Note 2 -Reserves and Impairment	6 Months Ended
Jun. 30, 2014
Reserves And Impairment [Abstract]
Reserves And Impairment [Text Block]	(2) RESERVES AND IMPAIRMENT Accounts receivable allowance We extend credit to various companies in the energy industry that may be affected by changes in economic or other external conditions. Our policy is to manage our exposure to credit risk through credit approvals and limits. Our trade accounts receivable are aged based on contractual payment terms and an allowance for doubtful accounts is established in accordance with our written corporate policy. The age of the trade accounts receivable, customer collection history and management’s judgment as to the customer’s ability to pay are considered in determining whether an allowance is necessary. Historically, write-offs for doubtful accounts have been insignificant, however, in the second quarter of 2014, we reserved the accounts receivable from a customer whose current financial position indicates that they will not be able to pay the amounts due. The total bad debt expense in the second quarter of 2014 was $2.4 million, which amount is reflected in general and administrative expense in our statement of operations. Impairment As of June 30, 2014, we have certain vessel components in our North Sea region fixed asset base that were intended to be used in our new-build program. We have recently re-evaluated the use of these components and determined that these components will not be used in our new-build fleet and we are actively pursuing a sale of the equipment. As a result, we have adjusted the carrying value to reflect the net realizable value. These assets are included in Deferred costs and other assets on our balance sheet. The total charge to impairment expense related to these components was $7.0 million. In addition, we determined to sell rather than use a spare part in our Southeast Asia region and charged an additional $0.5 million to impairment expense.

Note 2 -Reserves and Impairment

6 Months Ended

Jun. 30, 2014

(2) RESERVES AND IMPAIRMENT

Accounts receivable allowance

We extend credit to various companies in the energy industry that may be affected by changes in economic or other external conditions. Our policy is to manage our exposure to credit risk through credit approvals and limits. Our trade accounts receivable are aged based on contractual payment terms and an allowance for doubtful accounts is established in accordance with our written corporate policy. The age of the trade accounts receivable, customer collection history and management’s judgment as to the customer’s ability to pay are considered in determining whether an allowance is necessary. Historically, write-offs for doubtful accounts have been insignificant, however, in the second quarter of 2014, we reserved the accounts receivable from a customer whose current financial position indicates that they will not be able to pay the amounts due. The total bad debt expense in the second quarter of 2014 was $2.4 million, which amount is reflected in general and administrative expense in our statement of operations.

Impairment

As of June 30, 2014, we have certain vessel components in our North Sea region fixed asset base that were intended to be used in our new-build program. We have recently re-evaluated the use of these components and determined that these components will not be used in our new-build fleet and we are actively pursuing a sale of the equipment. As a result, we have adjusted the carrying value to reflect the net realizable value. These assets are included in Deferred costs and other assets on our balance sheet. The total charge to impairment expense related to these components was $7.0 million. In addition, we determined to sell rather than use a spare part in our Southeast Asia region and charged an additional $0.5 million to impairment expense.