XML 24 R55.htm IDEA: XBRL DOCUMENT v2.4.1.9
NEWBUILDINGS (Details) (USD $)
12 Months Ended 0 Months Ended 1 Months Ended 2 Months Ended 3 Months Ended 4 Months Ended 3 Months Ended 1 Months Ended
Dec. 31, 2014
vessel
Dec. 31, 2013
Dec. 31, 2012
Oct. 30, 2014
vessel
Sep. 30, 2014
company
May 31, 2014
vessel
t
Apr. 30, 2014
vessel
company
t
Oct. 31, 2014
vessel
Sep. 30, 2014
vessel
Sep. 30, 2014
vessel
Mar. 31, 2015
vessel
Mar. 31, 2015
company
Jan. 31, 2015
vessel
Dec. 31, 2011
Sep. 15, 2014
Significant Acquisitions and Disposals [Line Items]                              
Number of Newbuildings on Order 14vlccf_NumberOfNewbuildingsOnOrder                            
Interest Costs Incurred $ 360,500,000us-gaap_InterestCostsIncurred                            
New building installments balance 26,706,000vlccf_Newbuildingbalance 0vlccf_Newbuildingbalance                          
Installments and newbuilding supervision fees paid and accrued 356,355,000vlccf_Newbuildinginstallmentspaidduringreportingperiod 26,298,000vlccf_Newbuildinginstallmentspaidduringreportingperiod                          
Interest capitalized 4,179,000us-gaap_InterestCostsCapitalized 408,000us-gaap_InterestCostsCapitalized                          
New building installments balance 323,340,000vlccf_Newbuildingbalance 26,706,000vlccf_Newbuildingbalance 0vlccf_Newbuildingbalance                        
Transfer from newbuildings (546,520,000)us-gaap_PropertyPlantAndEquipmentTransfersAndChanges                            
Property, Plant and Equipment, Gross 915,060,000us-gaap_PropertyPlantAndEquipmentGross 305,581,000us-gaap_PropertyPlantAndEquipmentGross 305,581,000us-gaap_PropertyPlantAndEquipmentGross                     657,890,000us-gaap_PropertyPlantAndEquipmentGross  
Value of share consideration paid in connection with purchase of vessel 38,874,000us-gaap_StockIssuedDuringPeriodValuePurchaseOfAssets                            
Cash acquired upon purchase of SPCs 68,560,000vlccf_CashAcquiredfromAssetAcquisition 0vlccf_CashAcquiredfromAssetAcquisition 0vlccf_CashAcquiredfromAssetAcquisition                        
Payments To Acquire Newbuildings 357,402,000vlccf_PaymentsToAcquireNewbuildings 26,706,000vlccf_PaymentsToAcquireNewbuildings 0vlccf_PaymentsToAcquireNewbuildings                        
Accrued expenses not paid 3,100,000us-gaap_AccruedLiabilitiesCurrentAndNoncurrent                            
Capesize Vessels [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Number of Newbuildings on Order 26vlccf_NumberOfNewbuildingsOnOrder
/ us-gaap_ProductOrServiceAxis
= vlccf_CapesizeVesselsMember
4vlccf_NumberOfNewbuildingsOnOrder
/ us-gaap_ProductOrServiceAxis
= vlccf_CapesizeVesselsMember
                         
Construction in Progress [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Property, Plant and Equipment, Gross 323,340,000us-gaap_PropertyPlantAndEquipmentGross
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_ConstructionInProgressMember
                           
Frontline 2012 [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Number of SPCs acquired         13vlccf_NumberofSpecialPurposeCompaniesPurchasedEachHoldingNewbuildingContract
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
  5vlccf_NumberofSpecialPurposeCompaniesPurchasedEachHoldingNewbuildingContract
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Capesize drybulk size range             180,000vlccf_CapesizeDrybulkSizeRange
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Value of Share Consideration Paid in Connection with Purchase of SPCs, Net of Cash Acquired         331,661,000vlccf_ValueofShareConsiderationPaidinConnectionwithPurchaseofSPCsNetofCashAcquired
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
  150,959,000vlccf_ValueofShareConsiderationPaidinConnectionwithPurchaseofSPCsNetofCashAcquired
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Noncash or Part Noncash Acquisition, Payables Assumed             150,000,000us-gaap_NoncashOrPartNoncashAcquisitionPayablesAssumed1
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Value of share consideration paid in connection with purchase of vessel         356,800,000us-gaap_StockIssuedDuringPeriodValuePurchaseOfAssets
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
  194,400,000us-gaap_StockIssuedDuringPeriodValuePurchaseOfAssets
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Number of Capesize Newbuildings Delivered       2vlccf_NumberofCapesizeNewbuildingsDelivered
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
  2vlccf_NumberofCapesizeNewbuildingsDelivered
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
3vlccf_NumberofCapesizeNewbuildingsDelivered
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
3vlccf_NumberofCapesizeNewbuildingsDelivered
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
2vlccf_NumberofCapesizeNewbuildingsDelivered
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
3vlccf_NumberofCapesizeNewbuildingsDelivered
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
         
Number of SPCs expected to acquire             25vlccf_NumberofSpecialPurposeCompaniesExpectedtoAcquire
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Number of Capesize Newbuildings Acquired             5vlccf_NumberofCapesizeNewbuildingsAcquired
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Cash acquired upon purchase of SPCs         25,100,000vlccf_CashAcquiredfromAssetAcquisition
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
  43,400,000vlccf_CashAcquiredfromAssetAcquisition
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
               
Common Stock [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Number of shares issued as consideration             15,500,000us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
               
Common Stock [Member] | Frontline 2012 [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Number of shares issued as consideration         31,000,000us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
  15,500,000.0us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
               
Share price (in USD per share)         $ 11.51us-gaap_SharesIssuedPricePerShare
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
  $ 12.54us-gaap_SharesIssuedPricePerShare
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
  11.51us-gaap_SharesIssuedPricePerShare
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
11.51us-gaap_SharesIssuedPricePerShare
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
        $ 11.51us-gaap_SharesIssuedPricePerShare
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
Capital Addition Purchase Commitments [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Noncash or Part Noncash Acquisition, Payables Assumed         490,000,000us-gaap_NoncashOrPartNoncashAcquisitionPayablesAssumed1
/ us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis
= us-gaap_CapitalAdditionsMember
                   
Subsequent Event [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Number of Newbuildings on Order                     25vlccf_NumberOfNewbuildingsOnOrder
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
25vlccf_NumberOfNewbuildingsOnOrder
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
     
Number of Capesize Newbuildings Acquired                     21vlccf_NumberofCapesizeNewbuildingsAcquired
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
       
Subsequent Event [Member] | Frontline 2012 [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Number of SPCs acquired                       12vlccf_NumberofSpecialPurposeCompaniesPurchasedEachHoldingNewbuildingContract
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
     
Number of Capesize Newbuildings Delivered                         4vlccf_NumberofCapesizeNewbuildingsDelivered
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
   
Number of Capesize Newbuildings Acquired                     17vlccf_NumberofCapesizeNewbuildingsAcquired
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
       
Cash acquired upon purchase of SPCs                       108,600,000vlccf_CashAcquiredfromAssetAcquisition
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
     
Subsequent Event [Member] | Common Stock [Member] | Frontline 2012 [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Number of shares issued as consideration                       31,000,000us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonStockMember
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
     
Subsequent Event [Member] | Capital Addition Purchase Commitments [Member] | Frontline 2012 [Member]                              
Significant Acquisitions and Disposals [Line Items]                              
Noncash or Part Noncash Acquisition, Payables Assumed                       $ 404,000,000us-gaap_NoncashOrPartNoncashAcquisitionPayablesAssumed1
/ us-gaap_ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis
= vlccf_Frontline2012Member
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember
/ us-gaap_UnrecordedUnconditionalPurchaseObligationByCategoryOfItemPurchasedAxis
= us-gaap_CapitalAdditionsMember