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VESSELS, NET | 12 Months Ended
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Dec. 31, 2016
VESSELS, NET [Abstract] |
VESSELS, NET |
3. | VESSELS, NET
Vessels, net, consist of the carrying value of 29 vessels and 24 vessels for the year ended December 31, 2016 and December 31, 2015, respectively. Vessels, net include drydocking costs.
All Figures in USD ‘000 |  | 2016 |  |  | 2015 |
Vessels |  |  | 1,700,040 |  |  |  | 1,530,245 |
Drydocking |  |  | 99,153 |  |  |  | 82,695 |
Total |  |  | 1,799,193 |  |  |  | 1,612,940 |
Less Accumulated Depreciation |  |  | (741,144 | ) |  |  | (650,255 | )
Vessels, net |  |  | 1,058,049 |  |  |  | 962,685 |
Impairment Loss on Vessels The Company has not recorded impairment loss on vessels for the years ended December 31, 2016, 2015 and 2014, 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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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2921-110230 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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