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v3.19.1

VESSELS, NET (Tables) | 12 Months Ended
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Dec. 31, 2018
VESSELS, NET [Abstract] |
Vessels, Net | The estimated useful life of a vessel is 25 years from the date the vessel is delivered from the shipyard.
All figures in USD ‘000 |  | 2018 |  |  | 2017 |
Vessels as of January 1 |  |  | 1,769,967 |  |  |  | 1,700,040 |
Additions Vessels |  |  | 169,446 |  |  |  | 69,927 |
Disposals Vessels |  |  | (632,326 | ) |  |  | - |
Drydocking as of January 1 |  |  | 119,303 |  |  |  | 99,153 |
Additions Drydocking |  |  | 8,210 |  |  |  | 20,150 |
Disposals Drydocking |  |  | (75,182 | ) |  |  | - |
Total Vessels and Drydocking |  |  | 1,359,418 |  |  |  | 1,889,270 |
Less Accumulated Depreciation |  |  | (405,660 | )* |  |  | (842,977 | )
Less Accumulated Impairment Loss on Vessels |  |  | - | ** |  |  | (110,480 | )
Vessels, net |  |  | 953,758 |  |  |  | 935,813 |
* | Depreciation charges of $497.0 million related to vessels disposed of in 2018 is excluded
** | Impairment charges of $2.2 million and $110.5 million related to vessels disposed of in 2018 is excluded

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- Definition Tabular disclosure of net book value, accumulated depreciation, and depreciation expense of vessels that are used in the normal conduct of business and not intended for resale. + References No definition available. + Details
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- References No definition available. + Details
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