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Subsequent Events
9 Months Ended
Sep. 30, 2012
Subsequent Events [Abstract]  
Subsequent Events
Note 21.  Subsequent Events
 
$30 Million Credit Facility
On October 2, 2012, we entered into a commitment letter to receive a term loan from Capital One N. A. for up to $30 million.  We intend to use the proceeds of this facility to partially fund the acquisition of U.S. United Ocean Services, LLC and its membership interest from United Maritime Group, LLC.  Interest and principal shall be payable monthly in arrears based on a five (5) year straight line amortization schedule.  Receipt of funding under this term loan is subject to various closing conditions, including the preparation, execution and delivery of definitive loan documents.  
 
 UOS Purchase Agreement
On October 9, 2012, we entered into a definitive agreement (the "Purchase Agreement") with United Maritime Group, LLC ("UMG") to acquire a 100% ownership interest in U.S. United Ocean Services, LLC ("UOS"), a wholly-owned subsidiary of UMG. Pursuant to the terms and subject to the conditions set forth in the Purchase Agreement, UMG agreed to sell to us all of the issued and outstanding limited liability company interests of UOS for an aggregate purchase price of approximately $111 million cash. The purchase price is subject to certain adjustments set forth in the Purchase Agreement and related transaction documents.  We expect the transaction to close in the fourth quarter of 2012, subject to receipt of applicable regulatory clearances and satisfaction or waiver of other customary closing conditions.
 
PCTC Sale/Leaseback Firm Commitment
On October 19, 2012, we entered into a commitment letter with CapitalSource Bank to effect a Sale/Leaseback transaction on one of our U.S. Flag PCTCs operating in our "Time Charter Contracts-U.S. Flag" Segment.  The operational activities of this vessel will be unaffected by this tranaction.  Receipt of sales proceeds under this transaction is subject to various closing conditions, including the preparation, execution and delivery of definitive transaction documents.
 
PCTC Swap Transaction
On October 22, 2012, we completed the sale of one of our 1994 built U.S. Flag PCTCs operating in our "Time Charter Contracts-U.S. Flag" Segment.  With the sale and $3.5 million in cash we acquired a 1999-built International Flag PCTC.  Promptly after this swap we reflagged the vessel as a U.S. Flag vessel and deployed it in our "Time Charter Contracts-U.S. Flag" Segment under a charter through 2019.