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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Income taxes      
Ownership percentage held by each shareholder considered for entity to be publicly traded 5.00% 5.00% 5.00%
Federal tax rate (as a percent) 4.00%    
Taxable income $ (156,554) $ 26,453 $ 149,249
Income tax expense 1,222 1,385 1,840
Total revenue earned 3,294 3,285 1,249
Maximum
     
Income taxes      
Combined ownership held by 5% shareholders (as a percent) 50.00% 50.00% 50.00%
Percentage of shipping income attributable to transportation that begins or ends in the United States included in United States source shipping income 50.00%    
Vessel management services
     
Income taxes      
Taxable income 2,655 2,787 3,913
Income tax expense 1,194 1,351 1,762
Total revenue earned 6,110 6,309 6,739
Baltic Trading | Minimum
     
Income taxes      
Aggregate voting power held (as a percent) 50.00%    
Baltic Trading | United States
     
Income taxes      
Taxable income 1,379 3,062 2,541
Income tax expense 28 34 78
Intersegment elimination | Vessel management services
     
Income taxes      
Total revenue earned $ 2,816 $ 3,024 $ 5,490