Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
REVENUE
Freight and related revenue	$ 36,327	$ 30,694
Fuel and other surcharges	12,475	11,332
Outside voyage charter revenue	810	310
TOTAL REVENUE	49,612	42,336
EXPENSES
Outside voyage charter fees (Note 18)	822	307
Vessel operating expenses	33,157	28,576
Repairs and maintenance	387	826
General and administrative	2,970	2,976
Depreciation	3,488	2,791
Amortization of drydock costs	879	739
Amortization of intangibles	326	337
Loss (gain) on foreign exchange	4	(31)
TOTAL EXPENSES	42,033	36,521
OPERATING INCOME	7,579	5,815
OTHER (INCOME) AND EXPENSES
Interest expense (Note 19)	2,704	2,001
Interest income	(4)	(1)
Gain on interest rate swap contracts (Note 21)	(270)	(45)
TOTAL OTHER (INCOME) AND EXPENSES	2,430	1,955
INCOME BEFORE INCOME TAXES	5,149	3,860
PROVISION FOR INCOME TAXES (Note 6)
Current		57
Deferred	2,054	474
TOTAL PROVISION FOR INCOME TAXES	2,054	531
NET INCOME BEFORE PREFERRED STOCK DIVIDENDS	3,095	3,329
PREFERRED STOCK DIVIDENDS	758	660
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS	$ 2,337	$ 2,669
Net income (loss) per share basic and diluted (Note 22)	$ 0.13	$ 0.18
Weighted average shares basic and diluted	17,720,071	14,858,952