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PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2011
PREPAID EXPENSES AND OTHER CURRENT ASSETS [Abstract] |
Prepaid expenses and other current assets |
All figures in USD ‘000 |  | 2011 |  |  | 2010 |
Prepaid expenses |  |  | 2,714 |  |  |  | 1,894 |
Deposit on Contracts, Nordic Galaxy |  |  | 9,000 |  |  |  | 9,000 |
Loans to seller, Nordic Galaxy |  |  | - |  |  |  | 26,809 |
Deferred Financing Charges |  |  | 653 |  |  |  | 653 |
Voyage in Progress - temporarily spot chargers |  |  | 5,233 |  |  |  | - |
Working Capital, cooperative arrangements |  |  | 12,779 |  |  |  | - |
Other |  |  | 1,389 |  |  |  | 1,416 |
Total as per December 31, |  |  | 31,768 |  |  |  | 39,772 |

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