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SHAREHOLDERS' EQUITY (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Jun. 17, 2014
Apr. 30, 2014
Nov. 30, 2013
Apr. 30, 2013
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2007
Authorized Shares [Roll forward]                
Balance at beginning of period (in shares)         180,000,000 90,000,000 90,000,000  
Increase in Authorized Shares (in shares)           90,000,000    
Balance at end of period (in shares)         180,000,000 180,000,000 90,000,000  
Issued and Outstanding Shares [Roll forward]                
Balance at beginning of period, issued (in shares)         89,182,001 75,382,001 52,915,639  
Balance at beginning of period, outstanding (in shares)         89,182,001 75,382,001 52,915,639  
Shares issued (in shares)     9,343,750 11,212,500        
Balance at end of period, issued (in shares)         89,182,001 89,182,001 75,382,001  
Balance at end of period, outstanding (in shares)         89,182,001 89,182,001 75,382,001  
Common Stock [Roll forward]                
Balance at beginning of period         $ 892 $ 754 $ 529  
Shares issued, value           113,433 172,611  
Balance at end of period         892 892 754  
Common Stock [Abstract]                
Net proceeds from underwritten public offering of common shares   $ 113,400 $ 70,900 $ 102,200 0   172,611  
Additional Paid in Capital [Abstract]                
Share premium fund         77,400 77,400    
Reduction of share premium $ 208,200              
Contributed Surplus Account [Abstract]                
Net Income (Loss)         114,627 $ (13,166) $ (105,417)  
Dividend paid         123,000      
Contribution to surplus account         $ 8,400      
Shareholders' Rights Plan [Abstract]                
Preferred stock purchase right         one preferred stock purchase right to purchase one one-thousandth of a share of our Series A Participating Preferred Stock for each outstanding share of its common stock, par value $0.01 per share      
Common Stock, par value (in dollars per share)         $ 0.01     $ 0.01
Stockholders rights, exercise price (in dollars per share)               $ 115
Percentage of common stock ownership               15.00%
Common Stock [Member]                
Issued and Outstanding Shares [Roll forward]                
Shares issued (in shares)           13,800,000 20,556,250  
Common Stock [Roll forward]                
Shares issued, value           $ 138 $ 206  
Contributed Surplus Account [Abstract]                
Net Income (Loss)         $ 0 $ 0 $ 0  
Common Stock [Member] | Scandic [Member]                
Issued and Outstanding Shares [Roll forward]                
Shares issued (in shares)             1,910,112  
Common Stock [Roll forward]                
Shares issued, value             $ 19