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INTEREST EXPENSE (Tables) | 12 Months Ended
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Dec. 31, 2016
INTEREST EXPENSE [Abstract] |
Schedule of interest expense | Interest expenses consist of interest expense on the long-term debt, the commitment fee and amortization of deferred financing costs related to the Credit Facility described in Note 10.
All amounts in USD ‘000 |  | 2016 |  |  | 2015 |  |  | 2014 |
Interest Expenses, net of capitalized interest |  |  | 8,811 |  |  |  | 7,590 |  |  |  | 8,686 |
Commitment Fee |  |  | 937 |  |  |  | 2,025 |  |  |  | 2,330 |
Amortization of Deferred Financing Costs |  |  | 1,422 |  |  |  | 1,240 |  |  |  | 1,228 |
Other financial costs |  |  | 40 |  |  |  | - |  |  |  | - |
Total Interest Expenses |  |  | 11,170 |  |  |  | 10,855 |  |  |  | 12,244 |

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