Subsequent Events

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

Note 21.  Subsequent Events

During the second quarter of 2014, we executed two indicative term sheets with lenders for the proposed refinancing of a 1999 International Flag PCTC vessel and the repurchase of a 2007 U.S. Flag PCTC vessel pursuant to a negotiated purchase option under its current operating lease. The 2007 PCTC vessel was previously sold and leased back to us in the first quarter of 2012. Both of the above transactions allows us to take advantage of attractive interest rates and extend the period of our payment obligations relating to these vessels.  As currently proposed, each of the new facilities would extend our payment maturities out to the third quarter of 2020 and 2021, respectively.  We expect to enter into definitive documents with respect to both of these facilities in the third quarter of 2014, but cannot provide any assurances to this effect.  

As previously disclosed, we are in the process of moving our Corporate Headquarters back to the city of New Orleans. In the first quarter of 2014, we purchased a historical building with plans to renovate and expand the facility. In order to finance a portion of the new construction, we have executed an indicative term sheet with a lender which grants us an option to convert the construction loan to a ten-year loan. We expect to enter intodefinitive loan documents by the end of the year, but cannot provide any assurances to this effect. We anticipate that the building renovation and expansion will be completed prior to the end of 2015.