Changes in Accounting Estimate	3 Months Ended
Changes in Accounting Estimate	Mar. 31, 2012
Changes in Accounting Estimate [Abstract]
Changes in Accounting Estimate	Note 7. Changes in Accounting Estimate Based on company policy, we review the reasonableness of our salvage values every three years, based on the most recent three year average price of scrap steel per metric ton. In the first quarter of 2012 we reviewed and adjusted the salvage values on eight of our vessels, based on what we believe was a material change in the market value of scrap steel. The adjustments resulted in increasing the salvage values and reducing our depreciation expense on these eight vessels by approximately $3.8 million annually. This adjustment increased both our pre-tax and net income by $945,000, or $0.13 per share, for the three months ended March 31, 2012. (Due to the company being in a valuation allowance position there is no impact on taxes.)

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

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