International Shipholding (ISH+) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	INTERNATIONAL SHIPHOLDING CORP
Document Type	10-Q
Amendment Flag	false
Entity Central Index Key	278,041
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2016
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,393,406

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Consolidated Statements of Operations [Abstract]
Revenues	$ 53,801	$ 68,026
Operating Expenses
Voyage Expenses	43,077	52,211
Amortization Expense	3,079	5,187
Vessel Depreciation	5,436	5,543
Other Depreciation	225	184
Administrative and General Expenses	4,513	5,022
Impairment Loss	1,934
Loss on Sale of Assets		68
Total Operating Expenses	58,264	68,215
Operating Loss	(4,463)	(189)
Interest and Other
Interest Expense	3,121	2,668
Derivative Loss	1,438	2,810
Loss on Extinguishment of Debt		95
Other Income from Vessel Financing	(449)	(445)
Investment Income	(3)	(7)
Foreign Exchange Loss		45
Total Interest and Other Income	4,107	5,166
Loss Before Provision for Income Taxes and Equity in Net Income of Unconsolidated Entities	(8,570)	(5,355)
Provision for Income Taxes	26	39
Equity in Net Income of Unconsolidated Entities, net	142	893
Net Loss	(8,454)	(4,501)
Preferred Stock Dividends	1,305	1,305
Net Loss Attributable to Common Stockholders	$ (9,759)	$ (5,806)
Loss Per Common Share:
Basic Loss per Share	$ (1.32)	$ (0.79)
Diluted Loss per Share	$ (1.32)	$ (0.79)
Weighted Average Shares of Common Stock Outstanding:
Basic	7,382,966	7,308,482
Diluted	7,382,966	7,308,482
Common Stock Dividends Per Share		$ 0.25

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Condensed Consolidated Statements of Comprehensive Loss [Abstract]
Net Loss		$ (8,454)	$ (4,501)
Other Comprehensive Income (Loss):
Unrealized Foreign Currency Translation Loss		(14)	(61)
Change in Fair Value of Derivatives			240
De-Designation of Interest Rate Swap			2,859
Change in Funded Status of Defined Benefit Plan		168	304
Comprehensive Loss	[1]	(8,300)	(1,159)
Net Tax Expense in Other Comprehensive Loss		$ 0	$ 0
[1]	Due to our valuation allowance referred to in Note 11 - Income Taxes, there was no net tax expense in other comprehensive income (loss) during 2016 and 2015.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and Cash Equivalents	$ 5,989	$ 9,560
Restricted Cash	1,496	1,530
Accounts Receivable, Net of Allowance for Doubtful Accounts	23,352	25,787
Prepaid Expenses	8,594	8,683
Deferred Tax Asset		309
Other Current Assets	340	400
Notes Receivable	3,028	1,628
Material and Supplies Inventory	6,839	7,035
Assets Held for Sale	9,761	51,846
Total Current Assets	59,399	106,778
Vessels, Property, and Other Equipment, Net of Accumulated Depreciation	181,720	188,577
Deferred Charges, Net of Accumulated Amortization	23,048	23,037
Due from Related Parties	1,419	1,415
Notes Receivable	36,333	24,140
Investment in Unconsolidated Entities	314	187
Other Long-Term Assets	2,854	2,168
Total Assets	305,087	346,302
LIABILITIES AND STOCKHOLDERS' EQUITY
Current maturities of long-term debt, net	113,721	156,807
Accounts Payable and Other Accrued Expenses	65,124	60,496
Total Current Liabilities	178,845	217,303
Incentive Obligation	2,302	2,455
Deferred Gains, net of Accumulated Amortization	21,347	14,944
Other	24,339	25,268
Stockholders' Equity:
Common Stock, $1.00 Par Value, 20,000,000 shares authorized, 7,393,406 and 7,333,406 shares outstanding at March 31, 2016 and December 31, 2015, respectively	8,811	8,783
Additional Paid-In Capital	141,691	141,497
Retained Deficit	(35,512)	(27,058)
Treasury Stock 1,388,078 shares at March 31, 2016 and December 31, 2015	(25,403)	(25,403)
Accumulated Other Comprehensive Loss	(11,899)	(12,053)
Total Stockholders' Equity	78,254	86,332
Total Liabilities and Stockholders' Equity	305,087	346,302
9.50% Series A Preferred Stock [Member]
Stockholders' Equity:
Preferred Stock, $1.00 Par Value, 2,000,000 Shares Authorized	250	250
9.00% Series B Preferred Stock [Member]
Stockholders' Equity:
Preferred Stock, $1.00 Par Value, 2,000,000 Shares Authorized	$ 316	$ 316

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Stockholders' Equity:
Preferred Stock, par value (in dollars per share)	$ 1	$ 1
Preferred Stock, shares authorized (in shares)	2,000,000	2,000,000
Common Stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, shares authorized (in shares)	20,000,000	20,000,000
Common Stock, shares outstanding (in shares)	7,393,406	7,333,406
Treasury Stock, (in shares)	1,388,078	1,388,078
9.50% Series A Preferred Stock [Member]
Stockholders' Equity:
Cumulative Perpetual Preferred Stock, coupon rate (in hundredths)	9.50%	9.50%
Cumulative Perpetual Preferred Stock, shares issued (in shares)	250,000	250,000
Cumulative Perpetual Preferred Stock, shares outstanding (in shares)	250,000	250,000
9.00% Series B Preferred Stock [Member]
Stockholders' Equity:
Cumulative Perpetual Preferred Stock, coupon rate (in hundredths)	9.00%	9.00%
Cumulative Perpetual Preferred Stock, shares issued (in shares)	316,250	316,250
Cumulative Perpetual Preferred Stock, shares outstanding (in shares)	316,250	316,250

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net Loss	$ (8,454)	$ (4,501)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:
Depreciation	5,661	5,727
Amortization of Deferred Charges	3,575	4,840
Amortization of Intangible Assets		626
Non-Cash Share Based Compensation	233	2
Equity in Net Income of Unconsolidated Entities	(142)	(893)
Impairment Loss	1,934
Loss on Sale of Assets		68
Loss on Extinguishment of Debt		95
Loss on Foreign Currency Exchange		45
Loss on Derivatives	1,438	2,810
Amortization of Deferred Gains	(855)	(948)
Other Reconciling Items, net	(77)	110
Changes in operating assets and liabilities:
Deferred Drydocking Charges	(2,942)	(5,515)
Accounts Receivable	2,440	(878)
Inventory and Other Current Assets	140	3,906
Other Assets	(800)
Accounts Payable and Accrued Liabilities	2,618	(3,839)
Other Long-Term Liabilities	(229)	250
Net Cash Provided by Operating Activities	4,540	1,905
Cash Flows from Investing Activities:
Purchases of and Capital Improvements to Property and Equipment	(1,549)	(3,250)
Net Change in Restricted Cash Account	34	1,003
Cash Proceeds from the State of Louisiana		122
Cash Proceeds from Sale of Assets	5,093	2,861
Cash Proceeds from Receivable Settlement		3,890
Proceeds from Payments on Note Receivables	407	670
Net Cash Provided by Investing Activities	3,985	5,296
Cash Flows from Financing Activities:
Proceeds from Line of Credit		5,000
Payments on Line of Credit		(2,500)
Principal Payments on Debt	(12,010)	(5,890)
Additions to Deferred Financing Charges	(86)	(28)
Dividends Paid		(3,133)
Net Cash Provided by (Used In) Financing Activities	(12,096)	(6,551)
Net Increase (Decrease) in Cash and Cash Equivalents	(3,571)	650
Cash and Cash Equivalents at Beginning of Period	9,560	21,133
Cash and Cash Equivalents at End of Period	5,989	21,783
Supplemental disclosure of non-cash investing and financing activities:
Purchases of and Capital Improvements to Property and Equipment included in Accounts Payable and Accrued Liabilities	7,803	823
Proceeds from the Sale of Assets paid directly to lenders for Principal Payments on Debt	$ 30,765	$ 13,494

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Business and Basis of Presentation [Abstract]
Business and Basis of Presentation	NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Three Months Ended March 31, 2016  NOTE 1 – BUSINESS AND BASIS OF PRESENTATION Financial Position We operate a diversified fleet of U.S. and International flag vessels that provide international and domestic m aritime transportation services . Since 2014, we have suffered substantial losses and encountered significant challenges related to complying with our debt covenants and meeting our minimum liquidity requirements to operate. Between late 2014 and mid-2015, we sold various assets to raise cash and improve our financial position. We also took various other steps to improve our liquidity, including eliminating our dividends, laying up vessels and reducing our costs. In addition, in June of 2015, we initiated efforts to refinance all of our debt and operating leases by September 30, 2015, and thereafter sought to raise funds by either selling debt securities or borrowing funds from financial institutions. We also requested limited debt covenant waivers as of September 30, 2015 from all of our lenders and lessors in case our attempts to refinance our debt and leases were unsuccessful. By early October 2015, we withdrew our efforts to refinance our debt, began negotiations with all of our lenders and lessors to receive additional limited waivers and began to formulate a new strategy designed to improve our liquidity and financial position. On October 21, 2015, our Board of Directors approved a plan (“Strategic Plan”) to restructure the Company by focusing on our three core segments - the Jones Act, PCTC and Rail-Ferry segments. Since that date, we have modified that plan in response to new developments, including our efforts to sell assets and discussions with our lenders, lessors, directors and others. Throughout this Form 10-Q, we use the term “Strategic Plan” specifically to refer to the Board approved plan to restructure the Company, as modified through the date hereof . The Strategic Plan, as originally approved by the Board, contemplated that we would, among other things (i) divest of one international-flagged PCTC vessel, one inactive Jones Act tug/barge unit and certain businesses and contracts during the fourth quarter of 2015, (ii) divest all of our vessels, minority investments and contracts included in our Dry Bulk Carriers, Specialty Contracts and Other segments, as well as sell or enter into a sale leaseback of our office building being constructed in New Orleans by March 31, 2016, (iii) divest of certain brokerage contracts by June 30, 2016, (iv) apply substantially all of the net proceeds from these divestitures to discharge indebtedness and (v) reduce our operating and administrative costs. We presented the Strategic Plan to all of our lenders and lessors, and on or about November 16, 2015, we were successful in obtaining an additional set of limited debt covenant waivers through March 31, 2016 and received relief from testing compliance of most of these covenants until June 30, 2016. These waivers were temporary one-time waivers, and the lenders and lessors had no obligation, express or implied, to waive any other defaults or grant any other extensions. The waivers were contingent upon our continued performance with the terms of the credit facilities, as amended, including newly-imposed requirements to timely implement the Strategic Plan and to apply substantially all of the net proceeds from the asset sales contemplated by such plan to retire debt owed under such facilities. We are currently in default on our loan agreements. In February of 2016, we received letters of default from three of our secured lenders as a result of failing to timely execute the sale of certain assets and failing to meet certain financial covenants. Since then, we defaulted under several other provisions of our credit facilities, including certain payment defaults. While our principal lenders had the right to remedy the events of default at any time, they subsequently agreed to defer payments or forbear from exercising these rights in the short term under the terms and conditions specified below in Note 22 – Subsequent Events . While none of our lenders or lessors have exercised their full rights under the credit facilities, including calling for immediate full payment, we cannot assure you that they will not exercise their rights in the future. As a result of the matters described herein, including the uncertainty regarding our ability to fully execute the Strategic Plan, our secured lenders’ abilities to demand payment and foreclose on our vessels under our debt agreements and our limited refinancing prospects, there is substantial doubt about our ability to continue as a going concern . Because of the uncertainties associated with our ability to implement the Strategic Plan within the required time constraints, since September 30, 2015, we have classified all of our debt obligations (net of deferred debt issuance costs), which were approximately $ 113.7 million at March 31, 2016, as current, which has caused our current liabilities to far exceed our current assets since such date. While we have classified all of our outstanding debt as current on our consolidated balance sheet as of March 31, 2016, none of our creditors have thus far accelerated our debt and demanded immediate full payment prior to a mutually agreed upon maturity date (except for mandatory prepayments in connection with the sale of specified collateral ). During the first quarter of 2016, we completed the sale of the remaining assets in our Dry Bulk Carriers segment (consisting of two handysize vessels and one capesize vessel) and our 30% investment in two chemical and two asphalt tankers. Additionally, we exchanged our equity share in mini-bulkers for a 2008 mini-bulk carrier. Immediately following the exchange, we sold the 2008 mini-bulker to an Indonesian shipping company, and on April 1, 2016, we commenced providing technical services for this vessel on behalf of its owner. We intend to report all revenues from the services we provide on this vessel within our Specialty Contracts segment. By the end of the first quarter of 2016, the remaining assets originally identified for disposal by the Strategic Plan were as follows: (i) the inactive tug included in our Jones Act segment, (ii) our New Orleans office building, and (iii) a small, non-strategic portion of our operations that owns and operates a certified rail-car repair facility near the port of Mobile, Alabama. Accordingly, we continued to classify these assets as held for sale as of March 31, 2016. During the first quarter of 2016, we recorded non-cash impairment charges of approximately $ 1.9 million – refer to Note 3 – Impairment Loss for further discussion. On April 7, 2016, we sold our New Orleans office building in exchange for relief from amounts owed to the construction company, which we included in accounts payable and other accrued expenses on our Condensed Consolidated Balance Sheet at March 31, 2016 . Additionally, we finalized the sale of our Jones Act inactive barge in April of 2016 and applied the net proceeds to reduce outstanding debt. See Note 22 – Subsequent Events . As of the date of this report, the divestitures we have made thus far have been limited to those identified under the Strategic Plan, as well as one Jones Act inactive barge. The proceeds from these transactions have allowed us to reduce our gross debt obligations, in addition to regularly-scheduled principal payments, by approximately $ 82.3 million. Based on our current financial position and weak conditions in the shipping industry, we believe it is highly unlikely that we will be able to refinan ce all of our existing indebtedness in the near term. As such, as we continue our efforts to improve our liquidity and leverage levels, we will monitor the feasibility of other potential actions that could help us attain similar results, including divesting of assets within our core segments – Jones Act, Rail-Ferry, and PCTC. For more information on our Strategic Plan and current debt compliance matters, see Note 5 – Debt and Lease Obligations and Note 22 – Subsequent Events. Basis of Presentation We have prepared the accompanying unaudited interim financial statements pursuant to the rules and regulations of the SEC and as permitted hereunder, we have omitted certain information and footnote disclosures required by GAAP for complete financial statements. We recommend you read these interim statements in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. The Condensed Consolidated Balance Sheet as of December 31, 2015 included in this report has been derived from the audited financial statements at that date. The foregoing 2016 interim results are not necessarily indicative of the results of operations for the full year 2016. Management believes that it has made all adjustments necessary, consisting only of normal recurring adjustments, for a fair statement of the information presented. The accompanying financial statements include the accounts of International Shipholding Corporation and its majority owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Our policy is to consolidate all subsidiaries in which we hold a greater than 50% voting interest or otherwise control its operating and financial activities. We use the equity method to account for investments in entities in which we hold a 20% to 50% voting interest and have the ability to exercise significant influence over their operating and financial activities. Revenues and expenses relating to our Rail Ferry, Jones Act, and Specialty Contracts segments’ voyages are recorded over the duration of the voyage. Our voyage expenses are estimated at the beginning of the voyages based on historical actual costs or from industry sources familiar with those types of charges. As the voyage progresses, these estimated costs are revised with actual charges and timely adjustments are made. Based on our prior experience, we believe there is not a material difference between recording estimated expenses ratably over the voyage versus the actual expenses recorded as incurred. Revenues and expenses relating to our other vessels’ voyages, which require limited estimates or assumptions, are recorded when earned or incurred during the reporting period. We have eliminated intercompany balances, accounts, and transactions in consolidation. Certain previously reported amounts have been reclassified to conform to the 2016 presentation. Specifically, we have reclassified from other long-term liabilities approximately $ 14.9 million of deferred gains, net of accumulated amortization, on our Condensed Consolidated Balance Sheet as of December 31, 2015. Additionally, i n connection with the preparation of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, we included certain non-cash transactions in the change of both cash proceeds from sale of assets (investing) and principal payments on long term debt (financing) when preparing our Consolidated Statement of Cash Flow. Accordingly, we prepared our Consolidated Statement of Cash Flows for the six and nine months ended June 30, 2015 and September 30, 2015, respectively, on that basis. We subsequently concluded that including those transactions within the cash provided by investing activities and cash used in financing activities was an error. Accordingly, we prepared our Consolidated Statement of Cash Flow for the year ended December 31, 2015 to exclude the non-cash transactions, thereby reducing cash proceeds from sale of assets and reducing principal payments on long term debt by approximately $ 13.5 million and disclosed these non-cash transactions within Note B – Supplemental Cash Flow Information of our Annual Report on Form 10-K for the year ended December 31, 2015. The revisions did not impact net cash provided by operating activities. Pursuant to the guidance of Staff Accounting Bulletin No. 99, “Materiality”, the Company evaluated the materiality of these amounts quantitatively and qualitatively and has concluded that the amounts described above were not material to any of its quarterly financial statements or trends of financial results. We have revised our Consolidated Statement of Cash Flow to exclude these non-cash transactions of approximately $13.5 million for the three months ended March 31, 2015.

Operating Segments

Operating Segments	3 Months Ended
	Mar. 31, 2016
Operating Segments [Abstract]
Operating Segments	NOTE 2 – OPERATING SEGMENTS Prior to adopting our Strategic Plan, we operated six separate segments – Jones Act, Pure Car Truck Carriers, Dry Bulk Carriers, Rail Ferry, Specialty Contracts, and Other. We distinguish our segments primarily by the market in which the segment assets are deployed, the physical characteristics of those assets, and the type of services provided to our customers. We report in the Other segment the results of several of our subsidiaries that provide ship and cargo charter brokerage, ship management services and agency services to our operating subsidiaries as well as third party customers. Also included in the Other segment are corporate related items, results of insignificant operations, and income and expense items not allocated to the other reportable segments. We manage each reportable segment separately, as each requires different resources depending on the nature of the contract or terms under which the vessels within the segment operate. We use “gross voyage profit” as the primary measure for our segments’ profitability to assist our chief operating decision makers in monitoring and managing our business. Due to the diversity across our segments, we believe measuring gross voyage profit is the most efficient way of measuring contribution margins by segment. We define gross voyage profit as the sum of revenue, less voyage expense, less amortization expense plus the results from our unconsolidated entities. Historically, we have included the results of two of our unconsolidated entities, Oslo Bulk, AS and Oslo Bulk Holding Pte. Ltd., in our Dry Bulk Carriers segment, the results of Terminales Transgolfo, S.A. de C.V., in our Rail Ferry segment, and the results of our remaining unconsolidated entities, Saltholmen Shipping Ltd and Brattholmen Shipping Ltd in our Specialty Contracts segment. We do not allocate the following to our segments: (i) administrative and general expenses, (ii) (gain) loss on sale of other assets, (iii) derivative (gain) loss, (iv) income taxes, (v) impairment loss, (vi) loss on extinguishment of debt, (vii) other income from vessel financing, (viii) investment income, and (ix) foreign exchange loss. Intersegment revenues are based on market prices and include revenues earned by our subsidiaries that provide specialized services to our operating companies, which we eliminate in consolidation. In connection with the implementation of our Strategic Plan, by the end of the first quarter of 2016, we had sold or exchanged all of the assets formerly included in our Dry Bulk Carriers segment. Accordingly, effective during first quarter of 2016, we have discontinued reporting under this segment. For more information regarding these disposals and the disposal of other of our unconsolidated entities , refer to Note 7 – Unconsolidated Entities . As our financial position continues to change and as new or different divestiture opportunities arise, the number of vessels operated by us will continue to decrease, our operations will be further reconfigured and our fleet will be less diversified. Although the implementation of our Strategic Plan has reduced the number of our vessels and operating segments, we do not believe that the plan has significantly changed our business strategy or our historical practices. RESULTS OF OPERATIONS three MONTHS ENDED March 31, 2016 COMPARED TO THE three MONTHS ENDED March 31, 2015        (All Amounts in Thousands) Pure Car  Jones Truck Dry Bulk Rail Specialty  Act Carriers Carriers Ferry Contracts Other Total  2016  Fixed Revenue $ 22,746 $ 11,577 $ - $ - $ 7,169 $ - $ 41,492  Variable Revenue - 4,981 - 6,775 439 114 12,309  Total Revenue 22,746 16,558 - 6,775 7,608 114 53,801  Voyage Expenses 17,019 14,131 - 5,428 6,423 76 43,077  Amortization Expense 2,216 556 - 254 53 - 3,079  (Income) of Unconsolidated Entity - - - (142) - - (142)  Gross Voyage Profit* $ 3,511 $ 1,871 $ - $ 1,235 $ 1,132 $ 38 $ 7,787   Gross Voyage Profit Margin 15% 11% - 18% 15% - 14%   2015  Fixed Revenue $ 24,595 $ 14,247 $ 1,868 $ - $ 10,571 $ - $ 51,281  Variable Revenue - 7,533 1,255 7,534 185 238 16,745  Total Revenue 24,595 21,780 3,123 7,534 10,756 238 68,026  Voyage Expenses 18,590 17,020 2,580 6,635 7,557 (171) 52,211  Amortization Expense 3,828 715 61 285 298 - 5,187  (Income) Loss of Unconsolidated Entities - - (635) 74 (332) - (893)  Gross Voyage Profit* $ 2,177 $ 4,045 $ 1,117 $ 540 $ 3,233 $ 409 $ 11,521   Gross Voyage Profit Margin 9% 19% 36% 7% 30% - 17%   * Excludes Depreciation Expense    The following table is a reconciliation of the totals reported for the operating segments to the applicable line items in the consolidated financial statements:     (All Amounts in Thousands) Three Months Ended  March 31, 2016 March 31, 2015  Revenues $ 53,801 $ 68,026   Voyage Expenses 43,077 52,211  Amortization Expense 3,079 5,187  Net Income of Unconsolidated Entities (142) (893)   Gross Voyage Profit 7,787 11,521   Vessel Depreciation 5,436 5,543  Other Depreciation 225 184   Gross Profit 2,126 5,794   Other Operating Expenses:  Administrative and General Expenses 4,513 5,022  Impairment Loss 1,934 -  Loss on Sale of Other Assets - 68  Less: Net Income of Unconsolidated Entities 142 893  Total Other Operating Expenses 6,589 5,983   Operating Loss $ (4,463) $ (189) 

Impairment Loss

Impairment Loss	3 Months Ended
	Mar. 31, 2016
Impairment Loss [Abstract]
Impairment Loss	NOTE 3 – IMPAIRMENT LOSS We test long-lived assets for impairment when events or circumstances indicate that the carrying value of a particular asset may not be recoverable. Subsequent to the filing of our Annual Report on Form 10-K for the year ended December 31, 2015 , we received offers to purchase certain of our Jones Act vessels for prices below their book values. These vessels were the inactive tug identified under the Strategic Plan, as well as an inactive barge and an inactive harbor tug. Using these offer prices to approximate fair value, we recorded the following non-cash impairment charges : (i) $ 0.4 million related to the inactive tug identified under the Strategic Plan, (ii) $ 0.9 million related to the inactive barge, and (iii) $ 0.1 million to fully write off the value of the inactive harbor tug. The inactive barge was not classified as held for sale at March 31, 2016 as its sale required lender approval. As noted in Note 22 – Subsequent Events , during April 2016 we received this lender approval and sold the vessel . Additionally, during the first quarter of 2016, we pursued several contracting opportunities for our belt self-unloading bulk carrier, which is included in the Jones Act segment. Based on the input we received from prospective customers, we determined at the end of the first quarter of 2016 that it was unlikely that we will deploy this vessel into service within our Gulf of Mexico operations; as a result, we wrote off approximately $ 0.4 million related to capital costs specific to Gulf of Mexico contracts. Based on the final closing costs of our New Orleans office building, we recorded additional non-cash impairment charges of approximately $ 0.1 million to further reduce this asset to fair market value less costs to sell. We finalized the sale of this asset subsequent to March 31, 2016 - see Note 22 – Subsequent Events for further discussion.

Assets Held For Sale

Assets Held For Sale	3 Months Ended
	Mar. 31, 2016
Assets Held For Sale [Abstract]
Assets Held For Sale	NOTE 4 – ASSETS HELD FOR SALE Since 2014, we have encountered certain challenges related to complying with our debt covenants and overall liquidity restraints. In an attempt to strengthen our financial position, on October 21, 2015, our Board of Directors approved a plan to restructure the Company to reduce our debt to more manageable levels and to increase our liquidity . Since that date, we have modified the Strategic Plan in response to new developments, including our efforts to sell assets and our ongoing discussions with our lenders, lessors, directors and others. Pursuant to the Strategic Plan, as amended, we classified the following assets as held for sale at December 31, 2015: (i) the assets in our Dry Bulk Carriers segment, (ii) the inactive tug included in our Jones Act segment, (iii) our minority interests in mini-bulkers in our Dry Bulk Carriers segment, (iv) our minority interests in chemical and asphalt tankers in our Specialty Contracts segment, (v) our New Orleans office building, and (vi) a small, non-strategic portion of our operations that owns and operates a certified rail-car repair facility near the port of Mobile, Alabama. During the first quarter of 2016, we completed the following sales : · We sold our two handysize vessels for cash proceeds of approximately $ 20.7 million, which we used to partially pay down the related debt of $ 25.1 million. Prior to sale, these vessels were included in our Dry Bulk Carriers segment and had previously been written down to fair value less costs to sell. · We sold our capesize bulk carrier for cash proceeds of approximately $ 10.1 million, which was used to pay off the related debt of $ 8.6 million. We used the remaining sales proceeds of $ 1.5 million to pay down the outstanding principal balance on the handysize vessels discussed above. Prior to sale, this vessel was also included in our Dry Bulk Carriers segment and had previously been written down to fair value less costs to sell. · We exchanged our 25% and 23.68% shareholding interests in Oslo Bulk AS and Oslo Bulk Holding Pte Ltd, respectively, which together deployed fifteen mini-bulkers in the spot market or on short- to medium-term time charters, for a 2008 mini-bulker . Prior to the exchange, these interests were included in our Dry Bulk Carriers segment. Immediately following the exchange, we sold the 2008 mini-bulker, and on April 1, 2016, we commenced providing technical services for this vessel on behalf of its owner. We intend to report all revenues from these services within our Specialty Contracts segment. · We sold our 30% interests in Saltholmen Shipping Ltd and Brattholmen Shipping Ltd, which were organized to purchase and operate two newbuilding chemical tankers and two asphalt tankers, for $ 5.7 million and $1.5 million, respectively. As of March 31, 2016, we continued to classify as held for sale the following assets: (i) the inactive tug included in our Jones Act segment, (ii) our New Orleans office building, and (iii) a small, non-strategic portion of our operations that owns and operates a certified rail-car repair facility near the port of Mobile, Alabama. While we continue to actively market these assets, we have ceased depreciating them . Subsequent to March 31, 2016, we sold our New Orleans office building in exchange for relief from amounts owed to the construction company, which we included in accounts payable and other accrued expenses on our Condensed Consolidated Balance Sheet at March 31, 2016 . For further discussion regarding this sale, refer to Note 22 – Subsequent Events.

Debt And Lease Obligations

Debt And Lease Obligations	3 Months Ended
	Mar. 31, 2016
Debt And Lease Obligations [Abstract]
Debt and Leases Obligations	NOTE 5 – DEBT AND LEASE OBLIGATIONS The Company and its domestic subsidiaries (which we sometimes refer to as the “credit parties”) are indebted under five secured financing agreements. We have pledged, among other things, all of the vessels that we own to secure our obligations under these agreements. All five of our principal credit agreements require us to comply with various loan covenants, including financial covenants that require minimum levels of net worth, working capital, liquidity, and interest expense or fixed charges coverage and a maximum amount of debt leverage. Since early 2014, we have struggled to meet certain of our required debt covenants. Consequently, we solicited and received from our lenders amendments to or waivers from various of these covenants to assure our compliance therewith as of the end of the first, third, and fourth quarters of 2014 and the end of the first, second, third and fourth quarters of 2015. For more complete information regarding these historical waivers, see the discussion of our debt covenant compliance set forth in our periodic reports filed since January 1, 2014 with the SEC and as set forth in our Annual Report on Form 10-K for the year ended December 31, 2015. Since late September 2015, our lenders and lessors have provided a series of additional default waivers, including waivers granted in connection with recent credit facility amendments entered into on or prior to November 16, 2015. These amendments also effected a series of additional substantive amendments to each of our credit facilities, including but not limited to accelerated repayment terms, increased interest rates, and required asset divestitures by specified milestone deadlines and at specified amounts. Since November 16, 2015, we have received various additional types of relief from our lenders to address certain covenant defaults and to authorize changes to our divestiture plans. Please refer to Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015 and the additional disclosures herein for further details regarding these waivers and amendments. We are currently in default on our loan agreements. In February of 2016, we received letters of default from three of our secured lenders as a result of failing to timely execute the sale of certain assets and failing to meet certain financial covenants. Since then, we defaulted under several other provisions of our credit facilities, including certain payment defaults. While our principal lenders had the right to remedy the events of default at any time, they subsequently agreed to defer payments or forbear from exercising these rights in the short term under the terms and conditions specified below in Note 22 – Subsequent Events . While none of our lenders or lessors have exercised their full rights under the credit facilities, including calling for immediate full payment, we cannot assure you that they will not exercise their rights in the future. As a result of the matters described herein, including the uncertainty regarding our ability to fully execute the Strategic Plan, our secured lenders’ abilities to demand payment and foreclose on our vessels under our debt agreements and our limited refinancing prospects, there is substantial doubt about our ability to continue as a going concern. During the first quarter of 2016, we made principal payments on debt of approximately $ 12.0 million. Of these payments, approximately $ 5.0 million was related to regularly-scheduled principal payments and $ 7.0 million was related to various requirements from lenders imposed in connection with transactions undertaken pursuant to our Strategic Plan. Additionally, we sold our two handysize vessels and capesize bulk carrier, all of the proceeds of which were furnished directly to our lenders, resulting in approximately $ 30.8 million in non-cash activity that reduced our consolidated indebtedness. Because of the uncertainties associated with our ability to implement the Strategic Plan within the required time constraints, since September 30, 2015, we have classified all of our debt obligations (net of deferred debt issuance costs), which were approximately $ 113.7 million at March 31, 2016, as current, which has caused our current liabilities to far exceed our current assets since such date . While we have classified all of our outstanding debt as current on our consolidated balance sheet as of March 31, 2016, none of our creditors have thus far accelerated our debt and demanded immediate full payment prior to a mutually agreed upon maturity date (except for mandatory prepayments in connection with the sale of specified collateral). As of March 31, 2016 and December 31, 2015, we had deferred debt issuance costs of approximately $ 3.3 million and $3.0 million, respectively, which we include as an offset to current maturities of long-term debt on our Condensed Consolidated Balance Sheets. Amortization expense related to these charges was $ 0.4 million and $0.2 million for the three months ended March 31, 2016 and 2015, respectively. Credit Facility We currently maintain a senior secured credit facility with a syndicate of lenders led by Regions Bank, which was comprehensively amended on November 13, 2015 (as so amended, the “Credit Facility”). At March 31, 2016, we had an aggregate of $ 65.8 million of credit outstanding under the Credit Facility, consisting of (i) $ 31.0 million of borrowings under the revolving credit facility component thereof (the “LOC”), (ii) $ 28.0 million under the term loan facility component thereof and (iii) $ 6.8 million of letters of credit issued under the LOC. We currently have no additional borrowing capacity under this facility. For more information, refer to “ Recent Financing Agreement Waivers and Amendments ” below. Under the Credit Facility, each of our domestic subsidiaries is a joint and several co-borrower. The obligations of all the borrowers under this facility are secured by all personal property of the borrowers, excluding certain real property, but including the U.S. flagged vessels owned by our domestic subsidiaries and collateral related to such vessels. Several of our international-flagged vessels are pledged as collateral securing several of our other secured debt facilities. The Credit Facility includes usual and customary covenants and events of default for credit facilities of its type, including, among others, (i) covenants that restrict our ability to engage in certain asset sales, mergers or other fundamental changes, to incur liens or to engage in various other transactions or activities and (ii) various financial covenants, including those stipulating as of March 31, 2016 that we maintain a consolidated leverage ratio not to exceed 5.0 to 1.0, an EBITDAR to fixed charges ratio of at least 1.05 to 1.0, liquidity of not less than $20.0 million, and a consolidated net worth of not less than the sum of $228.0 million, minus impairment losses, plus 50% of our consolidated net income earned after December 31, 2011, excluding impairment loss, plus 100% of the proceeds of all issuances of equity interests received after December 31, 2011 (with all such terms or amounts as defined in or determined under the Credit Facility). Since December 31, 2015, the lenders have agreed to waive our non-compliance with the consolidated net worth, minimum liquidity, consolidated fixed charge coverage ratio and the consolidated leverage ratio covenants through March 31, 2016. For more information, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015. Other Financing Agreements As of March 31, 2016 and December 31, 2015, our debt obligations were as follows:      (All Amount in Thousands) Interest Rate Maturity Total Principal Due  Description of Secured Debt March 31, 2016 December 31, 2015 Date March 31, 2016 December 31, 2015  ING – Variable Rate 1 - % 4.6930 % 2018 $ - $ 8,589  ING – Variable Rate 1 4.9106 4.6947 -4.7336 2018 1,851 25,146  ING – Variable Rate 1 - 4.8199 2018 - 2,800  Capital One N.A. – Variable Rate 2 2.7885 2.5938 2017 6,274 6,904  Regions – Variable Rate 3 9.6900 9.4400 2017 27,965 33,090  Regions Line of Credit 3 9.6900 9.4400 2017 31,000 31,000  DVB Bank SE – Fixed Rate 4 6.3500 6.3500 2020 32,348 33,664  RBS – Variable Rate 5 4.1874 3.9900 2021 17,632 18,651  117,070 159,844  Less: Current Maturities (113,721) (156,807)  Less: Debt Issuance Costs (3,349) (3,037)  Long-Term Debt $ - $ -  1. We entered into a variable rate financing agreement with ING Bank N.V, London branch in August 2010 for a seven year facility to finance the construction and acquisition of three handysize vessels. Pursuant to the terms of the facility, the lender agreed to provide a secured term loan facility divided into two tranches which corresponded to the vessel delivery schedule. Tranche I covered the first two vessels delivered with Tranche II covering the last vessel. Tranche I was fully drawn in the amount of $36.8 million, and Tranche II fully drawn at $18.4 million We entered into a variable rate financing agreement with ING Bank N.V., London branch in June 2011 for a seven year facility to finance the acquisition of a capesize vessel and a supramax bulk carrier newbuilding, both of which we acquired a 100% interest in as a result of our acquisition of Dry Bulk. Pursuant to the terms of the facility, the lender agreed to provide a secured term loan facility divided into two tranches: Tranche A, fully drawn in June 2011 in the amount of $24.1 million, and Tranche B, providing up to $23.3 million of additional credit. Under Tranche B, we drew $6.1 million in November 2011 and $12.7 million in January 2012. In order to aid in the collateral value coverage covenant, both of the above facilities were merged into one facility without altering the debt maturities or terms of our indebtedness. Effective November 4, 2015, the interest rate was increased from LIBOR plus 2.5% to LIBOR plus 4.5% . For other changes to the credit facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015. 2. In December 2011, we entered into a variable rate financing agreement with Capital One N.A. for a five year facility totaling $ 15.7 million to finance a portion of the acquisition price of a multi-purpose ice strengthened vessel. This loan requires us to make 59 monthly payments with a final balloon payment of $ 4.7 million in January 2017. 3. Our original senior secured Credit Facility was scheduled to mature on September 24, 2018 and included a term loan facility in the principal amount of $45.0 million and a LOC in the principal amount of up to $40 .0 million. The LOC facility originally included a $20.0 million sublimit for the issuance of standby letters of credit and a $5.0 million sublimit for swingline loans. As discussed above, o n November 13, 2015, the Credit Facility was amended. The maturity date was accelerated to July 20, 2017. Additionally, the interest rate increased from LIBOR plus 3.5% to LIBOR plus 9.25% which is effective from November 13, 2015 through June 30, 2016 and LIBOR plus 10.0% from July 1, 2016 through July 20, 2017. For other changes to the credit facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015. 4. We entered into a fixed rate financing agreement with DVB Bank SE, on August 26, 2014 in the amount of $38.5 million, collateralized by our 2007 PCTC at a rate of 4.35% with 24 quarterly payments and a final balloon payment of $20.7 million in August 2020. This loan requires us to pre-fund a one-third portion of the upcoming quarterly scheduled debt payment, which, at March 31, 2016, constituted $0.5 million and is included as restricted cash on our Condensed Consolidated Balance Sheet. Effective November 4, 2015, the interest rate increased from 4.35% to 6.35% . For other changes to the credit facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015 . 5. We have a $23.0 million loan with Citizens Asset Finance (formerly RBS Asset Finance) that is collateralized by one of our 1999 PCTCs at a variable rate equal to the 30-day Libor rate plus 2.75% payable in 84 monthly installments with the final payment due August 2021. Late in 2015, this loan agreement was amended to include an increase to the annual interest rate of 1.0 % and in April 2016 this loan agreement was further amended to include an additional increase to the annual interest rate of 0.5% . For additional changes to this facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015 . During the first quarter of 2015, we paid off approximately $ 13.5 million in debt in connection with the sale of one of our handysize vessels. Additionally , we wrote off approximately $ 95,000 of unamortized loan costs associated with the debt instrument which is reflected in loss on extinguishment of debt on our Condensed Consolidated Statements of Operations. Operating Lease Obligations As of March 31, 2016, we held two container vessels and two multi-purpose vessels under operating contracts, as well as a 2008 mini-bulk carrier that we exchanged for our minority investments in two unconsolidated entities and subsequently sold during the first quarter of 2016. Additionally, we held seven vessels under bareboat charter or lease agreements, which included the molten -sulphur carrier in our Jones Act segment, two PCTCs, and two tankers and two multi-purpose heavy lift dry cargo vessels in our Specialty Contracts segment. As of March 31, 2016, we held three vessels under operating lease contracts, which included the molten-sulphur carrier in our Jones Act segment and the two PCTCs discussed above. These lease agreements impose certain financial covenants, including defined minimum working capital and net worth requirements, and prohibit us from incurring, without the lessor’s prior written consent, additional debt or lease obligations, subject to certain specified exceptions. These financial covenants are generally similar, but not identical, to the financial covenants set forth under our Credit Facility discussed above. Additionally, our vessel operating lease agreements contain early buy-out options and fair value purchase options that enable us to purchase the vessels under certain specified circumstances. In the event that we default under any of our operating lease agreements, we may be forced to buy back the three vessels for a stipulated aggregate loss value of approximately $ 7 0.6 million as of March 31, 2016. As discussed further in Note 22 – Subsequent Events , (i) one of our lessors has executed a contingent agreement to defer through May 15, 2016 receipt of certain specified payments and (ii) the other two lessors have declined to execute similar deferral agreements, and thereby have retained all of their rights to declare us in default under the leases and to exercise all of their default remedies, including forcing us to buy back the vessels leased from them at the prices stipulated in the leases. As of March 31, 2016, we had deferred gains related to certain of these leased vessels. As of March 31, 2016, the unamortized balance of these deferred gains was $ 22.5 million, of which $ 21.3 million was included in other long-term liabilities and $ 1.2 million was included in accounts payable and accrued expenses. As of December 31, 2015, the unamortized balance of these deferred gains was $ 15.3 million, of which $ 14.9 million was included in other long-term liabilities and $ 0.4 million was included in accounts payable and accrued expenses. During the three months ended March 31, 2016, we had additional deferred gains of $ 8.1 million related to the sale of our 2008 mini-bulk carrier, which was slightly offset by amortization expense of $ 0.9 million. Other Lease Obligations We also conduct certain of our operations from leased office facilities. In 2008, we executed a lease agreement, which expires in June of 2018, for office space in New York, New York to house our brokerage operations. In 2013, we executed a five year lease agreement for office space in Tampa, Florida housing our UOS employees. The lease calls for graduated payments in equal amounts over the 60 -month term of the lease. In addition to the Tampa office, we have a month to month lease agreement for our Shanghai, China office space, which we are currently in the process of closing. We are in the process of relocating our corporate headquarters from Mobile, Alabama to New Orleans, Louisiana. We expect the transition to be completed by the second quarter of 2017. We estimate that we will be committed to pay up to approximately $ 2.7 million for the early cancelation of our Mobile office lease. We received two grants from the State of Louisiana of approximately $ 5.2 million and $5.1 million, which will partially offset costs related to the New Orleans office building and other relocation expenses, respectively. Recent Financing Agreement Waivers and Amendments During the first quarter of 2016, we executed additional amendments with each of our lenders and lessors. The substance of each of these amendments included extending the deadlines to certain transactions that were part of our Strategic Plan, including the sales of our inactive Jones Act barge, rail repair facility, certain contracts and the sale or sale leaseback of our New Orleans office building. In addition to approving the aforementioned extensions, certain of our lenders and lessors approved the substitution of the sale of certain assets, certain lower specified divestiture prices, and redefining the definition of EBITDA to include non-cash gains and losses. In connection with entering into these amendments, we have further agreed to pay various fees to our lenders and lessors and to reimburse them for various of their costs incurred in connection with the amendments or their future monitoring of our financial position or performance. We have also agreed to take or omit to take various other actions designed to protect the interest of the creditors, including agreements to create various earnings or retention accounts, to provide enhanced information about our financial position or performance, to deliver certain appraisals and to provide certain subordination undertakings. We are currently in default on our loan agreements. In February of 2016, we received letters of default from three of our secured lenders as a result of failing to timely execute the sale of certain assets and failing to meet certain financial covenants. Since then, we defaulted under several other provisions of our credit facilities, including certain payment defaults. While our principal lenders had the right to remedy the events of default at any time, they subsequently agreed to defer payments or forbear from exercising these rights in the short term under the terms and conditions specified below in Note 22 – Subsequent Events . While none of our lenders or lessors have exercised their full rights under the credit facilities, including calling for immediate full payment, we cannot assure you that they will not exercise their rights in the future. As a result of the matters described herein, including the uncertainty regarding our ability to fully execute the Strategic Plan, our secured lenders’ abilities to demand payment and foreclose on our vessels under our debt agreements and our limited refinancing prospects, there is substantial doubt about our ability to continue as a going concern. The descriptions of our recent credit facility amendments set forth above are general summaries only and are qualified in their entirety by reference to the full text of those amendments that we have filed with the SEC. Guarantees In addition to the obligations discussed above, at December 31, 2015, we guaranteed two separate loan facilities of two separate shipping companies in which one of our wholly-owned subsidiaries had indirect ownership interests. As of December 31, 2015, these guarantee obligations were approximately $ 3.4 million and $1.0 million respectively. During the first quarter of 2016, we discharged both of these guarantees in connection with the exchange of our interests in these entities for a 2008 mini-bulk carrier.

Loss on Sale of Assets

Loss on Sale of Assets	3 Months Ended
	Mar. 31, 2016
Loss on Sale of Assets [Abstract]
Loss on Sale of Assets	NOTE 6 – LOSS ON SALE OF ASSETS During the first quarter of 2015, we sold a 36,000 dead weight ton handysize vessel and its related equipment. We received $16.4 million, net of commissions and other costs to sell, and recorded a loss on sale of asset of approximately $68,000 during the quarter. Additionally, we paid off related debt of approximately $13.5 million and recorded a loss on extinguishment of debt of approximately $95,000 . This vessel was previously reported in the Dry Bulk segment and was included in assets held for sale at December 31, 2014. 

Unconsolidated Entities

Unconsolidated Entities	3 Months Ended
	Mar. 31, 2016
Unconsolidated Entities [Abstract]
Unconsolidated Entities	NOTE 7 – UNCONSOLIDATED ENTITIES Historically, we have held various equity method investments in which we hold a 20% to 50% voting interest. We report our portion of their earnings or losses net of any applicable taxes on our Condensed Consolidated Statement of Operations under the capt ion "equity in net income of unconsolidated en tities, net .” As of March 31, 2016, we held a 49% interest in Terminales Transgolfo, S.A. de C.V. (“TTG”), which owns and operates a rail terminal in Coatzacoalcos, Mexico, and is included in our Rail Ferry segment. Our investment in TTG was $ 0.3 million and $0.2 million as of March 31, 2016 and D ecember 31, 2015, respectively. Pursuant to our execution of our Strategic Plan, during the first quarter of 2016, we sold our 30% interests in Saltholmen Shipping Ltd and Brattholmen Shipping Ltd, which were organized to purchase and operate two newbuilding chemical tankers and two asphalt tankers, for $ 5.7 million and $ 1.5 million, respectively. Additionally, we exchanged our 25% and 23.68% shareholding interests in Oslo Bulk AS and Oslo Bulk Holding Pte Ltd, respectively, which together deployed fifteen mini-bulkers in the spot market or on short- to medium-term time charters, for a 2008 mini-bulker , which we immediately sold. We included these investments in assets held for sale at December 31, 2015 and, as a result, did not report earnings from these entities during the three months ended March 31, 2016. The following table summarizes our equity in net income (loss) of unconsolidated entities for the three months ended March 31, 2016 and 2015:    (All Amounts in Thousands) Three Months Ended  March 31, 2016 March 31, 2015  Oslo Bulk, AS $ - $ 515  Oslo Bulk Holding Pte. Ltd - 120  Terminales Transgolfo, S.A. de C.V. 142 (74)  Saltholmen Shipping Ltd - 251  Brattholmen Shipping Ltd - 81  Total $ 142 $ 893 For additional information on our investments in unconsolidated entities, see Note H – Unconsolidated Entities to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015.

Investment Exchange And Vessel

Investment Exchange And Vessel Resale	3 Months Ended
	Mar. 31, 2016
Investment Exchange And Vessel Resale [Abstract]
Investment Exchange And Vessel Resale	NOTE 8 – INVESTMENT EXCHANGE AND VESSEL RESALE As discussed elsewhere herein, in February of 2016, we exchanged our 25% and 23.68% shareholding interests in Oslo Bulk AS and Oslo Bulk Holding Pte Ltd, respectively, for 100% ownership in a 2008 mini-bulk carrier. There was no cash exchanged in this transaction. In accordance with ASC 845 – Nonmonetary Transactions , since the investments were held for sale in the ordinary course of business to facilitate revenue-generating activities, we determined that the asset would be transferred at the carrying value of the combined investments, which was approximately $ 5.9 million. Accordingly, no gain or loss was recorded in connection with this exchange. Immediately following the exchange, we sold the 2008 mini-bulker to an Indonesian shipping company in exchange for a 10 -year, fully amortizing no te with an interest rate of 7.5 % and secured by a mortgage of the vessel and the earnings from the contract with an Indonesian mining company. The sales price of $14.0 million was supported by the contract between the two Indonesian companies. The gain generated from this transaction was approximately $ 8.1 million, which we deferred and will amortize using the straight-line method over the same 10-year term as the note receivable. At March 31, 2016, we had $ 1.4 million included in current notes receivable and $12.6 million included in long-term notes receivable. Additionally, we had deferred gains of approximately $ 0.8 million included in current liabilities and $7.3 million included in other long-term liabilities. As discussed further in Note 22 – Subsequent Events , we have provided technical services on behalf of the owner of the 2008 mini-bulker since April 1, 2016.

Inventory

Inventory	3 Months Ended
	Mar. 31, 2016
Inventory [Abstract]
Inventory	NOTE 9 - INVENTORY Our inventory consists of three major classes: spare parts, fuel, and warehouse inventory. Spare parts and warehouse inventories are stated at the lower of cost or market based on the first-in, first-out method of accounting. Our fuel inventory is based on the average cost method of accounting. We have broken down the inventory balances as of March 31, 2016 and December 31, 2015 by major class in the following table:    (All Amounts in Thousands)  Inventory Classes March 31, 2016 December 31, 2015  Spare Parts Inventory $ 1,874 $ 1,930  Fuel Inventory 2,714 2,854  Warehouse Inventory 2,251 2,251  Total $ 6,839 $ 7,035 

Deferred Charges

Deferred Charges	3 Months Ended
	Mar. 31, 2016
Deferred Charges [Abstract]
Deferred Charges	NOTE 10 – DEFERRED CHARGES Amortization expense for deferred charges was approximately $ 3.2 million and $ 4.8 million for the three months ended March 31, 2016 and 2015, respectively. As of March 31, 2016, gross deferred charges and accumulated amortization of deferred charges were $ 44.2 million and $ 21.2 million, respectively. As of December 31, 2015, gross deferred charges and accumulated amortization of deferred charges were $ 48.5 million and $ 25.5 million, respectively. The following table presents the rollforward of deferred charges for the three months ended March 31, 2016:     (All Amounts in Thousands) Balance at Cash Non-Cash Balance at  December 31, 2015 Additions Amortization Reclassifications March 31, 2016  Deferred Charges  Drydocking Costs $ 22,123 $ 2,942 $ (3,079) $ (80) $ 21,906  Other Deferred Charges 914 - (143) 371 1,142  Total Deferred Charges $ 23,037 $ 2,942 $ (3,222) $ 291 $ 23,048 

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Income Taxes	NOTE 11 – INCOME TAXES We recorded a tax provision of $ 26,000 on our $ 8.6 million loss before taxes and equity in net income of unconsolidated entities for the three months ended March 31, 2016. For the first three months of 2015, we recorded an income tax provision of $ 39,000 on our $ 5.4 million loss before equity in net income of unconsolidated entities. These provision amounts represent our qualifying U.S. flag operations, which continue to be taxed under the “tonnage tax” provisions rather than the normal U.S. corporate income tax provisions, state income taxes paid, and foreign income tax withholdings or refunds. In accordance with Internal Revenue Code (IRC) Section 1359 disposition of qualifying vessels, we have elected to defer taxable gains on the sale of qualifying tonnage tax vessels operating under the tonnage tax regime. IRC Section 1359(b) defers the recognition of taxable gains for three years after the close of the first taxable year in which the gain is realized or subject to such terms and conditions as may be specified by the Secretary of the Internal Revenue Service, on such later date as the Secretary may designate upon application by the taxpayer. Deferred gains on the sale of qualifying vessels must be recognized if the amount realized upon such sale or disposition exceeds the cost of the replacement qualifying vessel, limited to the gain recognized on the transaction. We have elected to defer gains of approximately $ 77.5 million from the dispositions of qualifying vessels in prior years. In order to meet the non-recognition requirements for the remaining $ 31.9 million of deferred gains, we would need to acquire qualifying replacement property totaling $ 52.2 million for periods ending December 31, 2016 through December 31, 2018. To the extent any gain is recognized, we expect to utilize existing tax attributes to fully offset such gain. During the quarter ended March 31, 2016, we recorded a deferred tax liability of $ 217,000 on earnings of our controlled foreign corporations. We recorded a decrease in our valuation allowance as discussed below. We established a valuation allowance against deferred income tax assets in 2014 because, based on available information, we could not conclude that it was more likely than not that the full amount of deferred income tax assets generated primarily by net operating loss carryforwards and alternative minimum tax credits would be realized through the generation of taxable income in the near future. We have and will continue to evaluate the need for a valuation allowance on a quarterly basis. We recorded an increase in our valuation allowance of $ 1.8 million for the three months ended March 31, 2016, which reflects the increase in net operating loss attributes for the period. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes,” to simplify the presentation of deferred taxes in the balance sheet. Under this amendment, entities will no longer be required to separate deferred income tax liabilities and assets into current and noncurrent amounts. Rather, the amendment requires deferred tax liabilities and assets be classified as noncurrent in a balance sheet. For public companies, the revised standard is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted with retrospective application optional. We elected to early adopt this new standard effective January 1, 2016. Prior periods were not retrospectively adjusted for this change. The adoption of this standard did not have a material effect on our financial position, results of operations, or cash flows. For further information on certain tax laws and elections, see our Annual Report on Form 10-K for the year ended December 31, 2015, including Note L - Income Taxes to the consolidated financial statements included therein.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies [Abstract]
Commitments And Contingencies	NOTE 12 – COMMITMENTS AND CONTINGENCIES Commitments As of March 31, 2016, twenty-one vessels that we own or operate were committed under various contracts extending beyond 2016 and expiring at various dates through 2020. Certain of these agreements also contain options to extend the contracts beyond their minimum terms. The State of Louisiana has agreed to pay us $ 10.3 million in connection with relocating our corporate headquarters to New Orleans. Of this amount, as of March 31, 2016, we had received $ 6.5 million, which has offset costs related to construction of our office building as well as other relocation expenses. In accordance with the terms of the incentive agreement, we must employ Louisiana-based personnel meeting certain salary requirements from 2016 through 2030. In the event that we default, we could be required to re-pay up to the total of any cash we received from this incentive. As of March 31, 2016, we expect that we will meet these requirements for the year ended December 31, 2016 and thereafter. During the third quarter of 2014, we were notified of the bankruptcy of a ship builder that had agreed to build a new handysize dry bulk carrier. Upon notification of the bankruptcy, we reclassified our deposit of $ 3.9 million from construction in progress to accounts receivable, and we recorded an additional $ 0.3 million of interest income. During the first quarter of 2015, we collected $ 4.2 million, which represented the return of our deposit and related interest. Contingencies On and after June 26, 2014, U.S. Customs and Border Protection (CBP) issued pre-penalty notifications to us and two of our affiliates alleging failure to properly report the importation of spare parts incorporated into our vessels covering the period April 2008 through September 2012. Under these notifications, CBP’s proposed duty is currently approximately $1.4 million along with a proposed penalty on the assessment of approximately $ 5.7 million. The basis of CBP’s assessment is that the U. S. Government experienced a loss of revenue consisting of the difference between the government’s ad valorem duty and the consumption entry duty actually paid by us. On September 24, 2014, we submitted our formal response to CBP’s claim and denied violating the applicable U.S. statute or regulations. We have not accrued a liability for this matter because we believe it is premature (i) to determine whether an accrual is warranted and (ii) if so, to determine a reasonable estimate of probable liability. For discussion on contingencies related to operating leases, refer to Note 5 – Debt and Lease Obligations . For further information on our commitments and contingencies, see Note M – Commitments and Contingencies to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2016
Employee Benefit Plans [Abstract]
Employee Benefit Plans	NOTE 13 – EMPLOYEE BENEFIT PLANS The following table provides the components of net periodic benefit cost for our pension plan and postretirement benefits plan for the three months ended March 31, 2016 and 2015:     (All Amounts in Thousands) Pension Plan Postretirement Benefits  Three Months Ended Three Months Ended  Components of net periodic benefit cost: March 31, 2016 March 31, 2015 March 31, 2016 March 31, 2015  Service cost $ 178 $ 171 $ (13) $ 8  Interest cost 395 359 109 118  Expected return on plan assets (583) (638) - -  Amortization of prior service cost (1) (1) 28 26  Amortization of net loss 141 111 - 37  Net periodic benefit cost $ 130 $ 2 $ 124 $ 189 We contributed $165,000 to our pension plan for the three months ended March 31, 2016. We expect to contribute an additional $495,000 before December 31, 2016.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments [Abstract]
Derivative Instruments	NOTE 14 – DERIVATIVE INSTRUMENTS We use derivative instruments to manage certain foreign currency exposures and interest rate exposures. The Company does not use derivative instruments for speculative trading purposes. All derivative instruments are recorded on the Consolidated Balance Sheet at fair value. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is recorded to other comprehensive loss, and is reclassified to earnings when the derivative instrument is settled. Any ineffective portion of changes in the fair value of the derivative is reported in earnings. As of March 31, 2016 and December 31, 2015, we did not have any outstanding derivative instruments in accumulated other comprehensive loss. Embedded Derivative We routinely evaluate our preferred equity instruments to determine whether the penalty interest component embedded therein should be bifurcated and accounted for separately. Based on the fact that we have not paid our cumulative preferred dividend payments each quarter since October 2015 and have incurred penalties in the form of higher dividend accruals as a result of missing more than one payment, we determined that (i) the penalty structure embedded within our preferred equity instruments was required to be bifurcated and (ii) a liability existed at March 31, 2016. In determining the appropriate fair value of this liability, we calculated the present value of potential future penalties and estimated the probability of the occurrence. The range of probable outcomes was $ 1.8 million to $4.9 million . At March 31, 2016, we determined that the fair value of the liability of this embedded derivative was $ 2.6 million, which we recorded in both current and long term liabilities on the Condensed Consolidated Balance Sheet at March 31, 2016. We reflected the increase in the fair value of this liability since December 31, 2015 as a derivative loss for the quarter ended March 31, 2016. We intend to continue to adjust this liability to reflect fair value at the end of each subsequent reporting period. Any increase or decrease in the fair value from inception will be made quarterly and will be recorded as a derivative (gain) loss in our Condensed Consolidated Statement s of Operations. See Note 17- Stockholders’ Equity for additional information on our preferred stock dividends. The notional and fair value amounts of our derivative instruments as of March 31, 2016 were as follows:    (All Amounts in Thousands) Liability Derivatives  Current Notional Balance Sheet Fair  Amount Location Value  Embedded Derivative $ - Current Liabilities $ (2,417)  Embedded Derivative $ - Other Long Term Liabilities $ (183)  The notional and fair value amounts of our derivative instruments as of December 31, 2015 were as follows:     (All Amounts in Thousands) Liability Derivatives  Current Notional Balance Sheet Fair  Amount Location Value  Embedded Derivative $ - Current Liabilities $ (1,040)  Embedded Derivative $ - Other Long Term Liabilities $ (121)  Interest Rate Swap Agreements and Foreign Currency Contracts We enter into interest rate swap agreements to manage well-defined interest rate risks. We record the fair value of the interest rate swaps as an asset or liability on our Condensed Consolidated Balance Sheet. We account for our interest rate swaps as effective cash flow hedges. Accordingly, the effective portion of the change in fair value of the swap is recorded in other comprehensive loss on the Condensed Consolidated Balance Sheet while the ineffective portion is recorded to derivative gain or loss on the Condensed Consolidated Statement of Operations in the period of change in fair value. Additionally, from time to time, we enter into foreign exchange contracts to hedge certain firm foreign currency purchase commitments. During 2015, we were party to three forward purchase contracts for Mexican Pesos, which expired in December 2015, two for $ 900,000 U.S. Dollar equivalents at an average exchange rate of 13.6007 and 13.7503 , respectively, and another for $ 600,000 U.S. Dollar equivalents at an exchange rate of 14.1934 . As of March 31, 2015, we expected to refinance our Yen-based credit facility with a U.S. dollar facility. Interest payable under the Yen-based loan was fixed after we entered into a variable-to-fixed interest rate swap in 2009. Due to our determination at March 31, 2015 that it was more likely than not that the Yen-based loan would be refinanced, we classified the interest rate swap as completely ineffective at March 31, 2015. As a result, we recorded at such time a $ 2.8 million charge to derivative loss on our Condensed Consolidated Statement of Operations with the offs et to other comprehensive loss. In April 2015, we entered into a new loan agreement with DVB Bank SE in the amount of $ 32.0 million by refinancing our 2010 built PCTC. We received the loan proceeds on April 24, 2015 and applied them as follows: (i) $ 24.0 million to pay off the outstanding Yen -based facility in the amount of 2.9 billion Yen, (ii) $ 4.0 million to settle the related Yen forward contract, and (iii) $ 2.9 million to settle a Yen- d enominated interest rate swap. As a result of the early debt payoff, we recorded a loss on extinguishment of debt of approximately $ 0.3 million during the second quarter of 2015 . Under the new DVB loan agreement, interest was, prior to a recent loan amendment, payable at a fixed rate of 4.16% with the principal being paid quarterly over a five -year term based on a ten -year amortization schedule with a final quarterly balloon payment of $ 16.8 million due on April 22, 2020. Our 2010-built foreign flag PCTC along with customary assignment of earnings and insurances were pledged as security for the facility. Additionally, we capitalized approximately $ 0.6 million in loan costs associated with the DVB Bank loan, which we amortized over the remaining life of the loan. On November 4, 2015, this loan agreement was materially amended. Prior to December 31, 2015, we finalized the sale of the underlying 2010 built PCTC and extinguished the related debt. Refer to Note F – Debt Obligations and Note O – Derivative Instruments of our Annual Report on Form 10-K for the year ended December 31, 2015 for additional information. The effect of derivative instruments designated as cash flow hedges on our Condensed Consolidated Statement of Operations for the three months ended March 31, 2015 were as follows:     (All Amounts in Thousands) Location of Amount of Gain (Loss)  Gain (Loss) Gain (Loss) Gain (Loss) Recognized in  Recognized Reclassified from Reclassified from Income from  in OCI* AOCI** to Income AOCI to Income Ineffective Portion  Interest Rate Swaps $ 243 Interest Expense $ 484 $ 49  De-Designation of Interest Rate Swaps 2,859 - (2,859)  Foreign Exchange Contracts (3) Other Revenues 99 -  Total $ 3,099 $ 583 $ (2,810) * Other Comprehensive (Loss) Income ** Accumulated Other Comprehensive Income

Other Long-Term Liabilities

Other Long-Term Liabilities	3 Months Ended
	Mar. 31, 2016
Other Long Term-Liabilities [Abstract]
Other Long-Term Liabilities	NOTE 15 – OTHER LONG-TERM LIABILITIES Other long-term liabilities were $ 24.3 million and $ 25.3 million as of March 31, 2016 and December 31, 2015, respectively.      (All Amounts in Thousands)  March 31, 2016 December 31, 2015  Billings in Excess of Cost $ 3,394 $ 3,654  Pension and Post Retirement 10,577 10,778  Alabama Lease Incentive 4,304 4,591  Insurance Reserves 4,800 4,674  Derivatives 183 121  Deferred Tax Liability - 309  Other 1,081 1,141  $ 24,339 $ 25,268  

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2016
Stock Based Compensation [Abstract]
Stock Based Compensation	NOTE 16 – STOCK- BASED COMPENSATION We grant stock- based compensation in the form of (1) unrestricted stock awards to our outside directors and (2) restricted stock units (“RSUs”) to key executive personnel. These awards are granted under the International Shipholding Corporation 2015 Stock Incentive Plan and are payable in shares of the Company’s common stock, $ 1.00 par value per share, up to a maximum of 400,000 shares authorized for issuance . In the first quarter of 2016, we granted 60,000 unrestricted shares to our outside directors. Our total expense related to stock based compensation was approximately $0. 2 million and $ 2,000 for the three months ended March 31, 2016 and 2015, respectively, which is reflected in administrative and general expenses.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity [Abstract]
Stockholders' Equity	NOTE 17 – STOCKHOLDERS’ EQUITY A summary of the changes in stockholders’ equity for the three months ended March 31, 2016 is as follows:      (All Amounts in Thousands) Stockholders'  Equity  Balance at December 31, 2015 $ 86,332  Net Loss (8,454)  Unrealized Foreign Currency Translation Loss (14)  Net Gain in Funding Status of Defined Benefit Plan 168  Issuance of Stock Based Compensation, net* 222  Balance at March 31, 2016 $ 78,254 * Net of approximately $ 11,000 included in accounts payable and other accrued expenses at March 31, 2016. Stock Repurchase Program On January 25, 2008, our Board of Directors approved a share repurchase program for up to a total of 1,000,000 shares of our common stock. We expect that any share repurchases under this program will be made from time to time for cash in open market transactions at prevailing market prices. The timing and amount of any purchases under the program will be determined by management based upon market conditions and other factors. In 2008, we repurchased 491,572 shares of our common stock for $11.5 million. Thereafter, we suspended repurchases until the second quarter of 2010, when we repurchased 223,051 shares of our common stock for $5.2 million. Unless and until our Board of Directors otherwise provides, this authorization will remain open indefinitely, or until we reach the approved 1,000,000 share limit. As of March 31, 2016, the maximum number of shares that may yet be purchased under the Plan was 285,377 shares. Based on our current liquidity position and debt covenants, we have no plans to repurchase any of our shares under this program in the near future. Dividend Payments The payment of dividends to common stockholders and preferred stockholders is at the discretion and subject to the approval of our Board of Directors. The Board of Directors declared a cash common stock dividend each quarter between the fourth quarter of 2008 and the middle of 2015. Since late 2015, our principal loan agreements have expressly prohibited us from paying dividends unless and until our financial position substantially improves. On October 19, 2015 and January 19, 2016, we announced that our Board of Directors declared that we would not be paying the cumulative dividend payments scheduled for October 30, 2015 and January 30, 2016 related to our Series A and Series B Preferred Stock. Because we did not pay our preferred stock dividends for two periods, the per annum rate increased on January 31, 2016 by 2.00% per $ 100.00 stated liquidation preference, or $ 2.00 per annum . See Note 22 – Subsequent Events for information on the impact of our election to forego making the April 2016 dividend payment. If we fail to make additional future scheduled payments, this per annum rate will continue to increase up to a maximum annual dividend rate of twice the original interest rate. At March 31, 2016, we recorded a $2.6 million embedded derivative liability related to the penalties on our preferred stock dividends. See Note 14 – Derivative Instruments for additional information. Additionally, since our preferred shares rank senior to our common shares, and carry cumulative dividends, we are currently precluded from paying cas h dividends on our common stock .

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2016
Loss Per Share [Abstract]
Loss Per Share	NOTE 18 – LOSS PER SHARE Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding assuming the exercise of the conversion of restricted stock units. We had net losses attributable to common stockholders for the three months ending March 31, 2016 and 2015; therefore, we disregarded the impact of any incremental shares issuable under our outstanding restricted stock units because the net loss with respect to such shares would have been anti-dilutive. For the three months ended March 31, 2016 and 2015, the incremental number of disregarded fully diluted shares was 300 and 70,300 , respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	NOTE 19 – FAIR VALUE MEASUREMENTS ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability is not adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, and (iii) able and willing to complete a transaction. ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present value on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (including interest rates, volatilities, prepayment speeds, credit risks) or inputs that are derived principally from or corroborated by market data by correlation or other means. Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity's own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. The following table summarizes our financial assets and financial liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, segregated by the above-described levels of valuation inputs:       (All Amounts in Thousands) March 31, 2016  Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value  Embedded Derivative $ - $ - $ (2,600) $ (2,600)   (All Amounts in Thousands) December 31, 2015  Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value  Embedded Derivative $ - $ - $ (1,161) $ (1,161) See Note 14 – Derivative Instruments for additional information on level three inputs used in the fair value determination. The carrying amounts of our accounts receivable, accounts payable and accrued liabilities approximated their fair value at March 31, 2016 and December 31, 2015. Our notes receivables were $ 40.8 million, the majority of which relates to two loans to an Indonesian shipping company from the sale of three vessels, which had a total remaining balance of $ 39.3 million at annual interest rates of 7% and 7.5% at March 31, 2016. Fair market value takes into consideration the current rates at which similar notes would be made. The carrying amount of these notes approximated fair market value at March 31, 2016. The estimated fair value of our debt obligations at March 31, 2016 was approximately $ 109.6 million based on the term nature, mix of fixed and variable rates of certain debt instruments. Based on the underlying value of collateral, we have determined that credit risk is not a material factor . We calculated the fair value of our debt obligations using Level 3 inputs. The following table reflects the fair value measurements used in testing the impairment of long-lived assets during the three months ended March 31, 2016:     (All Amounts in Thousands) March 31, Level 1 Level 2 Level 3 Total  2016 Inputs Inputs Inputs Losses  Vessels, Property, and Other Equipment, net (1) $ 375 $ - $ - $ 375 $ (1,370)  Assets Held for Sale (2) 6,133 - - 6,133 (564) (1) Refers to our Jones Act inactive barge, inactive harbor tug, and belt self-unloading bulk carrier. (2) Refers to our Jones Act inactive tug and our New Orleans office building included in current assets held for sale at March 31, 2016. See Note 3 – Impairment Loss for additional information on the level three inputs used in the fair value determination.

Change In Accounting Estimate

Change In Accounting Estimate	3 Months Ended
	Mar. 31, 2016
Change In Accounting Estimate [Abstract]
Change In Accounting Estimate	NOTE 20 – CHANGE IN ACCOUNTING ESTIMATE Based on company policy, we review the reasonableness of our salvage values every three years or when specific events or changes occur. In the first quarter of 2015, we conducted our review and adjusted salvage values due to changes in the market value of scrap steel, which is based on the most recent three -year average price of scrap steel per metric ton. This adjustment resulted in a decrease in salvage values of approximately $0.6 million. The impact of this adjustment on depreciation expense for the three months ended March 31, 2015 was immaterial. The impact of this adjustment for future periods is also expected to be immaterial. During the first quarter of 2016, declines in the market value of scrap steel warranted additional review of our salvage values, which resulted in a reduction of approximately $ 6.9 million. This adjustment increased depreciation expense for the three months ended March 31, 2016 by approximately $ 0.1 million. We expect a similar impact from this adjustment on depreciation expense in future periods.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	NOTE 21 – NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which will replace most existing revenue recognition guidance in GAAP. The guidance in this update requires an entity to recognize the amount of revenue that it expects to be entitled for the transfer of promised goods or services to customers. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of this standard. The new standard will apply to us on January 1, 2018, with earlier adoption permitted only as of January 1, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. In March 2016, the FASB issued ASU 2016-08, which clarified the implementation guidance on principal versus agent considerations. Management is currently evaluating the effect that ASU 2014-09 will have on our condensed consolidated financial statements and related disclosures and, therefore, has not determined the effect of the accounting guidance on our ongoing financial reporting. In August 2014, the FASB issued ASU 2014 – 15, “ Presentation of Financial Statements – Going Concern ”, to give explicit guidance on management’s requirement to analyze whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued, when applicable). ASU 2014 – 15 is effective for the annual period ending after December 15, 2016, and for the annual periods and interim periods thereafter. Early adoption is permitted. The Company elected to early adopt ASU 2015 – 15 in 2015. In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-02, Amendments to the Consolidation Analysis . The amendments in ASU 2015-02 affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. ASU 2015-02 will be effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. This adoption did not have a material impact on our condensed consolidated financial statements. In April 2015, the FASB issued ASU 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for a cloud computing arrangement as a service contract. The amendment is effective for annual periods beginning after December 15, 2015. Early adoption is permitted. The amendment may be adopted either prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. This adoption did not have a material impact on our condensed consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory – Simplifying the Measurement of Inventory , which applies to inventory measured using first-in, first-out or average cost. The guidance in this update states that inventory within scope shall be measured at the lower of cost or net realizable value, and when the net realizable value of inventory is lower than its cost, the difference shall be recognized as a loss in earnings. The new standard is effective for the Company beginning on January 1, 2017 and should be applied on a prospective basis. The Company is evaluating the effect that ASU 2015-11 will have on its condensed consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU 2015-17, Income Taxes – Balance Sheet Classification of Deferred Taxes , which requires that deferred tax liabilities and assets be classified as noncurrent on an entity’s statement of financial position. This standard is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted, and the amendments in this update may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. We early adopted this guidance in the first quarter of 2016, and it did not have a material impact on our condensed consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , which requires organizations to recognize lease assets and liabilities on the balance sheet and to disclose key information about leasing arrangements. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for public entities. Early application is permitted. The Company is evaluating the effect this Update will have on its condensed consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718) , as part of its simplification initiative. The areas for simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company is evaluating the effect this Update will have on its condensed consolidated financial statements and related disclosures. Management reviewed all other significant newly issued accounting pronouncements and concluded that they are either not applicable to our business or that we do not expect their future adoption to have a material effect on our condensed consolidated financial statements.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	NOTE 22 - SUBSEQUENT EVENTS On April 1, 2016, we commenced providing technical services for the 2008 mini-bulker that we acquired and sold in connection with the first quarter 2016 transactions described in Note 8 – Investment Exchange and Vessel Resale . On such date, we began amortizing the note receivable that we received in connection with selling the vessel. We intend to report all revenues from the services we provide on this vessel within our Specialty Contracts segment. On April 6, 2016, the lenders under our Credit Facility agreed to forbear from exercising any rights or remedies before July 1, 2016 with respect to various specified defaults. This forbearance will automatically terminate before July 1, 2016 if various events occur, including, among several others, (i) the initiation of any steps by other persons to enforce their rights or accelerate any indebtedness under other debt instruments and (ii) our failure to consummate by May 15, 2016 a significant sale of assets currently being negotiated. Under this April 6, 2016 agreement, we also received from the lenders consent to sell certain Jones Act segment vessels, the proceeds of which we agreed to apply towards a $ 0.7 million payment to the lenders, and an extension of the deadline to sell our New Orleans office building. Be tween April 15, 2016 and April 27, 2016, (i) two of our other lenders executed similar contingent agreements to forbear from exercising their rights or remedies before May 15, 2016 with respect to various specified defaults, (ii) two of our other lenders and one of our lessors executed contingent agreements to defer through May 15, 2016 receipt of certain specified payments and (iii) one of our other lenders executed a similar contingent agreement under which it conditionally agreed to defer certain payments through May 15, 2016 and we agreed to increase the interest rate by 50 basis points and to fully discharge all of our obligations to the lender by October 31, 2016. Our other two lessors have declined to execute similar forbearance or deferral agreements, and thereby have retained all of their rights to declare us in default and accelerate our obligations to them under our operating leases with them. If either such lessor exercises these rights, the above-cited deferral and forbearance agreements will automatically terminate. On April 7, 2016, we finalized the sale of our New Orleans office building in exchange for relief from amounts owed to the construction company of approximately $ 6.2 million. On April 13, 2016, , we finalized the sale of our Jones Act inactive barge and used the net sales proceeds of approximately $ 0.4 million, together with other available funds, to pay the $ 0.7 million required debt payment discussed above. On April 19, 2016, we announced that our Board of Directors declared that we would not pay the cumulative preferred stock dividend scheduled for April 30, 2016. Because we did not pay our preferred stock dividend for a third period, the per annum dividend rate with respect to the Series A and Series B Preferred Stock increased from 11.5% to 13.5% and from 11.0% to 13.0% , respectively, commencing May 1, 2016. The descriptions of our recent agreements set forth above are general summaries only and are qualified in their entirety by reference to the full text of those agreements that we have filed, or will file, with the SEC.

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Operating Segments [Abstract]
Information About Segment Profit and Loss and Segment Assets	   (All Amounts in Thousands) Pure Car  Jones Truck Dry Bulk Rail Specialty  Act Carriers Carriers Ferry Contracts Other Total  2016  Fixed Revenue $ 22,746 $ 11,577 $ - $ - $ 7,169 $ - $ 41,492  Variable Revenue - 4,981 - 6,775 439 114 12,309  Total Revenue 22,746 16,558 - 6,775 7,608 114 53,801  Voyage Expenses 17,019 14,131 - 5,428 6,423 76 43,077  Amortization Expense 2,216 556 - 254 53 - 3,079  (Income) of Unconsolidated Entity - - - (142) - - (142)  Gross Voyage Profit* $ 3,511 $ 1,871 $ - $ 1,235 $ 1,132 $ 38 $ 7,787   Gross Voyage Profit Margin 15% 11% - 18% 15% - 14%   2015  Fixed Revenue $ 24,595 $ 14,247 $ 1,868 $ - $ 10,571 $ - $ 51,281  Variable Revenue - 7,533 1,255 7,534 185 238 16,745  Total Revenue 24,595 21,780 3,123 7,534 10,756 238 68,026  Voyage Expenses 18,590 17,020 2,580 6,635 7,557 (171) 52,211  Amortization Expense 3,828 715 61 285 298 - 5,187  (Income) Loss of Unconsolidated Entities - - (635) 74 (332) - (893)  Gross Voyage Profit* $ 2,177 $ 4,045 $ 1,117 $ 540 $ 3,233 $ 409 $ 11,521   Gross Voyage Profit Margin 9% 19% 36% 7% 30% - 17%   * Excludes Depreciation Expense   
Reconciliation Of Totals Reported For Operating Segments	   (All Amounts in Thousands) Three Months Ended  March 31, 2016 March 31, 2015  Revenues $ 53,801 $ 68,026   Voyage Expenses 43,077 52,211  Amortization Expense 3,079 5,187  Net Income of Unconsolidated Entities (142) (893)   Gross Voyage Profit 7,787 11,521   Vessel Depreciation 5,436 5,543  Other Depreciation 225 184   Gross Profit 2,126 5,794   Other Operating Expenses:  Administrative and General Expenses 4,513 5,022  Impairment Loss 1,934 -  Loss on Sale of Other Assets - 68  Less: Net Income of Unconsolidated Entities 142 893  Total Other Operating Expenses 6,589 5,983   Operating Loss $ (4,463) $ (189) 

Debt And Lease Obligations (Tab

Debt And Lease Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
Debt And Lease Obligations [Abstract]
Schedule of Debt Obligations	   (All Amount in Thousands) Interest Rate Maturity Total Principal Due  Description of Secured Debt March 31, 2016 December 31, 2015 Date March 31, 2016 December 31, 2015  ING – Variable Rate 1 - % 4.6930 % 2018 $ - $ 8,589  ING – Variable Rate 1 4.9106 4.6947 -4.7336 2018 1,851 25,146  ING – Variable Rate 1 - 4.8199 2018 - 2,800  Capital One N.A. – Variable Rate 2 2.7885 2.5938 2017 6,274 6,904  Regions – Variable Rate 3 9.6900 9.4400 2017 27,965 33,090  Regions Line of Credit 3 9.6900 9.4400 2017 31,000 31,000  DVB Bank SE – Fixed Rate 4 6.3500 6.3500 2020 32,348 33,664  RBS – Variable Rate 5 4.1874 3.9900 2021 17,632 18,651  117,070 159,844  Less: Current Maturities (113,721) (156,807)  Less: Debt Issuance Costs (3,349) (3,037)  Long-Term Debt $ - $ -  1. We entered into a variable rate financing agreement with ING Bank N.V, London branch in August 2010 for a seven year facility to finance the construction and acquisition of three handysize vessels. Pursuant to the terms of the facility, the lender agreed to provide a secured term loan facility divided into two tranches which corresponded to the vessel delivery schedule. Tranche I covered the first two vessels delivered with Tranche II covering the last vessel. Tranche I was fully drawn in the amount of $36.8 million, and Tranche II fully drawn at $18.4 million We entered into a variable rate financing agreement with ING Bank N.V., London branch in June 2011 for a seven year facility to finance the acquisition of a capesize vessel and a supramax bulk carrier newbuilding, both of which we acquired a 100% interest in as a result of our acquisition of Dry Bulk. Pursuant to the terms of the facility, the lender agreed to provide a secured term loan facility divided into two tranches: Tranche A, fully drawn in June 2011 in the amount of $24.1 million, and Tranche B, providing up to $23.3 million of additional credit. Under Tranche B, we drew $6.1 million in November 2011 and $12.7 million in January 2012. In order to aid in the collateral value coverage covenant, both of the above facilities were merged into one facility without altering the debt maturities or terms of our indebtedness. Effective November 4, 2015, the interest rate was increased from LIBOR plus 2.5% to LIBOR plus 4.5% . For other changes to the credit facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015. 2. In December 2011, we entered into a variable rate financing agreement with Capital One N.A. for a five year facility totaling $ 15.7 million to finance a portion of the acquisition price of a multi-purpose ice strengthened vessel. This loan requires us to make 59 monthly payments with a final balloon payment of $ 4.7 million in January 2017. 3. Our original senior secured Credit Facility was scheduled to mature on September 24, 2018 and included a term loan facility in the principal amount of $45.0 million and a LOC in the principal amount of up to $40 .0 million. The LOC facility originally included a $20.0 million sublimit for the issuance of standby letters of credit and a $5.0 million sublimit for swingline loans. As discussed above, o n November 13, 2015, the Credit Facility was amended. The maturity date was accelerated to July 20, 2017. Additionally, the interest rate increased from LIBOR plus 3.5% to LIBOR plus 9.25% which is effective from November 13, 2015 through June 30, 2016 and LIBOR plus 10.0% from July 1, 2016 through July 20, 2017. For other changes to the credit facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015. 4. We entered into a fixed rate financing agreement with DVB Bank SE, on August 26, 2014 in the amount of $38.5 million, collateralized by our 2007 PCTC at a rate of 4.35% with 24 quarterly payments and a final balloon payment of $20.7 million in August 2020. This loan requires us to pre-fund a one-third portion of the upcoming quarterly scheduled debt payment, which, at March 31, 2016, constituted $0.5 million and is included as restricted cash on our Condensed Consolidated Balance Sheet. Effective November 4, 2015, the interest rate increased from 4.35% to 6.35% . For other changes to the credit facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015 . 5. We have a $23.0 million loan with Citizens Asset Finance (formerly RBS Asset Finance) that is collateralized by one of our 1999 PCTCs at a variable rate equal to the 30-day Libor rate plus 2.75% payable in 84 monthly installments with the final payment due August 2021. Late in 2015, this loan agreement was amended to include an increase to the annual interest rate of 1.0 % and in April 2016 this loan agreement was further amended to include an additional increase to the annual interest rate of 0.5% . For additional changes to this facility, refer to “ Recent Financing Agreement Waivers and Amendments ” within Note F – Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015 .

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	3 Months Ended
	Mar. 31, 2016
Unconsolidated Entities [Abstract]
Summarized Equity In Net Income (Loss) Of Unconsolidated Entities	   (All Amounts in Thousands) Three Months Ended  March 31, 2016 March 31, 2015  Oslo Bulk, AS $ - $ 515  Oslo Bulk Holding Pte. Ltd - 120  Terminales Transgolfo, S.A. de C.V. 142 (74)  Saltholmen Shipping Ltd - 251  Brattholmen Shipping Ltd - 81  Total $ 142 $ 893 

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory [Abstract]
Inventory by Major Classes	   (All Amounts in Thousands)  Inventory Classes March 31, 2016 December 31, 2015  Spare Parts Inventory $ 1,874 $ 1,930  Fuel Inventory 2,714 2,854  Warehouse Inventory 2,251 2,251  Total $ 6,839 $ 7,035 

Deferred Charges (Tables)

Deferred Charges (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Charges [Abstract]
Rollforward of Deferred Charges	   (All Amounts in Thousands) Balance at Cash Non-Cash Balance at  December 31, 2015 Additions Amortization Reclassifications March 31, 2016  Deferred Charges  Drydocking Costs $ 22,123 $ 2,942 $ (3,079) $ (80) $ 21,906  Other Deferred Charges 914 - (143) 371 1,142  Total Deferred Charges $ 23,037 $ 2,942 $ (3,222) $ 291 $ 23,048 

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Employee Benefit Plans [Abstract]
Components Of Net Periodic Benefit Cost	   (All Amounts in Thousands) Pension Plan Postretirement Benefits  Three Months Ended Three Months Ended  Components of net periodic benefit cost: March 31, 2016 March 31, 2015 March 31, 2016 March 31, 2015  Service cost $ 178 $ 171 $ (13) $ 8  Interest cost 395 359 109 118  Expected return on plan assets (583) (638) - -  Amortization of prior service cost (1) (1) 28 26  Amortization of net loss 141 111 - 37  Net periodic benefit cost $ 130 $ 2 $ 124 $ 189 

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments [Abstract]
Notional and Fair Value of Derivative Instruments	The notional and fair value amounts of our derivative instruments as of March 31, 2016 were as follows:    (All Amounts in Thousands) Liability Derivatives  Current Notional Balance Sheet Fair  Amount Location Value  Embedded Derivative $ - Current Liabilities $ (2,417)  Embedded Derivative $ - Other Long Term Liabilities $ (183)  The notional and fair value amounts of our derivative instruments as of December 31, 2015 were as follows:     (All Amounts in Thousands) Liability Derivatives  Current Notional Balance Sheet Fair  Amount Location Value  Embedded Derivative $ - Current Liabilities $ (1,040)  Embedded Derivative $ - Other Long Term Liabilities $ (121) 
Effect of Derivative Instruments Designated as Cash Flow Hedges	   (All Amounts in Thousands) Location of Amount of Gain (Loss)  Gain (Loss) Gain (Loss) Gain (Loss) Recognized in  Recognized Reclassified from Reclassified from Income from  in OCI* AOCI** to Income AOCI to Income Ineffective Portion  Interest Rate Swaps $ 243 Interest Expense $ 484 $ 49  De-Designation of Interest Rate Swaps 2,859 - (2,859)  Foreign Exchange Contracts (3) Other Revenues 99 -  Total $ 3,099 $ 583 $ (2,810) * Other Comprehensive (Loss) Income ** Accumulated Other Comprehensive Income

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Other Long Term-Liabilities [Abstract]
Other Long-Term Liabilities	   (All Amounts in Thousands)  March 31, 2016 December 31, 2015  Billings in Excess of Cost $ 3,394 $ 3,654  Pension and Post Retirement 10,577 10,778  Alabama Lease Incentive 4,304 4,591  Insurance Reserves 4,800 4,674  Derivatives 183 121  Deferred Tax Liability - 309  Other 1,081 1,141  $ 24,339 $ 25,268 

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity [Abstract]
Summary Of Changes In Stockholders' Equity	   (All Amounts in Thousands) Stockholders'  Equity  Balance at December 31, 2015 $ 86,332  Net Loss (8,454)  Unrealized Foreign Currency Translation Loss (14)  Net Gain in Funding Status of Defined Benefit Plan 168  Issuance of Stock Based Compensation, net* 222  Balance at March 31, 2016 $ 78,254 

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	   (All Amounts in Thousands) March 31, 2016  Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value  Embedded Derivative $ - $ - $ (2,600) $ (2,600)   (All Amounts in Thousands) December 31, 2015  Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value  Embedded Derivative $ - $ - $ (1,161) $ (1,161) 
Fair Value Measurements Used in Testing Impairment of Long-lived Assets and Goodwill	   (All Amounts in Thousands) March 31, Level 1 Level 2 Level 3 Total  2016 Inputs Inputs Inputs Losses  Vessels, Property, and Other Equipment, net (1) $ 375 $ - $ - $ 375 $ (1,370)  Assets Held for Sale (2) 6,133 - - 6,133 (564) (1) Refers to our Jones Act inactive barge, inactive harbor tug, and belt self-unloading bulk carrier. (2) Refers to our Jones Act inactive tug and our New Orleans office building included in current assets held for sale at March 31, 2016.

Business and Basis of Present39

Business and Basis of Presentation (Narrative) (Details) $ in Thousands	Oct. 21, 2015segmentitem	Oct. 20, 2015item	Mar. 31, 2016USD ($)item	Mar. 31, 2015item	Dec. 31, 2015USD ($)
Number of operating segments	3	6
Current maturities of long-term debt, net | $			$ 113,721		$ 156,807
Impairment charge | $			$ 1,934
Minimum percentage of ownership considered for consolidation (in hundredths)			50.00%
Minimum percentage of ownership considered for equity method of accounting for investments			20.00%
Maximum percentage of ownership considered for equity method of accounting for investments			50.00%
Deferred Gains, Net Of Accumulated Amortization [Member]
Amount of reclassification adjustments | $					14,900
Non-Cash Transactions [Member]
Amount of reclassification adjustments | $					$ 13,500
Divestitures Under Strategic Plan And One Jones Act Inactive Barge [Member]
Decrease in debt outstanding | $			$ 82,300
PCTC Vessels [Member]
Number of vessels and units subject to divestitures	1
Tug-Barge Unit [Member]
Number of vessels and units subject to divestitures	1
Handysize Vessel [Member]
Number of vessels sold			2	1
Cape Size Vessel [Member]
Number of vessels sold			1
Chemical Tankers [Member]
Percentage ownership investment sold			30.00%
Number of properties with thirty percent investment sold			2
Asphalt Tankers [Member]
Percentage ownership investment sold			30.00%
Number of properties with thirty percent investment sold			2

Operating Segments (Narrative)

Operating Segments (Narrative) (Details)	Oct. 21, 2015segment	Oct. 20, 2015item	Mar. 31, 2016item
Operating Segments [Abstract]
Number of operating segments	3	6
Number of unconsolidated entities			2

Operating Segments (Information

Operating Segments (Information About Segment Profit and Loss and Segment Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Fixed Revenue	$ 41,492	$ 51,281
Variable Revenue	12,309	16,745
Total Revenues	53,801	68,026
Voyage Expenses	43,077	52,211
Amortization Expenses	3,079	5,187
(Income) Loss of Unconsolidated Entities	142	893
Gross Voyage Profit (Loss) (excluding Depreciation Expense)	$ 7,787	$ 11,521
Gross Voyage Profit (Loss) Margin	14.00%	17.00%
Jones Act [Member]
Segment Reporting Information [Line Items]
Fixed Revenue	$ 22,746	$ 24,595
Total Revenues	22,746	24,595
Voyage Expenses	17,019	18,590
Amortization Expenses	2,216	3,828
Gross Voyage Profit (Loss) (excluding Depreciation Expense)	$ 3,511	$ 2,177
Gross Voyage Profit (Loss) Margin	15.00%	9.00%
PCTC [Member]
Segment Reporting Information [Line Items]
Fixed Revenue	$ 11,577	$ 14,247
Variable Revenue	4,981	7,533
Total Revenues	16,558	21,780
Voyage Expenses	14,131	17,020
Amortization Expenses	556	715
Gross Voyage Profit (Loss) (excluding Depreciation Expense)	$ 1,871	$ 4,045
Gross Voyage Profit (Loss) Margin	11.00%	19.00%
Dry Bulk Carriers [Member]
Segment Reporting Information [Line Items]
Fixed Revenue		$ 1,868
Variable Revenue		1,255
Total Revenues		3,123
Voyage Expenses		2,580
Amortization Expenses		61
(Income) Loss of Unconsolidated Entities		635
Gross Voyage Profit (Loss) (excluding Depreciation Expense)		$ 1,117
Gross Voyage Profit (Loss) Margin		36.00%
Rail-Ferry [Member]
Segment Reporting Information [Line Items]
Variable Revenue	$ 6,775	$ 7,534
Total Revenues	6,775	7,534
Voyage Expenses	5,428	6,635
Amortization Expenses	254	285
(Income) Loss of Unconsolidated Entities	142	(74)
Gross Voyage Profit (Loss) (excluding Depreciation Expense)	$ 1,235	$ 540
Gross Voyage Profit (Loss) Margin	18.00%	7.00%
Specialty Contracts [Member]
Segment Reporting Information [Line Items]
Fixed Revenue	$ 7,169	$ 10,571
Variable Revenue	439	185
Total Revenues	7,608	10,756
Voyage Expenses	6,423	7,557
Amortization Expenses	53	298
(Income) Loss of Unconsolidated Entities		332
Gross Voyage Profit (Loss) (excluding Depreciation Expense)	$ 1,132	$ 3,233
Gross Voyage Profit (Loss) Margin	15.00%	30.00%
Other [Member]
Segment Reporting Information [Line Items]
Variable Revenue	$ 114	$ 238
Total Revenues	114	238
Voyage Expenses	76	(171)
Gross Voyage Profit (Loss) (excluding Depreciation Expense)	$ 38	$ 409

Operating Segments (Reconciliat

Operating Segments (Reconciliation Of Totals Reported For Operating Segments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Segments [Abstract]
Revenues	$ 53,801	$ 68,026
Voyage Expenses	43,077	52,211
Amortization Expense	3,079	5,187
Gross Voyage Profit (Loss) (excluding Depreciation Expense)	7,787	11,521
Vessel Depreciation	5,436	5,543
Other Depreciation	225	184
Gross Profit	2,126	5,794
Administrative and General Expenses	4,513	5,022
Impairment Loss	1,934
Loss on Sale of Assets		68
Less: Net Income of Unconsolidated Entities	142	893
Total Other Operating Expenses	6,589	5,983
Operating Loss	$ (4,463)	$ (189)

Impairment Loss (Narrative) (De

Impairment Loss (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Property, Plant and Equipment [Line Items]
Impairment charge	$ 1,934
Impairment charges of assets held for sale	564	[1]
Inactive Tug [Member] | Jones Act [Member]
Property, Plant and Equipment [Line Items]
Impairment charges of assets held for sale	400
Inactive Barge [Member] | Jones Act [Member]
Property, Plant and Equipment [Line Items]
Impairment charge	900
Inactive Harbor Tug [Member] | Jones Act [Member]
Property, Plant and Equipment [Line Items]
Impairment charges of assets held for sale	100
Belt Self-Unloading Bulk Carrier [Member] | Jones Act [Member]
Property, Plant and Equipment [Line Items]
Impairment charges of assets held for sale	400
New Orleans Office Building [Member]
Property, Plant and Equipment [Line Items]
Impairment charges of assets held for sale	$ 100
[1]	Refers to our Jones Act inactive tug and our New Orleans office building included in current assets held for sale at March 31, 2016.

Assets Held For Sale (Narrative

Assets Held For Sale (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)item
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets	$ 5,093	$ 2,861
Related debt paid off		$ 13,500
Oslo Bulk AS [Member]
Property, Plant and Equipment [Line Items]
Percentage of ownership interest exchanged	25.00%
Oslo Bulk Holding Pte. Ltd. [Member]
Property, Plant and Equipment [Line Items]
Percentage of ownership interest exchanged	23.68%
Saltholmen Shipping Ltd. [Member]
Property, Plant and Equipment [Line Items]
Percentage ownership investment sold	30.00%
Proceeds from sale of percentage of ownership interest	$ 5,700
Brattholmen Shipping Ltd. [Member]
Property, Plant and Equipment [Line Items]
Percentage ownership investment sold	30.00%
Proceeds from sale of percentage of ownership interest	$ 1,500
Handysize Vessel [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold | item	2	1
Related debt paid off		$ 13,500
Capesize Bulk Carrier [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold | item	2
Chemical Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels owned or operated | item	2
Percentage ownership investment sold	30.00%
Asphalt Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels owned or operated | item	2
Percentage ownership investment sold	30.00%
Dry Bulk Carriers [Member] | Handysize Vessel [Member]
Property, Plant and Equipment [Line Items]
Number of vessels sold | item	2
Proceeds from sale of assets	$ 20,700
Related debt paid off	25,100
Decrease in debt outstanding	1,500
Dry Bulk Carriers [Member] | Capesize Bulk Carrier [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets	10,100
Related debt paid off	$ 8,600
Dry Bulk Carriers [Member] | Mini-Bulk Carrier [Member]
Property, Plant and Equipment [Line Items]
Number of vessels owned or operated | item	15

Debt And Lease Obligations (Nar

Debt And Lease Obligations (Narrative) (Details)	Apr. 06, 2016USD ($)	Apr. 30, 2015USD ($)	Mar. 31, 2016USD ($)itemagreement	Mar. 31, 2015USD ($)item	Dec. 31, 2015USD ($)loanitem	Dec. 31, 2013
Line of Credit Facility [Line Items]
Number of secured financing agreements | agreement			5
Current maturities of long-term debt, net			$ 113,721,000		$ 156,807,000
Debt issuance costs			3,300,000		3,000,000
Amortization of debt issuance costs			400,000	$ 200,000
Long term debt carrying amount			$ 117,070,000		159,844,000
Related debt paid off				13,500,000
Loss on Extinguishment of Debt				(95,000)
Number of vessels under bareboat charter or lease agreements | item			7
Number of vessels under operating lease contracts with certain financial covenants | item			3
Unamortized deferred gains related to leased vessels			$ 22,500,000		15,300,000
Deferred gains on sale of property			21,347,000		14,944,000
Amortization expense slightly offset deferred gains			855,000	948,000
Deferred debt issuance costs reclassified from deferred charges, net			3,349,000		3,037,000
Total amount paid off				2,500,000
Mobile, Alabama Corporate Office Lease [Member]
Line of Credit Facility [Line Items]
Commitment to pay early cancelation of lease			2,700,000
Tampa, Florida [Member]
Line of Credit Facility [Line Items]
Lease agreement for office space						5 years
Lease term of office space						60 months
Other Long-term Liabilities [Member]
Line of Credit Facility [Line Items]
Unamortized deferred gains related to leased vessels			21,300,000		14,900,000
Accounts Payable And Accrued Expenses [Member]
Line of Credit Facility [Line Items]
Unamortized deferred gains related to leased vessels			1,200,000		$ 400,000
If Defaulted on any of Operating Lease Agreements [Member]
Line of Credit Facility [Line Items]
Stipulated loss value if forced to buy back vessels			$ 70,600,000
Number of vessels to be purchased back | item			3
Partially Offset Costs Related To New Orleans Office Building [Member] | Louisiana [Member]
Line of Credit Facility [Line Items]
Grant as incentive for relocation			$ 5,200,000
Other Relocation Expenses [Member] | Louisiana [Member]
Line of Credit Facility [Line Items]
Grant as incentive for relocation			$ 5,100,000
DVB Bank SE [Member]
Line of Credit Facility [Line Items]
Debt instrument effective interest rate percentage		4.16%
Amortization period		10 years
Final quarterly balloon payment		$ 16,800,000
Loss on Extinguishment of Debt		$ 300,000
Regions Bank [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Consolidated leverage ratio			5.00%
Loan Agreement [Member]
Line of Credit Facility [Line Items]
Related debt paid off			$ 12,000,000
Loan Agreement [Member] | Related To Regularly-Scheduled Principal Payments [Member]
Line of Credit Facility [Line Items]
Related debt paid off			5,000,000
Loan Agreement [Member] | Related To Various Requirements From Lenders [Member]
Line of Credit Facility [Line Items]
Related debt paid off			7,000,000
Loan Agreement [Member] | Non-Cash Activity [Member]
Line of Credit Facility [Line Items]
Decrease in consolidated indebtedness			$ 30,800,000
Jones Act [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Related debt paid off	$ 700,000
Guarantees [Member]
Line of Credit Facility [Line Items]
Number of guaranteed separate loan facilities of two separate shipping companies | loan					2
Number of shipping companies indirectly owned by wholly-owned subsidiary | item					2
Guarantees [Member] | Loan Facility I [Member]
Line of Credit Facility [Line Items]
Guarantee obligation amount					$ 3,400,000
Guarantees [Member] | Loan Facility II [Member]
Line of Credit Facility [Line Items]
Guarantee obligation amount					$ 1,000,000
Handysize Vessel [Member]
Line of Credit Facility [Line Items]
Related debt paid off				13,500,000
Loss on Extinguishment of Debt				$ 95,000
Number of vessels sold | item			2	1
Capesize Bulk Carrier [Member]
Line of Credit Facility [Line Items]
Number of vessels sold | item			2
PCTC Vessels [Member]
Line of Credit Facility [Line Items]
Number of vessels under bareboat charter or lease agreements | item			2
Container Vessels [Member]
Line of Credit Facility [Line Items]
Number of vessels under operating contracts | item			2
Multi-purpose vessels [Member]
Line of Credit Facility [Line Items]
Number of vessels under operating contracts | item			2
2008 Mini-Bulk Carrier [Member]
Line of Credit Facility [Line Items]
Number of vessels under operating contracts | item			1
Deferred gains on sale of property			$ 8,100,000
Amortization expense slightly offset deferred gains			$ 900,000
Molten Sulphur Carrier [Member] | Jones Act [Member]
Line of Credit Facility [Line Items]
Number of vessels under bareboat charter or lease agreements | item			1
Tankers [Member]
Line of Credit Facility [Line Items]
Number of vessels under bareboat charter or lease agreements | item			2
Multi-Purpose Heavy Lift Vessel [Member] | Specialty Contracts [Member]
Line of Credit Facility [Line Items]
Number of vessels under bareboat charter or lease agreements | item			2
Credit Facility [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity			$ 65,800,000
Minimum EBITDAR to fixed charge coverage ratio			1.05%
Consolidated minimum net worth			$ 228,000,000
Consolidated net income earned			50.00%
Percent of the proceeds of issuances of equity interests received			100.00%
Long term debt covenant minimum liquidity amount			$ 20,000,000
Credit Facility [Member] | Revolving Credit Facility [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity			31,000,000
Credit Facility [Member] | Letter of Credit [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity			6,800,000
Credit Facility [Member] | Term Loan [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity			28,000,000
Old Line Of Credit Facility [Member] | Revolving Credit Facility [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit			40,000,000
Old Line Of Credit Facility [Member] | Standby Letters of Credit [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit			20,000,000
Old Line Of Credit Facility [Member] | Term Loan [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Debt instrument principal amount			45,000,000
Old Line Of Credit Facility [Member] | Swingline Loans [Member] | Regions Bank [Member]
Line of Credit Facility [Line Items]
Line of credit			$ 5,000,000

Debt And Lease Obligations (Sch

Debt And Lease Obligations (Schedule of Debt Obligations) (Details)

Apr. 06, 2016

Nov. 13, 2015

Nov. 12, 2015

Nov. 04, 2015

Nov. 03, 2015

Aug. 26, 2014USD ($)item

Apr. 30, 2016

Apr. 30, 2015USD ($)

Aug. 31, 2014item

Jan. 31, 2012USD ($)

Dec. 31, 2011USD ($)item

Nov. 30, 2011USD ($)

Jun. 30, 2011USD ($)item

Aug. 31, 2010USD ($)item

Mar. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Mar. 31, 2015USD ($)

Dec. 31, 2015USD ($)

Jun. 20, 2011

Debt Instrument [Line Items]

Total principal due

$ 117,070,000

$ 159,844,000

$ 159,844,000

Less current maturities

(113,721,000)

(156,807,000)

(156,807,000)

Less: Debt Issuance Costs

(3,349,000)

(3,037,000)

(3,037,000)

Proceeds from borrowings of line of credit

$ 5,000,000

Pre-funding of upcoming quarterly debt payment, amount

1,496,000

$ 1,530,000

$ 1,530,000

Related debt paid off

13,500,000

Notes Payable - Variable Rate 2018, Tranche B [Member]

Debt Instrument [Line Items]

Debt instrument interst rate, minimum

[1]

4.6947%

Subsequent Event [Member]

Debt Instrument [Line Items]

Increase in interest rate margins

50.00%

Loan Agreement [Member]

Debt Instrument [Line Items]

Related debt paid off

12,000,000

Handysize Vessel [Member]

Debt Instrument [Line Items]

Related debt paid off

$ 13,500,000

Handysize Vessel [Member] | Dry Bulk Carriers [Member]

Debt Instrument [Line Items]

Related debt paid off

$ 25,100,000

ING Bank [Member]

Debt Instrument [Line Items]

Term of financing agreement in years

7 years

Number of tranches | item

2

ING Bank [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Basis spread on variable interest rate

4.50%

2.50%

ING Bank [Member] | Notes Payable - Variable Rate 2018, Tranche A [Member]

Debt Instrument [Line Items]

Interest rate

[1]

4.693%

4.693%

Maturity date

[1]

2,018

Total principal due

[1]

$ 8,589,000

$ 8,589,000

Term of financing agreement in years

7 years

Proceeds from borrowings of line of credit

$ 24,100,000

Number of tranches | item

2

ING Bank [Member] | Notes Payable - Variable Rate 2018, Tranche A [Member] | Dry Bulk Carriers [Member]

Debt Instrument [Line Items]

Business acquisition interest in acquiree

100.00%

ING Bank [Member] | Notes Payable - Variable Rate 2018, Tranche B [Member]

Debt Instrument [Line Items]

Interest rate

[1]

4.9106%

Maturity date

[1]

2,018

Total principal due

[1]

$ 1,851,000

$ 25,146,000

$ 25,146,000

Proceeds from borrowings of line of credit

$ 12,700,000

$ 6,100,000

ING Bank [Member] | Notes Payable - Variable Rate 2018, Tranche B [Member] | Maximum [Member]

Debt Instrument [Line Items]

Proceeds from borrowings of line of credit

$ 23,300,000

ING Bank [Member] | Notes Payable - Variable Rate 2018c [Member]

Debt Instrument [Line Items]

Interest rate

[1]

4.8199%

4.8199%

Maturity date

[1]

2,018

Total principal due

[1]

$ 2,800,000

$ 2,800,000

ING Bank [Member] | Notes Payable - Variable Rate 2018 Tranche I [Member]

Debt Instrument [Line Items]

Secured term loan facility fully drawn amount

$ 36,800,000

ING Bank [Member] | Notes Payable - Variable Rate 2018 Tranche II [Member]

Debt Instrument [Line Items]

Secured term loan facility fully drawn amount

$ 18,400,000

ING Bank [Member] | Handysize Vessel [Member] | Notes Payable - Variable Rate 2018, Tranche A [Member]

Debt Instrument [Line Items]

Number of vessels financed | item

3

Number of vessels covered by Tranch I | item

2

Capital One N.A. [Member] | Notes Payable - Variable Rate 2017 [Member]

Debt Instrument [Line Items]

Interest rate

[2]

2.7885%

2.5938%

2.5938%

Maturity date

[2]

2,017

Total principal due

[2]

$ 6,274,000

$ 6,904,000

$ 6,904,000

Debt instrument principal amount

$ 15,700,000

Debt instrument term, years

5 years

Final quarterly balloon payment

$ 4,700,000

Number of monthly payments | item

59

Regions Bank [Member] | Notes Payable - Variable Rate 2017 [Member]

Debt Instrument [Line Items]

Interest rate

[3]

9.69%

9.44%

9.44%

Maturity date

[3]

2,017

Total principal due

[3]

$ 27,965,000

$ 33,090,000

$ 33,090,000

Regions Bank [Member] | Old Line Of Credit Facility [Member] | Term Loan [Member]

Debt Instrument [Line Items]

Debt instrument principal amount

45,000,000

Regions Bank [Member] | Old Line Of Credit Facility [Member] | Swingline Loans [Member]

Debt Instrument [Line Items]

Line of credit

$ 5,000,000

Regions Bank [Member] | Secured Line Of Credit [Member]

Debt Instrument [Line Items]

Interest rate

[3]

9.69%

9.44%

9.44%

Maturity date

[3]

2,017

Total principal due

[3]

$ 31,000,000

$ 31,000,000

$ 31,000,000

Regions Bank [Member] | Senior Secured Credit Facility [Member] | LIBOR [Member] | July 1, 2016 through July 20, 2017 [Member]

Debt Instrument [Line Items]

Basis spread on variable interest rate

10.00%

Regions Bank [Member] | Senior Secured Credit Facility [Member] | Old Line Of Credit Facility [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Basis spread on variable interest rate

3.50%

Regions Bank [Member] | Senior Secured Credit Facility [Member] | Old Line Of Credit Facility [Member] | LIBOR [Member] | November 13, 2015 through June 30, 2016 [Member]

Debt Instrument [Line Items]

Basis spread on variable interest rate

9.25%

Regions Bank [Member] | Revolving Credit Facility [Member] | Old Line Of Credit Facility [Member]

Debt Instrument [Line Items]

Line of credit

$ 40,000,000

DVB Bank SE [Member]

Debt Instrument [Line Items]

Interest rate

4.16%

Debt instrument term, years

5 years

Final quarterly balloon payment

$ 16,800,000

Amortization period

10 years

DVB Bank SE [Member] | Notes Payable - Fixed Rate 2020 [Member]

Debt Instrument [Line Items]

Interest rate

6.35%

4.35%

6.35%

[4]

6.35%

[4]

6.35%

[4]

Maturity date

[4]

2,020

Total principal due

[4]

$ 32,348,000

$ 33,664,000

$ 33,664,000

Debt instrument principal amount

$ 38,500,000

Number of quarterly payments | item

24

Final quarterly balloon payment

$ 20,700,000

Pre-funding of upcoming quarterly debt payment, amount

$ 500,000

Citizens Asset Finance (formerly RBS Asset Finance) [Member] | Notes Payable - Variable Rate 2021 [Member]

Debt Instrument [Line Items]

Interest rate

[5]

4.1874%

3.99%

3.99%

Maturity date

[5]

2,021

Total principal due

[5]

$ 17,632,000

$ 18,651,000

$ 18,651,000

Debt instrument principal amount

$ 23,000,000

Increase in interest rate margins

1.00%

Number of monthly payments | item

84

Citizens Asset Finance (formerly RBS Asset Finance) [Member] | Notes Payable - Variable Rate 2021 [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Basis spread on variable interest rate

2.75%

Citizens Asset Finance (formerly RBS Asset Finance) [Member] | Subsequent Event [Member] | Notes Payable - Variable Rate 2021 [Member]

Debt Instrument [Line Items]

Increase in interest rate margins

0.50%

[1]

We entered into a variable rate financing agreement with ING Bank N.V, London branch in August 2010 for a seven year facility to finance the construction and acquisition of three handysize vessels. Pursuant to the terms of the facility, the lender agreed to provide a secured term loan facility divided into two tranches which corresponded to the vessel delivery schedule. Tranche I covered the first two vessels delivered with Tranche II covering the last vessel. Tranche I was fully drawn in the amount of $36.8 million, and Tranche II fully drawn at $18.4 million We entered into a variable rate financing agreement with ING Bank N.V., London branch in June 2011 for a seven year facility to finance the acquisition of a capesize vessel and a supramax bulk carrier newbuilding, both of which we acquired a 100% interest in as a result of our acquisition of Dry Bulk. Pursuant to the terms of the facility, the lender agreed to provide a secured term loan facility divided into two tranches: Tranche A, fully drawn in June 2011 in the amount of $24.1 million, and Tranche B, providing up to $23.3 million of additional credit. Under Tranche B, we drew $6.1 million in November 2011 and $12.7 million in January 2012. In order to aid in the collateral value coverage covenant, both of the above facilities were merged into one facility without altering the debt maturities or terms of our indebtedness. Effective November 4, 2015, the interest rate was increased from LIBOR plus 2.5% to LIBOR plus 4.5%. For other changes to the credit facility, refer to "Recent Financing Agreement Waivers and Amendments" within Note F - Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015.

[2]

In December 2011, we entered into a variable rate financing agreement with Capital One N.A. for a five year facility totaling $15.7 million to finance a portion of the acquisition price of a multi-purpose ice strengthened vessel. This loan requires us to make 59 monthly payments with a final balloon payment of $4.7 million in January 2017.

[3]

Our original senior secured Credit Facility was scheduled to mature on September 24, 2018 and included a term loan facility in the principal amount of $45.0 million and a LOC in the principal amount of up to $40.0 million. The LOC facility originally included a $20.0 million sublimit for the issuance of standby letters of credit and a $5.0 million sublimit for swingline loans. As discussed above, o

[4]

We entered into a fixed rate financing agreement with DVB Bank SE, on August 26, 2014 in the amount of $38.5 million, collateralized by our 2007 PCTC at a rate of 4.35% with 24 quarterly payments and a final balloon payment of $20.7 million in August 2020. This loan requires us to pre-fund a one-third portion of the upcoming quarterly scheduled debt payment, which, at March 31, 2016, constituted $0.5 million and is included as restricted cash on our Condensed Consolidated Balance Sheet.

[5]

We have a $23.0 million loan with Citizens Asset Finance (formerly RBS Asset Finance) that is collateralized by one of our 1999 PCTCs at a variable rate equal to the 30-day Libor rate plus 2.75% payable in 84 monthly installments with the final payment due August 2021. Late in 2015, this loan agreement was amended to include an increase to the annual interest rate of 1.0% and in April 2016 this loan agreement was further amended to include an additional increase to the annual interest rate of 0.5%. For additional changes to this facility, refer to "Recent Financing Agreement Waivers and Amendments" within Note F - Debt Obligations of our Annual Report on Form 10-K for the year ended December 31, 2015

Loss On Sale Of Assets (Narrati

Loss On Sale Of Assets (Narrative) (Details) T in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)T
Property, Plant and Equipment [Line Items]
Loss on sale of asset		$ (68,000)
Related debt paid off		13,500,000
Loss on extinguishment of debt		(95,000)
Handysize Vessel [Member]
Property, Plant and Equipment [Line Items]
Proceeds from sale of other assets		$ 16,400,000
Weight of vessel sold | T		36
Loss on sale of asset		$ (68,000)
Related debt paid off		13,500,000
Loss on extinguishment of debt		$ 95,000
Dry Bulk Carriers [Member] | Handysize Vessel [Member]
Property, Plant and Equipment [Line Items]
Related debt paid off	$ 25,100,000

Unconsolidated Entities (Narrat

Unconsolidated Entities (Narrative) (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Minimum percentage of ownership considered for equity method of accounting for investments		20.00%
Maximum percentage of ownership considered for equity method of accounting for investments		50.00%
Investment in Unconsolidated Entities		$ 314		$ 187
Equity in Net Income (Loss) of Unconsolidated Entities		142	$ 893
Due from related parties		1,419		1,415
Impairment charges of assets held for sale	[1]	$ 564
Chemical Tankers [Member]
Schedule of Equity Method Investments [Line Items]
Percentage ownership investment sold		30.00%
Number of vessels owned or operated | item		2
Asphalt Tankers [Member]
Schedule of Equity Method Investments [Line Items]
Percentage ownership investment sold		30.00%
Number of vessels owned or operated | item		2
Dry Bulk Carriers [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities			635
Dry Bulk Carriers [Member] | Mini-Bulk Carrier [Member]
Schedule of Equity Method Investments [Line Items]
Number of vessels owned or operated | item		15
Oslo Bulk AS [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities			515
Percentage of ownership interest exchanged		25.00%
Oslo Bulk Holding Pte. Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities			120
Percentage of ownership interest exchanged		23.68%
Terminales Transgolfo [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest		49.00%
Investment in Unconsolidated Entities		$ 300		$ 200
Equity in Net Income (Loss) of Unconsolidated Entities		$ 142	(74)
Saltholmen Shipping Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities			251
Percentage ownership investment sold		30.00%
Proceeds from sale of investments		$ 5,700
Brattholmen Shipping Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities			$ 81
Percentage ownership investment sold		30.00%
Proceeds from sale of investments		$ 1,500
[1]	Refers to our Jones Act inactive tug and our New Orleans office building included in current assets held for sale at March 31, 2016.

Unconsolidated Entities (Summar

Unconsolidated Entities (Summarized Equity In Net Income (Loss) Of Unconsolidated Entities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities	$ 142	$ 893
Oslo Bulk AS [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities		515
Oslo Bulk Holding Pte. Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities		120
Terminales Transgolfo [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities	$ 142	(74)
Saltholmen Shipping Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities		251
Brattholmen Shipping Ltd. [Member]
Schedule of Equity Method Investments [Line Items]
Equity in Net Income (Loss) of Unconsolidated Entities		$ 81

Investment Exchange And Vesse50

Investment Exchange And Vessel Resale (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 29, 2016USD ($)	Mar. 31, 2016USD ($)item	Dec. 31, 2015USD ($)
Gain (loss) on sale of investments	$ 0
Carrying value of combined investments transferred	$ 5,900
Current notes receivable		$ 3,028	$ 1,628
Long term notes receivable		36,333	24,140
Deferred gains on sale of property		$ 21,347	$ 14,944
Indonesian Shipping Company [Member]
Note receivable amortizing term		10 years
Interest rate on notes receivable		7.50%
Mini-Bulk Carrier [Member]
Percentage of ownership in 2008 mini-bulk carrier	100.00%
Mini-Bulk Carrier [Member] | Indonesian Shipping Company [Member]
Number of Indonesian companies supported sales price with contract | item		2
Current notes receivable		$ 1,400
Long term notes receivable		12,600
Deferred gains on sale of property		8,100
Mini-Bulk Carrier [Member] | Indonesian Shipping Company [Member] | Current Liabilities [Member]
Deferred gains on sale of property		800
Mini-Bulk Carrier [Member] | Indonesian Shipping Company [Member] | Other Long-term Liabilities [Member]
Deferred gains on sale of property		$ 7,300
Oslo Bulk AS [Member]
Percentage of ownership interest exchanged		25.00%
Oslo Bulk Holding Pte. Ltd. [Member]
Percentage of ownership interest exchanged		23.68%

Inventory (Inventory by Major C

Inventory (Inventory by Major Classes) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory [Abstract]
Spare Parts Inventory	$ 1,874	$ 1,930
Fuel Inventory	2,714	2,854
Warehouse Inventory	2,251	2,251
Total	$ 6,839	$ 7,035

Deferred Charges (Narrative) (D

Deferred Charges (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Deferred Charges [Abstract]
Amortization expense for deferred charges	$ 3.2	$ 4.8
Gross deferred charges	44.2		$ 48.5
Accumulated amortization of deferred charges	$ 21.2		$ 25.5

Deferred Charges (Rollforward o

Deferred Charges (Rollforward of Deferred Charges) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Deferred Charges [Abstract]
Drydocking Costs, Beginning Balance	$ 22,123
Drydocking Costs, Cash Additions	2,942
Drydocking Costs, Amortization	(3,079)
Drydocking Costs, Non-Cash Reclassifications	(80)
Drydocking Costs, Ending Balance	21,906
Other Deferred Charges, Beginning Balance	914
Other Deferred Charges, Amortization	(143)
Other Deferred Charges, Non-Cash Reclassifications	371
Other Deferred Charges, Ending Balance	1,142
Total Deferred Charges, Beginning Balance	23,037
Total Deferred Charges, Cash Additions	2,942
Total Deferred Charges, Amortization	(3,222)
Total Deferred Charges, Non-Cash Reclassifications	291
Total Deferred Charges, Ending Balance	$ 23,048

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Taxes [Line Items]
Provision for income taxes	$ 26	$ 39
Loss before taxes and equity in net income of unconsolidated entities	(8,570)	$ (5,355)
Deferred gain on disposal			$ 77,500
Increase (decrease) in valuation allowance	1,800
Periods Ending December 31, 2016 Through December 31, 2018
Income Taxes [Line Items]
Deferred gain from disposition of qualifying vessels remaining amount	31,900
Qualifying replacement property to be acquired to meet non-recognition requirements	52,200
Foreign [Member]
Income Taxes [Line Items]
Deferred tax liability	$ 217

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2014USD ($)	Mar. 31, 2016USD ($)item	Mar. 31, 2015USD ($)	Jun. 26, 2014USD ($)item
Commitments And Contingencies [Line Items]
Number of vessels owned with commitments | item		21
Deposit and interest collected			$ 4.2
Upon Notification of Bankruptcy
Commitments And Contingencies [Line Items]
Deposit reclassified to current receivable from construction in progress	$ 3.9
Interest income from accounts receivable	$ 0.3
U.S. Customs And Border Protection [Member]
Commitments And Contingencies [Line Items]
Number of affiliates that allegedly failed to properly report the importation of spare parts consumed by vessels | item				2
Amount of proposed duty				$ 1.4
Amount of proposed penalty on assessment				$ 5.7
Louisiana [Member] | Relocation of Corporate Headquarters to New Orleans [Member]
Commitments And Contingencies [Line Items]
Relocation incentive receivable		$ 10.3
Louisiana [Member] | Construction and Other Relocation Expenses [Member]
Commitments And Contingencies [Line Items]
Incentive received for offset costs related to construction of office building and other relocation expenses		$ 6.5

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Employee Benefit Plans [Abstract]
Contribution to pension plan	$ 165
Expected contribution to pension plan before December 31, 2016	$ 495

Employee Benefit Plans (Compone

Employee Benefit Plans (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 178	$ 171
Interest cost	395	359
Expected return on plan assets	(583)	(638)
Amortization of prior service cost	(1)	(1)
Amortization of net loss	141	111
Net periodic benefit cost	130	2
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	(13)	8
Interest cost	109	118
Amortization of prior service cost	28	26
Amortization of net loss		37
Net periodic benefit cost	$ 124	$ 189

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) ¥ in Billions	1 Months Ended		3 Months Ended
	Apr. 30, 2015JPY (¥)	Apr. 30, 2015USD ($)	Mar. 31, 2016USD ($)contract	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Embedded derivative liabilities			$ 2,600,000		$ 1,161,000
Number of forward purchase contracts | contract			3
Derivative Loss			$ 1,438,000	$ 2,810,000
Repayment of outstanding debt				13,500,000
Derivative liability			183,000		121,000
Loss on extinguishment of debt				$ (95,000)
DVB Bank SE [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Proceeds from Issuance of Debt		$ 32,000,000
Interest rate		4.16%
Debt instrument term, years	5 years	5 years
Amortization period	10 years	10 years
Final quarterly balloon payment		$ 16,800,000
Loss on extinguishment of debt		300,000
Debt issuance costs capitalized		600,000
Foreign Exchange Contracts [Member] | DVB Bank SE [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Repayment of outstanding debt	¥ 2.9	24,000,000
Foreign Exchange Contract 1 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of forward purchase contracts					$ 900,000
Exchange rate					13.6007
Foreign Exchange Contract 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of forward purchase contracts					$ 900,000
Exchange rate					13.7503
Foreign Exchange Contract 3 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of forward purchase contracts					$ 600,000
Exchange rate					14.1934
Minimum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Embedded derivative liabilities			1,800,000
Maximum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Embedded derivative liabilities			$ 4,900,000
Interest Rate Swaps [Member] | DVB Bank SE [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Yen denominated interest rate swap settled		2,900,000
Foreign Exchange Contracts [Member] | DVB Bank SE [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Yen denominated foreign forward exchange contract settled		$ 4,000,000

Derivative Instruments (Notiona

Derivative Instruments (Notional and Fair Value of Derivative Instruments) (Details) - Embedded Derivative [Member] - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives, fair value	$ (2,417)	$ (1,040)
Other Long-term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives, fair value	$ (183)	$ (121)

Derivative Instruments (Effect

Derivative Instruments (Effect of Derivative Instruments Designated as Cash Flow Hedges (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI	$ 3,099	[1]
Amount of Gain (Loss) Reclassified from AOCI to Income	583
Gain/(Loss) Recognized in Income from Ineffective portion	(2,810)
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI	243	[1]
Gain/(Loss) Recognized in Income from Ineffective portion	49
Interest Rate Swaps [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income	484	[2]
De-Designation of Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI	2,859	[1]
Gain/(Loss) Recognized in Income from Ineffective portion	(2,859)
Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in OCI	(3)	[1]
Foreign Exchange Contracts [Member] | Other Revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from AOCI to Income	$ 99	[2]
[1]	Other Comprehensive (Loss) Income
[2]	Accumulated Other Comprehensive Income

Other Long Term Liabilities (Na

Other Long Term Liabilities (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other Long Term-Liabilities [Abstract]
Other Long-Term Liabilities	$ 24,339	$ 25,268

Other Long Term Liabilities (Ot

Other Long Term Liabilities (Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other Long Term-Liabilities [Abstract]
Billings in Excess of Cost	$ 3,394	$ 3,654
Pension and Post Retirement	10,577	10,778
Alabama Lease Incentive	4,304	4,591
Insurance Reserves	4,800	4,674
Derivatives	183	121
Deferred Tax Liability		309
Other	1,081	1,141
Other Long-Term Liabilities	$ 24,339	$ 25,268

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, par value (in dollars per share)	$ 1		$ 1
Common Stock, shares authorized (in shares)	20,000,000		20,000,000
Stock-based compensation expense	$ 200	$ 2
2015 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, par value (in dollars per share)	$ 1
2015 Stock Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, shares authorized (in shares)	400,000
Unrestricted Stock [Member] | Independent Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	60,000

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	Oct. 19, 2015	Mar. 31, 2016	Jun. 30, 2010	Dec. 31, 2008	Dec. 31, 2015	Jan. 25, 2008
Embedded derivative liabilities		$ 2,600,000			$ 1,161,000
Shares authorized for repurchase (in shares)						1,000,000
Total number of shares purchased (in shares)			223,051	491,572
Payments for shares purchased			$ 5,200,000	$ 11,500,000
Maximum number of shares that may yet be purchased		285,377
Preferred dividend payment, description		On October 19, 2015 and January 19, 2016, we announced that our Board of Directors declared that we would not be paying the cumulative dividend payments scheduled for October 30, 2015 and January 30, 2016 related to our Series A and Series B Preferred Stock. Because we did not pay our preferred stock dividends for two periods, the per annum rate increased on January 31, 2016 by 2.00% per $100.00 stated liquidation preference, or $2.00 per annum.
If Preferred Stock Dividends Not Paid For Two Periods [Member]
Preferred stock, liquidation preference per share	$ 2
Increase in preferred stock dividend rate percentage	2.00%
Preferred stock liquidation preference value	$ 100

Stockholders' Equity (Summary O

Stockholders' Equity (Summary Of Changes In Stockholders' Equity) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Stockholders' Equity [Abstract]
Balance		$ 86,332
Net Loss		(8,454)	$ (4,501)
Unrealized Foreign Currency Translation Loss		(14)	(61)
Net Gain in Funding Status of Defined Benefit Plan		168	$ 304
Issuance of Stock Based Compensation, net	[1]	222
Balance		78,254
Accrued dividends not paid		$ 11,000
[1]	Net of approximately $11,000 included in accounts payable and other accrued expenses at March 31, 2016.

Loss Per Share (Narrative) (Det

Loss Per Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Loss Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	300	70,300

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)loanitem	Dec. 31, 2015USD ($)
Indonesian Shipping Company [Member]
Notes receivables	$ 39.3	$ 40.8
Annual interest rate on notes receivable	7.50%	7.00%
Number of loans | loan	2
Number of vessels sold | item	3
Level 3 Inputs [Member]
Estimated fair value of debt obligations	$ 109.6

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Embedded Derivative	$ (2,600)	$ (1,161)
Level 3 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Embedded Derivative	$ (2,600)	$ (1,161)

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements Used in Testing Impairment of Long-lived Assets and Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Vessels, Property, and Other Equipment, net	$ 375	[1]
Assets Held for Sale	6,133	[2]
Impairment Losses, Vessels, Property, and Other Equipment, net	(1,370)	[1]
Impairment Losses, Assets Held for Sale	(564)	[2]
Level 3 Inputs [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Vessels, Property, and Other Equipment, net	375	[1]
Assets Held for Sale	$ 6,133	[2]
[1]	Refers to our Jones Act inactive barge, inactive harbor tug, and belt self-unloading bulk carrier.
[2]	Refers to our Jones Act inactive tug and our New Orleans office building included in current assets held for sale at March 31, 2016.

Change In Accounting Estimate (

Change In Accounting Estimate (Narrative) (Details) - Change In Salvage Value [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Change in Accounting Estimate [Line Items]
Decrease in salvage values	$ 6.9	$ 0.6
Increase in depreciation expense after adjustment	$ 0.1
Period between salvage value reviews	3 years

Subsequent Event (Narrative) (D

Subsequent Event (Narrative) (Details) - USD ($) $ in Millions	Apr. 19, 2016	Apr. 13, 2016	Apr. 07, 2016	Apr. 06, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Repayments of debt from sale proceeds						$ 13.5
Subsequent Event [Member]
Increase in interest rate margins				50.00%
Subsequent Event [Member] | Jones Act Tug-Barge [Member]
Net proceeds from sale of vessels		$ 0.4
Repayment of debt		$ 0.7
Subsequent Event [Member] | Jones Act [Member]
Repayments of debt from sale proceeds				$ 0.7
Subsequent Event [Member] | Sale Of New Orleans Office Building [Member]
Payment of amount owed to construction company			$ 6.2
9.50% Series A Preferred Stock [Member]
Preferred stock, dividend rate					9.50%		9.50%
9.50% Series A Preferred Stock [Member] | Minimum [Member]
Preferred stock, dividend rate	11.50%
9.50% Series A Preferred Stock [Member] | Subsequent Event [Member] | Maximum [Member]
Preferred stock, dividend rate	13.50%
9.00% Series B Preferred Stock [Member]
Preferred stock, dividend rate					9.00%		9.00%
9.00% Series B Preferred Stock [Member] | Minimum [Member]
Preferred stock, dividend rate	11.00%
9.00% Series B Preferred Stock [Member] | Subsequent Event [Member] | Maximum [Member]
Preferred stock, dividend rate	13.00%