SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2012
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE AB – SUBSEQUENT EVENTS Preferred Shares On February 21, 2013 we received $23.75 million, net of underwriter fees (but excluding our other transaction expenses), from the public issuance of 250,000 public offering of shares of our 9.50% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares") at $100 per share. Dividends on the Series A Preferred Shares are cumulative from the date of original issue and will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, commencing April 30, 2013, when, as and if declared by our board of directors. Dividends will be payable out of amounts legally available therefore at an initial rate equal to 9.50% per annum per $100.00 of stated liquidation preference per share. Commencing on April 30, 2018, we may redeem, at our option, the Series A Preferred Shares, in whole or in part, at a cash redemption price of $100.00 per share, plus any accrued and unpaid dividends to, but not including, the redemption date. If at any time a "Change of Control," occurs, we will have the option to redeem the Series A Preferred Shares, in whole, within 120 days after the date of the Change of Control at the same cash redemption price. The Series A Preferred Shares have no stated maturity, will not be subject to any sinking fund or other mandatory redemption, and will not be convertible into or exchangeable for any of our other securities. Holders of the Series A Preferred Shares generally will have no voting rights except for limited voting rights if dividends payable on the outstanding Series A Preferred Shares are in arrears for six or more consecutive or non-consecutive quarters, and under certain other circumstances. Amended Charter Party On January 18, 2013, we received $11.8 million in prepaid charter hire revenues in exchange for reduced charter hire rates for the remaining two years of the time charter party performed by our conveyor-equipped self-unloading Coal Carrier.

NOTE AB – SUBSEQUENT EVENTS

Preferred Shares

On February 21, 2013 we received $23.75 million, net of underwriter fees (but excluding our other transaction expenses), from the public issuance of 250,000 public offering of shares of our 9.50% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares") at $100 per share.

Dividends on the Series A Preferred Shares are cumulative from the date of original issue and will be payable quarterly in arrears on the 30th day of January, April, July and October of each year, commencing April 30, 2013, when, as and if declared by our board of directors. Dividends will be payable out of amounts legally available therefore at an initial rate equal to 9.50% per annum per $100.00 of stated liquidation preference per share.

Commencing on April 30, 2018, we may redeem, at our option, the Series A Preferred Shares, in whole or in part, at a cash redemption price of $100.00 per share, plus any accrued and unpaid dividends to, but not including, the redemption date. If at any time a "Change of Control," occurs, we will have the option to redeem the Series A Preferred Shares, in whole, within 120 days after the date of the Change of Control at the same cash redemption price. The Series A Preferred Shares have no stated maturity, will not be subject to any sinking fund or other mandatory redemption, and will not be convertible into or exchangeable for any of our other securities.

Holders of the Series A Preferred Shares generally will have no voting rights except for limited voting rights if dividends payable on the outstanding Series A Preferred Shares are in arrears for six or more consecutive or non-consecutive quarters, and under certain other circumstances.

Amended Charter Party

On January 18, 2013, we received $11.8 million in prepaid charter hire revenues in exchange for reduced charter hire rates for the remaining two years of the time charter party performed by our conveyor-equipped self-unloading Coal Carrier.