Investments, At Equity, And Advances To 50% Or Less Owned Companies
|3 Months Ended|
Mar. 31, 2019
|Equity Method Investments and Joint Ventures [Abstract]|
|Investments, At Equity, And Advances To 50% Or Less Owned Companies||
3. INVESTMENTS, AT EQUITY, AND ADVANCES TO 50% OR LESS OWNED COMPANIES
KSM. KSM operates four foreign-flag harbor tugs, one foreign-flag ocean liquid tank barge and one foreign-flag specialty vessel in Freeport, Grand Bahama. During the three months ended March 31, 2019, the Company earned $0.3 million for the bareboat charter of two foreign-flag harbor tugs to KSM.
Trailer Bridge. Trailer Bridge is an operator of U.S.-flag deck and RORO barges and provides marine transportation services between Jacksonville, Florida, San Juan, Puerto Rico and Puerto Plata, Dominican Republic. During the three months ended March 31, 2019, the Company earned $0.9 million for the time charter of one U.S.-flag offshore tug to Trailer Bridge.
SCF Bunge Marine. SCF Bunge Marine provides towing services on the U.S. Inland Waterways, primarily the Mississippi River, Illinois River, Tennessee River and Ohio River. During the three months ended March 31, 2019, the Company earned $1.6 million for the time charter of seven inland river towboats to SCF Bunge Marine.
Bunge-SCF Grain. Bunge-SCF Grain operates terminal grain elevators in Illinois. During the three months ended March 31, 2019, the Company earned $0.2 million for the lease of a terminal facility to Bunge-SCF Grain.
The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef