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SHARE-BASED COMPENSATION PLANS (Details) (USD $)
In Millions, except Share data, unless otherwise specified
1 Months Ended 9 Months Ended 12 Months Ended 1 Months Ended 9 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 1 Months Ended 9 Months Ended 1 Months Ended
Aug. 05, 2011
Feb. 23, 2011
Sep. 30, 2011
Dec. 31, 2010
Feb. 23, 2011
Restricted Stock Awards [Member]
Employees and Directors and Non-Employees [Member]
Sep. 30, 2011
Restricted Stock Awards [Member]
Employees and Directors and Non-Employees [Member]
Sep. 30, 2011
Restricted Stock Awards [Member]
Employees [Member]
Dec. 31, 2010
Restricted Stock Awards [Member]
Employees [Member]
Sep. 30, 2011
Restricted Stock Awards [Member]
Non-Employees [Member]
Dec. 31, 2010
Restricted Stock Awards [Member]
Non-Employees [Member]
Oct. 24, 2011
Scandic American Shipping Ltd. [Member]
Restricted Stock Awards [Member]
Aug. 05, 2011
Scandic American Shipping Ltd. [Member]
Restricted Stock Awards [Member]
Sep. 30, 2011
Scandic American Shipping Ltd. [Member]
Restricted Stock Awards [Member]
Sep. 30, 2010
Scandic American Shipping Ltd. [Member]
Restricted Stock Awards [Member]
Feb. 23, 2011
Scandic American Shipping Ltd. [Member]
Restricted Stock Awards [Member]
Employees and Directors and Non-Employees [Member]
Management agreement [Abstract]                              
Manager's right to ownership of company's total outstanding shares (in hundredths)                         2.00%    
Common Stock, par value (in dollars per share)     $ 0.01 $ 0.01                 $ 0.01    
Restricted shares issued to the Manager (in shares)                     4,612   573,694 93,878  
Number of years after grant before restricted shares can be transferred (in years)                         3Y    
Share based compensation [Abstract]                              
Restricted shares issued to the Manager, employees, Directors, and non-employees (in shares)     400,000   226,000             74,000     326,000
Average fair value of shares issued (in dollars per share)                           $ 30.24  
Total compensation cost for the period       $ 0.06   $ 1.00                  
Individuals in management and Board members participating in incentive plan     23                        
Percentage of allocated shares to the outstanding shares of the company (in hundredths)     0.80%                        
Vesting period of shares cliff (in years)         4Y             5Y      
Intrinsic value of restricted shares outstanding           5.8                  
Unrecognized compensation cost related to unvested restricted stock           $ 7.3                  
Weighted average period to recognize the unrecognized compensation cost (in years)           3.67                  
Restricted shares -Employees and Non-Employees [Roll Forward]                              
Non-vested at beginning of period (in shares)             0 2,425 0 1,750          
Granted during the year (in shares)             163,000 0 237,000 0          
Vested during the year (in shares)             0 2,425 0 1,750          
Forfeited during the year (in shares)             0 0 0 0          
Non-vested at end of period (in shares)             163,000 0 237,000 0          
Weighted-average grant-date fair value [Abstract]                              
Non-vested at beginning of period (in dollars per share)             $ 0 $ 31.99 $ 0 $ 31.99          
Granted during the year (in dollars per share) $ 18.05 $ 23.88         $ 23.88 $ 0 $ 22.06 $ 0          
Vested during the year (in dollars per share)             $ 0 $ 0 $ 0 $ 0          
Forfeited during the year (in dollars per share)             $ 0 $ 0 $ 0 $ 0          
Non-vested at end of period (in dollars per share)             $ 23.88 $ 0 $ 22.06 $ 0