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FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES (Tables) | 12 Months Ended
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Dec. 31, 2018
FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES [Abstract] |
Carrying Value of Estimated Fair Value of Financial Instruments | The carrying value and estimated fair value of the Company`s financial instruments at December 31, 2018 and 2017, are as follows:
All figures in USD ‘000 |  | Fair Value Hierarchy Level |  |  | 2018 Fair Value |  |  | 2018 Carrying Value |  |  | 2017 Fair Value |  |  | 2017 Carrying Value |
Recurring: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  |  | 1 |  |  |  | 49,327 |  |  |  | 49,327 |  |  |  | 58,359 |  |  |  | 58,359 |
Credit Facility*** |  |  | 2 |  |  |  | (313,400 | ) |  |  | (313,400 | ) |  |  | (391,641 | ) |  |  | (391,641 | )
Investment in Associate |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 11,992 |  |  |  | 12,164 |
Investment Securities |  |  | 1 |  |  |  | 4,197 |  |  |  | 4,197 |  |  |  | - |  |  |  | - |
Vessel financing Newbuildings*** |  |  | 2 |  |  |  | (127,140 | ) |  |  | (127,140 | ) |  |  | - |  |  |  | - |
Non-recurring: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vessels* (note 3) |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | 100,000 |  |  |  | 100,000 |
Goodwill** |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 0 |  |  |  | 0 |
*Vessels measured at fair value were includes as part of the Vessels balance of $935.8 million in our consolidated balance sheet as of December 31, 2017 **Goodwill was written down to zero as of December 31, 2017. The most important assumptions and estimates applied by us in the goodwill impairment assessment included estimated future cash flows from our vessel operations, which is mainly driven by estimated daily time charter equivalents (TCE), operating expenses and the discount rate. The estimated future cash flows for revenues and operating expenses applied in the goodwill impairment model were aligned with the cash flows applied in the vessel impairment model. *** The Credit Facility and Vessel financing Newbuildings carry a floating LIBOR interest rate, plus a margin and the fair value is assumed to equal the carrying value.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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