Out of Period Adjustments	6 Months Ended
Jun. 30, 2012
Out of Period Adjustments [Abstract]
Out of Period Adjustments	Note 17. Out of Period Adjustments In July of 2011, Oslo Bulk, an entity in which we hold a 25% equity interest and account for under the equity method, entered into an interest rate swap to reduce its exposure to variable interest rates on its outstanding debt. At the inception of this swap, the related hedge documentation indicated that the swap did not qualify for hedge accounting. Therefore, we accounted for the derivative as an ineffective hedge and reported the change in fair value of the derivative in the statement of operations under the caption "Equity in Net (Loss) Income of Unconsolidated Entities" from inception of the swap to December 31, 2011. The ineffectiveness recorded in the third and fourth quarters of 2011 resulted in an aggregate loss of approximately $674,000. As of the filing of the Company's Form 10-K for the year ended December 31, 2011, Oslo Bulk's financial statement audit had not been completed and its auditors had not reached any final conclusions with respect to hedge effectiveness of the aforementioned swap. Oslo Bulk's 2011 financial statement audit was completed during the second quarter of 2012. In conjunction therewith, Oslo Bulk's auditors concluded that the interest rate swap did, in fact, qualify for hedge accounting and that all required documentation pertaining thereto existed at the inception of the swap. In light of this information, we recorded an out of period ("OOP") adjustment during the three months ended June 30, 2012 to correct the $674,000 of ineffectiveness that was previously recorded in 2011, and $42,000 in the first quarter of 2012. In conjunction with our evaluation of this OOP adjustment, we also recorded a $324,000 negative OOP adjustment related to net charter revenues that were not previously recorded on a straight-line basis in prior periods from 1999 to 2011, and a $239,000 positive OOP adjustment related to a gain from the termination of a lease and the subsequent purchase of one of our PCTC vessels in the third quarter of 2011. The net impact of these OOP adjustments was a positive $631,000 gain. We evaluated the impact of the OOP adjustments on the results of our previously issued financial statements for each of the periods affected and concluded that the impact was not material. Accordingly, we have not revised or restated our financial statements for any of our prior periods. We also evaluated the impact of correcting the cumulative effect of the OOP adjustments in the current year and concluded that the impact was not material to our projected results for 2012. Accordingly, a net adjustment of $631,000 was recorded to correct the OOP errors in the three month period ended June 30, 2012.

Note 17. Out of Period Adjustments

In July of 2011, Oslo Bulk, an entity in which we hold a 25% equity interest and account for under the equity method, entered into an interest rate swap to reduce its exposure to variable interest rates on its outstanding debt. At the inception of this swap, the related hedge documentation indicated that the swap did not qualify for hedge accounting. Therefore, we accounted for the derivative as an ineffective hedge and reported the change in fair value of the derivative in the statement of operations under the caption "Equity in Net (Loss) Income of Unconsolidated Entities" from inception of the swap to December 31, 2011. The ineffectiveness recorded in the third and fourth quarters of 2011 resulted in an aggregate loss of approximately $674,000. As of the filing of the Company's Form 10-K for the year ended December 31, 2011, Oslo Bulk's financial statement audit had not been completed and its auditors had not reached any final conclusions with respect to hedge effectiveness of the aforementioned swap. Oslo Bulk's 2011 financial statement audit was completed during the second quarter of 2012. In conjunction therewith, Oslo Bulk's auditors concluded that the interest rate swap did, in fact, qualify for hedge accounting and that all required documentation pertaining thereto existed at the inception of the swap. In light of this information, we recorded an out of period ("OOP") adjustment during the three months ended June 30, 2012 to correct the $674,000 of ineffectiveness that was previously recorded in 2011, and $42,000 in the first quarter of 2012. In conjunction with our evaluation of this OOP adjustment, we also recorded a $324,000 negative OOP adjustment related to net charter revenues that were not previously recorded on a straight-line basis in prior periods from 1999 to 2011, and a $239,000 positive OOP adjustment related to a gain from the termination of a lease and the subsequent purchase of one of our PCTC vessels in the third quarter of 2011. The net impact of these OOP adjustments was a positive $631,000 gain. We evaluated the impact of the OOP adjustments on the results of our previously issued financial statements for each of the periods affected and concluded that the impact was not material. Accordingly, we have not revised or restated our financial statements for any of our prior periods. We also evaluated the impact of correcting the cumulative effect of the OOP adjustments in the current year and concluded that the impact was not material to our projected results for 2012. Accordingly, a net adjustment of $631,000 was recorded to correct the OOP errors in the three month period ended June 30, 2012.