Charter Hire Receivables

6 Months Ended

Jun. 30, 2011

Charter Hire Receivables

Charter Hire Receivables

Note 2 – Charter Hire Receivables

Charter hire receivables consist of the following (in thousands):

	June 30,			December 31,
Description	2011			2010
Charter hire receivables	$	25,139		$	29,531
Less allowance for losses		(1,000	)		(1,000	)
	$	24,139		$	28,531

Management reviews the outstanding receivables by customer and voyage at the close of each reporting period and identifies those receivables that are deemed to be at risk for collection and provides an appropriate allowance for losses.  At June 30, 2011 and December 31, 2010 the allowance for losses aggregated $1.0 million and was deemed adequate after giving consideration to all relevant facts and circumstances.