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Capital lease obligations

12 Months Ended

Dec. 31, 2012

Capital Leases In Financial Statements Of Lessor Disclosure [Text Block]

17. Capital lease obligations:

The Company leases certain of its equipment under capital leases. Each lease contract generally has a term of four years with a purchase option. No specific restrictions or guarantee provisions are included in the arrangement.

Future payments on capital leases for the years ending December 31 are as follows:

(In thousands of U.S. dollars)	December 31,

2013		87
2014		87
2015		85
2016		13
Total		274
Less amounts representing interest		(18	)
Future payments on capital leases		256
Less current portion		77
Long term portion		179

Interest paid in the years ended December 31, 2010, 2011 and 2012 was approximately $9,000, $20,000 and $14,000, respectively.

- Definition

The entire disclosure for lessor's leasing arrangements, which includes direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease.

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