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VESSELS (Tables)
6 Months Ended
Jun. 30, 2016
VESSELS [Abstract]  
Vessels, net

The estimated useful life of a vessel is 25 years from the date the vessel is delivered from the shipyard.

All figures in USD ‘000

  June 30,
2016
   December 31,
2015
 

Vessels

   1,611,436     1,530,245  

Drydocking

   86,161     82,695  
  

 

 

   

 

 

 

Total

   1,697,597     1,612,940  
  

 

 

   

 

 

 

Less Accumulated Depreciation

   (693,251   (650,255
  

 

 

   

 

 

 

Vessels, net

   1,004,346     962,685