SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2011

12.	SEGMENT INFORMATION

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer who, as of June 30, 2011, reviews the results of the operating segments when making decisions about allocating resources and assessing performance. The segments are: (1) Dry bulk shipping and (2) Chartering brokerage.

The Company's segment information for the six months ended June 30, 2011 and as of December 31, 2010 is as follows:

Six Months Ended June 30, 2011	Dry Bulk Shipping			Chartering Brokerage		Corporate and Eliminations			Consolidated
Sales to unaffiliated customers	$	19,078,039		$	15,094,117	$	(32,196	)	$	34,139,960
Intersegment sales		-			286,019		(286,019	)		-
Net sales		19,078,039			15,380,136		(318,215	)		34,139,960
Costs		13,400,492			13,193,763		(318,215	)		26,276,040
Depreciation and amortization		3,406,764			189		-			3,406,953
Other expenses		2,569,168			98,732		87,534			2,755,434
Operations (loss) income		(298,385	)		2,087,452		(87,534	)		1,701,533
Gain (loss) from discontinued operations		21,670			-		(2,801,208	)		(2,779,538	)
Net (loss) income	$	(276,715	)	$	2,087,452	$	(2,888,742	)	$	(1,078,005	)
June 30, 2011
Identifiable assets	$	102,469,419		$	14,909,630	$	(73,060	)	$	117,305,989

Six Months Ended June 30, 2010	Dry Bulk Shipping		Chartering Brokerage		Corporate and Eliminations			Consolidated
Sales to unaffiliated customers	$	20,411,463	$	11,600,708	$	(48,253	)	$	31,963,918
Intersegment sales		-		-		-			-
Net sales		20,411,463		11,600,708		(48,253	)		31,963,918
Costs		13,191,154		9,954,044		(48,253	)		23,096,945
Depreciation and amortization		3,086,329		-		-			3,086,329
Other expenses		1,345,154		171,890		113,023			1,630,067
Operations income (loss)		2,788,826		1,474,774		(113,023	)		4,150,577
Gain (loss) from discontinued operations		647,893		-		(176,660	)		471,233
Net income (loss)	$	3,436,719	$	1,474,774	$	(289,683	)	$	4,621,810
December 31, 2010
Identifiable assets	$	105,578,923	$	11,538,814	$	(1,079,400	)	$	116,038,337

Information for Company’s sales by geographical area for the six months ended June 30, 2011 and 2010 is as follows:


	Six Months Ended June 30,
	2011		2010
Sales to unaffiliated customers:
Japan, Korea and Russia	$	10,241,988	$	6,392,783
PRC (including Hong Kong)		11,948,986		19,178,350
Southern and Eastern Asia		5,120,994		4,794,588
Other		6,827,992		1,598,197
Total	$	34,139,960	$	31,963,918

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Winland Ocean Shipping Corp 10-Q