Business and Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Information about the Company’s reportable segments as of and for the three months ended March 31, 2015 and 2014 follows:

	International
	Crude		Product
Three months ended	Tankers		Carriers		Other		U.S.		Totals
March 31, 2015:
Shipping revenues	$	73,417	$	43,941	$	92	$	116,092	$	233,542
Time charter equivalent revenues		66,821		43,517		92		111,212		221,642
Depreciation and amortization		12,445		6,977		471		17,226		37,119
Gain/(loss) on disposal of vessels		7		(5)		1,133		(62)		1,073
Income/(loss) from vessel operations		31,991		14,276		(408)		37,527		83,386
Equity in income of affiliated companies		8,457		-		3,961		(6)		12,412
Investments in and advances to affiliated companies at March 31, 2015		274,042		14,027		43,304		38		331,411
Total assets at March 31, 2015		1,174,155		536,369		43,304		1,035,102		2,788,930
Payments for drydockings		1,814		23		-		6,039		7,876
March 31, 2014:
Shipping revenues		137,769		47,502		(39)		107,214		292,446
Time charter equivalent revenues		82,921		31,239		(39)		100,432		214,553
Depreciation and amortization		14,260		6,411		495		16,779		37,945
Gain/(loss) on disposal of vessels		1,514		-		-		(37)		1,477
Income/(loss) from vessel operations		33,071		2,990		(513)		28,907		64,455
Equity in income of affiliated companies		7,843		-		273		378		8,494
Investments in and advances to affiliated companies at March 31, 2014		279,256		3,904		42,202		415		325,777
Total assets at March 31, 2014		1,357,607		564,167		42,237		1,025,056		2,989,067
Expenditures for vessels		7,748		22		-		1,740		9,510
Payments for drydockings		535		1,753		-		3,450		5,738

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]

Reconciliations of time charter equivalent revenues of the segments to shipping revenues as reported in the consolidated statements of operations follow:

	Three Months Ended
	March 31,
	2015		2014
Time charter equivalent revenues	$	221,642	$	214,553
Add: Voyage expenses		11,900		77,893
Shipping revenues	$	233,542	$	292,446

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

Reconciliations of income/(loss) from vessel operations of the segments to income before reorganization items and income taxes, as reported in the consolidated statements of operations follow:

	Three Months Ended
	March 31,
	2015		2014
Total income from vessel operations of all segments	$	83,386	$	64,455
General and administrative expenses		(19,282)		(24,425)
Technical management transition costs		(40)		(194)
Severance and relocation costs		(5)		(6,683)
Gain on disposal of vessels		1,073		1,477
Consolidated income from vessel operations		65,132		34,630
Equity in income of affiliated companies		12,412		8,494
Other income		73		134
Interest expense		(28,569)		(123)
Income before reorganization items and income taxes	$	49,048	$	43,135

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Reconciliations of total assets of the segments to amounts included in the consolidated balance sheets follow:

As of March 31,	2015		2014
Total assets of all segments	$	2,788,930	$	2,989,067
Corporate cash and cash equivalents		477,321		638,677
Restricted cash		118,010		-
Other unallocated amounts		73,056		32,728
Consolidated total assets	$	3,457,317	$	3,660,472