CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Shipping Revenues:
Pool revenues, including $23,268 and $20,654 received from companies accounted for by the equity method	$ 56,255	$ 72,526
Time and bareboat charter revenues	83,801	67,985
Voyage charter revenues	107,382	151,867
Shipping revenues	247,438	292,378
Operating Expenses:
Voyage expenses	51,793	78,349
Vessel expenses	66,367	70,703
Charter hire expenses	65,460	95,771
Depreciation and amortization	43,271	49,262
General and administrative	19,726	21,136
Severance and relocation costs	(422)	905
(Gain)/loss on disposal of vessels	22	(106)
Total Operating Expenses	246,217	316,020
Income/(loss) from Vessel Operations	1,221	(23,642)
Equity in Income of Affiliated Companies	10,290	6,908	[1]
Operating Income/(loss)	11,511	(16,734)
Other Income/(expense)	(199)	3,412
Income/(loss) before Interest Expense, Reorganization Items and Income Taxes	11,312	(13,322)
Interest Expense	(288)	(23,010)
Income/(loss) before Reorganization Items and Income Taxes	11,024	(36,332)
Reorganization Items, net	(184,621)	0
Loss before Income Taxes	(173,597)	(36,332)
Income Tax Benefit/(Provision)	5,835	(528)
Net Loss	$ (167,762)	$ (36,860)	[2]
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	30,448,703	30,282,899
Diluted (in shares)	30,448,703	30,282,899
Per Share Amounts:
Basic net loss (in dollars per share)	$ (5.51)	$ (1.22)
Diluted net loss (in dollars per share)	$ (5.51)	$ (1.22)

[1] Equity in income of affiliated companies has been restated for the three months ended March 31, 2012 as more fully described in Note 2.

[2] Net loss has been restated for the three months ended March 31, 2012 as more fully described in Note 2.