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EQUITY METHOD INVESTMENTS (Details) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Schedule of Equity Method Investments [Line Items]    
Number of tankers withdrawn from pool 9  
Acquisition cost $ 50,000 $ 50,000
Accumulated Net Income 221,000 11,000
Carrying value 271,000 61,000
Orion Tankers Ltd [Member]
    
Schedule of Equity Method Investments [Line Items]    
Share capital 100,000  
Shares issued (in shares) 10,000,000  
Share capital, par value (in dollars per share) $ 0.01  
Number of tankers withdrawn from pool 9  
Net result included in interest income 200,000 10,000
Investment in joint venture $ 500,000