Interest and OtherInterest expense for the three months ended March 31, 2012, increased from the comparable period in 2011. This was a result of financing collateralized by the Handysize vessels acquired during the first quarter of 2011 and the Handymax vessel delivered in the first quarter of 2012. During the three month period ended March 31, 2012, the Japanese Yen depreciated in relation to the U.S. Dollar from 76.92 to 82.82. This produced the $3.6 million foreign exchange gain reported in the quarter.
International Shipholding Corporation Reports First Quarter 2012 Results
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