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VESSELS, NET (Details) $ in Thousands | 1 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2018 USD ($) Vessel | Jul. 31, 2018 Vessel | Dec. 31, 2018 USD ($) Vessel Building | Dec. 31, 2017 USD ($) Vessel Building | Dec. 31, 2016 USD ($)
VESSELS, NET [Abstract] |  |  |  |  |  |  |
Number of vessels | Vessel | 23 |  |  | 23 |  | 30 |
Residual value | $ 8,000 |  |  | $ 8,000 |  | $ 4,000 |
Depreciation charge reduction due to change in estimate |  |  |  | $ 10,000 |  |  |
Estimated useful life |  |  |  | 25 years |  |  |
Vessels, net [Abstract] |  |  |  |  |  |  |
Total | 1,359,418 |  |  | $ 1,359,418 |  | 1,889,270 |
Less Accumulated Depreciation | (405,660) | [1] |  | (405,660) | [1] | (842,977) |
Less Accumulated Impairment Loss on Vessels | 0 | [2] |  | 0 | [2] | (110,480) |
Vessels, Net | $ 953,758 |  |  | 953,758 |  | 935,813 |
Depreciation charges disposed |  |  |  | 497,000 |  |  |
Impairment loss on vessels |  |  |  | $ 2,168 |  | $ 110,480 | $ 0
Number of vessels delivered to the company | Vessel | 3 |  |  | 3 |  |  |
Deposits paid for vessels | $ 50,100 |  |  | $ 50,100 |  |  |
Number of new buildings | Building |  |  |  | 3 |  | 3 |
Deposits released as part of financial arrangement |  |  |  | $ 12,505 |  | $ 0 | 0
Number of vessels disposed of | Vessel |  |  | 6 | 10 |  |  |
Loss on disposal of vessels |  |  |  | $ 6,619 |  | 0 | 0
Number of vessels delivered | Vessel | 2 |  | 8 |  |  |  |
Gross proceeds from sale of vessels |  |  |  | 97,600 |  |  |
Loss from disposal of inventory |  |  |  | 5,700 |  |  |
Transaction costs |  |  |  | 2,300 |  |  |
Proceeds from sale of vessels |  |  |  | $ 89,624 |  | 0 | $ 0
Number of vessels the company taken through periodical maintenance survey | Vessel | 2 |  |  | 2 |  |  |
Vessels [Member] |  |  |  |  |  |  |
Vessels, net [Abstract] |  |  |  |  |  |  |
Additions |  |  |  | $ 169,446 |  | 69,927 |
Disposals |  |  |  | (632,326) |  | 0 |
Total | $ 1,769,967 |  |  | 1,769,967 |  | 1,700,040 |
Drydocking [Member] |  |  |  |  |  |  |
Vessels, net [Abstract] |  |  |  |  |  |  |
Additions |  |  |  | 8,210 |  | 20,150 |
Disposals |  |  |  | (75,182) |  | 0 |
Total | $ 119,303 |  |  | $ 119,303 |  | $ 99,153 |
[1] | Depreciation charges of $497.0 million related to vessels disposed of in 2018 is excluded
[2] | Impairment charges of $2.2 million and $110.5 million related to vessels disposed of in 2018 is excluded

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