Charter hire expense for Navios Holdings chartered-in vessels amounted to $84,114, $134,364 and $111,386, for each of the years ended December 31, 2016, 2015 and 2014, respectively. Charter hire expense for logistics business chartered-in vessels amounted to $1,521, $1,307 and $2,468, for each of the years ended December 31, 2016, 2015 and 2014, respectively.

 

Rent expense for office space amounted to $2,748, $2,508, and $2,804 for each of the years ended December 31, 2016, 2015 and 2014, respectively. The Company leases office space at 825 3rd Avenue, New York, New York, pursuant to a lease that expires in April 2019. The Company also leases office space at 85 Akti Miaouli, Piraeus, Greece, pursuant to lease agreements that expire in 2017 and 2019. The Company also leases office space in Monaco pursuant to a lease that expires in June 2018. The Company also leases office space in Antwerp, Belgium pursuant to a lease that expires in 2019.

 

Navios Logistics' subsidiaries lease various premises in Argentina and Paraguay that expire on various dates through 2021. The above table incorporates the lease commitments on all offices as disclosed above.

 

Revenues from time charters are not generally received when a vessel is off-hire, which includes time required for scheduled maintenance of the vessel.

 

The future minimum revenue of Navios Logistics, as presented in the table above, expected to be earned on non-cancelable contracts with minimum guaranteed throughput after the successful completion of the expansion of Navios Logistics' dry port facility is $44,200 per annum, based on current contract rates, for a period of 20 years.

 

Navios Logistics' future minimum revenue, as presented in the table above, expected to be earned on non-cancelable contracts under time charter after the successful completion of the construction of a river and estuary tanker, is $41,640 for a period of five years, based on current contract rates.