda. NBHC was established in October 2012, for the purpose of owning Bulk Nordic Odyssey Ltd. (“Bulk Odyssey”) and Bulk Nordic Orion Ltd. (“Bulk Orion”) and to invest in additional vessels through its wholly-owned subsidiaries. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;"> the Company had one-third ownership interest in NBHC, the remainder of which is owned by third-parties. The operating results of NBHC are 100% dependent on transactions with related parties and affiliates. Accordingly, the Company has consolidated NBHC for the years ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016 and 2015</font><font style="font-family:inherit;font-size:10pt;">. Bulk Bulk Odyssey, Bulk Orion, Bulk Nordic Oshima Ltd. (“Bulk Oshima”), Bulk Nordic Olympic Ltd. (“Bulk Olympic”), Bulk Nordic Odin Ltd. (“Bulk Odin”) and Bulk Nordic Oasis Ltd. (“Bulk Oasis”), corporations duly organized under the laws of Bermuda between March 2012 and February 2015, are owned by NBHC. These entities were established for the purpose of owning m/v Nordic Odyssey, m/v Nordic Orion, m/v Nordic Oshima, m/v Nordic Olympic, m/v Nordic Odin and m/v Nordic Oasis, respectively.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nordic Bulk Ventures Holding Company Ltd. (“BVH”) – a corporation that was duly organized under the laws of Bermuda. BVH was established in August 2013, together with a third-party, for the purpose of owning Bulk Nordic Five Ltd. (“Five”) and Bulk Nordic Six Ltd. (“Six”). Five and Six are corporations that were duly organized under the laws of Bermuda in November 2013 for the purpose of owning m/v Bulk Destiny and m/v Bulk Endurance, new ultramax newbuildings delivered in January 2017. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, the Company had a </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in BVH, the remainder of which was owned by a third-party until January 2017 as discussed in Note12. The operating results of BVH are 100% dependent on transactions with related parties and affiliates. Accordingly, the Company has consolidated BVH for the years ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">.</font></div></td></tr></table></div>
CY2016	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Concentrations of Credit Risk</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash equivalents, trade receivables and derivative instruments. The Company maintains its cash accounts with various high-quality financial institutions in the United States, Germany, and Bermuda. The Company performs periodic evaluations of the relative credit standing of these financial institutions. The Company does not believe that significant concentration of credit risk exists with respect to these cash equivalents. Trade accounts receivable are recorded at the invoiced amount, and do not bear interest. The Company performs ongoing credit evaluations of its customers’ financial condition, but does not require collateral. Historically, credit risk with respect to trade accounts receivable has been considered minimal due to the long-standing relationships with significant customers, and their relative financial stability. However, current economic conditions could impact the collectibility of certain customers' trade receivables, which could have a material effect on the Company's results of operations. Derivative instruments are recorded at fair value. The Company does not have any off-balance sheet credit exposure related to its customers.</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> customers accounted for </font><font style="font-family:inherit;font-size:10pt;">29%</font><font style="font-family:inherit;font-size:10pt;"> of the Company’s trade accounts receivable. At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, there were </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> customers that accounted for </font><font style="font-family:inherit;font-size:10pt;">59%</font><font style="font-family:inherit;font-size:10pt;"> of the Company’s trade accounts receivable.</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, customers in each of the following countries accounted for at least </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of accounts receivable; the United States (</font><font style="font-family:inherit;font-size:10pt;">30%</font><font style="font-family:inherit;font-size:10pt;">), Canada (</font><font style="font-family:inherit;font-size:10pt;">20%</font><font style="font-family:inherit;font-size:10pt;">) and the Switzerland (</font><font style="font-family:inherit;font-size:10pt;">11%</font><font style="font-family:inherit;font-size:10pt;">). At </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, customers in each of the following countries accounted for at least </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of the Company’s accounts receivable; Canada (</font><font style="font-family:inherit;font-size:10pt;">41%</font><font style="font-family:inherit;font-size:10pt;">) and the United States (</font><font style="font-family:inherit;font-size:10pt;">35%</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">, revenue from customers in each of the following countries accounted for at least </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of total revenue; the United States (</font><font style="font-family:inherit;font-size:10pt;">21%</font><font style="font-family:inherit;font-size:10pt;">) and Canada (</font><font style="font-family:inherit;font-size:10pt;">21%</font><font style="font-family:inherit;font-size:10pt;">). For the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, revenue from customers in each of the following countries accounted for at least </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of total revenue; the United States (</font><font style="font-family:inherit;font-size:10pt;">29%</font><font style="font-family:inherit;font-size:10pt;">), Canada (</font><font style="font-family:inherit;font-size:10pt;">15%</font><font style="font-family:inherit;font-size:10pt;">) and Switzerland (</font><font style="font-family:inherit;font-size:10pt;">13%</font><font style="font-family:inherit;font-size:10pt;">). </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> customers accounted for </font><font style="font-family:inherit;font-size:10pt;">22%</font><font style="font-family:inherit;font-size:10pt;"> of total revenue. For the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> customer accounted for </font><font style="font-family:inherit;font-size:10pt;">13%</font><font style="font-family:inherit;font-size:10pt;"> of total revenue.</font></div></div>
CY2016	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts in the consolidated financial statements have been reclassified to conform to the current year’s presentation. These reclassifications had no effect on the Company’s previously reported consolidated operations or shareholders’ equity.</font></div></div>
CY2016	us-gaap	Revenue Recognition Deferred Revenue RevenueRecognitionDeferredRevenue	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Deferred Revenue</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Billings for services for which revenue is not recognized in the current period are recorded as deferred revenue. Deferred revenue recognized in the accompanying consolidated balance sheets is expected to be realized within 12 months of the balance sheet date.</font></div></div>
CY2016	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:underline;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the establishment of the allowance for doubtful accounts and the estimate of salvage value used in determining vessel depreciation expense.</font></div></div>

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