Rand Logistics (RLOG) Inactive 10-Q6 Feb 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Dec. 31, 2013	Feb. 05, 2014
Entity Registrant Name	'Rand Logistics, Inc.	'
Entity Central Index Key	'0001294250	'
Trading Symbol	'rlog	'
Entity Well-known Seasoned Issuer	'No	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Current Fiscal Year End Date	'--03-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	17,929,864
Document Type	'10-Q	'
Document Period End Date	31-Dec-13	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
CURRENT ASSETS	'	'
Cash and cash equivalents	$2,550	$848
Accounts receivable, net (Note 4)	17,848	5,486
Income tax receivable	113	113
Loan to Employees	250	250
Prepaid expenses and other current assets (Notes 5 and 8)	8,006	7,842
Deferred income taxes (Note 6)	262	262
Total current assets	29,029	14,801
PROPERTY AND EQUIPMENT, NET (Note 7)	204,107	219,084
OTHER ASSETS (Note 8)	828	1,050
DEFERRED INCOME TAXES (Note 6)	0	2,203
DEFERRED DRYDOCK COSTS, NET (Note 9)	9,564	10,895
INTANGIBLE ASSETS, NET (Note 10)	10,916	12,612
GOODWILL (Note 10)	10,193	10,193
Total assets	264,637	270,838
CURRENT LIABILITIES	'	'
Bank indebtedness (Note 12)	4,380	5,997
Accounts payable	11,154	21,697
Accrued liabilities (Note 13)	22,389	21,316
Deferred income taxes (Note 6)	0	173
Current portion of deferred payment liability (Note 11)	431	431
Current portion of long-term debt (Note 14)	4,465	3,630
Total current liabilities	42,819	53,244
LONG-TERM PORTION OF DEFERRED PAYMENT LIABILITY (Note 11)	1,287	1,631
LONG-TERM DEBT (Note 14)	133,942	139,760
OTHER LIABILITIES	253	253
DEFERRED INCOME TAXES (Note 6)	12,761	3,532
Total liabilities	191,062	198,420
COMMITMENTS AND CONTINGENCIES (Notes 15 and 16)	'	'
STOCKHOLDERS' EQUITY	'	'
Preferred stock, $.0001 par value, Authorized 1,000,000 shares, Issued and outstanding 300,000 shares (Note 17)	14,900	14,900
Common stock, $.0001 par value Authorized 50,000,000 shares, Issuable and outstanding 17,929,864 shares (Note 17)	1	1
Additional paid-in capital	89,459	89,077
Accumulated deficit	-29,506	-32,341
Accumulated other comprehensive (loss) income	-1,279	781
Total stockholders' equity	73,575	72,418
Total liabilities and stockholders' equity	$264,637	$270,838

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parentheticals) (USD $)	Dec. 31, 2013	Mar. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issuable	17,929,864	17,860,266
Common stock, shares outstanding	17,929,864	17,860,266
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	300,000	300,000
Preferred stock, shares outstanding	300,000	300,000

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
REVENUE	'	'	'	'
Freight and related revenue	$39,868	$37,345	$122,428	$112,712
Fuel and other surcharges	8,871	11,994	25,253	35,576
Outside voyage charter revenue	1,160	203	1,160	1,437
TOTAL REVENUE	49,899	49,542	148,841	149,725
EXPENSES	'	'	'	'
Outside voyage charter fees (Note 18)	1,060	202	1,060	1,447
Vessel operating expenses	32,744	34,695	97,035	99,838
Repairs and maintenance	77	110	1,012	767
General and administrative	2,947	3,145	9,023	9,290
Depreciation	4,264	4,075	12,844	11,186
Amortization of drydock costs	822	878	2,489	2,630
Amortization of intangibles	317	330	958	984
Loss (gain) on foreign exchange	-6	48	54	34
TOTAL EXPENSES	42,225	43,483	124,475	126,176
OPERATING INCOME	7,674	6,059	24,366	23,549
OTHER (INCOME) AND EXPENSES	'	'	'	'
Interest expense (Note 19)	2,215	2,705	6,949	7,645
Interest income	-3	-1	-6	-7
Gain on interest rate swap contracts (Note 21)	0	-282	0	-824
Loss on extinguishment of debt (Note 14)	0	0	0	3,339
TOTAL OTHER (INCOME) AND EXPENSES	2,212	2,422	6,943	10,153
(LOSS) INCOME BEFORE INCOME TAXES	5,462	3,637	17,423	13,396
PROVISION (RECOVERY) FOR INCOME TAXES (Note 6)	'	'	'	'
Current	0	-49	0	-49
Deferred	3,781	270	11,949	4,052
TOTAL PROVISION FOR INCOME TAXES	3,781	221	11,949	4,003
NET (LOSS) INCOME BEFORE PREFERRED STOCK DIVIDENDS	1,681	3,416	5,474	9,393
PREFERRED STOCK DIVIDENDS	906	804	2,639	2,344
NET (LOSS) INCOME APPLICABLE TO COMMON STOCKHOLDERS	$775	$2,612	$2,835	$7,049
Net (loss) income per share basic and diluted (Note 22) (in dollars per share)	$0.04	$0.15	$0.16	$0.40
Weighted average shares basic and diluted (in shares)	17,925,180	17,726,879	17,906,998	17,723,793

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]	'	'	'	'
NET (LOSS) INCOME BEFORE PREFERRED STOCK DIVIDENDS	$1,681	$3,416	$5,474	$9,393
Foreign currency translation adjustment	-1,352	-637	-2,060	-186
COMPREHENSIVE (LOSS) INCOME APPLICABLE TO COMMON STOCKHOLDERS	$329	$2,779	$3,414	$9,207

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (USD $)	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
In Thousands, except Share data, unless otherwise specified	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Balances at Mar. 31, 2012	$79,345	$1	$14,900	$87,853	($25,349)	$1,940
Balances (in shares) at Mar. 31, 2012	'	17,676,278	300,000	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net (loss) income	-3,819	'	'	'	-3,819	'
Preferred stock dividends	-3,173	'	'	'	-3,173	'
Stock issued in lieu of cash compensation (in shares)	'	94,993	0	'	'	'
Stock issued in lieu of cash compensation	559	0	0	559	0	0
Restricted stock issued (Note 17) (in shares)	'	78,141	0	'	'	'
Restricted stock issued (Note 17)	590	0	0	590	0	0
Unrestricted stock issued (Note 17) (in shares)	'	10,854	0	'	'	'
Unrestricted stock issued (Note 17)	75	0	0	75	0	0
Translation adjustment	-1,159	'	'	'	'	-1,159
Balances at Mar. 31, 2013	72,418	1	14,900	89,077	-32,341	781
Balances (in shares) at Mar. 31, 2013	'	17,860,266	300,000	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net (loss) income	2,578	'	'	'	2,578	'
Preferred stock dividends	-854	'	'	'	-854	'
Restricted stock issued (Note 17) (in shares)	'	54,337	0	'	'	'
Restricted stock issued (Note 17)	301	0	0	301	0	0
Unrestricted stock issued (Note 17) (in shares)	'	4,859	0	'	'	'
Unrestricted stock issued (Note 17)	26	0	0	26	0	0
Translation adjustment	-1,579	'	'	'	'	-1,579
Balances at Jun. 30, 2013	72,890	1	14,900	89,404	-30,617	-798
Balances (in shares) at Jun. 30, 2013	'	17,919,462	300,000	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net (loss) income	1,215	'	'	'	1,215	'
Preferred stock dividends	-879	'	'	'	-879	'
Unrestricted stock issued (Note 17) (in shares)	'	5,667	0	'	'	'
Unrestricted stock issued (Note 17)	27	0	0	27	0	0
Translation adjustment	871	'	'	'	'	871
Balances at Sep. 30, 2013	74,124	1	14,900	89,431	-30,281	73
Balances (in shares) at Sep. 30, 2013	'	17,925,129	300,000	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net (loss) income	1,681	'	'	'	1,681	'
Preferred stock dividends	-906	'	'	'	-906	'
Unrestricted stock issued (Note 17) (in shares)	'	4,735	0	'	'	'
Unrestricted stock issued (Note 17)	28	0	0	28	0	0
Translation adjustment	-1,352	'	'	'	'	-1,352
Balances at Dec. 31, 2013	$73,575	$1	$14,900	$89,459	($29,506)	($1,279)
Balances (in shares) at Dec. 31, 2013	'	17,929,864	300,000	'	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
NET (LOSS) INCOME BEFORE PREFERRED STOCK DIVIDENDS	$5,474	$9,393
Adjustments to reconcile net income to net cash provided by operating activities	'	'
Depreciation and amortization of drydock costs	15,333	13,816
Amortization of intangibles and deferred financing costs	1,364	1,662
Deferred income taxes	11,949	4,052
Gain on interest rate swap contracts	0	-824
Loss on extinguishment of debt (Note 14)	0	3,339
Equity compensation	382	453
Deferred drydock costs paid	-3,605	-3,726
Changes in operating assets and liabilities:	'	'
Accounts receivable	-12,362	-18,507
Prepaid expenses and other current assets	-164	-272
Accounts payable and accrued liabilities	-6,039	4,073
Other assets and liabilities	222	525
Income taxes payable (net)	0	-106
Net Cash Provided by (Used in) Operating Activities, Total	12,554	13,878
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Purchase of property and equipment	-6,123	-33,623
Net Cash Provided by (Used in) Investing Activities, Total	-6,123	-33,623
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Deferred payment liability obligation	-344	-321
Proceeds from long-term debt	0	15,298
Long-term debt repayment	-2,692	-3,707
Debt financing cost	-23	-2,140
Proceeds from bank indebtedness	17,415	24,015
Repayment of bank indebtedness	-18,795	-14,082
Net Cash Provided by (Used in) Financing Activities, Total	-4,439	19,063
EFFECT OF FOREIGN EXCHANGE RATES ON CASH	-290	-144
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,702	-826
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	848	5,563
CASH AND CASH EQUIVALENTS, END OF PERIOD	2,550	4,737
SUPPLEMENTAL CASH FLOW DISCLOSURE	'	'
Payments for interest	6,698	7,646
Unpaid purchases of property and equipment	1,067	1,394
Unpaid purchases of deferred drydock cost	2	19
Payment of income taxes	0	53
Capitalized interest	$0	$538

DESCRIPTION_OF_BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
DESCRIPTION OF BUSINESS	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
DESCRIPTION OF BUSINESS	'
	DESCRIPTION OF BUSINESS

	Rand Logistics, Inc. (the “Company”), a Delaware corporation, is a leading provider of bulk freight shipping services throughout the Great Lakes region. The Company believes that it is the only company providing significant domestic port-to-port services to both Canada and the United States in the Great Lakes region. The Company maintains this operating flexibility by operating both U.S. and Canadian flagged vessels in compliance with the Shipping Act, 1916, and the Merchant Marine Act, 1920, commonly referred to as the Jones Act in the U.S. and the Coasting Trade Act in Canada, respectively.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
SIGNIFICANT ACCOUNTING POLICIES	'
	SIGNIFICANT ACCOUNTING POLICIES

	Basis of presentation and consolidation

	The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America and include the accounts of Rand Finance Corp. (“Rand Finance”), Rand LL Holdings Corp. ("Rand LL Holdings") and Black Creek Shipping Holding Company, Inc. ("Black Creek Holdings"), wholly-owned subsidiaries of the Company, the accounts of Lower Lakes Towing Ltd. ("Lower Lakes"), Lower Lakes Transportation Company ("Lower Lakes Transportation") and Grand River Navigation Company, Inc. ("Grand River"), each of which is a wholly-owned subsidiary of Rand LL Holdings, Black Creek Shipping Company, Inc. ("Black Creek"), a wholly-owned subsidiary of Black Creek Holdings, and Lower Lakes Ship Repair Company Ltd. ("Lower Lakes Ship Repair"), a wholly-owned subsidiary of Lower Lakes.

	The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated. In the opinion of management, the interim financial statements contain all adjustments necessary (consisting of normal recurring accruals) to present fairly the financial information contained herein. Operating results for the interim period presented are not necessarily indicative of the results to be expected for a full year, in part due to the seasonal nature of the business. The comparative balance sheet amounts are derived from audited consolidated financial statements for the fiscal year ended and as at March 31, 2013. The statements and related notes have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the financial statements that were included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2013.


	Cash and cash equivalents

	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

	Accounts receivable and concentration of credit risk

	The majority of the Company’s accounts receivable are amounts due from customers and other accounts receivable, including insurance and Harmonized Sales Tax refunds. The majority of accounts receivable are due within 30 to 60 days and are stated at amounts due from customers net of an allowance for doubtful accounts. The Company extends credit to its customers based upon its assessment of their creditworthiness and past payment history. Accounts outstanding longer than the contractual payment terms are considered past due. The Company has historically had no significant bad debts. Interest is not accrued on outstanding receivables.

	2	SIGNIFICANT ACCOUNTING POLICIES (continued)

	Revenue and operating expenses recognition

	The Company generates revenues from freight billings under contracts of affreightment (voyage charters) generally on a rate per ton basis based on origin-destination and cargo carried. Voyage revenue is recognized ratably over the duration of a voyage based on the relative transit time in each reporting period when the following conditions are met: the Company has a signed contract of affreightment, the contract price is fixed or determinable and collection is reasonably assured. Included in freight billings are other fees such as fuel surcharges and other freight surcharges, which represent pass-through charges to customers for toll fees, lockage fees and ice breaking fees paid to other parties. Fuel surcharges are recognized ratably over the duration of the voyage, while freight surcharges are recognized when the associated costs are incurred. Freight surcharges are less than 5% of total revenue.

	Marine operating expenses such as crewing costs, fuel, tugs and insurance are recognized as incurred or consumed and thereby are recognized ratably in each reporting period. Repairs and maintenance and certain other insignificant costs are recognized as incurred.

	The Company subcontracts excess customer demand to other freight providers. Service to customers under such arrangements is transparent to the customer and no additional services are provided to customers. Consequently, revenues recognized for customers serviced by freight subcontractors are recognized on the same basis as described above. Costs for subcontracted freight providers, presented as “outside voyage charter fees” in the consolidated statements of operations, are recognized as incurred and therefore are recognized ratably over the voyage.

	The Company accounts for sales taxes imposed on its services on a net basis in the consolidated statements of operations.
	In addition, all revenues are presented on a gross basis.

	Vessel acquisitions

	Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for its initial voyage. Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels. Significant financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.

	Fuel and lubricant inventories

	Raw materials, fuel and certain operating supplies are accounted for on a first-in, first-out cost method (based on monthly averages). Raw materials and fuel are stated at the lower of actual cost (first-in, first-out method) or market. Operating supplies are stated at actual cost or average cost.

	Intangible assets and goodwill

	Intangible assets consist primarily of goodwill, deferred financing costs, trademarks, trade names and customer relationships and contracts. Intangible assets are amortized as follows:



	Trademarks and trade names	10 years straight-line
	Customer relationships and contracts	15 years straight-line

	Deferred financing costs are amortized on a straight-line basis over the term of the related debt, which approximates the effective interest method.


	2	SIGNIFICANT ACCOUNTING POLICIES (continued)

	Property and equipment

	Property and equipment are recorded at cost. Depreciation methods for property and equipment are as follows:



	Vessels	5 - 25 years straight-line
	Leasehold improvements	7 - 11 years straight-line
	Vehicles	20% declining-balance
	Furniture and equipment	20% declining-balance
	Computer equipment	45% declining-balance
Communication equipment	20% declining-balance

Impairment of fixed assets

Fixed assets (e.g. property and equipment) and finite-lived intangible assets (e.g. customer lists) are tested for impairment upon the occurrence of a triggering event that indicates the carrying value of such an asset or asset group (e.g. tugs and barges), might be no longer recoverable. Examples of such triggering events include a significant disposal of a portion of such assets, an adverse change in the market involving the business employing the related asset(s), a significant decrease in the benefits realized from an acquired business, difficulties or delays in integrating the business, and a significant change in the operations of an acquired business.

Once a triggering event has occurred, the recoverability test employed is based on whether the intent is to hold the asset(s) for continued use or to hold the asset(s) for sale. If the intent is to hold the asset(s) for continued use, the recoverability test involves a comparison of undiscounted cash flows excluding interest expense, against the carrying value of the asset(s) as an initial test. If the carrying value of such asset(s) exceeds the undiscounted cash flow, the asset(s) would be deemed to be impaired. Impairment would then be measured as the difference between the fair value of the fixed or amortizing intangible asset and the carrying value of such asset(s). The Company generally determines fair value by using the discounted cash flow method. If the intent is to hold the asset(s) for sale and certain other criteria are met (i.e. the asset(s) can be disposed of currently, appropriate levels of authority have approved the sale and there is an actively pursuing buyer), the impairment test is a comparison of the asset’s carrying value to its fair value less costs to sell. To the extent that the carrying value is greater than the asset’s fair value less costs to sell, an impairment loss is recognized for the difference. The Company has determined that there were no adverse changes in our markets or other triggering events that could affect the valuation of our assets during the nine month period ended December 31, 2013.


2	SIGNIFICANT ACCOUNTING POLICIES (continued)

Impairment of goodwill

The Company annually reviews the carrying value of goodwill to determine whether impairment may exist. In accordance with Accounting Standards Codification (“ASC”) 350 “Intangibles-Goodwill and Other” and Accounting Standards Update (“ASU”) 2011-08 Intangibles—Goodwill and Other (Topic 350) - Testing Goodwill for Impairment requires that goodwill and certain intangible assets be assessed annually for impairment using fair value measurement techniques. Specifically, goodwill impairment is determined using a three-step process. The first step of the goodwill impairment test is to perform a qualitative assessment before calculating the fair value of the reporting unit when testing goodwill for impairment. If the fair value of the reporting unit is determined, based on qualitative factors, to be more likely than not less than the carrying amount of the reporting unit, then entities are required to perform the two-step goodwill impairment test. The second step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The estimates of fair value of the Company’s two reporting units, which are the Company’s Canadian and US operations (excluding the parent), are determined using various valuation techniques with the primary techniques being a discounted cash flow analysis and peer analysis. A discounted cash flow analysis requires various judgmental assumptions, including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s forecast and long-term estimates. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The third step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. As of March 31, 2013, the Company conducted the qualitative assessment and determined that the fair value of its two reporting units exceeded their carrying amounts and the remaining two-step impairment testing was therefore not necessary. The Company has determined that there were no adverse changes in our markets or other triggering events that indicated that it is more likely than not that the fair value of our reporting units is less than the carrying value of our reporting units during the nine month period ended December 31, 2013.

Drydock costs

Drydock costs incurred during statutory Canadian and United States certification processes are capitalized and amortized on a straight-line basis over the benefit period, which is generally 60 months. Drydock costs include costs of work performed by third party shipyards and subcontractors and other direct expenses to complete the mandatory certification process.

Repairs and maintenance

The Company’s vessels require repairs and maintenance each year to ensure the fleet is operating efficiently during the shipping season. The majority of repairs and maintenance are completed in January, February, and March of each year when the vessels are inactive. The Company expenses such routine repairs and maintenance costs. Significant repairs to the Company’s vessels (whether owned or available to the Company under a time charter), such as major engine overhauls and major hull steel repairs, are capitalized and amortized over the remaining useful life of the upgrade or asset repaired, or the remaining lease term.


2	SIGNIFICANT ACCOUNTING POLICIES (continued)

Income taxes

The Company accounts for income taxes in accordance with ASC 740 “Income Taxes”, which requires the determination of deferred tax assets and liabilities based on the differences between the financial statement and income tax bases of tax assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is recognized, if necessary, to measure tax benefits to the extent that, based on available evidence, it is more likely than not that they will be realized.

The Company classifies interest expense related to income tax liabilities, when applicable, as part of the interest expense in its consolidated statements of operations rather than income tax expense. To date, the Company has not incurred material interest expenses or penalties relating to assessed taxation amounts.

There have been no recent examinations by the U.S. taxing authorities. Lower Lakes was examined by the Canadian taxing authority for the tax years 2009 and 2010 and such examination is now complete. This audit did not result in any material adjustments for such periods. The Company's primary U.S. state income tax jurisdictions are Illinois, Indiana, Michigan, Minnesota, Pennsylvania, Wisconsin, Ohio and New York and its only international jurisdictions are Canada and its province of Ontario. The following table summarizes the open fiscal tax years for each major jurisdiction:



Jurisdiction	Open Tax Years
Federal (USA)	2010 – 2013
Various states	2010 – 2013
Federal (Canada)	2009 – 2013
Ontario	2009 – 2013

Foreign currency translation

The Company uses the U.S. Dollar as its reporting currency. The functional currency of the Company's Canadian subsidiaries is the Canadian Dollar. The functional currency of the Company’s U.S. subsidiaries is the U.S. Dollar. Assets and liabilities denominated in foreign currencies are translated into U.S. Dollars at the rate of exchange at the balance sheet date, while revenue and expenses are translated at the average exchange rates prevailing during the respective month. Components of stockholders’ equity are translated at historical exchange rates. Exchange gains and losses resulting from translation are reflected in accumulated other comprehensive income or loss.

Advertising costs

The Company expenses all advertising costs as incurred. These costs are included in general and administrative costs and were insignificant during the periods presented.

Use of estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates used in the preparation of these financial statements include the assumptions used in determining the useful lives of long-lived assets, the assumptions used in determining whether assets are impaired, the assumptions used in determining the valuation allowance for deferred income tax assets and the assumptions used in stock based compensation awards. Actual results could differ from those estimates.


2	SIGNIFICANT ACCOUNTING POLICIES (continued)


Stock-based compensation

The Company recognizes compensation expense for all newly granted awards and awards modified, repurchased or cancelled based on fair value at the date of grant.

Financial instruments

The Company accounted for its two expired interest rate swap contracts on its term debt utilizing ASC 815 “Derivatives and Hedging”. All changes in the fair value of such swap contracts were recorded in earnings. The fair value of settlement costs, when the contracts were in place, were included in current liabilities on the consolidated balance sheets. No liability remains. Disclosure requirements of ASC 815 are disclosed in Note 21.

Fair value of financial instruments

ASC 820 “Fair Value Measurements and Disclosures” ("ASC 820") defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles and establishes a hierarchy that categorizes and prioritizes the inputs to be used to estimate fair value. The three levels of inputs used are as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities.
Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.
Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The disclosure requirements of ASC 820 related to the Company’s financial assets and liabilities are presented in Note 21.

RECENTLY_ISSUED_PRONOUNCEMENTS

RECENTLY ISSUED PRONOUNCEMENTS	9 Months Ended
RECENTLY ISSUED PRONOUNCEMENTS	Dec. 31, 2013
Accounting Changes and Error Corrections [Abstract]	'
RECENTLY ISSUED PRONOUNCEMENTS	'
	RECENTLY ISSUED PRONOUNCEMENTS


	Disclosures about offsetting assets and liabilities
	In December 2011, the FASB issued ASU No. 2011-11, "Disclosures about offsetting assets and liabilities" ("ASU 2011-11"). ASU 2011-11 requires entities to disclose information about offsetting and related arrangements to enable users of financial statements to understand the effect of those arrangements on an entity's financial position. ASU 2011-11 requires enhanced disclosure by requiring improved information about financial instruments and derivative instruments that are either (i) offset in accordance with current literature or (ii) subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in accordance with current literature. ASU 2011-11 is effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The Company adopted ASU 2010-11 as of April 1, 2013. Such adoption had no impact on the Company's consolidated financial statements.
	3. RECENTLY ISSUED PRONOUNCEMENTS (continued)

	Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity

	In March 2013, the FASB issued ASU 2013-05 Topic 830 - Foreign Currency Matters (“ASU 2013-05”). ASU 2013-05 resolves the diversity in practice about whether Subtopic 810-10, Consolidation-Overall, or Subtopic 830-30, ASU 2013-05 applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. In addition, the amendments in ASU 2013-05 resolve the diversity in practice for the treatment of business combinations achieved in stages (sometimes referred to as step acquisitions) involving a foreign entity. The amendments in ASU 2013-05 are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company does not expect the adoption of ASU 2013-05 to have a material effect on the Company's consolidated financial statements.

	Presentation of Unrecognized Tax Benefits

	In July 2013, the FASB issued ASU 2013-11, "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss ("NOL") Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists" ("ASU 2013-11"). ASU 2013-11 requires an unrecognized tax benefit to be presented as a reduction to a deferred tax asset in the financial statements for an NOL carryforward, a similar tax loss, or a tax credit carryforward except in circumstances when the carryforward or tax loss is not available at the reporting date under the tax laws of the applicable jurisdiction to settle any additional income taxes or the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purposes. When those circumstances exist, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The new financial statement presentation provisions relating to this update are prospective and effective for interim and annual periods beginning after December 15, 2013, with early adoption permitted. The Company does not anticipate a material impact to the consolidated financial statements related to this guidance.

ACCOUNTS_RECEIVABLE

ACCOUNTS RECEIVABLE	9 Months Ended
ACCOUNTS RECEIVABLE	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]	'
ACCOUNTS RECEIVABLE	'
	ACCOUNTS RECEIVABLE

	Trade receivables are presented net of an allowance for doubtful accounts. The allowance was $15 as of December 31, 2013 and $49 as of March 31, 2013. The Company manages and evaluates the collectability of its trade receivables as follows: management reviews aged accounts receivable listings and contact is made with customers that have extended beyond agreed upon credit terms. Senior management and operations are notified so that when they are contacted by such customers for a future delivery, they can request that the customer pay any past due amounts before any future cargo is booked for shipment. Customer credit risk is also managed by reviewing the history of payments by the customer, the size and credit quality of the customer, the period of time remaining within the shipping season and demand for future cargos.

PREPAID_EXPENSES_AND_OTHER_CUR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	9 Months Ended
	Dec. 31, 2013
Prepaid Expense and Other Assets, Current [Abstract]	'
PREPAID EXPENSES AND OTHER CURRENT ASSETS	'
	PREPAID EXPENSES AND OTHER CURRENT ASSETS

	Prepaid expenses and other current assets are comprised of the following:



		December 31, 2013		March 31, 2013
	Prepaid insurance	$	332	$	334

	Fuel and lubricants	5,315		5,063

	Deposits and other prepaids	2,359		2,445

		$	8,006	$	7,842

INCOME_TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	INCOME TAXES

	The Company's effective tax rate was a deferred tax expense of 68.6% for the nine month period ended December 31, 2013 compared to a tax expense of 29.9% for the nine month period ended December 31, 2012. The increase in effective tax rate was primarily due to changes in permanent differences, discrete items and the magnitude of the forecasted full year permanent differences compared to the forecasted full year income before income taxes for the year ending March 31, 2014.
	The effective tax rate for the nine month period ended December 31, 2013 was higher than the statutory tax rate due to the comparative magnitude of the domestic permanent differences, which primarily include imputed interest, partially offset by foreign earnings being subject to a lower statutory tax rate.
	The Company had no unrecognized tax benefits as of December 31, 2013. The Company did not incur any income tax related interest expense or penalties related to uncertain tax positions during each of the nine month periods ended December 31, 2013 and December 31, 2012.

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'
PROPERTY AND EQUIPMENT	'
	PROPERTY AND EQUIPMENT

	Property and equipment are comprised of the following:




		December 31, 2013		March 31, 2013
	Cost
	Vessels	$	260,926	$	264,685

	Leasehold improvements	3,775		3,779

	Furniture and equipment	529		494

	Vehicles	20		21

	Computer, communication equipment and purchased software	2,886		2,912

		$	268,136	$	271,891

	Accumulated depreciation

	Vessels	$	60,102	$	49,404

	Leasehold improvements	1,841		1,496

	Furniture and equipment	238		200

	Vehicles	13		13

	Computer, communication equipment and purchased software	1,835		1,694

		64,029		52,807

		$	204,107	$	219,084

OTHER_ASSETS

OTHER ASSETS	9 Months Ended
	Dec. 31, 2013
Other Assets [Abstract]	'
OTHER ASSETS	'
	OTHER ASSETS

	Other assets includes certain customer contract related expenditures, which are amortized over a five year period.


		December 31, 2013		March 31, 2013
	Customer contract costs	$	884	$	1,156

	Prepaid expenses and other assets	7,950		7,736

	Total	$	8,834	$	8,892


	Current portion	8,006		7,842


	Other long term assets	$	828	$	1,050

DEFERRED_DRYDOCK_COSTS

DEFERRED DRYDOCK COSTS	9 Months Ended
	Dec. 31, 2013
Deferred Drydock Costs [Abstract]	'
DEFERRED DRYDOCK COSTS	'
	DEFERRED DRYDOCK COSTS

	Deferred drydock costs are comprised of the following:



		December 31, 2013			March 31, 2013
	Drydock expenditures	$	16,410		$	19,477

	Accumulated amortization	(6,846		)	(8,582		)
		$	9,564		$	10,895


	The following table shows periodic deferrals of drydock costs and amortization.



	Balance as of March 31, 2012	$	9,879

	Drydock costs accrued	4,656

	Amortization of drydock costs	(3,497		)
	Foreign currency translation adjustment	(143		)
	Balance as of March 31, 2013	$	10,895

	Drydock costs accrued	1,411

	Amortization of drydock costs	(2,489		)
	Foreign currency translation adjustment	(253		)
	Balance as of December 31, 2013	$	9,564

INTANGIBLE_ASSETS_AND_GOODWILL

INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
INTANGIBLE ASSETS AND GOODWILL	'
	INTANGIBLE ASSETS AND GOODWILL

	Intangibles are comprised of the following:



		December 31, 2013		March 31, 2013
	Intangible assets:
	Deferred financing costs	$	2,097	$	2,120

	Trademarks and trade names	977		1,010

	Customer relationships and contracts	17,350		17,926

	Total identifiable intangibles	$	20,424	$	21,056

	Accumulated amortization:

	Deferred financing costs	$	708	$	309

	Trademarks and trade names	765		715

	Customer relationships and contracts	8,035		7,420

	Total accumulated amortization	9,508		8,444

	Net intangible assets	$	10,916	$	12,612

	Goodwill	$	10,193	$	10,193



	Intangible asset amortization over the next five years is estimated as follows:

	Twelve month period ending:


	31-Dec-14	$	1,789

	31-Dec-15	1,789

	31-Dec-16	1,493

	31-Dec-17	1,157

	31-Dec-18	1,157

		$	7,385

VESSEL_ACQUISITIONS

VESSEL ACQUISITIONS	9 Months Ended
	Dec. 31, 2013
Vessel Acquisitions [Abstract]	'
VESSEL ACQUISITIONS	'
	VESSEL ACQUISITIONS

	On February 11, 2011, Black Creek and Black Creek Holdings entered into, and consummated the transactions contemplated by, an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Reserve Holdings, LLC (“Reserve”), and Buckeye Holdings, LLC (“Buckeye” and, together with Reserve, the “Sellers”). Under the Asset Purchase Agreement, Black Creek purchased two articulated tug/barge units (the “Vessels”) for consideration consisting of (i) $35,500 cash paid at closing, (ii) $3,600 cash to be paid by Black Creek Holdings in 72 monthly installments of $50 beginning on April 15, 2011 (the "Deferred Payments"); (iii) a promissory note of Black Creek Holdings in the principal amount of $1,500 (the “Note”), as described below; and (iv) 1,305,963 shares of the Company’s common stock (the “Shares”).


	11	VESSEL ACQUISITIONS (continued)

	The estimated fair values of assets acquired were as follows:



	Current assets	$	94

	Property and equipment	45,000

	Other identifiable intangible assets	1,836

		$	46,930


	The Asset Purchase Agreement provided for the Sellers to use their commercially reasonable efforts to seek the consent to the assignment to Black Creek of certain vessel transportation agreements pursuant to which the Sellers and their affiliates provide freight transportation services to third parties (each such agreement, a “VTA”). As of March 31, 2011, all of the VTAs had been assigned to Black Creek. The Asset Purchase Agreement also provided for Black Creek to assume the Sellers’ and their affiliates’ obligations relating to winter work and maintenance that was being performed on the Vessels at the time of their acquisition.
	The Note, dated February 11, 2011, bore interest at a rate of 6% per annum, and all principal and interest thereon was due and paid on December 15, 2011.
	On February 11, 2011, the Company entered into a guaranty (the “Guaranty”) to and for the benefit of each of the Sellers pursuant to which the Company guaranteed Black Creek Holdings’ obligation to make the Deferred Payments and its obligations under the Note.
	The acquisition of the Vessels was financed in part by the Black Creek credit agreement described in Note 14 and the issuance of the Shares.
	On July 21, 2011, Lower Lakes completed the acquisition of the MARITIME TRADER (the "Trader"), a Canadian-flagged dry bulk carrier, pursuant to the terms of an asset purchase agreement, dated as of July 8, 2011, by and between the Company and Marcon International Inc., in its capacity as court-appointed seller of the Trader. Pursuant to the terms of such asset purchase agreement, Lower Lakes’ acquisition of the Trader was subject only to the final approval of the Federal Court of Canada, which approval was granted on July 15, 2011. Lower Lakes purchased the Trader for an aggregate purchase price of CDN $2,667 with borrowings under the Canadian term loan. Following its acquisition, the Trader was renamed the MANITOBA.
	On October 14, 2011, Lower Lakes completed the acquisition of the bulk carrier TINA LITRICO (the "Tina"), pursuant to the terms of an Asset Purchase Agreement, dated as of September 21, 2011, by and among Lower Lakes, Grand River and U.S. United Ocean Service, LLC ("USUOS"). Lower Lakes purchased the Tina for $5,250, plus the value of the remaining bunkers and unused lubricating oils on board the Tina at the closing of the acquisition. The acquisition was funded by the proceeds from the equity offering described in Note 17. Following its acquisition, the Tina was renamed the TECUMSEH.
	On December 1, 2011, Grand River entered into, and consummated the transactions contemplated by, an Asset Purchase Agreement (the “Barge Agreement”) with U.S. Bank National Association, as Trustee of the GTC Connecticut Statutory Trust, pursuant to which Grand River acquired a self-unloading barge MARY TURNER (the “Barge”). The purchase price for the Barge, together with the related stores and equipment, was $11,954 plus the value of the remaining bunkers and unused lubricating oils onboard the Barge at the closing of the acquisition. Following its acquisition, the Barge was renamed the ASHTABULA.
	Also on December 1, 2011, Grand River completed the acquisition of a tug BEVERLY ANDERSON (the “Tug”), pursuant to the terms of an Asset Purchase Agreement, dated as of September 21, 2011 (the “Tug Agreement”), by and between Grand River and USUOS. Grand River purchased the Tug for $7,796 plus the value of the remaining bunkers and unused lubricating oils on board the Tug at the closing of the acquisition. Following its acquisition, the Tug was renamed the DEFIANCE.
	The acquisitions of the Barge and the Tug were funded with additional borrowings under the US term loan as described in Note 14.

BANK_INDEBTEDNESS

BANK INDEBTEDNESS	9 Months Ended
BANK INDEBTEDNESS	Dec. 31, 2013
Line of Credit Facility [Abstract]	'
BANK INDEBTEDNESS	'
	BANK INDEBTEDNESS

	As discussed in detail in Note 14, on August 30, 2012, Lower Lakes, Lower Lakes Transportation, Grand River and Black Creek, as borrowers, and Rand LL Holdings, Rand Finance, Black Creek Holdings and the Company, as guarantors, entered into a Third Amended and Restated Credit Agreement (the “Third Amended and Restated Credit Agreement”) with General Electric Capital Corporation, as agent and a lender, and certain other lenders, which amends and restates the Second Amended and Restated Credit Agreement (the “Second Amended and Restated Credit Agreement”) entered on September 28, 2011, as the same was amended from time to time. Also, on March 29, 2013, the Company entered into a First Amendment (the “First Amendment”) to the Third Amended and Restated Credit Agreement, which amendment is also discussed in Note 14.

	As of December 31, 2013 and March 31, 2013, the Company had authorized operating lines of credit under the Third Amended and Restated Credit Agreement in the amounts of CDN $13,500 and US $13,500, and was utilizing CDN $2,000 as of December 31, 2013 and CDN $2,925 as of March 31, 2013 and US $2,500 as of December 31, 2013 and $3,118 as of March 31, 2013, and maintained letters of credit of CDN $100 as of December 31, 2013 and March 31, 2013.

	The Third Amended and Restated Credit Agreement provides that the line of credit bears interest, at the borrowers' option, at Canadian Prime Rate plus 3.75% or Canadian 30 day BA rate plus 4.75% on Canadian Dollar borrowings, and the U.S. Base rate plus 3.75% or LIBOR plus 4.75% on U.S. Dollar borrowings, compared to a Canadian Prime Rate plus 3.5% or Canadian 30 day BA rate plus 4.5% on Canadian Dollar borrowings and a U.S. Base rate plus 3.5% or LIBOR plus 4.5% on U.S. Dollar borrowings through August 30, 2012 under the Second Amended and Restated Credit Agreement, and is subject to the terms and conditions described in Note 14. Available collateral for borrowings and letters of credit are based on eligible accounts receivable, which are limited to 85% of those receivables that are not over 90 days old, not in excess of 20%-30% per customer in each line and certain other standard limitations. As of December 31, 2013, the Company had credit availability of US $10,569 on the combined lines of credit based on eligible receivables and the seasonal overadvance facilities.

ACCRUED_LIABILITIES

ACCRUED LIABILITIES	9 Months Ended
	Dec. 31, 2013
Payables and Accruals [Abstract]	'
ACCRUED LIABILITIES	'
	ACCRUED LIABILITIES

	Accrued liabilities are comprised of the following:



		December 31, 2013		March 31, 2013
	Deferred financing and other transaction costs	$	—	$	26

	Payroll compensation and benefits	2,777		1,926

	Preferred stock dividends	16,095		13,456

	Professional fees	382		385

	Interest	655		754

	Winter work, deferred drydock expenditures and capital expenditures	63		2,438

	Capital and franchise taxes	57		113

	Other	2,360		2,218

		$	22,389	$	21,316

LONGTERM_DEBT

LONG-TERM DEBT	9 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
LONG-TERM DEBT	'
	LONG-TERM DEBT




			December 31, 2013		March 31, 2013
	a)	Canadian term loan bearing interest at Canadian Prime rate plus 3.75% (3.75% at March 31, 2013) or Canadian BA rate plus 4.75% (4.75% at March 31, 2013) at the Company’s option. The loan is repayable until August 1, 2016 with quarterly payments of CDN $331 commencing December 1, 2012, increasing to CDN $662 commencing December 1, 2014 and the balance due August 1, 2016.	$	48,255	$	51,493



	b)	Grand River US term loan bearing interest at LIBOR rate plus 4.75% (4.75% at March 31, 2013) or US base rate plus 3.75% (3.75% at March 31, 2013) at the Company’s option. The loan is repayable until August 1, 2016 with quarterly payments of US $401 commencing December 1, 2012, increasing to US $802 commencing December 1, 2014 and the balance due on August 1, 2016. Such term loan is collateralized by the existing and newly acquired assets of Lower Lakes, Grand River, Lower Lakes Transportation and Black Creek.	62,123		63,325



	c)	Black Creek US term loan bearing interest at LIBOR rate plus 4.75% (4.75% at March 31, 2013) or US base rate plus 3.75% (3.75% at March 31, 2013) at the Company’s option. The loan is repayable until August 1, 2016 with quarterly payments of US $181 commencing December 1, 2012, increasing to US $362 commencing December 1, 2014, and the balance due August 1, 2016. Such term loan is collateralized by the existing and newly acquired assets of Lower Lakes, Grand River, Lower Lakes Transportation and Black Creek.	28,029		28,572

			$	138,407	$	143,390

		Less amounts due within 12 months	4,465		3,630

			$	133,942	$	139,760



	The effective interest rates on the term loans at December 31, 2013, including the effect from the expired interest rate swap contracts, were 6.03% (6.03% at March 31, 2013) on the Canadian term loan, and 4.99% (5.88% at March 31, 2013) on the Grand River US term loan and Black Creek US term loan. The actual interest rates charged without the effect of interest rate swap contracts were 6.03% (6.04% at March 31, 2013) on the Canadian term loan, 4.99% (5.04% at March 31, 2013) on the Grand River US term loan, and 4.99% (5.04% at March 31, 2013) on the Black Creek US term loan.


	Principal payments are due as follows:

	Twelve month period ending:


	31-Dec-14	$	4,465

	31-Dec-15	7,144

	31-Dec-16	126,798

		$	138,407


	14	LONG-TERM DEBT (continued)

	On August 30, 2012, Lower Lakes, Lower Lakes Transportation, Grand River and Black Creek, as borrowers, Rand LL Holdings, Rand Finance, Black Creek Holdings and the Company, as guarantors, General Electric Capital Corporation, as agent and Lender, and certain other lenders, entered into the Third Amended and Restated Credit Agreement which (i) amends and restates the Second Amended and Restated Credit Agreement in its entirety, (ii) continues the tranches of loans provided for under the Second Amended and Restated Credit Agreement, (iii) refinances the indebtedness of Black Creek under its existing credit facility and adds Black Creek as a U.S. Borrower, (iv) provides for certain new loans and (v) provides working capital financing, funds for other general corporate purposes and funds for other permitted purposes. The Third Amended and Restated Credit Agreement provides for (i) a revolving credit facility including letters of credit under which Lower Lakes may borrow up to CDN $13,500 with a seasonal overadvance facility of US $12,000, less the principal amount outstanding under the seasonal overadvance facility for Lower Lakes Transportation, and a swing line facility of CDN $4,000, subject to limitations, (ii) a revolving credit facility under which Lower Lakes Transportation may borrow up to US $13,500 with a seasonal overadvance facility of US $12,000, less the principal amount outstanding under the seasonal overadvance facility for Lower Lakes, and a swing line facility of US $50, subject to limitations, (iii) the modification and continuation of an existing Canadian dollar denominated term loan facility under which Lower Lakes is obligated to the Lenders in the amount of CDN $52,979 as of the date of the Third Amended and Restated Credit Agreement (“CDN Term Loan”), (iv) the modification and continuation of a US dollar denominated term loan facility under which Grand River is obligated to the Lenders in the amount of $64,127 as of the date of the Third Amended and Restated Credit Agreement (“Grand River Term Loan”) and (v) a US dollar denominated term loan facility under which Black Creek is obligated to Lenders in the amount of $28,934 as of the date of the Third Amended and Restated Credit Agreement (“Black Creek Term Loan”).

	Under the Third Amended and Restated Credit Agreement, the revolving credit facilities and swing line loans expire on August 1, 2016. The outstanding principal amount of the CDN Term Loan borrowings is repayable as follows: (i) quarterly payments of CDN $331 commencing December 1, 2012 and ending September 2014, (ii) quarterly payments of CDN $662 commencing December 1, 2014 and ending June 1, 2016 and (iii) a final payment in the outstanding principal amount of the CDN Term Loan upon the CDN Term Loan's maturity on August 1, 2016. The outstanding principal amount of the Grand River Term Loan borrowings is repayable as follows: (i) quarterly payments of US $401 commencing December 1, 2012 and ending on September 1, 2014, (ii) quarterly payments of US $802 commencing December 1, 2014 and ending June 1, 2016 and (iii) a final payment in the outstanding principal amount of the Grand River Term Loan upon the Grand River Term Loan's maturity on August 1, 2016. The outstanding principal amount of the Black Creek Term Loan borrowings is repayable as follows: (i) quarterly payments of US $181 commencing quarterly December 1, 2012 and ending September 1, 2014, (ii) quarterly payments of US $362 commencing December 1, 2014 and ending June 1, 2016 and (iii) a final payment in the outstanding principal amount of the Black Creek Term Loan upon the Black Creek Term Loan's maturity on August 1, 2016.

	Borrowings under the Canadian revolving credit facility, Canadian swing line facility and the CDN Term Loan bear an interest rate per annum, at the borrowers' option, equal to (i) the Canadian Prime Rate (as defined in the Third Amended and Restated Credit Agreement), plus 3.75% per annum or (ii) the BA Rate (as defined in the Third Amended and Restated Credit Agreement) plus 4.75% per annum. Borrowings under the US revolving credit facility, US swing line facility and the Grand River Term Loan and Black Creek Term Loan bear interest, at the borrowers' option equal to (i) LIBOR (as defined in the Third amended and Restated Credit Agreement) plus 4.75% per annum, or (ii) the US Base Rate (as defined in the Third Amended and Restated Credit Agreement), plus 3.75% per annum. Obligations under the Third Amended and Restated Credit Agreement are secured by (i) a first priority lien and security interest on all of the borrowers' and guarantors' assets, tangible or intangible, real, personal or mixed, existing and newly acquired, (ii) a pledge by Rand LL Holdings of all of the outstanding capital stock of the borrowers other than Black Creek; (iii) a pledge by Black Creek Holdings of most of the outstanding capital stock of Black Creek; and (iv) a pledge by Rand of all of the outstanding capital stock of Rand LL Holdings, Rand Finance and Black Creek Holdings. The indebtedness of each borrower under the Third Amended and Restated Credit Agreement is unconditionally guaranteed by each other borrower and by the guarantors, and such guaranty is secured by a lien on substantially all of the assets of each borrower and each guarantor.


	14	LONG-TERM DEBT (continued)

	Under the Third Amended and Restated Credit Agreement, the borrowers are required to make mandatory prepayments of principal on term loan borrowings (i) if the outstanding balance of the term loans plus the outstanding balance of the seasonal facilities exceeds the sum of 75% of the fair market value of the vessels owned by the borrowers, less the amount of outstanding liens against the vessels with priority over the lenders' liens, in an amount equal to such excess, (ii) in the event of certain dispositions of assets and insurance proceeds (all subject to certain exceptions), in an amount equal to 100% of the net proceeds received by the borrowers therefrom, and (iii) in an amount equal to 100% of the net proceeds to a borrower from any issuance of a borrower's debt or equity securities.

	The Third Amended and Restated Credit Agreement contains certain covenants, including those limiting the guarantors', the borrowers' and their subsidiaries' ability to incur indebtedness, incur liens, sell or acquire assets or businesses, change the nature of their businesses, engage in transactions with related parties, make certain investments or pay dividends. In addition, the Third Amended and Restated Credit Agreement requires the borrowers to maintain certain financial ratios. Failure of the borrowers or the guarantors to comply with any of these covenants or financial ratios could result in the loans under the Third Amended and Restated Credit Agreement being accelerated.

	As a result of the execution of the Third Amended and Restated Credit Agreement discussed above, the Company recognized a loss on extinguishment of debt of $3,339 during the fiscal year ended March 31, 2013, that consisted of the unamortized deferred financing costs in connection with previously existing financing arrangements.
	On March 29, 2013, the Company entered into a First Amendment to the Third Amended and Restated Credit Agreement that modified such agreement's Minimum Fixed Charge Coverage Ratio, Minimum EBITDA, Maximum Senior Funded Debt to EBITDA Ratio and Maximum Capital Expenditures covenants and the definitions of EBITDA and Fixed Charge Coverage Ratio. As of December 31, 2013, the Company was in compliance with covenants contained in the Third Amended and Restated Credit Agreement, as amended.

	On September 28, 2011, Lower Lakes, Lower Lakes Transportation and Grand River, as borrowers, Rand LL Holdings, Rand Finance and the Company, as guarantors, entered into the Second Amended and Restated Credit Agreement with General Electric Capital Corporation, as agent and a lender, and certain other lenders, which amended and restated the Amended and Restated Credit Agreement, as amended, in its entirety.
	The Second Amended and Restated Credit Agreement continued the tranches of loans provided under the Amended and Restated Credit Agreement, and provided working capital financing, funds for other general corporate purposes and funds for other permitted purposes. The Second Amended and Restated Credit Agreement provided for (i) a revolving credit facility under which Lower Lakes was able to borrow up to CDN $13,500 with a seasonal overadvance facility of US $10,000, less the principal amount outstanding under the seasonal overadvance facility for Lower Lakes Transportation and a swing line facility of CDN $4,000 subject to limitations, (ii) a revolving credit facility under which Lower Lakes Transportation was able to borrow up to US $13,500 with a seasonal over advance facility of US $10,000, less the principal amount outstanding under the seasonal overadvance facility for Lower Lakes and a swing line facility of US $4,000, subject to limitations, (iii) a Canadian dollar denominated term loan facility under which Lower Lakes was obligated to the lenders in the amount of CDN $56,133 as of the date of the Second Amended and Restated Credit Agreement, (iv) the continuation of a US dollar denominated term loan facility under which Grand River was obligated to the lenders in the amount of US $17,233 as of the date of the Second Amended and Restated Credit Agreement, and (v) the continuation of a Canadian Dollar denominated “Engine” term loan facility under which Lower Lakes was obligated to the lenders in the amount of CDN $6,267 as of the date of the Second Amended and Restated Credit Agreement.

	14	LONG-TERM DEBT (continued)

Under the Second Amended and Restated Credit Agreement, the revolving credit facilities and swing line loans were to expire on April 1, 2015. The outstanding principal amount of the Canadian term loan borrowings were repayable as follows: (i) quarterly payments of CDN $936 commencing December 1, 2011 and ending March 1, 2015 and (ii) a final payment in the outstanding principal amount of the Canadian term loan payable upon the Canadian term loan facility's maturity on April 1, 2015. The outstanding principal amount of the US term loan borrowings were repayable as follows: (i) quarterly payments of US $367 commencing December 1, 2011 and ending on March 1, 2015 and (ii) a final payment in the outstanding principal amount of the US term loan payable upon the US term loan facility's maturity on April 1, 2015. The outstanding principal amount of the Canadian “Engine” term loan borrowings were repayable as follows: (i) quarterly payments of CDN $133 commencing quarterly December 1, 2011 and ending March 1, 2015 and (ii) a final payment in the outstanding principal amount of the Engine term loan payable upon the Engine term loan facility's maturity on April 1, 2015.
Borrowings under the Canadian revolving credit facility, Canadian swing line facility and the Canadian term loan bore an interest rate per annum, at the borrowers' option, equal to (i) the Canadian Prime Rate (as defined in the Second Amended and Restated Credit Agreement), plus 3.50% per annum or (ii) the BA Rate (as defined in the Second Amended and Restated Credit Agreement) plus 4.50% per annum. Borrowings under the US revolving credit facility, US swing line facility and the US term loan bore interest, at the borrowers' option equal to (i) LIBOR (as defined in the Second amended and Restated Credit Agreement) plus 4.50% per annum, or (ii) the US Base Rate (as defined in the Second Amended and Restated Credit Agreement), plus 3.50% per annum. Borrowings under the Canadian “Engine” term loan bore an interest rate per annum, at the borrowers' option, equal to (i) the Canadian Prime Rate (as defined in the Second Amended and Restated Credit Agreement), plus 4.00% per annum or (ii) the BA Rate (as defined in the Amended and Restated Credit Agreement) plus 5.00% per annum. Obligations under the Second Amended and Restated Credit Agreement were secured by (i) a first priority lien and security interest on all of the borrowers' and guarantors' assets, tangible or intangible, real, personal or mixed, existing and newly acquired, (ii) a pledge by Rand LL Holdings of all of the outstanding capital stock of the borrowers and (iii) a pledge by the Company of all of the outstanding capital stock of Rand LL Holdings and Rand Finance. The indebtedness of each borrower under the Second Amended and Restated Credit Agreement was unconditionally guaranteed by each other borrower and by the guarantors, and such guaranty was secured by a lien on substantially all of the assets of each borrower and each guarantor.
On December 1, 2011, Lower Lakes Lower, Lakes Transportation, Grand River, and General Electric Capital Corporation, Inc., as Agent, entered into an amendment to the Second Amended and Restated Credit Agreement (the "Amendment"). The Amendment increased (i) the US Term Loan by US $25,000 (ii) the quarterly payments due under the US Term Loan from US $367 to US $704 beginning with the quarterly payment due in June 2012 and (iii) the seasonal overadvance revolving credit facility to US $12,000 subject to certain limitations. Additionally, the Amendment eliminated the quarterly payments due under the US Term Loan in December 2011 and March 2012. The Amendment also modified the definitions of “Capital Expenditures”, “Cdn. Vessels”, “EBITDA”, “Fleet Mortgage”, “Requisite Lenders”, “Requisite Revolving Lenders” and “US Owned Vessels” and amended the Minimum EBITDA, Maximum Senior Debt to EBITDA Ratio, Maximum Capital Expenditures, Minimum Appraised Value to Term Loan Outstandings and Minimum Liquidity covenants.
The Second Amended and Restated Credit Agreement, as amended, contained certain covenants, including those limiting the guarantors, the borrowers, and their subsidiaries' ability to incur indebtedness, incur liens, sell or acquire assets or businesses, change the nature of their businesses, engage in transactions with related parties, make certain investments or pay dividends. In addition, the Second Amended and Restated Credit Agreement required the borrowers to maintain certain financial ratios.

14	LONG-TERM DEBT (continued)

On February 11, 2011, Black Creek, as borrower and Black Creek Holdings, as guarantor, General Electric Capital Corporation, as agent and lender, and certain other lenders, entered into a Credit Agreement (the “Black Creek Credit Agreement”) which (i) financed, in part, the acquisition of the Vessels by Black Creek described in Note 11, and (ii) provided funds for other transaction expenses. The Black Creek Credit Agreement provided for a US Dollar denominated senior secured term loan under which Black Creek borrowed US $31,000.
The outstanding principal amount of the term loan was repayable as follows: (i) quarterly payments of US $517 commencing September 30, 2011 and ending December 31, 2013 and (ii) a final payment in the outstanding principal amount of the term loan payable upon the term loan maturity on February 11, 2014.
The term loan bore an interest rate per annum, at Black Creek's option, equal to (i) LIBOR (as defined in the Black Creek Credit Agreement) plus 4.75% per annum, or (ii) the US Base Rate (as defined in the Black Creek Credit Agreement), plus 3.75% per annum. Obligations under the Black Creek Credit Agreement were secured by (i) a first priority lien and security interest on all of Black Creek's and Black Creek Holdings' assets, tangible or intangible, real, personal or mixed, existing and newly acquired and (ii) a pledge by Black Creek Holdings of all of the outstanding capital stock of Black Creek. The indebtedness of Black Creek under the Black Creek Credit Agreement was unconditionally guaranteed by the guarantor, and such guarantee is secured by a lien on substantially all of the assets of Black Creek and Black Creek Holdings.
Under the Black Creek Credit Agreement, Black Creek was required to make mandatory prepayments of principal on the term loan (i) in the event of certain dispositions of assets and insurance proceeds (as subject to certain exceptions), in an amount equal to 100% of the net proceeds received by Black Creek therefrom, and (ii) in an amount equal to 100% of the net proceeds to Black Creek from any issuance of Black Creek's debt or equity securities.
On December 1, 2011, The Black Creek Credit Agreement was amended to change the payment due on March 31, 2012 to April 2, 2012, and the payment due on June 30, 2012 to July 2, 2012.
The Black Creek Credit Agreement, as amended, contained certain covenants, including those limiting the guarantor's and Black Creek's ability to incur indebtedness, incur liens, sell or acquire assets or businesses, change the nature of their businesses, engage in transactions with related parties, make certain investments or pay dividends. In addition, the Black Creek Credit Agreement required Black Creek to maintain certain financial ratios.
All outstanding amounts due under the Black Creek Credit Agreement were repaid in connection with the refinancing of Black Creek's indebtedness under the Third Amended and Restated Credit Agreement, as more fully described above.

COMMITMENTS

COMMITMENTS	9 Months Ended
COMMITMENTS	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS	'
	COMMITMENTS

	The Company did not have any leases which met the criteria of a capital lease as of December 31, 2013. Leases which do not qualify as capital leases are classified as operating leases. Operating lease rental and sublease rental payments included in general and administrative expenses are as follows:



		Three months ended December 31, 2013		Three months ended December 31, 2012		Nine months ended December 31, 2013		Nine months ended December 31, 2012

	Operating leases	$	145	$	122	$	422	$	334
	Operating leases	$	145	$	122	$	422	$	334
	Operating sublease	40		38		119		115
	Operating sublease	40		38		119		115
		$	185	$	160	$	541	$	449
		$	185	$	160	$	541	$	449

	The Company’s future minimum rental commitments under other operating leases are as follows.

	Twelve month period ending:


	31-Dec-14	$	473
	31-Dec-14	$	473
	31-Dec-15	387
	31-Dec-15	387
	31-Dec-16	277
	31-Dec-16	277
	31-Dec-17	225
	31-Dec-17	225
	31-Dec-18	197
	31-Dec-18	197
	Thereafter	509
	Thereafter	509
		$	2,068
		$	2,068

	The Company is party to a bareboat charter agreement for the McKee Sons barge that expires in December 2018. The chartering cost included in vessel operating expenses was $253 for the three month period ended December 31, 2013 ($249 for the three month period ended December 30, 2012) and $760 for nine month period ended December 31, 2013 ($747 for the nine month period ended December 31, 2012). The lease was amended on February 22, 2008 to provide a lease payment deferment in return for leasehold improvements. The lease contains a clause whereby annual payments escalate at the Consumer Price Index, capped at a maximum annual increase of 3%. Total charter commitments for the McKee Sons vessel for the term of the lease before inflation adjustments are set forth below.

	Twelve month period ending:


	31-Dec-14	$	760
	31-Dec-14	$	760
	31-Dec-15	760
	31-Dec-15	760
	31-Dec-16	760
	31-Dec-16	760
	31-Dec-17	760
	31-Dec-17	760
	31-Dec-18	760
	31-Dec-18	760
	Thereafter
	Thereafter
		$	3,800
		$	3,800

	As of December 31, 2013, Lower Lakes had signed contractual commitments with several suppliers totaling $5,677 ($731 as of March 31, 2013) in connection with capital expenditure and drydock projects.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Dec. 31, 2013
Loss Contingency [Abstract]	'
CONTINGENCIES	'
	CONTINGENCIES

	The Company is not involved in any legal proceedings which are expected to have a material effect on its business, financial position, results of operations or liquidity, nor is the Company aware of any proceedings that are pending or threatened which may have a material effect on the Company’s business, financial position, results of operations or liquidity. From time to time, Lower Lakes may be subject to legal proceedings and claims in the ordinary course of business involving principally commercial charter party disputes, and claims for alleged property damages, personal injuries and other matters. Those claims, even if lacking merit, could result in the expenditure of significant financial and managerial resources. It is expected that larger claims would be covered by insurance, subject to customary deductibles, if they involve liabilities that may arise from allision, other marine casualty, damage to cargoes, oil pollution, death or personal injuries to crew. The Company evaluates the need for loss accruals under the requirements of ASC 450 – Contingencies. The Company records an estimated loss for any claim, lawsuit, investigation or proceeding when it is probable that a liability has been incurred and the amount of the loss can reasonably be estimated. If the reasonable estimate of a probable loss is a range, and no amount within the range is a better estimate, then the Company records the minimum amount in the range as the loss accrual. If a loss is not probable or a probable loss cannot be reasonably estimated, no liability is recorded. As of December 31, 2013 an accrual of $316 ($490 as of March 31, 2013) was recorded for various claims. Management does not anticipate material variations in actual losses from the amounts accrued related to these claims.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 2013
Stockholders' Equity Note [Abstract]	'
STOCKHOLDERS' EQUITY	'
	STOCKHOLDERS’ EQUITY

	On September 21, 2011, the Company completed a public underwritten offering of 2,800,000 shares of the Company’s common stock for $6.00 per share. The Company’s proceeds from the offering, net of underwriter’s commissions and expenses, were $15,525.

	On February 11, 2011, in connection with the transactions contemplated by the Asset Purchase Agreement with the Sellers discussed in Note 11, the Company issued 1,305,963 shares of the Company’s common stock to Buckeye. Such shares were valued at the average of high and low price on that day of $5.175.

	The Company is authorized to issue 1,000,000 shares of preferred stock with such designations, voting and other rights and preferences that may be determined from time to time by the Board of Directors. The shares of the Company’s series A convertible preferred stock: rank senior to the Company’s common stock with respect to liquidation and dividends; are entitled to receive a cash dividend at the annual rate of 7.75% (based on the $50 per share issue price) payable quarterly (subject to increases of 0.5% for each six month period in respect of which the dividend is not timely paid, up to a maximum of 12%, subject to reversion to 7.75% upon payment of all accrued and unpaid dividends); are convertible into shares of the Company’s common stock at any time at the option of the series A preferred stockholder at a conversion price of $6.20 per share (based on the $50 per share issue price and subject to adjustment) or 8.065 shares of common stock for each Series A Preferred Share (subject to adjustment); are convertible into shares of the Company’s common stock (based on a conversion price of $6.20 per share, subject to adjustment) at the option of the Company if, after the third anniversary of the acquisition, the trading price of the Company’s common stock for 20 trading days within any 30 trading day period equals or exceeds $8.50 per share (subject to adjustment); may be redeemed by the Company in connection with certain change of control or acquisition transactions; will vote on an as-converted basis with the Company’s common stock; and have a separate vote over certain material transactions or changes involving the Company.

	The accrued preferred stock dividends payable at December 31, 2013 were $16,095 and at March 31, 2013 were $13,456. As of December 31, 2013, and as of March 31, 2013, the effective rate of preferred dividends was 12% (maximum). The Company is limited in the payment of preferred dividends by the fixed charge coverage ratio covenant in the Third Amended and Restated Credit Agreement.

	17. STOCKHOLDERS’ EQUITY (continued)

	Since January 2007, share-based compensation has been granted to management and directors from time to time. The Company had no surviving, outstanding share-based compensation agreements with employees or directors prior to that date except as described below. The Company has reserved 2,500,000 shares for issuance under the Company’s 2007 Long Term Incentive Plan (the “LTIP”) to employees, officers, directors and consultants. At December 31, 2013, a total of 597,796 shares (662,659 shares at March 31, 2013) were available under the LTIP for future awards.

	The following table summarize shares issued to officers under employment and restricted stock agreements from time to time.




	Date Issued	No. of Officers Covered	No. of Shares	Share Price	Reference	Expense
					Vesting	Three months ended December 31, 2013	Three months ended December 31, 2012	Nine months ended December 31, 2013	Nine months ended December 31, 2012
	Oct 13, 2009	1	39,660	3.17	Employment Agreement	7	7	20	20
					20% on five succeeding anniversaries beginning March 31, 2010
	Feb 24, 2010	2	76,691	4.34	Restricted Share Award Agreement	—	28	—	84
					Three years in equal installments on each anniversary date.
	Apr 5, 2010	4	37,133	5.32	Restricted Share Award Agreement	—	17	—	50
					Three years in equal installments on each anniversary date.
	Apr 8, 2011	6	86,217	7.94	Restricted Share Award Agreement	56	57	169	170
					Three years in equal installments on each anniversary date.
	Apr 5, 2012	2	45,754	8.68	Restricted Share Award Agreement	33	33	99	99
					Three years in equal installments on each anniversary date.
	Feb 22, 2013	4	32,387	5.96	Restricted Share Award Agreement	21	—	70	—
					Two years in equal installments on each anniversary date.
	Jun 5, 2013	6	54,337	5.55	Restricted Share Award Agreement	26	—	59	—
					Three years in equal installments on each anniversary date.



	17. STOCKHOLDERS’ EQUITY (continued)

	The general characteristics of share-based awards granted under the LTIP through December 31, 2013 are as follows:

	For all share-based compensation, as employees and directors render service over the vesting periods, expense is recorded in general and administrative expenses. Generally this expense is for the straight-line amortization of the grant date fair market value adjusted for expected forfeitures. Grant date fair market value for all non-option share-based compensation is the average of the high and low trading prices on the date of grant.

	Stock Awards - All of the shares issued to non-employee outside directors vest immediately. The first award to non-employee outside directors in the amount of 12,909 shares was made on February 13, 2008 for services through March 31, 2008. During the fiscal year ended March 31, 2009, the Company awarded 15,948 shares for services from April 1, 2008 through December 31, 2008. The Company awarded 37,144 shares during the fiscal year ended March 31, 2010 for services from January 1, 2009 through March 31, 2010. During the fiscal year ended March 31, 2011, the Company awarded 14,007 shares for services provided from April 1, 2010 through March 31, 2011. During the fiscal year ended March 31, 2012, the Company awarded 10,722 shares for services from April 1, 2011 to March 31, 2012. During the fiscal year ended March 31, 2013, the Company awarded 10,854 shares for services provided from April 1, 2012 to March 31, 2013. During the nine month period ended December 31, 2013, the Company awarded 15,261 shares for services provided from April 1, 2013 to December 31, 2013. Grant date fair market value for all these awards is the average of the high and low trading prices of the Company’s common stock on the date of grant.

	On July 31, 2008, the Company’s Board of Directors authorized management to make payments effective as of that date to the participants in the management bonus program. Pursuant to the terms of the management bonus program, the Company issued 478,232 shares of common stock to such employee participants.

	Stock Options - Stock options granted to management employees vest over three years in equal annual installments. All options issued through December 31, 2013 expire ten years from the date of grant. Stock option grant date fair values are determined at the date of grant using a Black-Scholes option pricing model, a closed-form fair value model based on market prices at the date of grant. At each grant date the Company has estimated a dividend yield of 0%. The weighted average risk free interest rate within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant, which was 4.14% for the fiscal 2009 (July 2008) grant. Expected volatility for the fiscal 2009 grants was based on the prior 26 week period, which reflected trading and volume after the Company made major announcements on acquisitions and capital investments. Expected volatility was 39.49% for the fiscal 2009 grant. Options outstanding (479,785) at December 31, 2013, had a remaining weighted average contractual life of approximately four years and eight months. The Company recorded compensation expenses of $Nil for the nine month periods ended December 31, 2013 and December 31, 2012, respectively. All of the stock options granted in February 2008 (243,199) and July 2008 (236,586), had vested as of December 31, 2013.

	Shares issued under Employees’ Retirement Savings Plans - The Company issued an aggregate of 204,336 shares to the individual retirement plans of all eligible Canadian employees under the LTIP from July 1, 2009 through December 31, 2013. The Canadian employees’ plans are managed by independent brokerages. These shares vested immediately but are subject to the Company’s Insider Trading Policy. The shares were issued using the fair value share price, as defined by the LTIP, as of the first trading day of each month for that previous period’s accrued expense. The Company granted $Nil of equity of such accrued compensation expense for each of the nine month periods ended December 31, 2013 and December 31, 2012.



	17	STOCKHOLDERS’ EQUITY (continued)

	Shares issued in lieu of cash compensation - The Company experienced a decrease in customer demand at the beginning of the 2009 sailing season and in an effort to maximize the Company’s liquidity, the Compensation Committee of the Company’s Board of Directors requested that five of the Company’s executive officers and all of its outside directors receive common stock as compensation in lieu of cash until the Company had better visibility about its outlook. As of November 16, 2009, the Company issued 158,325 shares to such officers and all of its outside directors at the average of the high and low trading prices Company’s common stock on the date of grant. The shares were issued under the LTIP and vested immediately. Beginning the third quarter of the fiscal year ended March 31, 2010, such executives and outside directors’ compensation reverted back to cash compensation.

	On September 16, 2010, the Company issued 15,153 shares to a key executive for payment of the fiscal year 2010 bonus at the average of the high and low trading prices of the Company’s common stock on the date of grant. The shares were issued under the LTIP and vested immediately. On February 15, 2013, the Company issued 94,993 shares to eligible Canadian and US employees for a bonus at the average of the high and low trading prices of the Company’s common stock on the date of grant. The shares were issued under the LTIP and vested immediately.

OUTSIDE_VOYAGE_CHARTER_FEES

OUTSIDE VOYAGE CHARTER FEES	9 Months Ended
OUTSIDE VOYAGE CHARTER FEES	Dec. 31, 2013
Outside Voyage Charter Fees [Abstract]	'
OUTSIDE VOYAGE CHARTER FEES	'
	OUTSIDE VOYAGE CHARTER FEES

	Outside voyage charter fees relate to the subcontracting of external vessels chartered to service the Company’s customers and supplement the existing shipments made by the Company’s operated vessels.

INTEREST_EXPENSE

INTEREST EXPENSE	9 Months Ended
	Dec. 31, 2013
Interest Expense [Abstract]	'
INTEREST EXPENSE	'
	INTEREST EXPENSE

	Interest expense is comprised of the following:



		Three months ended December 31, 2013		Three months ended December 31, 2012		Nine months ended December 31, 2013		Nine months ended December 31, 2012
	Bank indebtedness	$	140	$	175	$	666	$	708

	Amortization of deferred financing costs	135		131		406		678

	Long-term debt	1,904		2,033		5,766		5,778

	Interest rate swaps	—		275		—		839

	Interest rate caps	3		50		6		50

	Deferred payment liability	33		41		105		130

	Interest capitalized	—		—		—		(538		)

		$	2,215	$	2,705	$	6,949	$	7,645

SEGMENT_INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Dec. 31, 2013
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	SEGMENT INFORMATION

	The Company has identified only one reportable segment under ASC 280 “Segment Reporting”.

	Information about geographic operations is as follows:



			Three months ended December 31, 2013			Three months ended December 31, 2012		Nine months ended December 31, 2013		Nine months ended December 31, 2012

	Revenue by country:
	Canada		$	30,946		$	27,267	$	87,912	$	89,578

	United States		18,953			22,275		60,929		60,147

			$	49,899		$	49,542	$	148,841	$	149,725


	Revenues from external customers are allocated based on the country of the legal entity of the Company in which the revenues were recognized.


		December 31, 2013			March 31, 2013
	Property and equipment by country:
	Canada	$	91,863		$	100,887

	United States	112,244			118,197

		$	204,107		$	219,084

	Intangible assets by country:

	Canada	$	6,917		$	8,081

	United States	3,999			4,531

		$	10,916		$	12,612

	Goodwill by country:

	Canada	$	8,284		$	8,284

	United States	1,909			1,909

		$	10,193		$	10,193

	Total assets by country:

	Canada	$	130,890		$	134,230

	United States	133,747			136,608

		$	264,637		$	270,838

FINANCIAL_INSTRUMENTS

FINANCIAL INSTRUMENTS

9 Months Ended

Dec. 31, 2013

Financial Instruments [Abstract]

FINANCIAL INSTRUMENTS

Fair value of financial instruments

Financial instruments are comprised of cash and cash equivalents, accounts receivable, accounts payable, long-term debts, a subordinated note, a deferred payment liability, accrued liabilities and bank indebtedness. The estimated fair values of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate book values because of the short-term maturities of these instruments. The estimated fair value of senior debt approximates the carrying value as the debt bears interest at variable interest rates, which are based on rates for similar debt with similar credit rates in the open market. The subordinated note and deferred payment liabilities are valued based on the interest rate of similar debt in the open market.

Fair value guidance establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. A financial asset's or liability's classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

The contract for two interest rate swaps entered into effective February 15, 2008, expired on March 31, 2013. The fair value adjustment of the interest rate swap contracts resulted in a gain of $282 for the three month period ended December

31, 2012 and gain of $824 for the nine month period ended December 31, 2012. This gain was included in the Company’s earnings for the three and nine month periods ended December 31, 2012.

Foreign exchange risk

Foreign currency exchange risk to the Company results primarily from changes in exchange rates between the Company’s reporting currency, the U.S. Dollar, and the Canadian dollar. The Company is exposed to fluctuations in foreign exchange as a significant portion of revenue and operating expenses are denominated in Canadian dollars.

FINANCIAL INSTRUMENTS (continued)

Interest rate risk

The Company is exposed to fluctuations in interest rates as a result of its banking facilities and senior debt bearing variable interest rates.

In December 2012, the Company entered into two interest rate cap contracts covering 50% of its outstanding term debt at a cap of three month Libor at 2.5% on its US Term Debt borrowings and a cap of three month BA rates at 3.0% on its Canadian Term Debt borrowings. The notional amount on each of these instruments will decrease with each scheduled principal payment. The interest rate cap contracts will terminate on December 1, 2015.

The Company did not designate the two expired swap contracts for hedge accounting treatment and therefore changes in fair value of these contracts were recorded in earnings as follows:

Derivatives not

Location of gain

Three months ended December 30, 2013

Three months ended

Nine months ended December 30, 2013

Nine months ended December 30, 2012

designated as hedging instrument:

-Recognized in

30-Dec-12

earnings

Interest rate swap

Other (income) and expenses

—

(282

)

—

(824

)

contracts liability

Credit risk

Accounts receivable credit risk is mitigated by the diversification of the Company’s customers among industries and the short shipping season.

Liquidity risk

The ongoing tightened credit in financial markets and continued general economic downturn may adversely affect the ability of the Company’s customers and suppliers to obtain financing for significant operations and purchases and to perform their obligations under agreements with the Company. The tightening of credit could (i) result in a decrease in, or cancellation of, existing business, (ii) limit new business, (iii) negatively impact the Company’s ability to collect accounts receivable on a timely basis and (iv) affect the eligible receivables that are collateral for the Company’s lines of credit. The Company makes seasonal net borrowings under its revolving credit facility during the first quarter of each fiscal year to fund working capital needed to commence the sailing season. Such borrowings are then reduced during the second half of each fiscal year.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	9 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	EARNINGS PER SHARE

	The Company had a total of 17,929,864 shares of common stock issued and outstanding as of December 31, 2013, out of an authorized total of 50,000,000 shares. The fully diluted calculation utilizes a total of 20,344,535 shares for the three month period ended December 31, 2013, 20,208,237 for three month period ended December 31, 2012, 20,326,353 shares for the nine month period ended December 31, 2013 and 20,261,732 for the nine month period ended December 31, 2012. Since the calculation for three and nine month periods ended December 31, 2013 and December 31, 2012 are anti-dilutive, the basic and fully diluted weighted average shares outstanding are 17,925,180 and 17,726,879 for the three month periods ended December 31, 2013 and December 31, 2012, respectively, and 17,906,998 and 17,723,793 for the nine month periods ended December 30, 2013 and December 31, 2012, respectively. The convertible preferred shares convert to an aggregate of 2,419,355 shares of the common stock based on a conversion price of $6.20.



		Three months ended December 31, 2013			Three months ended December 31, 2012			Nine months ended December 31, 2013			Nine months ended December 31, 2012
	Numerator:
	Net income before preferred dividends	$	1,681		$	3,416		$	5,474		$	9,393

	Preferred stock dividends	(906		)	(804		)	(2,639		)	(2,344		)
	Net income applicable to common stockholders	$	775		$	2,612		$	2,835		$	7,049

	Denominator:

	Weighted average common shares for basic EPS	17,925,180			17,726,879			17,906,998			17,723,793

	Effect of dilutive securities:

	Average price during period	5.26			6.5			5.31			7.52

	Long term incentive stock option plan	479,785			479,785			479,785			479,785

	Average exercise price of stock options	5.66			5.66			5.66			5.66

	Shares that could be acquired with the proceeds of options	—			417,782			—			361,202

	Dilutive shares due to options	—			62,003			—			118,583

	Weighted average convertible preferred shares at $6.20	2,419,355			2,419,355			2,419,355			2,419,355

	Weighted average common shares for diluted EPS	17,925,180			17,726,879			17,906,998			17,723,793

	Basic EPS	$	0.04		$	0.15		$	0.16		$	0.4

	Diluted EPS	$	0.04		$	0.15		$	0.16		$	0.4

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Cash and cash equivalents	'
	Cash and cash equivalents

	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Accounts receivable and concentration of credit risk	'
	Accounts receivable and concentration of credit risk

	The majority of the Company’s accounts receivable are amounts due from customers and other accounts receivable, including insurance and Harmonized Sales Tax refunds. The majority of accounts receivable are due within 30 to 60 days and are stated at amounts due from customers net of an allowance for doubtful accounts. The Company extends credit to its customers based upon its assessment of their creditworthiness and past payment history. Accounts outstanding longer than the contractual payment terms are considered past due. The Company has historically had no significant bad debts. Interest is not accrued on outstanding receivables.
Revenue and operating expenses recognition	'
	Revenue and operating expenses recognition

	The Company generates revenues from freight billings under contracts of affreightment (voyage charters) generally on a rate per ton basis based on origin-destination and cargo carried. Voyage revenue is recognized ratably over the duration of a voyage based on the relative transit time in each reporting period when the following conditions are met: the Company has a signed contract of affreightment, the contract price is fixed or determinable and collection is reasonably assured. Included in freight billings are other fees such as fuel surcharges and other freight surcharges, which represent pass-through charges to customers for toll fees, lockage fees and ice breaking fees paid to other parties. Fuel surcharges are recognized ratably over the duration of the voyage, while freight surcharges are recognized when the associated costs are incurred. Freight surcharges are less than 5% of total revenue.

	Marine operating expenses such as crewing costs, fuel, tugs and insurance are recognized as incurred or consumed and thereby are recognized ratably in each reporting period. Repairs and maintenance and certain other insignificant costs are recognized as incurred.

	The Company subcontracts excess customer demand to other freight providers. Service to customers under such arrangements is transparent to the customer and no additional services are provided to customers. Consequently, revenues recognized for customers serviced by freight subcontractors are recognized on the same basis as described above. Costs for subcontracted freight providers, presented as “outside voyage charter fees” in the consolidated statements of operations, are recognized as incurred and therefore are recognized ratably over the voyage.

	The Company accounts for sales taxes imposed on its services on a net basis in the consolidated statements of operations.
	In addition, all revenues are presented on a gross basis.
Vessel acquisitions	'
	Vessel acquisitions

	Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for its initial voyage. Subsequent expenditures for conversions and major improvements are also capitalized when they appreciably extend the life, increase the earnings capacity or improve the efficiency or safety of the vessels. Significant financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.
Fuel and lubricant inventories	'
	Fuel and lubricant inventories

	Raw materials, fuel and certain operating supplies are accounted for on a first-in, first-out cost method (based on monthly averages). Raw materials and fuel are stated at the lower of actual cost (first-in, first-out method) or market. Operating supplies are stated at actual cost or average cost.
Intangible assets and goodwill	'
	Intangible assets and goodwill

	Intangible assets consist primarily of goodwill, deferred financing costs, trademarks, trade names and customer relationships and contracts. Intangible assets are amortized as follows:



	Trademarks and trade names	10 years straight-line
	Customer relationships and contracts	15 years straight-line

	Deferred financing costs are amortized on a straight-line basis over the term of the related debt, which approximates the effective interest method.
Property and equipment	'
	Property and equipment

	Property and equipment are recorded at cost. Depreciation methods for property and equipment are as follows:



	Vessels	5 - 25 years straight-line
	Leasehold improvements	7 - 11 years straight-line
	Vehicles	20% declining-balance
	Furniture and equipment	20% declining-balance
	Computer equipment	45% declining-balance
	Communication equipment	20% declining-balance
Impairment of fixed assets	'
	Impairment of fixed assets

	Fixed assets (e.g. property and equipment) and finite-lived intangible assets (e.g. customer lists) are tested for impairment upon the occurrence of a triggering event that indicates the carrying value of such an asset or asset group (e.g. tugs and barges), might be no longer recoverable. Examples of such triggering events include a significant disposal of a portion of such assets, an adverse change in the market involving the business employing the related asset(s), a significant decrease in the benefits realized from an acquired business, difficulties or delays in integrating the business, and a significant change in the operations of an acquired business.

	Once a triggering event has occurred, the recoverability test employed is based on whether the intent is to hold the asset(s) for continued use or to hold the asset(s) for sale. If the intent is to hold the asset(s) for continued use, the recoverability test involves a comparison of undiscounted cash flows excluding interest expense, against the carrying value of the asset(s) as an initial test. If the carrying value of such asset(s) exceeds the undiscounted cash flow, the asset(s) would be deemed to be impaired. Impairment would then be measured as the difference between the fair value of the fixed or amortizing intangible asset and the carrying value of such asset(s). The Company generally determines fair value by using the discounted cash flow method. If the intent is to hold the asset(s) for sale and certain other criteria are met (i.e. the asset(s) can be disposed of currently, appropriate levels of authority have approved the sale and there is an actively pursuing buyer), the impairment test is a comparison of the asset’s carrying value to its fair value less costs to sell. To the extent that the carrying value is greater than the asset’s fair value less costs to sell, an impairment loss is recognized for the difference. The Company has determined that there were no adverse changes in our markets or other triggering events that could affect the valuation of our assets during the nine month period ended December 31, 2013.
Impairment of goodwill	'
	Impairment of goodwill

	The Company annually reviews the carrying value of goodwill to determine whether impairment may exist. In accordance with Accounting Standards Codification (“ASC”) 350 “Intangibles-Goodwill and Other” and Accounting Standards Update (“ASU”) 2011-08 Intangibles—Goodwill and Other (Topic 350) - Testing Goodwill for Impairment requires that goodwill and certain intangible assets be assessed annually for impairment using fair value measurement techniques. Specifically, goodwill impairment is determined using a three-step process. The first step of the goodwill impairment test is to perform a qualitative assessment before calculating the fair value of the reporting unit when testing goodwill for impairment. If the fair value of the reporting unit is determined, based on qualitative factors, to be more likely than not less than the carrying amount of the reporting unit, then entities are required to perform the two-step goodwill impairment test. The second step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The estimates of fair value of the Company’s two reporting units, which are the Company’s Canadian and US operations (excluding the parent), are determined using various valuation techniques with the primary techniques being a discounted cash flow analysis and peer analysis. A discounted cash flow analysis requires various judgmental assumptions, including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s forecast and long-term estimates. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The third step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. As of March 31, 2013, the Company conducted the qualitative assessment and determined that the fair value of its two reporting units exceeded their carrying amounts and the remaining two-step impairment testing was therefore not necessary. The Company has determined that there were no adverse changes in our markets or other triggering events that indicated that it is more likely than not that the fair value of our reporting units is less than the carrying value of our reporting units during the nine month period ended December 31, 2013.
Drydock costs	'
	Drydock costs

	Drydock costs incurred during statutory Canadian and United States certification processes are capitalized and amortized on a straight-line basis over the benefit period, which is generally 60 months. Drydock costs include costs of work performed by third party shipyards and subcontractors and other direct expenses to complete the mandatory certification process.
Repairs and maintenance	'
	Repairs and maintenance

	The Company’s vessels require repairs and maintenance each year to ensure the fleet is operating efficiently during the shipping season. The majority of repairs and maintenance are completed in January, February, and March of each year when the vessels are inactive. The Company expenses such routine repairs and maintenance costs. Significant repairs to the Company’s vessels (whether owned or available to the Company under a time charter), such as major engine overhauls and major hull steel repairs, are capitalized and amortized over the remaining useful life of the upgrade or asset repaired, or the remaining lease term.
Income taxes	'
	Income taxes

	The Company accounts for income taxes in accordance with ASC 740 “Income Taxes”, which requires the determination of deferred tax assets and liabilities based on the differences between the financial statement and income tax bases of tax assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is recognized, if necessary, to measure tax benefits to the extent that, based on available evidence, it is more likely than not that they will be realized.

	The Company classifies interest expense related to income tax liabilities, when applicable, as part of the interest expense in its consolidated statements of operations rather than income tax expense. To date, the Company has not incurred material interest expenses or penalties relating to assessed taxation amounts.

	There have been no recent examinations by the U.S. taxing authorities. Lower Lakes was examined by the Canadian taxing authority for the tax years 2009 and 2010 and such examination is now complete. This audit did not result in any material adjustments for such periods. The Company's primary U.S. state income tax jurisdictions are Illinois, Indiana, Michigan, Minnesota, Pennsylvania, Wisconsin, Ohio and New York and its only international jurisdictions are Canada and its province of Ontario. The following table summarizes the open fiscal tax years for each major jurisdiction:



	Jurisdiction	Open Tax Years
	Federal (USA)	2010 – 2013
	Various states	2010 – 2013
	Federal (Canada)	2009 – 2013
	Ontario	2009 – 2013
Foreign currency translation	'
	Foreign currency translation

	The Company uses the U.S. Dollar as its reporting currency. The functional currency of the Company's Canadian subsidiaries is the Canadian Dollar. The functional currency of the Company’s U.S. subsidiaries is the U.S. Dollar. Assets and liabilities denominated in foreign currencies are translated into U.S. Dollars at the rate of exchange at the balance sheet date, while revenue and expenses are translated at the average exchange rates prevailing during the respective month. Components of stockholders’ equity are translated at historical exchange rates. Exchange gains and losses resulting from translation are reflected in accumulated other comprehensive income or loss.
Advertising costs	'
	Advertising costs

	The Company expenses all advertising costs as incurred. These costs are included in general and administrative costs and were insignificant during the periods presented.
Use of estimates	'
	Use of estimates

	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates used in the preparation of these financial statements include the assumptions used in determining the useful lives of long-lived assets, the assumptions used in determining whether assets are impaired, the assumptions used in determining the valuation allowance for deferred income tax assets and the assumptions used in stock based compensation awards. Actual results could differ from those estimates.
Stock-based compensation	'
	Stock-based compensation

	The Company recognizes compensation expense for all newly granted awards and awards modified, repurchased or cancelled based on fair value at the date of grant.
Fair value of financial instruments	'
	Financial instruments

	The Company accounted for its two expired interest rate swap contracts on its term debt utilizing ASC 815 “Derivatives and Hedging”. All changes in the fair value of such swap contracts were recorded in earnings. The fair value of settlement costs, when the contracts were in place, were included in current liabilities on the consolidated balance sheets. No liability remains. Disclosure requirements of ASC 815 are disclosed in Note 21.

	Fair value of financial instruments

	ASC 820 “Fair Value Measurements and Disclosures” ("ASC 820") defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles and establishes a hierarchy that categorizes and prioritizes the inputs to be used to estimate fair value. The three levels of inputs used are as follows:

	Level 1 – Quoted prices in active markets for identical assets or liabilities.
	Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.
	Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

	The disclosure requirements of ASC 820 related to the Company’s financial assets and liabilities are presented in Note 21.

SIGNIFICANT_ACCOUNTING_POLICIE2

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Amortization periods of intangible assets	'
	Intangible assets consist primarily of goodwill, deferred financing costs, trademarks, trade names and customer relationships and contracts. Intangible assets are amortized as follows:



	Trademarks and trade names	10 years straight-line
	Customer relationships and contracts	15 years straight-line
Useful lives of property and equipment	'
	Property and equipment are recorded at cost. Depreciation methods for property and equipment are as follows:



	Vessels	5 - 25 years straight-line
	Leasehold improvements	7 - 11 years straight-line
	Vehicles	20% declining-balance
	Furniture and equipment	20% declining-balance
	Computer equipment	45% declining-balance
	Communication equipment	20% declining-balance
Open tax years	'
	There have been no recent examinations by the U.S. taxing authorities. Lower Lakes was examined by the Canadian taxing authority for the tax years 2009 and 2010 and such examination is now complete. This audit did not result in any material adjustments for such periods. The Company's primary U.S. state income tax jurisdictions are Illinois, Indiana, Michigan, Minnesota, Pennsylvania, Wisconsin, Ohio and New York and its only international jurisdictions are Canada and its province of Ontario. The following table summarizes the open fiscal tax years for each major jurisdiction:



	Jurisdiction	Open Tax Years
	Federal (USA)	2010 – 2013
	Various states	2010 – 2013
	Federal (Canada)	2009 – 2013
	Ontario	2009 – 2013

PREPAID_EXPENSES_AND_OTHER_CUR1

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Dec. 31, 2013
Prepaid Expense and Other Assets, Current [Abstract]	'
Components of prepaid expenses and other current assets	'
	Prepaid expenses and other current assets are comprised of the following:



		December 31, 2013		March 31, 2013
	Prepaid insurance	$	332	$	334

	Fuel and lubricants	5,315		5,063

	Deposits and other prepaids	2,359		2,445

		$	8,006	$	7,842

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Dec. 31, 2013
Property, Plant and Equipment [Abstract]	'
Schedule of property and equipment	'
	Property and equipment are comprised of the following:




		December 31, 2013		March 31, 2013
	Cost
	Vessels	$	260,926	$	264,685

	Leasehold improvements	3,775		3,779

	Furniture and equipment	529		494

	Vehicles	20		21

	Computer, communication equipment and purchased software	2,886		2,912

		$	268,136	$	271,891

	Accumulated depreciation

	Vessels	$	60,102	$	49,404

	Leasehold improvements	1,841		1,496

	Furniture and equipment	238		200

	Vehicles	13		13

	Computer, communication equipment and purchased software	1,835		1,694

		64,029		52,807

		$	204,107	$	219,084

OTHER_ASSETS_Tables

OTHER ASSETS (Tables)	9 Months Ended
	Dec. 31, 2013
Other Assets [Abstract]	'
Schedule of other assets	'


		December 31, 2013		March 31, 2013
	Customer contract costs	$	884	$	1,156

	Prepaid expenses and other assets	7,950		7,736

	Total	$	8,834	$	8,892


	Current portion	8,006		7,842


	Other long term assets	$	828	$	1,050

DEFERRED_DRYDOCK_COSTS_Tables

DEFERRED DRYDOCK COSTS (Tables)	9 Months Ended
	Dec. 31, 2013
Deferred Drydock Costs [Abstract]	'
Schedule of deferred drydock costs	'
	Deferred drydock costs are comprised of the following:



		December 31, 2013			March 31, 2013
	Drydock expenditures	$	16,410		$	19,477

	Accumulated amortization	(6,846		)	(8,582		)
		$	9,564		$	10,895

Summary of changes in deferred drydock costs	'
	The following table shows periodic deferrals of drydock costs and amortization.



	Balance as of March 31, 2012	$	9,879

	Drydock costs accrued	4,656

	Amortization of drydock costs	(3,497		)
	Foreign currency translation adjustment	(143		)
	Balance as of March 31, 2013	$	10,895

	Drydock costs accrued	1,411

	Amortization of drydock costs	(2,489		)
	Foreign currency translation adjustment	(253		)
	Balance as of December 31, 2013	$	9,564

INTANGIBLE_ASSETS_AND_GOODWILL1

INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of intangible assets and goodwill	'
	Intangibles are comprised of the following:



		December 31, 2013		March 31, 2013
	Intangible assets:
	Deferred financing costs	$	2,097	$	2,120

	Trademarks and trade names	977		1,010

	Customer relationships and contracts	17,350		17,926

	Total identifiable intangibles	$	20,424	$	21,056

	Accumulated amortization:

	Deferred financing costs	$	708	$	309

	Trademarks and trade names	765		715

	Customer relationships and contracts	8,035		7,420

	Total accumulated amortization	9,508		8,444

	Net intangible assets	$	10,916	$	12,612

	Goodwill	$	10,193	$	10,193

Schedule of expected amortization expense	'
	Intangible asset amortization over the next five years is estimated as follows:

	Twelve month period ending:


	31-Dec-14	$	1,789

	31-Dec-15	1,789

	31-Dec-16	1,493

	31-Dec-17	1,157

	31-Dec-18	1,157

		$	7,385

VESSEL_ACQUISITIONS_Tables

VESSEL ACQUISITIONS (Tables)	9 Months Ended
	Dec. 31, 2013
Vessel Acquisitions [Abstract]	'
Schedule of estimated fair values of assets acquired	'
	The estimated fair values of assets acquired were as follows:



	Current assets	$	94

	Property and equipment	45,000

	Other identifiable intangible assets	1,836

		$	46,930

ACCRUED_LIABILITIES_Tables

ACCRUED LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2013
Payables and Accruals [Abstract]	'
Components of accrued liabilities	'
	Accrued liabilities are comprised of the following:



		December 31, 2013		March 31, 2013
	Deferred financing and other transaction costs	$	—	$	26

	Payroll compensation and benefits	2,777		1,926

	Preferred stock dividends	16,095		13,456

	Professional fees	382		385

	Interest	655		754

	Winter work, deferred drydock expenditures and capital expenditures	63		2,438

	Capital and franchise taxes	57		113

	Other	2,360		2,218

		$	22,389	$	21,316

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	9 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Schedule of long-term debt instruments	'


			December 31, 2013		March 31, 2013
	a)	Canadian term loan bearing interest at Canadian Prime rate plus 3.75% (3.75% at March 31, 2013) or Canadian BA rate plus 4.75% (4.75% at March 31, 2013) at the Company’s option. The loan is repayable until August 1, 2016 with quarterly payments of CDN $331 commencing December 1, 2012, increasing to CDN $662 commencing December 1, 2014 and the balance due August 1, 2016.	$	48,255	$	51,493



	b)	Grand River US term loan bearing interest at LIBOR rate plus 4.75% (4.75% at March 31, 2013) or US base rate plus 3.75% (3.75% at March 31, 2013) at the Company’s option. The loan is repayable until August 1, 2016 with quarterly payments of US $401 commencing December 1, 2012, increasing to US $802 commencing December 1, 2014 and the balance due on August 1, 2016. Such term loan is collateralized by the existing and newly acquired assets of Lower Lakes, Grand River, Lower Lakes Transportation and Black Creek.	62,123		63,325



	c)	Black Creek US term loan bearing interest at LIBOR rate plus 4.75% (4.75% at March 31, 2013) or US base rate plus 3.75% (3.75% at March 31, 2013) at the Company’s option. The loan is repayable until August 1, 2016 with quarterly payments of US $181 commencing December 1, 2012, increasing to US $362 commencing December 1, 2014, and the balance due August 1, 2016. Such term loan is collateralized by the existing and newly acquired assets of Lower Lakes, Grand River, Lower Lakes Transportation and Black Creek.	28,029		28,572

			$	138,407	$	143,390

		Less amounts due within 12 months	4,465		3,630

			$	133,942	$	139,760

Schedule of principal payments due	'
	Principal payments are due as follows:

	Twelve month period ending:


	31-Dec-14	$	4,465

	31-Dec-15	7,144

	31-Dec-16	126,798

		$	138,407

COMMITMENTS_Tables

COMMITMENTS (Tables)	9 Months Ended
COMMITMENTS (Tables)	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of operating lease rental and sublease rental payments	'
	Operating lease rental and sublease rental payments included in general and administrative expenses are as follows:



		Three months ended December 31, 2013		Three months ended December 31, 2012		Nine months ended December 31, 2013		Nine months ended December 31, 2012

	Operating leases	$	145	$	122	$	422	$	334
	Operating leases	$	145	$	122	$	422	$	334
	Operating sublease	40		38		119		115
	Operating sublease	40		38		119		115
		$	185	$	160	$	541	$	449
		$	185	$	160	$	541	$	449
Schedule of future minimum rental commitments	'
	The Company’s future minimum rental commitments under other operating leases are as follows.

	Twelve month period ending:


	31-Dec-14	$	473
	31-Dec-14	$	473
	31-Dec-15	387
	31-Dec-15	387
	31-Dec-16	277
	31-Dec-16	277
	31-Dec-17	225
	31-Dec-17	225
	31-Dec-18	197
	31-Dec-18	197
	Thereafter	509
	Thereafter	509
		$	2,068
		$	2,068

Schedule of charter commitments	'
	Twelve month period ending:


	31-Dec-14	$	760
	31-Dec-14	$	760
	31-Dec-15	760
	31-Dec-15	760
	31-Dec-16	760
	31-Dec-16	760
	31-Dec-17	760
	31-Dec-17	760
	31-Dec-18	760
	31-Dec-18	760
	Thereafter
	Thereafter
		$	3,800
		$	3,800

INTEREST_EXPENSE_Tables

INTEREST EXPENSE (Tables)	9 Months Ended
	Dec. 31, 2013
Interest Expense [Abstract]	'
Components of interest expense	'
	Interest expense is comprised of the following:



		Three months ended December 31, 2013		Three months ended December 31, 2012		Nine months ended December 31, 2013		Nine months ended December 31, 2012
	Bank indebtedness	$	140	$	175	$	666	$	708

	Amortization of deferred financing costs	135		131		406		678

	Long-term debt	1,904		2,033		5,766		5,778

	Interest rate swaps	—		275		—		839

	Interest rate caps	3		50		6		50

	Deferred payment liability	33		41		105		130

	Interest capitalized	—		—		—		(538		)

		$	2,215	$	2,705	$	6,949	$	7,645

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	9 Months Ended
	Dec. 31, 2013
Segment Reporting [Abstract]	'
Revenue and long-lived assets by geographical segment	'
	Information about geographic operations is as follows:



			Three months ended December 31, 2013			Three months ended December 31, 2012		Nine months ended December 31, 2013		Nine months ended December 31, 2012

	Revenue by country:
	Canada		$	30,946		$	27,267	$	87,912	$	89,578

	United States		18,953			22,275		60,929		60,147

			$	49,899		$	49,542	$	148,841	$	149,725


	Revenues from external customers are allocated based on the country of the legal entity of the Company in which the revenues were recognized.


		December 31, 2013			March 31, 2013
	Property and equipment by country:
	Canada	$	91,863		$	100,887

	United States	112,244			118,197

		$	204,107		$	219,084

	Intangible assets by country:

	Canada	$	6,917		$	8,081

	United States	3,999			4,531

		$	10,916		$	12,612

	Goodwill by country:

	Canada	$	8,284		$	8,284

	United States	1,909			1,909

		$	10,193		$	10,193

	Total assets by country:

	Canada	$	130,890		$	134,230

	United States	133,747			136,608

		$	264,637		$	270,838

FINANCIAL_INSTRUMENTS_Tables

FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Dec. 31, 2013

Financial Instruments [Abstract]

Schedule of contracts not designated for hedge accounting treatment, changes in fair value recorded in earnings

The Company did not designate the two expired swap contracts for hedge accounting treatment and therefore changes in fair value of these contracts were recorded in earnings as follows:

Derivatives not

Location of gain

Three months ended December 30, 2013

Three months ended

Nine months ended December 30, 2013

Nine months ended December 30, 2012

designated as hedging instrument:

-Recognized in

30-Dec-12

earnings

Interest rate swap

Other (income) and expenses

—

(282

)

—

(824

)

contracts liability

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Schedule of earnings per share, basic and diluted	'


		Three months ended December 31, 2013			Three months ended December 31, 2012			Nine months ended December 31, 2013			Nine months ended December 31, 2012
	Numerator:
	Net income before preferred dividends	$	1,681		$	3,416		$	5,474		$	9,393

	Preferred stock dividends	(906		)	(804		)	(2,639		)	(2,344		)
	Net income applicable to common stockholders	$	775		$	2,612		$	2,835		$	7,049

	Denominator:

	Weighted average common shares for basic EPS	17,925,180			17,726,879			17,906,998			17,723,793

	Effect of dilutive securities:

	Average price during period	5.26			6.5			5.31			7.52

	Long term incentive stock option plan	479,785			479,785			479,785			479,785

	Average exercise price of stock options	5.66			5.66			5.66			5.66

	Shares that could be acquired with the proceeds of options	—			417,782			—			361,202

	Dilutive shares due to options	—			62,003			—			118,583

	Weighted average convertible preferred shares at $6.20	2,419,355			2,419,355			2,419,355			2,419,355

	Weighted average common shares for diluted EPS	17,925,180			17,726,879			17,906,998			17,723,793

	Basic EPS	$	0.04		$	0.15		$	0.16		$	0.4

	Diluted EPS	$	0.04		$	0.15		$	0.16		$	0.4

SIGNIFICANT_ACCOUNTING_POLICIE3

SIGNIFICANT ACCOUNTING POLICIES (Details)

9 Months Ended

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Interest rate swap contracts [Member]

Vehicles [Member]

Furniture and equipment [Member]

Computer equipment [Member]

Communication equipment [Member]

Trademarks and trade names [Member]

Customer relationships and contracts [Member]

Minimum [Member]

Maximum [Member]

interest_rate_swap_contracts

Vessels [Member]

Leasehold improvements [Member]

Vessels [Member]

Leasehold improvements [Member]

Significant Accounting Policies [Line Items]

Age of receivables

'30 days

'60 days

Freight surcharges as a percent of revenue

5.00%

Amortization period

'10 years

'15 years

Useful life

'5 years

'7 years

'25 years

'11 years

Depreciation rate

20.00%

45.00%

20.00%

Amortization period of drydock costs

'60 months

Number of interest rate swap contracts

ACCOUNTS_RECEIVABLE_Details

ACCOUNTS RECEIVABLE (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]	'	'
Allowance for doubtful accounts	$15	$49

PREPAID_EXPENSES_AND_OTHER_CUR2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Prepaid Expense and Other Assets, Current [Abstract]	'	'
Prepaid insurance	$332	$334
Fuel and lubricants	5,315	5,063
Deposits and other prepaids	2,359	2,445
Prepaid expenses and other current assets	$8,006	$7,842

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	$5,462	$3,637	$17,423	$13,396	'
Current Federal Tax Expense (Benefit)	0	-49	0	-49	'
Deferred Federal Income Tax Expense (Benefit)	3,781	270	11,949	4,052	'
Income Tax Expense (Benefit)	3,781	221	11,949	4,003	'
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	'	'	68.60%	29.90%	'
Deferred income taxes (Note 6)	262	'	262	'	262
Deferred Tax Liabilities, Net, Current	0	'	0	'	173
Deferred Tax Assets, Net, Noncurrent	0	'	0	'	2,203
Deferred Tax Liabilities, Net, Noncurrent	$12,761	'	$12,761	'	$3,532

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Cost	$268,136	$271,891
Accumulated depreciation	64,029	52,807
Property and equipment, net	204,107	219,084
Vessels [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	260,926	264,685
Accumulated depreciation	60,102	49,404
Leasehold improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	3,775	3,779
Accumulated depreciation	1,841	1,496
Furniture and equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	529	494
Accumulated depreciation	238	200
Vehicles [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	20	21
Accumulated depreciation	13	13
Computer, communication equipment and purchased software [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	2,886	2,912
Accumulated depreciation	$1,835	$1,694

OTHER_ASSETS_Details

OTHER ASSETS (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Other Assets [Abstract]	'	'
Customer contract costs	$884	$1,156
Prepaid expenses and other assets	7,950	7,736
Total	8,834	8,892
Current portion	8,006	7,842
Other long term assets	$828	$1,050

DEFERRED_DRYDOCK_COSTS_Balance

DEFERRED DRYDOCK COSTS (Balance Sheet Details) (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013	Mar. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013	Mar. 31, 2012
Deferred Drydock Costs [Abstract]	'	'	'
Deferred expenditures	$16,410	$19,477	'
Accumulated amortization	-6,846	-8,582	'
Deferred drydock costs, net	$9,564	$10,895	$9,879

DEFERRED_DRYDOCK_COSTS_Changes

DEFERRED DRYDOCK COSTS (Changes in Deferred Balances) (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Deferred Drydock Costs [Roll Forward]	'	'	'	'	'
Balance at beginning of period	'	'	$10,895	$9,879	$9,879
Drydock costs accrued	'	'	1,411	'	4,656
Amortization of drydock costs	-822	-878	-2,489	-2,630	-3,497
Foreign currency translation adjustment	'	'	-253	'	-143
Balance at end of period	$9,564	'	$9,564	'	$10,895

INTANGIBLE_ASSETS_AND_GOODWILL2

INTANGIBLE ASSETS AND GOODWILL (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Finite-Lived Intangible Assets, Net [Abstract]	'	'
Intangible assets, gross	$20,424	$21,056
Accumulated amortization	9,508	8,444
Intangible assets	10,916	12,612
Goodwill	10,193	10,193
Twelve month period ending:	'	'
31-Dec-14	1,789	'
31-Dec-15	1,789	'
31-Dec-16	1,493	'
31-Dec-17	1,157	'
31-Dec-18	1,157	'
Total	7,385	'
Deferred financing costs [Member]	'	'
Finite-Lived Intangible Assets, Net [Abstract]	'	'
Intangible assets, gross	2,097	2,120
Accumulated amortization	708	309
Trademarks and trade names [Member]	'	'
Finite-Lived Intangible Assets, Net [Abstract]	'	'
Intangible assets, gross	977	1,010
Accumulated amortization	765	715
Customer relationships and contracts [Member]	'	'
Finite-Lived Intangible Assets, Net [Abstract]	'	'
Intangible assets, gross	17,350	17,926
Accumulated amortization	$8,035	$7,420

VESSEL_ACQUISITIONS_Details

VESSEL ACQUISITIONS (Details)	Feb. 11, 2011	Jul. 21, 2011	Oct. 14, 2011	Dec. 01, 2011	Dec. 01, 2011
In Thousands, except Share data, unless otherwise specified	Black Creek Holdings, Inc. [Member]	Lower Lakes Towing Ltd. [Member]	Lower Lakes Towing Ltd. [Member]	Grand River Navigation Company, Inc. [Member]	Grand River Navigation Company, Inc. [Member]
	The Vessels [Member]	MANITOBA [Member]	TECUMSEH [Member]	ASHTABULA [Member]	DEFIANCE [Member]
	USD ($)	CAD	USD ($)	USD ($)	USD ($)
	Monthly_Installments
	Vessels
Schedule of Significant Acquisitions and Disposals [Line Items]	'	'	'	'	'
Number of vessels purchased	2	'	'	'	'
Cash paid at closing	$35,500	'	'	'	'
Cash to be paid in installments	3,600	'	'	'	'
Number of payment installments	72	'	'	'	'
Monthly payment installment amount	50	'	'	'	'
Promissory note given as consideration	1,500	'	'	'	'
Number of common shares given as consideration	1,305,963	'	'	'	'
Fair Values of Assets Acquired [Abstract]	'	'	'	'	'
Current assets	94	'	'	'	'
Property and equipment	45,000	'	'	'	'
Other identifiable intangible assets	1,836	'	'	'	'
Total	46,930	'	'	'	'
Promissory note interest rate	6.00%	'	'	'	'
Vessel purchase price	'	2,667	$5,250	$11,954	$7,796

BANK_INDEBTEDNESS_Details

BANK INDEBTEDNESS (Details)

Dec. 31, 2013

Mar. 31, 2013

Apr. 01, 2015

Dec. 31, 2013

Apr. 01, 2015

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Sep. 28, 2011

Aug. 30, 2012

Apr. 01, 2015

Sep. 28, 2011

Aug. 30, 2012

Aug. 01, 2016

In Thousands, unless otherwise specified

Third Amended & Restated Credit Agreement [Member]

Canadian Prime Rate [Member]

Canadian 30 Day BA Rate [Member]

US Base Rate [Member]

LIBOR [Member]

Component 1 [Member]

Component 2 [Member]

Minimum [Member]

Maximum [Member]

Lower Lakes Transportation Company [Member]

Grand River Navigation Company, Inc. [Member]

Lower Lakes Towing Ltd. [Member]

Loans Payable [Member]

USD ($)

CAD

USD ($)

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

Revolving Credit Facility [Member]

US Base Rate [Member]

LIBOR [Member]

Canadian Prime Rate [Member]

Canadian 30 Day BA Rate [Member]

Revolving Credit Facility [Member]

US Term Loan [Member]

Canadian Term Loan [Member]

USD ($)

Component 2 [Member]

Second Amended and Restated Credit Agreement [Member]

Component 1 [Member]

Grand River Navigation Company, Inc. [Member]

Lower Lakes Towing Ltd. [Member]

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

US Base Rate [Member]

LIBOR [Member]

Canadian Prime Rate [Member]

Canadian 30 Day BA Rate [Member]

USD ($)

CAD

Third Amended & Restated Credit Agreement [Member]

Line of Credit Facility [Line Items]

Authorized amount of line of credit

$13,500

13,500

Amount of line of credit being utilized

2,000

2,925

2,500

3,118

Amount of letters of credit maintained

100

Basis spread on variable rate

3.50%

4.50%

3.50%

4.50%

3.50%

4.50%

3.50%

4.50%

3.75%

4.75%

3.75%

4.75%

Measurement period of variable rate

'30 days

Collateral, percent of receivables eligible for collateral if not aged over 90 days

85.00%

Collateral, minimum age of receivables eligible for collateral

'90 days

Collateral, receivables eligible for collateral if not aged over 90 days, percent limitation per one customer

20.00%

30.00%

Credit availability

$10,569

ACCRUED_LIABILITIES_Details

ACCRUED LIABILITIES (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Payables and Accruals [Abstract]	'	'
Deferred financing and other transaction costs	$0	$26
Payroll compensation and benefits	2,777	1,926
Preferred stock dividends	16,095	13,456
Professional fees	382	385
Interest	655	754
Winter work, deferred drydock and captial expenditures	63	2,438
Capital and franchise taxes	57	113
Other	2,360	2,218
Accrued liabilities	$22,389	$21,316

LONGTERM_DEBT_Schedule_of_Long

LONG-TERM DEBT (Schedule of Long-term Debt) (Details)

3 Months Ended

9 Months Ended

28 Months Ended

36 Months Ended

19 Months Ended

22 Months Ended

47 Months Ended

19 Months Ended

22 Months Ended

47 Months Ended

19 Months Ended

22 Months Ended

47 Months Ended

42 Months Ended

39 Months Ended

42 Months Ended

0 Months Ended

33 Months Ended

39 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2013

Feb. 11, 2011

Feb. 11, 2014

Dec. 31, 2013

Mar. 31, 2013

Jun. 30, 2016

Sep. 30, 2014

Dec. 31, 2013

Mar. 31, 2013

Aug. 01, 2016

Jun. 30, 2016

Sep. 30, 2014

Dec. 31, 2013

Mar. 31, 2013

Aug. 01, 2016

Jun. 30, 2016

Sep. 30, 2014

Dec. 31, 2013

Mar. 31, 2013

Aug. 01, 2016

Apr. 01, 2015

Mar. 01, 2015

Apr. 01, 2015

Dec. 01, 2011

Mar. 01, 2015

Aug. 30, 2012

Sep. 28, 2011

Aug. 30, 2012

Sep. 28, 2011

Aug. 30, 2012

Sep. 28, 2011

Aug. 30, 2012

Sep. 28, 2011

Aug. 30, 2012

Dec. 01, 2011

Sep. 28, 2011

Aug. 30, 2012

Sep. 28, 2011

USD ($)

Lower Lakes Towing Ltd. [Member]

Black Creek Holdings, Inc. [Member]

Grand River Navigation Company, Inc. [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Secured Debt [Member]

Component 1 [Member]

Component 2 [Member]

Loans Payable [Member]

Lower Lakes Towing Ltd. [Member]

Black Creek Holdings, Inc. [Member]

Grand River Navigation Company, Inc. [Member]

Canadian Prime Rate [Member]

Canadian BA Rate [Member]

LIBOR [Member]

US Base Rate [Member]

Lower Lakes Towing Ltd. [Member]

Grand River Navigation Company, Inc. [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Revolving Credit Facility [Member]

Swing Line Facility [Member]

Revolving Credit Facility [Member]

Seasonal Overadvance Facility [Member]

Swing Line Facility [Member]

Canadian Term Loan [Member]

Black Creek US term loan [Member]

US Term Loan [Member]

Loans Payable [Member]

Canadian Prime Rate [Member]

Canadian BA Rate [Member]

Canadian engine loan [Member]

Loans Payable [Member]

LIBOR [Member]

US Base Rate [Member]

Loans Payable [Member]

Lower Lakes Towing Ltd. [Member]

Black Creek Holdings, Inc. [Member]

Grand River Navigation Company, Inc. [Member]

Lower Lakes Towing Ltd. [Member]

Grand River Navigation Company, Inc. [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

Third Amended & Restated Credit Agreement [Member]

Second Amended and Restated Credit Agreement [Member]

USD ($)

LIBOR [Member]

US Base Rate [Member]

Canadian Term Loan [Member]

Black Creek US term loan [Member]

US Term Loan [Member]

Canadian Prime Rate [Member]

Canadian BA Rate [Member]

Canadian Term Loan [Member]

Canadian engine loan [Member]

US Term Loan [Member]

Canadian Term Loan [Member]

Black Creek US term loan [Member]

US Term Loan [Member]

Canadian Term Loan [Member]

Canadian engine loan [Member]

US Term Loan [Member]

Lower Lakes Towing Ltd. [Member]

Lower Lakes Transportation Company [Member]

USD ($)

CAD

USD ($)

Lower Lakes Towing Ltd. [Member]

Lower Lakes Transportation Company [Member]

CAD

USD ($)

Canadian Prime Rate [Member]

Canadian BA Rate [Member]

USD ($)

LIBOR [Member]

US Base Rate [Member]

USD ($)

LIBOR [Member]

US Base Rate [Member]

CAD

USD ($)

CAD

USD ($)

CAD

USD ($)

CAD

USD ($)

CAD

USD ($)

Debt Instrument [Line Items]

Line of Credit Facility, Current Borrowing Capacity

13,500,000

4,000,000

$13,500,000

$12,000,000

12,000,000

$12,000,000

10,000,000

$10,000,000

$50,000

$4,000,000

Long-term Debt, Current and Noncurrent [Abstract]

Long-term debt

138,407,000

143,390,000

48,255,000

51,493,000

28,029,000

28,572,000

62,123,000

63,325,000

Less amounts due within 12 months

4,465,000

3,630,000

Long-term debt, excluding current maturities

133,942,000

139,760,000

Basis spread on variable rate

4.75%

3.75%

4.75%

3.75%

4.75%

3.75%

3.50%

4.50%

3.50%

4.50%

4.00%

5.00%

4.50%

3.50%

Debt Instrument, Increase, Additional Borrowings

25,000,000

Quarterly payment

517,000

662,000

331,000

362,000

181,000

802,000

401,000

936,000

133,000

367,000

704,000

367,000

Effective interest rate including effect of interest rate swap contracts

6.03%

4.99%

5.88%

4.99%

5.88%

Effective interest rate

6.03%

6.04%

4.99%

5.04%

4.99%

5.04%

Debt Instrument, Face Amount

31,000,000

52,979,000

28,934,000

64,127,000

56,133,000

6,267,000

17,233,000

Loss on extinguishment of debt

$3,339,000

LONGTERM_DEBT_Debt_Maturities_

LONG-TERM DEBT (Debt Maturities Due) (Details) (USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Long-term Debt, Rolling Maturity [Abstract]	'	'
31-Dec-14	$4,465	'
31-Dec-15	7,144	'
31-Dec-16	126,798	'
Long-term debt	$138,407	$143,390

LONGTERM_DEBT_Additional_Infor

LONG-TERM DEBT (Additional Information) (Details)

Dec. 01, 2011

Apr. 01, 2015

Sep. 28, 2011

Apr. 01, 2015

Sep. 28, 2011

Apr. 01, 2015

Dec. 31, 2013

Mar. 31, 2013

Mar. 01, 2015

Apr. 01, 2015

Sep. 28, 2011

Dec. 31, 2013

Mar. 31, 2013

Dec. 01, 2011

Mar. 01, 2015

Dec. 31, 2013

Mar. 31, 2013

Feb. 11, 2011

Feb. 11, 2014

Second Amended and Restated Credit Agreement [Member]

Canadian Prime Rate [Member]

Canadian BA Rate [Member]

LIBOR [Member]

US Base Rate [Member]

Lower Lakes Towing Ltd. [Member]

Grand River Navigation Company, Inc. [Member]

Black Creek Holdings, Inc. [Member]

Seasonal Overadvance Facility [Member]

Second Amended and Restated Credit Agreement [Member]

Canadian Prime Rate [Member]

Canadian BA Rate [Member]

Canadian Term Loan [Member]

Canadian engine loan [Member]

Loans Payable [Member]

LIBOR [Member]

US Base Rate [Member]

US Term Loan [Member]

Loans Payable [Member]

Component ii [Member]

Revolving Credit Facility [Member]

Seasonal Overadvance Facility [Member]

Swing Line Facility [Member]

Second Amended and Restated Credit Agreement [Member]

Canadian Prime Rate [Member]

Canadian BA Rate [Member]

Canadian Term Loan [Member]

Canadian engine loan [Member]

Second Amended and Restated Credit Agreement [Member]

US Term Loan [Member]

Black Creek US term loan [Member]

USD ($)

Component i [Member]

Component ii [Member]

Component i [Member]

Secured Debt [Member]

Second Amended and Restated Credit Agreement [Member]

Secured Debt [Member]

Second Amended and Restated Credit Agreement [Member]

USD ($)

LIBOR [Member]

US Base Rate [Member]

CAD

USD ($)

CAD

USD ($)

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Effective Percentage Including Effect of Interest Rate Swap Contracts

6.03%

4.99%

5.88%

4.99%

5.88%

Additional borrowings

$25,000,000

Basis spread on variable rate

3.50%

4.50%

3.50%

4.50%

4.00%

5.00%

4.50%

3.50%

4.75%

3.75%

Authorized amount of line of credit

12,000,000

13,500,000

10,000,000

4,000,000

Face amount

56,133,000

6,267,000

17,233,000

31,000,000

Quarterly payment

936,000

133,000

$367,000

$704,000

$367,000

$517,000

COMMITMENTS_Details

COMMITMENTS (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Commitments [Line Items]	'	'	'	'	'
Rental payments	$185	$160	$541	$449	'
Operating Leases, Future Minimum Payments Due, Rolling Maturity [Abstract]	'	'	'	'	'
31-Dec-14	473	'	473	'	'
31-Dec-15	387	'	387	'	'
31-Dec-16	277	'	277	'	'
31-Dec-17	225	'	225	'	'
31-Dec-18	197	'	197	'	'
Thereafter	509	'	509	'	'
Total	2,068	'	2,068	'	'
Charter costs	253	249	760	747	'
Operating Leases, Future Minimum Charter Costs Due, Rolling Maturity [Abstract]	'	'	'	'	'
31-Dec-14	760	'	760	'	'
31-Dec-15	760	'	760	'	'
31-Dec-16	760	'	760	'	'
31-Dec-17	760	'	760	'	'
31-Dec-18	760	'	760	'	'
Thereafter	'	'	'	'	'
Total	3,800	'	3,800	'	'
Contractual commitments	5,677	'	5,677	'	731
Maximum [Member]	'	'	'	'	'
Operating Leases, Future Minimum Payments Due, Rolling Maturity [Abstract]	'	'	'	'	'
Annual increase of charter costs	3.00%	'	3.00%	'	'
Operating leases [Member]	'	'	'	'	'
Commitments [Line Items]	'	'	'	'	'
Rental payments	145	122	422	334	'
Operating sublease [Member]	'	'	'	'	'
Commitments [Line Items]	'	'	'	'	'
Rental payments	$40	$38	$119	$115	'

CONTINGENCIES_Details

CONTINGENCIES (Details) (Unasserted claim, USD $)	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013	Mar. 31, 2013
Unasserted claim	'	'
Contingencies:	'	'
Contingency accrual	$316	$490

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)	0 Months Ended				3 Months Ended		9 Months Ended			9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 21, 2011	Feb. 11, 2011	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013	Dec. 31, 2013
					Series A Preferred Stock [Member]	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]	Maximum [Member]
							D			Series A Preferred Stock [Member]
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Number of shares offered	2,800,000	'	'	'	'	'	'	'	'	'
Sale of stock, price per share	$6	'	'	'	'	'	'	'	'	'
Proceeds from the offering, net of underwriterbs commissions and expenses	$15,525	'	'	'	'	'	'	'	'	'
Shares issued of the Companybs common stock to Buckeye	'	1,305,963	'	'	'	'	'	'	'	'
Share price, average of high and low price	'	$5.17	'	'	'	'	'	'	'	'
Preferred stock, shares authorized	'	'	1,000,000	1,000,000	1,000,000	'	1,000,000	'	'	'
Cash dividend annual rate	'	'	'	'	'	'	7.75%	'	'	'
Price per share basis for dividend	'	'	'	'	'	'	$50	'	'	'
Dividend rate subject to percentage increase every six months	'	'	'	'	'	'	0.50%	'	'	'
Potential dividend rate, maximum	'	'	'	'	'	'	'	'	'	12.00%
Conversion price per share	'	'	'	'	$6.20	$6.20	$6.20	$6.20	'	'
Price per share basis for conversion rate	'	'	'	'	'	'	$50	'	'	'
Conversion option rate, shares	'	'	'	'	'	'	8.065	'	'	'
Conversion option determination, number of trading days price per share exceeds $8.50	'	'	'	'	'	'	20	'	'	'
Conversion option determination, number of trading days cutoff period	'	'	'	'	'	'	30	'	'	'
Conversion option determination, agreed upon price per common share	'	'	'	'	'	'	$8.50	'	'	'
Preferred stock dividends	'	'	$16,095	$13,456	'	'	'	'	'	'
Effective interest rate of preferred dividends	'	'	'	'	12.00%	'	12.00%	'	12.00%	'

STOCKHOLDERS_EQUITY_Sharebased

STOCKHOLDERS' EQUITY (Share-based Compensation) (Details) (USD $)

9 Months Ended

12 Months Ended

0 Months Ended

9 Months Ended

12 Months Ended

15 Months Ended

0 Months Ended

9 Months Ended

54 Months Ended

1 Months Ended

9 Months Ended

12 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Feb. 11, 2011

Dec. 31, 2013

Mar. 31, 2009

Feb. 13, 2008

Dec. 31, 2013

Dec. 31, 2008

Mar. 31, 2013

Mar. 31, 2012

Mar. 31, 2011

Mar. 31, 2010

Jul. 31, 2008

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Jul. 31, 2008

Feb. 29, 2008

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2009

Oct. 13, 2009

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Feb. 24, 2010

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Apr. 05, 2010

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Apr. 08, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Apr. 11, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Feb. 22, 2013

Dec. 31, 2013

Jun. 05, 2013

Dec. 31, 2013

Feb. 15, 2013

Nov. 16, 2009

Sep. 16, 2009

Mar. 31, 2009

Dec. 31, 2013

Mar. 31, 2013

Stock Options [Member]

Long Term Incentive Plan 2007 [Member]

October 13, 2009 Grants [Member]

February 24, 2010 Grants [Member]

April 5, 2010 Grants [Member]

April 8, 2011 Grants [Member]

April 11, 2012 Grants [Member]

February 22, 2013 Grants [Member] [Member]

June 5, 2013 Grants [Member]

Shares Issued in Lieu of Cash Compensation [Member]

Series A Preferred Stock [Member]

Management [Member]

Canadian employees [Member]

Stock Options [Member]

key_executives

executive_officers

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares awarded

478,232

204,336

39,660

76,691

37,133

86,217

45,754

32,387

54,337

94,993

158,325

15,153

Share price, average of high and low price

$5.17

$3.17

$4.34

$5.32

$7.94

$8.68

$5.96

$5.55

Annual vesting rate

20.00%

Expense recorded

$20

$28

$84

$17

$50

$56

$57

$169

$170

$33

$99

$21

$70

$26

$59

Number of key executives to receive awards

Award vesting period

'3 years

'2 years

'3 years

Number of shares authorized

2,500,000

Number of shares available for grant

597,796

662,659

Shares issued to non-employees

12,909

15,261

15,948

10,854

10,722

14,007

37,144

Options expiration period

'10 years

Expected dividend rate

0.00%

Risk free interest rate

4.14%

Expected volatility rate

39.49%

Expected volatility rate measurement period

'P26W

Weighted average remaining contractual term of options outstanding

'4 years 8 months

Number of executive officers asked to receive shares in lieu of cash compensation

Preferred Stock, Effective Dividend Rate, Percentage

12.00%

Number of options outstanding

479,785

Options granted

236,586

243,199

Share-based Compensation

$382

$453

INTEREST_EXPENSE_Details

INTEREST EXPENSE (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Interest Expense [Line Items]	'	'	'	'
Amortization of deferred financing costs	$135	$131	$406	$678
Interest rate swaps	0	275	0	839
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments	3	50	6	50
Deferred payment liability	33	41	105	130
Interest capitalized	0	0	0	-538
Interest expense	2,215	2,705	6,949	7,645
Bank indebtedness	'	'	'	'
Interest Expense [Line Items]	'	'	'	'
Debt	140	175	666	708
Long-term debt - senior	'	'	'	'
Interest Expense [Line Items]	'	'	'	'
Debt	$1,904	$2,033	$5,766	$5,778

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Segment information:	'	'	'	'	'
Revenue	$49,899	$49,542	$148,841	$149,725	'
Property and equipment, net	204,107	'	204,107	'	219,084
Intangible assets	10,916	'	10,916	'	12,612
Goodwill	10,193	'	10,193	'	10,193
Assets	264,637	'	264,637	'	270,838
CANADA	'	'	'	'	'
Segment information:	'	'	'	'	'
Revenue	30,946	27,267	87,912	89,578	'
Property and equipment, net	91,863	'	91,863	'	100,887
Intangible assets	6,917	'	6,917	'	8,081
Goodwill	8,284	'	8,284	'	8,284
Assets	130,890	'	130,890	'	134,230
UNITED STATES	'	'	'	'	'
Segment information:	'	'	'	'	'
Revenue	18,953	22,275	60,929	60,147	'
Property and equipment, net	112,244	'	112,244	'	118,197
Intangible assets	3,999	'	3,999	'	4,531
Goodwill	1,909	'	1,909	'	1,909
Assets	$133,747	'	$133,747	'	$136,608

FINANCIAL_INSTRUMENTS_Details

FINANCIAL INSTRUMENTS (Details) (USD $)	1 Months Ended				3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 12, 2012	Mar. 31, 2013	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 12, 2012	Dec. 12, 2012
	Derivatives not designated as hedging instrument [Member]	Derivatives not designated as hedging instrument [Member]	Interest rate swap contracts [Member]	Interest rate swap contracts [Member]	Interest rate swap contracts [Member]	Interest rate swap contracts [Member]	Interest rate swap contracts [Member]	Interest rate swap contracts [Member]	UNITED STATES	CANADA
	Interest Rate Cap [Member]	Interest Rate Cap [Member]	interest_rate_swap_contracts	Derivatives not designated as hedging instrument [Member]	Derivatives not designated as hedging instrument [Member]	Derivatives not designated as hedging instrument [Member]	Derivatives not designated as hedging instrument [Member]	Derivatives not designated as hedging instrument [Member]	Derivatives not designated as hedging instrument [Member]	Derivatives not designated as hedging instrument [Member]
		interest_rate_swap_contracts		interest_rate_swap_contracts	Other (income) and expenses [Member]	Other (income) and expenses [Member]	Other (income) and expenses [Member]	Other (income) and expenses [Member]	Interest Rate Cap [Member]	Interest Rate Cap [Member]
Derivative [Line Items]	'	'	'	'	'	'	'	'	'	'
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	'	'	'	'	$0	($282)	$0	($824)	'	'
Number of interest rate swap contracts	'	'	2	2	'	'	'	'	'	'
Fixed interest rate	'	'	'	'	'	'	'	'	2.50%	3.00%
Number of contracts entered into	'	2	'	'	'	'	'	'	'	'
Percent of outstanding term debt covered	50.00%	'	'	'	'	'	'	'	'	'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended				9 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2013
Earnings Per Share [Line Items]	'	'	'	'	'	'	'
Common stock, shares issuable	17,929,864	'	'	'	17,929,864	'	17,860,266
Common stock, shares outstanding	17,929,864	'	'	'	17,929,864	'	17,860,266
Common stock, shares authorized	50,000,000	'	'	'	50,000,000	'	50,000,000
Numerator:	'	'	'	'	'	'	'
NET (LOSS) INCOME BEFORE PREFERRED STOCK DIVIDENDS	$1,681	$1,215	$2,578	$3,416	$5,474	$9,393	($3,819)
PREFERRED STOCK DIVIDENDS	-906	'	'	-804	-2,639	-2,344	'
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS	$775	'	'	$2,612	$2,835	$7,049	'
Denominator:	'	'	'	'	'	'	'
Weighted average common shares for basic EPS	17,925,180	'	'	17,726,879	17,906,998	17,723,793	'
Effect of dilutive securities:	'	'	'	'	'	'	'
Average price during period (in dollars per share)	$5.26	'	'	$6.50	$5.31	$7.52	'
Long term incentive stock option plan (in shares)	479,785	'	'	479,785	479,785	479,785	'
Average exercise price of stock options (in dollars per share)	$5.66	'	'	$5.66	$5.66	$5.66	'
Shares that could be acquired with the proceeds of options	0	'	'	417,782	0	361,202	'
Dilutive shares due to options	0	'	'	62,003	0	118,583	'
Weighted average convertible preferred shares at $6.20	2,419,355	'	'	2,419,355	2,419,355	2,419,355	'
Weighted Average Number of Shares Outstanding, Diluted	20,344,535	'	'	20,208,237	20,326,353	20,261,732	'
Weighted Average Number of Shares Outstanding, Basic and Diluted	17,925,180	'	'	17,726,879	17,906,998	17,723,793	'
Basic EPS (in dollars per share)	$0.04	'	'	$0.15	$0.16	$0.40	'
Diluted EPS (in dollars per share)	$0.04	'	'	$0.15	$0.16	$0.40	'
Series A Preferred Stock [Member]	'	'	'	'	'	'	'
Effect of dilutive securities:	'	'	'	'	'	'	'
Conversion price per share	$6.20	'	'	$6.20	$6.20	$6.20	'