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SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

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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- References

No definition available.

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

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