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GENERAL AND ADMINISTRATIVE EXPENSES (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
GENERAL AND ADMINISTRATIVE EXPENSES [Abstract]      
Management fee to related party $ 500 $ 363 $ 307
Directors and officers insurance 74 86 80
Salary and wages 3,282 2,904 2,859
Audit, legal and consultants 1,007 1,099 624
Legal fees - Nordic Galaxy 0 2,362 1,500
Administrative services provided by related party 3,930 3,821 3,686
Other fees and expenses 1,718 1,631 1,576
Total General and Administration expense with cash effect 10,511 12,266 10,632
Compensation - Restricted shares to Manager 1,540 67 2,838
Share-based Compensation 1,258 1,320 60
Deferred compensation plan 1,391 1,741 2,450
Total General and Administrative expense without cash effect 4,189 3,128 5,348
Total, end of period $ 14,700 $ 15,394 $ 15,980