Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]

Components of Net Deferred Tax (Liability) Asset

		Year Ended December 31,
	(All Amounts in Thousands)		2013		2012
DEFERRED TAX LIABILITIES
	Fixed Assets	$	(10,067)	$	(7,576)
	Drydock Activities		(6,315)		(2,825)
	Intangibles/Goodwill		-		(173)
	Post-Retirement Benefits		(794)		(324)
	Total Deferred Tax Liabilities	$	(17,176)	$	(10,898)
DEFERRED TAX ASSETS
	Net Operating Loss Carryforwards	$	15,525	$	9,861
	Minimum Tax Credit		5,179		5,179
	Deferred Gain		2,374		2,524
	Pension/Postretirement		2,568		4,510
	Intangibles/Goodwill		586		-
	Insurance and Claims Reserve		76		411
	Work Opportunity Tax Credit		537		537
	Lease Incentives		508		546
	Other Assets		796		844
	Total Deferred Tax Assets	$	28,149	$	24,412
	Valuation Allowance		(869)		(13,514)
	Net Deferred Tax Assets	$	27,280	$	10,898
TOTAL DEFERRED TAX		$	10,104	$	-
DEFERRED TAX COMPONENTS
	Current	$	3,084	$	323
	Non-current		7,020		(323)
TOTAL DEFERRED TAX		$	10,104	$	-

Components Of Income Tax Provision (Benefit)

	Year Ended December 31,
(All Amounts in Thousands)		2013		2012		2011
Domestic	$	8,439	$	16,668	$	11,704
Foreign		(584)		5,352		20,935
Total	$	7,855	$	22,020	$	32,639
The components of the income tax provision (benefit) are as follows:
	Year Ended December 31,
		2013		2012		2011
Current	$	83	$	296	$	680
Deferred		(12,046)		(453)		-
Total	$	(11,963)	$	(157)	$	680

Reconciliation of U.S. Statutory Tax Rate

	Year Ended December 31,
	2013		2012		2011
Statutory Rate	35.0	%	35.0	%	35.0	%
State Income Taxes	3.5	%	0.1	%	0.1	%
Effect of Tonnage Tax Rate	(15.4)	%	(35.0)	%	(19.9)	%
Foreign Earnings - Indefinitely Reinvested	(12.4)	%	(6.9)	%	(26.2)	%
Change in Valuation Allowance	(178.3)	%	3.5	%	7.6	%
Foreign Income Taxes	(0.1)	%	0.9	%	1.8	%
E&P Limitations	15.0	%	1.6	%	3.6	%
Permanent Differences and Other, Primarily Non-deductible Expenditures	0.4	%	0.1	%	0.1	%
	(152.3)	%	(0.7)	%	2.1	%

Unrecognized Tax Benefits

		2013		2012
Total unrecognized tax benefits as of: January 1,	$	-	$	1,400
Increases in unrecognized tax benefits as a result of:
Tax positions taken during a prior year		349		-
Lapse of applicable statute of limitations		-		(1,400)
Total unrecognized tax benefits as of:  December 31,	$	349	$	-