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ACCRUED LIABILITIES (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
ACCRUED LIABILITIES [Abstract]    
Accrued Interest $ 1,730,000 $ 184,000
Accrued Expenses 8,613,000 4,624,000
Accrued voyage expenses 0 [1] 7,834,000 [1]
Total as of December 31 10,343,000 12,642,000
Unpaid drydocking costs, capitalized $ 4,000,000 $ 300,000
Number of vessels temporarily operated directly in the spot market 0 3
[1] 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 under similar arrangements as of December 31, 2012.