Note 5 - Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Related Party Transactions [Table Text Block]

	December 31, 2010		December 31, 2011		December 31, 2012
Management Fees –Related Parties
Central Mare Inc (Note 5)		1,666		5,575		2,345
TMS Tankers *		138		-		-
International Shipmanagement Inc		-		155		-
Total		1,804		5,730		2,345
Management Fees –Third Parties
ST Shipping and Transport Pte. Limited		9		10		-
TMS Tankers		-		384		-
Heidmar Inc		-		45		-
Interorient		11		-		-
V. Ships Management limited		99		-		-
Total		119		439		-

Central Mare [Member]

Schedule of Related Party Transactions [Table Text Block]

	Year Ended December 31,
	2011		2012
Management Fees	$	5,575	$	2,345	Management fees related party - Statement of comprehensive income/ (loss)
Executive officers and other personnel expenses	$	5,405	$	2,349	General and administrative expenses - Statement of comprehensive income/ (loss)
Superintendent Fees	$	184	$	29	Vessel operating expenses - Statement of comprehensive income/ (loss)
Superintendent Fees	$	39		-	Dry-docking costs - Statement of comprehensive income/ (loss)
Commission for sale of vessels	$	1,216		-
Commission on charter hire agreements	$	672	$	275	Voyage expenses - Statement of comprehensive income/ (loss)
Total	$	13,901	$	4,998