Interest and Other ExpenseInterest expense for the three months ended June 30, 2011, decreased from the comparable period in 2010. While the Company incurred additional debt on the purchase of the three Handysize Bulk Carriers, the lower swapped interest rate on other loans offset higher interest expense. The foreign exchange non cash loss of $1.9 million is the result of a weaker U. S. dollar versus the Japanese Yen and its impact on the Company’s Yen-denominated facility over the three month period ended June 30, 2011. The Yen was pegged at 80.57 as of the end of the second quarter.
International Shipholding Corporation Reports Second Quarter 2011 Results
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