LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2012

LONG-TERM DEBT [Abstract]

Schedule of long-term debt

Long-term debt at December 31 consisted of the following (in thousands):

	2012		2011
5.88% Title XI note payable, due March 2012, secured by the Gorilla VI	$	-	$	7,109
2.80% Title XI note payable, due October 2013, secured by the Gorilla VII		-		30,898
5% Senior Notes, due September 2017 ($400 million principal amount; 5.1% effective rate)		398,678		398,394
4.33% Title XI note payable, due May 2019, secured by the Scooter Yeargain		-		45,598
7.875% Senior Notes, due August 2019 ($500 million principal amount; 8.0% effective rate)		497,842		497,511
3.525% Title XI note payable, due May 2020, secured by the Bob Keller		-		50,801
3.158% Title XI note payable, due July 2021, secured by the Bob Palmer		-		104,047
4.875% Senior Notes, due June 2022 ($700 million principal amount; 4.6% effective rate)		714,775		-
5.4% Senior Notes, due December 2042 ($400 million principal amount; 5.4% effective rate)		398,303		-
Total long-term debt		2,009,598		1,134,358
Less: Current maturities		-		(45,023	)
Long-term debt, excluding current maturities	$	2,009,598	$	1,089,335