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ACCRUED LIABILITIES | 12 Months Ended
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Dec. 31, 2011
ACCRUED LIABILITIES [Abstract] |
ACCRUED LIABILITIES |
14. | ACCRUED LIABILITIES
All figures in USD ‘000 |  | 2011 |  |  | 2010 |
Accrued Interest |  |  | 184 |  |  |  | 83 |
Accrued Expenses |  |  | 4,624 |  |  |  | 3,028 |
Accrued Drydock expenses Nordic Harrier |  |  | – |  |  |  | 949 |
Accrued voyage expenses *) |  |  | 7,834 |  |  |  | – |
Total as of December 31, |  |  | 12,642 |  |  |  | 4,060 |
*) | As of December 31, 2011, we temporarily operated three vessels in the spot market, by the pool manager through cooperative arrangements. The accrued voyage expenses of $7.8 million represents accrued port costs, bunkers expenses and other voyage related expenses. No vessels were operated in the spot market by the pool manager through cooperative arrangements during 2010.
The increase of accrued expenses as of December 31, 2011, compared to December 31, 2010, is related to the increase in the size of our fleet by three vessels during 2011.

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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