|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
USDperLwt
|
Jun. 30, 2011
|
|
| Vessels, net | ||||
| Useful lives | 25 years | |||
| Depreciation expense | $ 3,679 | $ 3,679 | $ 7,359 | $ 7,314 |
| Estimated scrap value (per lwt) | 245 | |||
| Voyage expense recognition | ||||
| Net gain on purchase and sale of bunker fuel | $ 73 | $ 518 | $ 73 | $ 521 |
|
Computer equipment
|
||||
| Fixed assets, net | ||||
| Useful lives | 3 years | |||
|
Vessel equipment | Minimum
|
||||
| Fixed assets, net | ||||
| Useful lives | 2 years | |||
|
Vessel equipment | Maximum
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||||
| Fixed assets, net | ||||
| Useful lives | 15 years | |||