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Subsequent Events
9 Months Ended
Sep. 30, 2019
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS
    
In October 2019, the Company, through its wholly-owned subsidiary, entered into a Memorandum of Agreement to sell to an unaffiliated third party, the 2001-built vessel Bulk Juliana for a sale price of $6.5 million before commissions. The loss on sale of the vessel upon completion of the transaction will be approximately $3.7 million. The Company expects to deliver the vessel to the new owner in late November 2019.    

In October 2019, the Company, through its wholly-owned subsidiary, entered into a Memorandum of Agreement to sell to an unaffiliated third party, the 1996-built vessel Bulk Patriot for a sale price of $4.5 million before commissions. The loss on sale of the vessel upon completion of the transaction will be approximately $4.9 million. The Company expects to deliver the vessel to the new owner in December 2019.

On November 7, 2019, the Company declared a quarterly cash dividend of $0.035 per common share.