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FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2019
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, 2019 and 2018, are as follows:
 
 
All figures in USD ‘000
 
Fair Value
Hierarchy
Level
  
2019
Fair
Value
  
2019
Carrying
Value
  
2018
Fair
Value
  
2018
Carrying
Value
 
Recurring:
               
Cash and Cash Equivalents
  
1
   
48,847
   
48,847
   
49,327
   
49,327
 
Restricted Cash
  
1
   
12,791
   
12,791
   
-
   
-
 
Credit Facility
  
2
   
-
   
-
   
(313,400
)
  
(313,400
)
2019 Senior Secured Credit Facility*
  
2
   
(291,798
)
  
(291,798
)
  
-
   
-
 
Investment Securities
  
1
   
825
   
825
   
4,197
   
4,197
 
Vessel financing 2018 Newbuildings*
  
2
   
(119,867
)
  
(119,867
)
  
(127,140
)
  
(127,140
)

* The 2019 Senior Secured Credit Facility and Vessel financing 2018 Newbuildings carry a floating LIBOR interest rate, plus a margin and the fair value is assumed to equal the carrying value.