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VESSELS AND EQUIPMENT, NET (Details) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2015 USD ($) vessel building | Dec. 31, 2014 USD ($) vessel | Dec. 31, 2013 USD ($)
Components of vessels and equipment, net: |  |  |
Cost | $ 2,572,740 | $ 1,813,170 |
Accumulated depreciation | (236,596) | (164,282) |
Net book value | 2,336,144 | 1,648,888 |
Depreciation and amortization expense | $ 73,732 | $ 49,811 | $ 36,871
Vessels and equipment |  |  |
Components of vessels and equipment, net: |  |  |
Number of owned shipping vessels | vessel | 16 | 13 |
Depreciation and amortization expense | $ 73,700 | $ 49,800 | $ 36,900
Vessels |  |  |
Components of vessels and equipment, net: |  |  |
Number of newbuilds delivered | building | 4 |  |
Amounts pledged as collateral | $ 2,543,000 | 1,997,700 |
Drydocking |  |  |
Components of vessels and equipment, net: |  |  |
Cost | 43,100 | 43,900 |
Accumulated depreciation | (18,200) | (11,300) |
Office equipment |  |  |
Components of vessels and equipment, net: |  |  |
Cost | $ 2,800 | $ 1,400 |

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