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SHARE-BASED COMPENSATION PLAN (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended 12 Months Ended
Aug. 05, 2011
Feb. 23, 2011
Mar. 31, 2013
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Fair value of shares vested         $ 0.0 $ 1.7  
Equity Incentive Plan 2011 [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Total compensation cost for the period       $ 0.4 $ 1.1 $ 2.1  
Vesting requirement lifted for restricted shares (in shares)           174,000  
Restricted shares -Employees and Non-Employees [Roll Forward]              
Granted during the year (in shares)             400,000
Equity Incentive Plan 2011 [Member] | Minimum [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based compensation arrangement shares cliff vesting period       4 years      
Equity Incentive Plan 2011 [Member] | Maximum [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Share-based compensation arrangement shares cliff vesting period       5 years      
Employees [Member]              
Restricted shares -Employees and Non-Employees [Roll Forward]              
Non-vested at beginning of period (in shares)       226,000      
Granted during the year (in shares)       0      
Vested during the year (in shares)       (193,000)      
Forfeited during the year (in shares)       0      
Non-vested at end of period (in shares)       33,000 226,000    
Weighted-average grant-date fair value [Abstract]              
Non-vested at beginning of period (in dollars per share)       $ 22.00      
Granted during the year (in dollars per share)       0      
Vested during the year (in dollars per share)       24.08      
Forfeited during the year (in dollars per share)       0      
Non-vested at end of period (in dollars per share)       $ 9.84 $ 22.00    
Restricted Stock Awards [Member] | Scandic American Shipping Ltd. [Member] | Equity Incentive Plan 2011 [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Total compensation cost for the period     $ 1.1        
Restricted Stock Awards [Member] | Employees and Non Employees [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Common restricted shares repurchased       10,000      
Restricted Stock Awards [Member] | Employees and Non Employees [Member] | Equity Incentive Plan 2011 [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Fair value of shares issued to manager (in dollars per share) $ 18.05 $ 23.88          
Share-based compensation arrangement shares cliff vesting period       4 years      
Common shares repurchased at fair value (in shares)       33,000      
Unrecognized compensation cost related to unvested restricted stock       $ 0.3      
Weighted average period to recognize the unrecognized compensation cost       2 years 1 month 6 days      
Fair value of shares vested       $ 2.0      
Restricted shares -Employees and Non-Employees [Roll Forward]              
Granted during the year (in shares) 74,000 326,000