Annual report pursuant to Section 13 and 15(d)

Derivative Instruments And Hedging Strategies

Derivative Instruments And Hedging Strategies
12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments And Hedging Strategies
Cash Flow Hedges. RF Vessel Holdings has subsidiaries with interest rate swap agreements designated as cash flow hedges, with an aggregate amortizing notional value of $48.0 million that mature in March 2028. These interest rate swaps call for these subsidiaries to pay a fixed rate of 1.74% on the aggregate amortizing notional value and receive a variable interest rate based on LIBOR. By entering into these interest rate swap agreements, these subsidiaries converted the variable LIBOR component of certain of its outstanding borrowings to a fixed interest rate. During the year ended December 31, 2020, the Company recognized losses on the fair value of these contracts of $1.0 million which is included as a component of other comprehensive loss.