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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] |
Effect on Condensed Consolidated Balance Sheet, Statement of Operations, and Cash Flow Statement |
Effect on the Consolidated Balance sheets as of December 31, 2018 |
In thousands of USD |  | As reported |  |  | Adjustments |  |  | Amounts before ASC606 adoption |
ASSETS |  |  |  |  |  |  |  |  |
Total Current Assets |  |  | 112,945 |  |  |  | 6,991 |  |  |  | 119,936 |
Voyages in Progress |  |  | 15,075 |  |  |  | 8,111 |  |  |  | 23,186 |
Prepaid Expenses |  |  | 3,830 |  |  |  | (1,120 | ) |  |  | 2,710 |
Total Non-Current Assets |  |  | 958,166 |  |  |  | 0 |  |  |  | 958,166 |
TOTAL ASSETS |  |  | 1,071,111 |  |  |  | 6,991 |  |  |  | 1,078,102 |
EQUITY AND LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Total Shareholders’ Equity |  |  | 602,031 |  |  |  | 6,265 |  |  |  | 608,296 |
Total Current Liabilities |  |  | 36,290 |  |  |  | 726 |  |  |  | 37,016 |
Accrued Voyage Expenses |  |  | 5,063 |  |  |  | 726 |  |  |  | 5,789 |
Total Non-Current Liabilities |  |  | 432,790 |  |  |  | 0 |  |  |  | 432,790 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  | 1,071,111 |  |  |  | 6,991 |  |  |  | 1,078,102 |
Effect on the Consolidated Statements of Operations as of December 31, 2018 |
In thousands of USD |  | As reported |  |  | Adjustments |  |  | Amounts before ASC606 adoption |
Voyage Revenues |  |  | 289,016 |  |  |  | 2,819 |  |  |  | 291,835 |
Voyage Expenses |  |  | (165,012 | ) |  |  | (627 | ) |  |  | (165,639 | )
Net Operating Loss |  |  | (38,616 | ) |  |  | 2,193 |  |  |  | (36,423 | )
Net Loss * |  |  | (95,306 | ) |  |  | 2,193 |  |  |  | (93,113 | )
Total Comprehensive Loss |  |  | (95,438 | ) |  |  | 2,193 |  |  |  | (93,245 | )
Effect on the Consolidated Statement of Cash Flows as of December 31, 2018 |
In thousands of USD |  | As reported |  |  | Adjustments |  |  | Amounts before ASC606 adoption |
Net Loss |  |  | (95,306 | ) |  |  | 2,193 |  |  |  | (93,113 | )
Voyages in Progress |  |  | (5,059 | ) |  |  | (2,819 | ) |  |  | (7,879 | )
Prepaid Expenses and Other Current Assets |  |  | 1,837 |  |  |  | 503 |  |  |  | 2,340 |
Accounts Payable and Accrued Liabilities |  |  | (7,112 | ) |  |  | 124 |  |  |  | (6,988 | )
Net Cash (Used In)/Provided by Operating Activities |  |  | (16,103 | ) |  |  | - |  |  |  | (16,103 | )

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