Attached files
Exhibit 99.3
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Pg 1 of 16
16-12220-smb Doc 543 FiledEntity Name: International Shipholding Corporation (Consolidating)01/17/17 Entered 01/17/17 16:31:07 Main Document CPg 2 of 1 6 Monthly Operating Report - Southern District of New YorkSchedule of Cash Receipts & Disbursements Reporting Period: December-16 Debtor Name Account # Beginning Balance Third Party Intercompany Deposits per Bank Net Deposits in Total Cash Intercompany Third Party Disbursements per Net Outstanding Total Cash FX Gain/(Loss) Ending Book (Last 4 digits) Deposits Deposits Statement Transit Receipts Disbursements Disbursements Bank Statement Checks Disbursements Balance International Shipholding Corporation 2907 $ 1,007.52 $ - $ 2,500.00 $ 2,500.00 $ - $ 2,500.00 $ - $ 1,720.16 $ 1,720.16 $ - $ 1,720.16 $ - $ 1,787.36 International Shipholding Corporation 1639 10,007.40 - - - - - - - - - - - 10,007.40 International Shipholding Corporation 1314 10,530.87 - 265,883.53 265,883.53 - 265,883.53 140,883.53 121,888.69 262,772.22 - 262,772.22 - 13,642.18 International Shipholding Corporation 4643 3,622,070.22 578,297.43 18,943,100.24 19,521,397.67 - 19,521,397.67 2,868,100.24 17,798,675.54 20,666,775.78 (488,135.18) 20,178,640.60 - 2,964,827.29 International Shipholding Corporation 6001 1,202.50 - - - - - - 75.00 75.00 - 75.00 - 1,127.50 International Shipholding Corporation 8174 18,303.84 - - - - - - 969.99 969.99 - 969.99 - 17,333.85 International Shipholding Corporation 9131 24,409.34 1.00 - 1.00 - 1.00 - - - - - - 24,410.34 International Shipholding Corporation 3120 1,052,695.60 129.48 - 129.48 - 129.48 - - - - - - 1,052,825.08 N.W. Johnson & Co. Inc 8364 164,055.13 42,160.74 42,160.74 - 42,160.74 150,000.00 - 150,000.00 - 150,000.00 - 56,215.87 Coastal Carriers, Inc. 4547 11,529.34 - - - - - 6,500.00 - 6,500.00 - 6,500.00 - 5,029.34 U.S. United Ocean Services, LLC 1715 7,703.70 - 4,000.00 4,000.00 - 4,000.00 - 10,172.15 10,172.15 - 10,172.15 - 1,531.55 U.S. United Ocean Services, LLC 3712 (3.58) - - - - - - - - - - - (3.58) U.S. United Ocean Services, LLC 1468 - - 5,266,145.70 5,266,145.70 - 5,266,145.70 5,265,000.00 1,145.70 5,266,145.70 - 5,266,145.70 - - U.S. United Ocean Services, LLC 2260 428,301.84 4,855,705.54 - 4,855,705.54 - 4,855,705.54 5,266,145.70 - 5,266,145.70 - 5,266,145.70 - 17,861.68 U.S. United Ocean Services, LLC 1715 - - - - - - - - - - - - - Frascati Shops, Inc. 9623 96,963.74 5,218.86 - 5,218.86 - 5,218.86 - - - - - - 102,182.60 Frascati Shops, Inc. 8552 44,239.81 37,655.92 - 37,655.92 - 37,655.92 50,000.00 3,682.10 53,682.10 - 53,682.10 - 28,213.63 Waterman Steamship Corporation 9031 1,093.16 - - - - - - 10.00 10.00 - 10.00 - 1,083.16 Waterman Steamship Corporation 9058 1,018.75 - 75,000.00 75,000.00 - 75,000.00 - 66,515.20 66,515.20 (103.60) 66,411.60 - 9,607.15 Waterman Steamship Corporation 9066 4,639.07 - 195,000.00 195,000.00 - 195,000.00 10,000.00 179,368.74 189,368.74 400.00 189,768.74 - 9,870.33 Waterman Steamship Corporation 3208 (10.00) 10.00 - 10.00 - 10.00 - 10.00 10.00 - 10.00 - (10.00) Waterman Steamship Corporation 2043 23,250.28 983,176.34 61,000.00 1,044,176.34 - 1,044,176.34 945,000.00 110,000.00 1,055,000.00 - 1,055,000.00 - 12,426.62 Waterman Steamship Corporation 1129 791,710.76 767,476.71 - 767,476.71 - 767,476.71 1,480,000.00 - 1,480,000.00 - 1,480,000.00 - 79,187.47 Waterman Steamship Corporation 8703 85,000.00 - - - - - - - - - - - 85,000.00 Waterman Steamship Corporation 2043-004 - - - - - - - - - - - - - Sulphur Carriers, Inc. 1276 10,611.40 - 175,000.00 175,000.00 - 175,000.00 - 178,000.00 178,000.00 - 178,000.00 - 7,611.40 Sulphur Carriers, Inc. 1110 12,843.30 - 612,000.00 612,000.00 - 612,000.00 - 594,406.70 594,406.70 12,367.22 606,773.92 - 18,069.38 Sulphur Carriers, Inc. 1102 20,593.09 1,439,079.73 285,000.00 1,724,079.73 - 1,724,079.73 1,455,000.00 284,150.28 1,739,150.28 - 1,739,150.28 - 5,522.54 LMS Shipmanagement, Inc. 1292 7,681.52 - 45,000.00 45,000.00 - 45,000.00 - 49,454.59 49,454.59 - 49,454.59 - 3,226.93 LMS Shipmanagement, Inc. 7395 7,006.21 622.40 - 622.40 - 622.40 - 4,514.83 4,514.83 - 4,514.83 - 3,113.78 LMS Shipmanagement, Inc. 1099 30,029.22 1,611.62 25,000.00 26,611.62 - 26,611.62 50,000.00 422.23 50,422.23 - 50,422.23 - 6,218.61 Central Gulf Lines, Inc. 0586 1,000.00 - - - - - - - - - - - 1,000.00 Central Gulf Lines, Inc. 0997 200,000.71 2,961,546.85 2,822,856.00 5,784,402.85 - 5,784,402.85 5,734,927.00 236,000.00 5,970,927.00 - 5,970,927.00 - 13,476.56 Central Gulf Lines, Inc. 6645 3,902.09 - - - - - - 6,284.69 6,284.69 (6,284.69) - - 3,902.09 Central Gulf Lines, Inc. 1005 32,956.28 - 243,000.00 243,000.00 - 243,000.00 - 284,399.19 284,399.19 (12,732.42) 271,666.77 - 4,289.51 Central Gulf Lines, Inc. 1021 8,670.84 5,700.00 280,000.00 285,700.00 - 285,700.00 - 282,200.00 282,200.00 - 282,200.00 - 12,170.84 Central Gulf Lines, Inc. 0998 1,150,891.06 254,265.40 - 254,265.40 - 254,265.40 1,330,000.00 - 1,330,000.00 - 1,330,000.00 - 75,156.46 Central Gulf Lines, Inc. 1013 14,378.72 - 480,000.00 480,000.00 - 480,000.00 - 485,145.18 485,145.18 (7.35) 485,137.83 - 9,240.89 Central Gulf Lines, Inc. 8844 299,048.04 860,462.38 - 860,462.38 - 860,462.38 1,155,000.00 - 1,155,000.00 - 1,155,000.00 - 4,510.42 Central Gulf Lines, Inc. 3652 1,159,189.18 579,221.41 - 579,221.41 - 579,221.41 1,394,799.14 27,900.99 1,422,700.13 - 1,422,700.13 - 315,710.46 Central Gulf Lines, Inc. 3660 339,580.00 - 244,799.14 244,799.14 - 244,799.14 - 434,817.40 434,817.40 - 434,817.40 - 149,561.74 Central Gulf Lines, Inc. 0997-004 173,929.00 - 1,083,927.00 1,083,927.00 - 1,083,927.00 1,257,856.00 - 1,257,856.00 - 1,257,856.00 - - Enterprise Ship Company, Inc. 1064 20,644.67 - - - - - - - - - - - 20,644.67 LCI Shipholdings, Inc. 2027 33,340.18 92,980.00 - 92,980.00 - 92,980.00 120,000.00 - 120,000.00 - 120,000.00 - 6,320.18 LCI Shipholdings, Inc. 1080 13,630.29 465,160.28 - 465,160.28 - 465,160.28 465,000.00 - 465,000.00 - 465,000.00 - 13,790.57 LCI Shipholdings, Inc. 6001 3,970.85 - - - - - - 75.00 75.00 - 75.00 - 3,895.85 LCI Shipholdings, Inc. 9099 7,521.35 - - - - - - - - - - - 7,521.35 LCI Shipholdings, Inc. 2027-004 - - - - - - - - - - - - - LCI Shipholdings, Inc. 0947 42,880.02 5.27 - 5.27 - 5.27 - - - - - - 42,885.29 Dry Bulk Australia Ltd. 1731 13,060.35 - - - - - - - - - - - 13,060.35 Dry Bulk Americas Ltd. 1027 12,141.61 - - - - - - - - - - - 12,141.61 Marco Shipping Company (PTE) Ltd 5001 32,888.99 98,154.15 98,154.15 - 98,154.15 15,000.00 - 15,000.00 - 15,000.00 - 116,043.14 Marco Shipping Company (PTE) Ltd 5002 5,224.69 - 15,000.00 15,000.00 - 15,000.00 - 6,609.67 6,609.67 - 6,609.67 (121.32) 13,493.70 Gulf South Shipping PTE Ltd 4001 10,510.64 - - - - - - - - - - - 10,510.64 Gulf South Shipping PTE Ltd 4002 5,645.89 - - - - - - - - - - (77.63) 5,568.26 Gulf South Shipping PTE Ltd 3659 129,629.48 1,850,274.25 - 1,850,274.25 - 1,850,274.25 1,965,000.00 - 1,965,000.00 - 1,965,000.00 - 14,903.73 Total $ 10,203,118.96 $ 15,878,915.76 $ 31,124,211.61 $ 47,003,127.37 $ - $ 47,003,127.37 $ 31,124,211.61 $ 21,168,614.02 $ 52,292,825.63 $ (494,496.02) $ 51,798,329.61 $ (198.95) $ 5,407,717.77 MOR-1Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main DocumentEntity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 3 of 16 Monthly Operating Report - Southern District of New York Bank Reconciliation (or Copies of Debtor's Bank Reconciliations)Reporting Period: December-16 Debtor Name Bank Account # Bank Balance Deposits in Transit Checks Outstanding Book Balance Notes/ Comments (Last 4 Digits) 4 1 International Shipholding Corporation 2907 $ 1,787.36 $ - $ - $ 1,787.36 International Shipholding Corporation 1639 10,007.40 - - 10,007.40 International Shipholding Corporation 1314 13,642.18 - - 13,642.18 International Shipholding Corporation 4643 3,520,688.69 - (555,861.40) 2,964,827.29 International Shipholding Corporation 6001 1,127.50 - - 1,127.50 International Shipholding Corporation 8174 17,333.85 - - 17,333.85 International Shipholding Corporation 9131 24,410.34 - - 24,410.34 International Shipholding Corporation 3 3120 1,052,825.08 - - 1,052,825.08 Restricted Cash N.W. Johnson & Co. Inc 8364 56,215.87 - - 56,215.87 Coastal Carriers, Inc. 4547 5,029.34 - - 5,029.34 U.S. United Ocean Services, LLC 1715 1,531.55 - - 1,531.55 U.S. United Ocean Services, LLC 3712 - - (3.58) (3.58) U.S. United Ocean Services, LLC 1468 - - - - U.S. United Ocean Services, LLC 2260 17,861.68 - - 17,861.68 U.S. United Ocean Services, LLC2 1715 - - - - Frascati Shops, Inc. 9623 102,182.60 - - 102,182.60 Frascati Shops, Inc. 8552 28,213.63 - - 28,213.63 Waterman Steamship Corporation 9031 1,195.16 - (112.00) 1,083.16 Waterman Steamship Corporation 9058 9,607.15 - - 9,607.15 Waterman Steamship Corporation 9066 12,370.33 - (2,500.00) 9,870.33 Waterman Steamship Corporation 3208 (10.00) - - (10.00) Waterman Steamship Corporation 2043 12,426.62 - - 12,426.62 Waterman Steamship Corporation 1129 79,187.47 - - 79,187.47 Waterman Steamship Corporation 8703 85,000.00 - - 85,000.00 Waterman Steamship Corporation 2 2043-004 - - - - Sulphur Carriers, Inc. 1276 7,611.40 - - 7,611.40 Sulphur Carriers, Inc. 1110 30,721.60 - (12,652.22) 18,069.38 Sulphur Carriers, Inc. 1102 5,522.54 - - 5,522.54 LMS Shipmanagement, Inc. 1292 3,226.93 - - 3,226.93 LMS Shipmanagement, Inc. 7395 3,113.78 - - 3,113.78 LMS Shipmanagement, Inc. 1099 6,218.61 - - 6,218.61 Central Gulf Lines, Inc. 0586 1,000.00 - - 1,000.00 Central Gulf Lines, Inc. 0997 13,476.56 - - 13,476.56 Central Gulf Lines, Inc. 6645 3,902.09 - - 3,902.09 Central Gulf Lines, Inc. 1005 4,289.51 - - 4,289.51 Central Gulf Lines, Inc. 1021 13,670.84 - (1,500.00) 12,170.84 Central Gulf Lines, Inc. 0998 75,156.46 - - 75,156.46 MOR-1 (Cont.) Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main DocumentEntity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 4 of 16 Monthly Operating Report - Southern District of New York Bank Reconciliation (or Copies of Debtor's Bank Reconciliations)Reporting Period: December-16 Debtor Name Bank Account # Bank Balance Deposits in Transit Checks Outstanding Book Balance Notes/ Comments (Last 4 Digits) 4 1 Central Gulf Lines, Inc. 1013 9,240.89 - - 9,240.89 Central Gulf Lines, Inc. 8844 4,510.42 - - 4,510.42 Central Gulf Lines, Inc. 3652 315,710.46 - - 315,710.46 Central Gulf Lines, Inc. 3660 149,561.74 - - 149,561.74 Restricted Cash Central Gulf Lines, Inc.5 0997-004 - - - - Enterprise Ship Company, Inc. 1064 20,644.67 - - 20,644.67 LCI Shipholdings, Inc. 2027 6,320.18 - - 6,320.18 LCI Shipholdings, Inc. 1080 13,790.57 - - 13,790.57 LCI Shipholdings, Inc. 6001 3,895.85 - - 3,895.85 LCI Shipholdings, Inc. 9099 7,521.35 - - 7,521.35 LCI Shipholdings, Inc.2 2027-004 - - - - LCI Shipholdings, Inc. 0947 42,885.29 - - 42,885.29 Dry Bulk Australia Ltd. 1731 13,060.35 - - 13,060.35 Dry Bulk Americas Ltd. 1027 12,141.61 - - 12,141.61 Marco Shipping Company (PTE) Ltd 5001 116,043.14 - - 116,043.14 Marco Shipping Company (PTE) Ltd 5002 13,493.70 - - 13,493.70 Gulf South Shipping PTE Ltd 4001 10,510.64 - - 10,510.64 Gulf South Shipping PTE Ltd 4002 5,568.26 - - 5,568.26 Gulf South Shipping PTE Ltd 3659 14,903.73 - - 14,903.73 Total $ 5,980,346.97 $ - $ (572,629.20) $ 5,407,717.77 1 Outstanding check listing can be provided at request. 2 The Debtors did not receive statements from the bank in these overnight sweep accounts because the balance remains zero in December. 3 The bank balance reflects the balance from the November statement, which the Debtors believe remains accurate except for an immaterial amount of interest earned on the funds which wasthe only activity in this account each month. 4 The Debtors have not included copies of the bank statements due to the voluminous nature of such documents. Copies will be provided upon request. 5 The Debtors did not receive a statement from the bank for this overnight sweep account. Per review of the bank account, there was activity during the month of December, however thebalance was zero at 12/31/16. MOR-1 (Cont.) Page 2
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 5 of 16 Monthly Operating Report - Southern District of New YorkMOR-1 Addendum: Disbursement Totals by DebtorReporting Period: December-16 Debtor Name Account # Total cash disbursements Total cash disbursements per MOR-1 (w/ Interco) per MOR-1 (w/o Interco) International Shipholding Corporation (16-12220) Total $ 20,444,177.97 $ 17,435,194.20 N.W. Johnson & Co. Inc (16-12218) Total 150,000.00 - Coastal Carriers, Inc. (16-12222) Total 6,500.00 - U.S. United Ocean Services, LLC (16-12235) Total 10,542,463.55 11,317.85 Frascati Shops, Inc. (16-12226) Total 53,682.10 3,682.10 Waterman Steamship Corporation (16-12219) Total 2,791,200.34 356,200.34 Sulphur Carriers, Inc. (16-12233) Total 2,523,924.20 1,068,924.20 LMS Shipmanagement, Inc. (16-12229) Total 104,391.65 54,391.65 Central Gulf Lines, Inc. (16-12221) Total 12,610,305.13 1,737,722.99 Enterprise Ship Company, Inc. (16-12225) Total - - LCI Shipholdings, Inc. (16-12228) Total 585,075.00 75.00 Dry Bulk Australia Ltd. (16-12224) Total - - Dry Bulk Americas Ltd. (16-12223) Total - - Marco Shipping Company (PTE) Ltd (16-12231) Total 21,609.67 6,609.67 Gulf South Shipping PTE Ltd (16-12227) Total 1,965,000.00 - Grand Total $ 51,798,329.61 $ 20,674,118.00 MOR-1 Addendum Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Pg 6 of 16 Case Number: 16-12220 Monthly Operating Report - Southern District of New YorkStatement of Operations (Income Statement) Reporting Period: December-16 Statement Line Item Month Amount Cumulative - Filing To Date REVENUE Gross Revenues $ 14,332,454.98 $ 74,577,966.44 OPERATING EXPENSES Voyage Expenses 10,728,370.51 57,490,802.04 Amortization Expense 491,792.00 3,392,757.00 Depreciation Expense 1,292,552.97 6,415,068.92 Administrative and General Expenses 1,967,091.69 6,095,074.44 Net Profit (Loss) Before Other Income & Expenses $ (147,352.19) $ 1,184,264.04 OTHER INCOME AND EXPENSES Interest Expense 1,140,993.82 5,369,637.48 Interest Income (167.60) (1,522.34) Income from Consolidated Subsidiaries (302,212.42) (1,745,935.85) Net Loss Before Reorganization Items $ (985,965.99) $ (2,437,915.25) REORGANIZATION ITEMS Professional Fees 5,527,251.68 13,171,689.40 U. S. Trustee Quarterly Fees 5,450.00 124,025.00 Interest Earned on Accumulated Cash from Chapter 11 (See MOR-2 - Other Schedule tab) Loss from Sale of Equipment 157,517.30 117,518.30 Other Reorganization Expenses (See MOR-2 Other Schedule tab) - - Income Taxes 93,769.59 106,019.59 Net Loss $ (6,769,954.56) $ (15,957,167.54) MOR-2Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 7 of 16 Monthly Operating Report - Southern District of New YorkBalance Sheet Reporting Period: December-16 Category Book Value At End Of Book Value At End Of Prior Book Value On Petition Date Current Reporting Month Reporting Month Or Scheduled Current Assets Cash on Hand $ 256,879.89 $ 472,191.55 $ 332,340.90 Unrestricted Cash and Equivalents 4,205,330.95 8,810,843.36 4,067,480.98 Restricted Cash and Cash Equivalents (See MOR- 3 Other Sch) 1,202,386.82 1,392,275.60 1,997,025.04 Trade Accounts Receivable (Net) 9,059,494.80 9,537,159.27 8,620,036.00 Unbilled Accounts Receivable (Net) 12,567,953.80 12,031,300.80 10,099,426.00 Notes Receivable - - - Inventories 6,464,900.41 5,960,412.97 6,119,445.33 Prepaid Expenses 5,028,809.02 4,706,299.74 2,892,687.98 Professional Retainers 235,078.00 235,078.00 235,078.00 Other Current Assets (See MOR-3 Other Sch) - - - Property & Equipment Real Property and Improvements 2,419,781.27 2,419,781.27 2,707,867.22 Machinery and Equipment 213,583,484.21 214,502,882.29 217,456,370.74 Furniture, Fixtures and Office Equipment 4,687,285.29 4,687,285.29 4,103,934.83 Accumulated Depreciation (39,915,824.36) (38,623,271.39) (33,500,755.44) Other Assets (See MOR-3 Other Sch) 35,441,352.66 35,448,131.51 35,124,339.05 Total Assets $ 255,236,912.76 $ 261,580,370.26 $ 260,255,276.63 Liabilities Not Subject To Compromise (Post- Petition) Accounts Payable $ 1,556,296.64 $ 3,313,443.20 $ - Taxes Payable 190,211.64 189,764.05 - Accrued Expenses- Crew Payable 2,397,197.09 2,836,501.35 - Accrued Expenses- Professional Fees 5,661,721.11 5,000,414.00 - Accrued Expenses 15,005,151.06 10,299,360.39 - Billings in Excess of Cost 2,335,167.20 2,100,983.14 - Debtor in Possession Financing 18,100,000.00 18,100,000.00 - Other Post-Petition Liabilities (See MOR-3 Other Sch) - - - Total Post-Petition Liabilities $ 45,245,744.74 $ 41,840,466.13 $ - Liabilities Subject to Compromise (Pre-Petition) Secured Debt $ 107,046,643.48 $ 107,149,072.06 $ 110,189,774.35 Priority Debt 1,418,401.26 1,088,085.69 2,980,642.00 Unsecured Debt 44,443,632.56 40,995,142.51 66,052,919.48 Other Pre-Petition Liabilities (See MOR-3 Other Sch) 11,197,815.84 11,411,713.36 12,978,934.00 Total Pre-Petition Liabilities $ 164,106,493.14 $ 160,644,013.62 $ 192,202,269.83 Owner's Equity Capital Stock $ 9,462,422.41 $ 9,428,688.77 $ 9,413,754.21 Additional Paid-In Capital 141,865,905.18 141,846,851.13 141,794,639.63 Partners' Capital Account - - - Owner's Equity Account (37,006,463.10) (37,012,337.81) (37,175,288.44) Retained Earnings - Pre-Petition (52,480,022.07) (45,980,098.60) (45,980,098.60) Retained Earnings - Post-Petition (15,957,167.54) (9,187,212.98) - Total Equity $ 45,884,674.88 $ 59,095,890.51 $ 68,053,006.80 Total Liabilities and Owner's Equity $ 255,236,912.76 $ 261,580,370.26 $ 260,255,276.63 MOR-3Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 8 of 16 Monthly Operating Report - Southern District of New YorkBalance Sheet - Other Schedule Reporting Period: December-16 Category Book Value At End Of Book Value At End Of Book Value On Petition Notes/ Comments Current Reporting Prior Reporting Month Date Month Assets Other Assets $ 2,565,539.44 $ 2,606,712.71 $ 2,528,749.06 LT deposits Other Assets (3,886,403.32) (3,685,773.22) (2,575,674.66) Due (to) from affiliates, net Other Assets 36,680,977.77 36,439,183.35 35,056,196.42 Investment in subsidiaries Other Assets 81,238.77 88,008.67 115,068.23 LT deferred charge related to TECO contract Total Other Assets $ 35,441,352.66 $ 35,448,131.51 $ 35,124,339.05 Liabilities Liabilities Not Subject To Compromise (Pre-Petition) $ 3,120,961.18 $ 3,237,131.21 $ 4,071,824.00 Claims reserve Liabilities Not Subject To Compromise (Pre-Petition) 15,787.00 15,551.00 14,607.00 GAAP SL versus cash on escalating lease payments Liabilities Not Subject To Compromise (Pre-Petition) 7,124,919.66 7,384,629.15 8,423,467.00 Deferred gain - Sulphur and CGL/Green Lake Liabilities Not Subject To Compromise (Pre-Petition) 20,050.00 (64,103.00) (64,103.00) Deferred tax Liabilities Not Subject To Compromise (Pre-Petition) 916,098.00 838,505.00 533,139.00 PT AMAS dry dock funding for Flores and Sawu Total Liabilities Not Subject To Compromise (Pre-Petition) $ 11,197,815.84 $ 11,411,713.36 $ 12,978,934.00 MOR-3b Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main DocumentEntity Name: International Shipholding Corporation (Consolidating) CaPg 9 of 1 6 Monthly Operating Report - Southern District of New YorkStatus of Post-Petition Taxes Reporting Period: December-16 Debtor Federal/ State & Description Beginning Tax Amount Withheld Amount Paid Date Paid1 Check # or Ending Tax Notes/ Comments Local and/or Accrued EFT1 International Shipholding Corporation Federal Withholding $ (47,985.82) $ (618,416.33) $ 617,573.90 Various $ (48,828.25) 941 Tax - Paid In January International Shipholding Corporation Federal FICA-Employee (17,690.53) (269,634.50) 270,089.96 Various (17,235.07) 941 Tax - Paid In January International Shipholding Corporation Federal FICA-Employer (17,374.94) (269,078.64) 269,639.22 Various (16,814.36) 941 Tax - Paid In January International Shipholding Corporation Federal Unemployment (22.75) (4.55) (27.30) FUTA to be Paid January 31, 2017 International Shipholding Corporation Federal Income - (4,000.00) 4,000.00 12/15/2016 - Form 1120 Estimated Tax - Tonnage Tax International Shipholding Corporation Federal 1042 Withholding - (31.99) 31.99 12/22/2016 - 1042 Withholding Tax International Shipholding Corporation State and Local Withholding (17,429.37) (25,927.33) 25,638.06 Various (17,718.64) December State Withholding paid in January International Shipholding Corporation State and Local Sales (331.93) (795.14) 791.85 12/20/2016 (335.22) December Sales and Use Tax to paid January 20th International Shipholding Corporation State and Local Income tax - (12,250.00) 12,250.00 12/15/2016 - SCI Florida and ISH Alabama estimated income tax International Shipholding Corporation State and Local Unemployment (229.71) (324.09) (553.80) SUTA to be Paid January 31, 2017 International Shipholding Corporation State and Local Real Property - (32,137.35) 32,137.35 12/31/2016 - Tower LLC real estate property tax International Shipholding Corporation State and Local Personal Property - (226,428.51) 226,428.51 12/31/2016 - Alabama and Texas Personal Property Tax, Plaquemines Parish Boat and Barge Tax International Shipholding Corporation State and Local Franchise Tax - (4,100.00) 4,100.00 12/15/2016 - NWJ New York and NYC estimated franchise tax International Shipholding Corporation State and Local Other (88,699.00) - - (88,699.00) SCI Florida income tax - Total $ (189,764.05) $ (1,463,128.43) $ 1,462,680.84 $ (190,211.64) 1 The Debtors have not included copies of the tax payment receipts due to the voluminous nature of such documents. Copies will be provided upon request. MOR-4 Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main DocumentEntity Name: International Shipholding Corporation (Consolidating) CaPg 10 of 16 Monthly Operating Report - Southern District of New YorkSummary of Unpaid Post-Petition Debts Reporting Period: December-16 Debtor Name Description Current Days Past Due: Days Past Due: Days Past Due: Days Past Due: Total Notes/ Comments 0-30 31-60 61-90 Over 91 In early January 2017, we paid $8,523.48, $8,605.40 and $336,396.53 of the invoices included in over 91 days past due, 61-90 days past due and 31- 60 days past due catagories, respectively. Remaining amounts are International Shipholding Corporation Accounts Payable $ - $ 412,978.27 $ 777,701.47 $ 302,047.50 $ 63,569.40 $ 1,556,296.64 expected to be paid later in January. International Shipholding Corporation Taxes Payable 47,999.06 47,999.06 N.W. Johnsen & Company, Inc. Taxes Payable 12,242.55 12,242.55 LMS Shipmanagement, Inc. Taxes Payable 28,903.17 28,903.17 Frascati Shops, Inc. Taxes Payable 7,233.68 7,233.68 U.S. United Ocean Services, LLC Taxes Payable 5,134.18 5,134.18 Sulphur Carriers, Inc. Taxes Payable 88,699.00 88,699.00 Total $ 190,211.64 $ 412,978.27 $ 777,701.47 $ 302,047.50 $ 63,569.40 $ 1,746,508.28 MOR-4b Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main DocumentEntity Name: International Shipholding Corporation (Consolidating) CaPg 11 of 1 6 Monthly Operating Report - Southern District of New YorkAccounts Receivable Reconciliation and AgingReporting Period: December-16 Debtor Name AR at the beginning Amount Billed during of the period Period Amounts Collected AR at the end of the during Period reporting period Bad Debts # Days Past Due: 0-30 # Days Past Due: 31-60 # Days Past Due: 61-90 # Days Past Due: Over 91 Total International Shipholding Corporation $ (696.86) $ 100,118.36 $ 100,079.83 $ (658.33) $ - $ - $ - $ - $ (658.33) $ (658.33) Sulphur Carriers, Inc. 1,452,194.37 1,230,982.54 1,438,079.72 1,245,097.19 - 1,230,982.54 - 14,114.65 - 1,245,097.19 Central Gulf Lines, Inc. 3,875,536.86 3,422,166.65 1,601,684.67 5,696,018.84 (17,248.64) 5,028,513.27 398,765.35 172,032.16 113,956.70 5,696,018.84 Waterman Steamship Corporation 1,622,350.73 1,218,529.39 1,218,529.39 1,622,350.73 - 1,622,350.73 - - - 1,622,350.73 N.W. Johnsen & Co. Inc. 43,963.29 10,420.02 20,168.65 34,214.66 - 33,158.52 - - 1,056.14 34,214.66 LMS Shipmanagement, Inc. - - - - - - - - - - U.S. United Ocean Services, LLC 2,154,139.98 2,695,373.19 4,855,705.91 (6,192.74) - - - (6,192.74) - (6,192.74) Frascati Shops, Inc. 296,670.90 138,901.25 44,407.70 391,164.45 (18,774.92) 265,860.80 25,700.52 61,704.91 56,673.14 391,164.45 Gulf South Shipping PTE LTD - 1,279,348.00 1,279,348.00 - - - LCI Shipholding, Inc. 93,000.00 77,566.68 93,066.68 77,500.00 - 77,500.00 - - - 77,500.00 Dry Bulk Australia LTD - - - - - - - - - - Dry Bulk Americas LTD - - - - - - - - - - Marco Shipping Company (PTE) LTD - 98,127.54 98,127.54 - - - - - - - Total $ 9,537,159.27 $ 10,271,533.62 $ 10,749,198.09 $ 9,059,494.80 $ (36,023.56) $ 8,258,365.86 $ 424,465.87 $ 241,658.98 $ 171,027.65 $ 9,059,494.80 MOR-5aPage 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Pg 12 of 16 Case Number: 16-12220 Monthly Operating Report - Southern District of New YorkTaxes Reconciliation and Aging Reporting Period: December-16 Debtor Name # Days Past Due: # Days Past Due: # Days Past Due: # Days Past Due: Total 0-30 31-60 61-90 Over 91 International Shipholding Corporation $ 47,999.06 $ 47,999.06 N.W. Johnsen & Company, Inc. 12,242.55 12,242.55 LMS Shipmanagement, Inc. 28,903.17 28,903.17 Frascati Shops, Inc. 7,233.68 7,233.68 U.S. United Ocean Services, LLC 5,134.18 5,134.18 Sulphur Carriers, Inc. 88,699.00 88,699.00 Total $ 190,211.64 $ - $ - $ - $ 190,211.64 MOR-5b Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 13 of 16 Monthly Operating Report - Southern District of New YorkPayments to Insiders Reporting Period: December-16 Debtor Name Type of Payment Amount Paid Total Paid to Date International Shipholding Corporation Beer, Kenneth H. Board of Director Fees $ - $ 11,875.00 LMS Shipmanagement, Inc. Caire, Peter J. Salary 8,934.02 44,670.10 LMS Shipmanagement, Inc. Caire, Peter J. Travel Expenses - 849.67 LMS Shipmanagement, Inc. Cameron, William M. Salary 14,010.14 70,050.70 LMS Shipmanagement, Inc. Cameron, William M. Travel Expenses 856.49 1,958.40 N.W. Johnsen & Co. Inc. Chambers, Robert T. Salary 13,875.82 69,379.10 N.W. Johnsen & Co. Inc. Chambers, Robert T. Travel Expenses 9,891.16 9,891.16 N.W. Johnsen & Co. Inc. De Benedetto, Daniel T. Salary 6,470.98 32,354.90 N.W. Johnsen & Co. Inc. De Benedetto, Daniel T. Travel Expenses 281.74 1,033.24 International Shipholding Corporation Estrada, Manuel G. Salary 23,825.42 119,127.10 International Shipholding Corporation Estrada, Manuel G. Travel Expenses 1,216.06 5,062.16 LMS Shipmanagement, Inc. Grehan, Brooke Y. Salary 10,711.44 53,557.20 LMS Shipmanagement, Inc. Grehan, Brooke Y. Travel Expenses - 3,021.64 N.W. Johnsen & Co. Inc. Hawkins, Nigel J. Salary 17,303.76 86,518.80 N.W. Johnsen & Co. Inc. Hawkins, Nigel J. Travel Expenses 1,182.67 1,454.61 International Shipholding Corporation Higginbotham, James T. Salary 11,759.10 58,793.40 International Shipholding Corporation Higginbotham, James T. Travel Expenses 194.66 2,756.11 International Shipholding Corporation Johnsen, Erik L. Salary 39,250.92 196,254.60 International Shipholding Corporation Johnsen, Erik L. Travel Expenses 1,719.28 8,236.42 International Shipholding Corporation Johnsen, Neils M. Contractor 10,000.00 60,000.00 International Shipholding Corporation Johnsen, Neils M. Travel Expenses - 3,144.83 U.S. United Ocean Services, LLC Johnston, Peter M. Salary 18,056.48 90,282.40 U.S. United Ocean Services, LLC Johnston, Peter M. Travel Expenses 2,448.69 5,402.87 International Shipholding Corporation Lane, H Merritt Board of Director Fees - 11,875.00 International Shipholding Corporation Lupberger, Edwin A Board of Director Fees - 11,875.00 International Shipholding Corporation McNamara, James J Travel Expenses - 127.90 International Shipholding Corporation McNamara, James J Board of Director Fees - 11,875.00 International Shipholding Corporation Morrissette, Harris V Board of Director Fees - 11,875.00 International Shipholding Corporation Nahas, George A. Salary 11,068.04 55,340.20 International Shipholding Corporation Nahas, George A. Travel Expenses 2,757.60 7,569.75 International Shipholding Corporation Robinson, Thomas L Board of Director Fees - 11,875.00 International Shipholding Corporation Rosenbohm, Sheila D. Salary 12,049.20 60,236.97 International Shipholding Corporation Rosenbohm, Sheila D. Travel Expenses 2,388.93 5,923.06 International Shipholding Corporation Wild, Kevin M. Salary 12,398.20 61,991.00 International Shipholding Corporation Wild, Kevin M. Travel Expenses 664.73 7,479.75 International Shipholding Corporation Wilson, Kevin M. Salary 12,375.48 61,458.58 International Shipholding Corporation Wilson, Kevin M. Travel Expenses - 777.52 MOR-6a Page 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main DocumentEntity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 14 of 16 Monthly Operating Report - Southern District of New YorkPayments to Professionals Reporting Period: December-16 Debtor Name Date of Court Order Amount Approved Amount Paid Total Paid to Date Total Incurred and Authorizing Payment Unpaid International Shipholding Corporation McGlinchey Stafford PLLC 9/21/2016 $ - $ 40,727.08 $ 239,537.60 $ - International Shipholding Corporation Prime Clerk 8/4/2016 - 206,374.40 553,712.93 - International Shipholding Corporation Alix Partners LLP 9/21/2016 - 12,660.34 72,533.83 - International Shipholding Corporation Seward & Kissel LLP 9/21/2016 - 86,766.88 635,778.80 - International Shipholding Corporation Watson Farley & Williams LLP 9/21/2016 - 93,492.70 241,912.57 - International Shipholding Corporation Milbank 9/21/2016 - 665,375.39 1,470,940.37 - International Shipholding Corporation Moore & Van Allen PLLC 9/21/2016 - 58,974.30 359,045.58 - International Shipholding Corporation Vedder Price PC 9/21/2016 - - 144,654.38 - International Shipholding Corporation Simpson Thacher - Bartlet 9/21/2016 - 144,495.27 344,117.27 - International Shipholding Corporation Gulf Atlantic Capital Corporation 9/21/2016 - 10,290.00 48,697.50 - International Shipholding Corporation AMA Capital Partners 11/18/2016 - 90,000.00 90,000.00 - International Shipholding Corporation Blackhill Partners LLC 10/24/2016 - 639,336.49 639,336.49 - International Shipholding Corporation Akin Gump Strauss Hauer & Feld LLP 10/24/2016 - 2,582,341.42 2,582,341.42 - International Shipholding Corporation Pachulski Stang Ziehl & Jones LLP 11/18/2016 - 126,408.35 126,408.35 - International Shipholding Corporation Postlethwaite & Netterville 10/24/2016 - 96,934.34 96,934.34 - Total $ - $ 4,854,176.96 $ 7,645,951.43 $ - MOR-6b Page 1
16-12220-smb Doc 543 Monthly Operating Report - Southern District of New YorkPost-Petition Status of Secured Notes, Leases Payable Reporting Period: December-16 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Case Number: 16-12220Pg 15 of 16 Debtor Name Name of Creditor Scheduled Monthly Payment Amount Paid during Period Total Unpaid Post-Petition Notes/ Comments International Shipholding Corporation Regions Bank $ 192,143.59 $ 192,143.59 $ - Interest International Shipholding Corporation Regions Bank 332,093.00 332,093.00 - Interest International Shipholding Corporation Debtor in Possession Financing 183,967.21 183,967.21 - Interest LCI Shipholding Inc. Citizens Asset Finance 66,848.17 66,848.17 - Interest LCI Shipholding Inc. Capital One 13,992.91 13,992.91 - Interest Central Gulf Lines DVB Bank 143,552.41 434,397.40 - Interest paid quarterly. LCI Shipholding Inc. Capital One 25,000.00 25,000.00 25,000.00 Adequate Protection Payment - paid 1/4/17 LCI Shipholding Inc. Citizens Asset Finance 50,000.00 50,000.00 - Adequate Protection Payment Total $ 1,007,597.29 $ 1,298,442.28 $ 25,000.00 MOR-6cPage 1
16-12220-smb Doc 543 Filed 01/17/17 Entered 01/17/17 16:31:07 Main Document Entity Name: International Shipholding Corporation (Consolidating) Pg 16 of 16 Case Number: 16-12220 Monthly Operating Report - Southern District of New YorkDebtor Questionnaire Reporting Period: December-16 Question # Must be completed each month. If the answer to any of the questions is “Yes”, Yes No provide a detailed explanation of each item. Attach additional sheets if necessary. 1 Have any assets been sold or transferred outside the normal course of business this reporting period? X 2 Have any funds been disbursed from any account other than a debtor in possession account this reporting period? X 3 Is the Debtor delinquent in the timely filing of any post-petition tax returns? X 4 Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies? X 5 Is the Debtor delinquent in paying any insurance premium payment? X 6 Have any payments been made on pre-petition liabilities this reporting period? X 7 Are any post petition receivables (accounts, notes or loans) due from related parties? X 8 Are any post petition payroll taxes past due? X 9 Are any post petition State or Federal income taxes past due? X 10 Are any post petition real estate taxes past due? X 11 Are any other post petition taxes past due? X 12 Have any pre-petition taxes been paid during this reporting period? X 13 Are any amounts owed to post petition creditors delinquent? X 14 Are any wage payments past due? X 15 Have any post petition loans been received by the Debtor from any party? X 16 Is the Debtor delinquent in paying any U.S. Trustee fees? X 17 Is the Debtor delinquent with any court ordered payments to attorneys or other professionals? X 18 Have the owners or shareholders received any compensation outside of the normal course of business? X 2. The Company has a subsidiary that was not a part of the filing that continues to operate and payments are being made in theordinary course of business. 6. The Company has made pre-petition payments to critical vendors, lienholders, employees, and insurance providers aspermitted in the approved interim motions. MOR-7 Page 1
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