INTEREST EXPENSE

12 Months Ended

Dec. 31, 2017

11.	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	2017		2016		2015
Interest Expenses, net of capitalized interest		18,286		8,811		7,590
Commitment Fee		760		937		2,025
Amortization of Deferred Financing Costs		1,393		1,382		1,240
Other financial costs		25		40		-
Total Interest Expenses		20,464		11,170		10,855

For the years ended December 31, 2017, 2016 and 2015, $2.5, $1.6 million and $1.0 million of interest expenses were capitalized, respectively.