PROPERTY AND EQUIPMENT

3 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

Property and equipment are comprised of the following:



	June 30, 2012		March 31, 2012
Cost
Vessels	$	245,328	$	238,830
Leasehold improvements	3,779		3,847
Furniture and equipment	329		335
Vehicles	22		21
Computer, communication equipment and purchased software	2,834		2,878
	$	252,292	$	245,911
Accumulated depreciation
Vessels	$	45,279	$	42,426
Leasehold improvements	1,087		1,034
Furniture and equipment	168		162
Vehicles	12		12
Computer, communication equipment and purchased software	1,475		1,415
	48,021		45,049
	$	204,271	$	200,862

Depreciable assets as of June 30, 2012 included $26,537 ($21,927 as of March 31, 2012) related to an acquired vessel, for which depreciation will commence when the vessel is ready for use.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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