TAXES (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of the Company’s deferred tax liabilities and assets follow:

As of December 31,	2012		2011  (As Reported)		2011  (As Restated)
Deferred tax liabilities:
Excess of book over tax basis of depreciable or amortizable assets—net	$	301,301	$	267,687	$	267,687
Unremitted earnings of foreign subsidiaries		103,388		-		216,738
Costs capitalized and amortized for book, expensed for tax		13,058		11,391		11,391
Other—net		11,656		67		326
Total deferred tax liabilities		429,403		279,145		496,142
Deferred tax assets:
Net operating loss carryforward		4,321		110,908		40,892
Employee compensation and benefit plans		24,553		23,201		23,201
Other comprehensive income		7,349		8,533		8,533
Other—net		26,121		6,262		26,837
Total deferred tax assets		62,344		148,904		99,463
Valuation allowance		2,003		72,888		-
Net deferred tax assets		60,341		76,016		99,463
Net deferred tax liabilities		369,062		203,129		396,679
Current deferred tax liabilities		25,900		-		-
Noncurrent deferred tax liabilities	$	343,162	$	203,129	$	396,679

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The components of loss before income taxes follow: 

For the year ended December 31,	2012		2011  (As Restated)		2010  (As Restated)
Foreign	$	(484,306)	$	(129,051)	$	(13,259)
Domestic		2,711		(70,326)		(128,440)
	$	(481,595)	$	(199,377)	$	(141,699)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the income tax (provisions)/benefits follow:

For the year ended December 31,	2012		2011 (As Restated)		2010 (As Restated)
Current	$	(28,270)	$	(31,622)	$	2,043
Deferred		29,751		29,636		17,114
	$	1,481	$	(1,986)	$	19,157

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliations of the actual income tax rate attributable to pretax results and the U.S. statutory income tax rate follow:

For the year ended December 31,	2012			2011  (As Restated)			2010  (As Restated)
Actual income tax rate		0.3	%		(1.0)	%		13.5	%
Adjustments due to:
Income not subject to U.S. income taxes		31.3	%		25.2	%		10.5	%
State taxes, net of federal benefit		1.8	%		0.0	%		0.0	%
Basis adjustment recognized related to liquidation of OSG America L.P.		0.0	%		0.0	%		1.4	%
Provision for unrecognized tax benefits		(0.6)	%		9.8	%		11.2	%
Other		2.2	%		1.0	%		(1.6)	%
Valuation allowance		0.0	%		0.0	%		0.0	%
U.S. statutory income tax rate		35.0	%		35.0	%		35.0	%

Summary of Income Tax Contingencies [Table Text Block]

The following is a roll-forward of the Company’s unrecognized tax benefits (excluding interest and penalties) for 2012 and 2011: 

	2012		2011   (As Restated)		2010   (As Restated)
Balance of unrecognized tax benefits as of January 1,	$	361,829	$	335,432	$	331,241
Increases for positions taken in prior years		482		-		1,072
Decreases for positions taken in prior years		-		(36)
Increases for positions related to the current year		13,514		26,530		4,302
Amounts of decreases related to settlements		(384)		-		(812)
Reductions due to lapse of statutes of limitations		(615)		(97)		(371)
Balance of unrecognized tax benefits as of December 31,	$	374,826	$	361,829	$	335,432