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RELATED PARTY TRANSACTIONS (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Related Party Transaction [Line Items]      
Warrants received (in shares)     833,333
Warrants exercise price (in dollars per share)     $ 15.00
Percentage of warrants vesting increments     20.00%
Percentages of increase in volume weighted average price     10.00%
Minimum business days required for exercise level of VWAP     10 days
VWAP minimum trading volume of exercise levels     $ 2,000
Minimum [Member]      
Related Party Transaction [Line Items]      
Percentage of common shares increase     25.00%
Maximum [Member]      
Related Party Transaction [Line Items]      
Percentage of common shares increase     65.00%
Scandic American Shipping Ltd [Member]      
Related Party Transaction [Line Items]      
New amount of management fee due to decrease in the period   $ 150,000  
Board Member [Member]      
Related Party Transaction [Line Items]      
Accounts payable $ 0 0  
Costs and expenses, related party 100 100 $ 100
Immediate Family Member of the Chairman [Member]      
Related Party Transaction [Line Items]      
Costs and expenses, related party 100 100  
Nordic American Offshore Limited [Member]      
Related Party Transaction [Line Items]      
Costs and expenses, related party $ 2,100 $ 2,200 $ 300
Increment exercisable percentage   20.00%  
Success fees services   $ 1,500