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SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2011
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE Z – SUBSEQUENT EVENTS On February 22, 2012, Waterman sold a U.S. Flag PCTC for $59.0 million under a sale/leaseback arrangement. As a result, we now lease the vessel under a 10 year lease, with early buy-out options to repurchase the vessel in 2017 and 2019 and fair market value at 2022. From the proceeds of the aforementioned sale/leaseback, we paid off debt in 2012 of approximately $55.5 million, including $41.5 million related to a loan facility on this vessel.