Prepaid Expenses and Other Current Assets
 12 Months Ended
Dec. 31, 2018
PREPAID EXPENSES AND OTHER CURRENT ASSETS [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 6: PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

  

December 31,

2018

 

  

December 31,

2017

 

Prepaid voyage and operating costs

  

$

9,261

 

  

$

8,022

 

Claims receivable

  

 

22,224

 

  

 

12,307

 

Prepaid other taxes

  

 

2,682

 

  

 

4,520

 

Advances for working capital purposes

  

 

18

 

  

 

18

 

Other

  

 

6,005

 

  

 

2,516

 

Total prepaid expenses and other current assets

  

$

40,190

 

  

$

27,383

 

 

  

 

 

 

  

 

 

 

Claims receivable mainly represents claims against vessels’ insurance underwriters in respect of damages arising from accidents or other insured risks, as well as claims under charter contracts including off-hires. While it is anticipated that claims receivable will be recovered within one year, such claims may not all be recovered within one year due to the attendant process of settlement. Nonetheless, amounts are classified as current as they represent amounts currently due to the Company. All amounts are shown net of applicable deductibles.

As of December 31, 2018, claims receivable include an insurance claim of $11,571 related to the fire incident at the iron ore port terminal in Nueva Palmira, Uruguay.