International Shipholding Corporation, through its subsidiaries, operates a diversified fleet of United States and international flag vessels that provide international and domestic maritime transportation services to commercial and governmental customers primarily under medium to long-term time charters or contracts of affreightment. As of March 2, 2012, the Company owned or operated 38 ocean-going vessels. The Company operates in five segments: Time Charter Contracts - U.S. Flag, Time Charter Contracts - International Flag, Contracts of Affreightment (COA), Rail-Ferry Service, and Other. In February 2012, the Company completed a sale and leaseback transaction for its 2007-built Pure Car Truck Carrier, Green Bay. In March 2012, the Company sold two of its International Flag Pure Car Truck Carriers, ASIAN KING and ASIAN EMPEROR, to Norwegian Car Carriers ASA. In October 2012, it purchased a Pure Car Truck Carrier (PCTC). In November 2012, it acquired United Ocean Services, LLC (UOS).