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VESSELS, NET

12 Months Ended

Dec. 31, 2014

VESSELS, NET [Abstract]

VESSELS, NET

3. VESSELS, NET

Vessels, net, consist of the carrying value of 24 vessels and 22 vessels for the year ended December 31, 2015 and December 31, 2014, respectively. Vessels, net include drydocking costs.

All Figures in USD '000		2015				2014
Vessels			1,530,245				1,406,872
Drydocking			82,695				70,765
Total			1,612,940				1,477,637
Less Accumulated Depreciation			(650,255	)			(567,645	)
Vessels, net			962,685				909,992

Impairment Loss on Vessels

The Company has not recorded impairment loss on vessels for the years ended December 31, 2015, 2014 and 2013, respectively. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of each of its vessels may not be recoverable.

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Vessels that are used in the normal conduct of business and not intended for resale. This disclosure may include vessels equipment accounting policies, a schedule of vessels and equipment gross, additions, deletions, transfers and other changes, depreciation, and amortization expense, net, accumulated depreciation and amortization expense and useful lives.

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