Leases (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| LEASES [Abstract] |
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| Recognition of lease expenses |
| | Dry Bulk Vessel Operations December 31, 2020 | | | Dry Bulk Vessel Operations December 31, 2019 | | | Logistics Business December 31, 2020 | | | Logistics Business December 31, 2019 | | | Total December 31, 2020 | | | Total December 31, 2019 | | Operating lease assets | | | | | | | | | | | | | | | | | | | | | | | | | Charter-in contracts (1) | | $ | 219,574 | | | $ | 255,153 | | | $ | — | | | $ | — | | | $ | 219,574 | | | $ | 255,153 | | Land lease agreements | | | — | | | | — | | | | 7,878 | | | | 7,660 | | | | 7,878 | | | | 7,660 | | Office lease agreements | | | — | | | | — | | | | 510 | | | | 1,192 | | | | 510 | | | | 1,192 | | Total | | $ | 219,574 | | | $ | 255,153 | | | $ | 8,388 | | | $ | 8,852 | | | $ | 227,962 | | | $ | 264,005 | | Operating lease liabilities, current portion | | | | | | | | | | | | | | | | | | | | | | | | | Charter-in contracts | | $ | 81,276 | | | $ | 86,636 | | | $ | — | | | $ | — | | | $ | 81,276 | | | $ | 86,636 | | Land lease agreements | | | — | | | | — | | | | (199 | ) | | | (218 | ) | | | (199 | ) | | | (218 | ) | Office lease agreements | | | — | | | | — | | | | 338 | | | | 685 | | | | 338 | | | | 685 | | Total | | $ | 81,276 | | | $ | 86,636 | | | $ | 139 | | | $ | 467 | | | $ | 81,415 | | | $ | 87,103 | | Operating lease liabilities, net of current portion | | | | | | | | | | | | | | | | | | | | | | | | | Charter-in contracts | | $ | 185,092 | | | $ | 217,932 | | | $ | — | | | $ | — | | | $ | 185,092 | | | $ | 217,932 | | Land lease agreements | | | — | | | | — | | | | 8,077 | | | | 7,878 | | | | 8,077 | | | | 7,878 | | Office lease agreements | | | — | | | | — | | | | 181 | | | | 519 | | | | 181 | | | | 519 | | Total | | $ | 185,092 | | | $ | 217,932 | | | $ | 8,258 | | | $ | 8,397 | | | $ | 193,350 | | | $ | 226,329 | |
(1)Based on the net present value of the remaining charter-in and rental payments for existing operating leases |
| Company’s lease expense |
| | Dry Bulk Vessel Operations Year Ended December 31, 2020 | | | Logistics Business Year Ended December 31, 2020 | | | Total | | Lease expense for charter-in contracts | | $ | 94,545 | | | $ | 6,587 | | | $ | 101,132 | | Lease expense for land lease agreements | | | — | | | | 564 | | | | 564 | | Lease expense for office lease agreements | | | — | | | | 600 | | | | 600 | | Total | | $ | 94,545 | | | $ | 7,751 | | | $ | 102,296 | |
| | Dry Bulk Vessel Operations Year Ended December 31, 2019 | | | Logistics Business Year Ended December 31, 2019 | | | Total | | Lease expense for charter-in contracts | | $ | 117,562 | | | $ | 3,865 | | | $ | 121,427 | | Lease expense for land lease agreements | | | — | | | | 552 | | | | 552 | | Lease expense for office lease agreements | | | 1,825 | | | | 676 | | | | 2,501 | | Total | | $ | 119,387 | | | $ | 5,093 | | | $ | 124,480 | |
| | Dry Bulk Vessel Operations Year Ended December 31, 2018 | | | Logistics Business Year Ended December 31, 2018 | | | Total | | Lease expense for charter-in contracts | | $ | 131,438 | | | $ | 114 | | | $ | 131,552 | | Lease expense for land lease agreements | | | — | | | | 344 | | | | 344 | | Lease expense for office lease agreements | | | 2,174 | | | | 702 | | | | 2,876 | | Total | | $ | 133,612 | | | $ | 1,160 | | | $ | 134,772 | |
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| Total amount of lease payments on an undiscounted basis |
| | Charter-in vessels in operation | | | Land Leases | | Office space | December 31, 2021 | | $ | 100,690 | | | $ | 556 | | $ | 356 | December 31, 2022 | | | 63,995 | | | | 556 | | | 101 | December 31, 2023 | | | 54,148 | | | | 556 | | | 81 | December 31, 2024 | | | 39,788 | | | | 556 | | | — | December 31, 2025 | | | 19,076 | | | | 556 | | | — | December 31, 2026 and thereafter | | | 45,934 | | | | 22,446 | | | — | Total | | $ | 323,631 | | | $ | 25,226 | | $ | 538 | Operating lease liabilities, including current portion | | $ | 266,367 | | | $ | 7,878 | | $ | 519 | Discount based on incremental borrowing rate | | $ | 57,264 | | | $ | 17,348 | | $ | 19 |
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| Chartered-out vessels, barges and pushboats |
| | | | | | | | | | | Dry bulk vessels | | | Logistics business | | 2021 | | | 36,850 | | | | 119,181 | | 2022 | | | — | | | | 95,041 | | 2023 | | | — | | | | 82,671 | | 2024 | | | — | | | | 71,458 | | 2025 | | | — | | | | 71,427 | | 2026 and thereafter | | | — | | | | 583,645 | | Total minimum revenue, net of commissions | | $ | 36,850 | | | $ | 1,023,423 | |
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