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VESSELS (Tables)

6 Months Ended

Jun. 30, 2021

VESSELS [Abstract]

Vessels

Subsequent to June 30, 2021, the Company has announced the intention to dispose of at least two Suezmax tankers built in 2000 and 2002. The book value of the vessels built in 2000 and 2002 range from $14.8 million to $28.7 million and the Company expects to record a loss upon the disposal of the vessels. An agreement has been made to sell one of the vessels. However, the transaction has not been consummated as of the date of this report.

All figures in USD ‘000		January 1 – June 30, 2021				January 1 - December 31, 2020
Vessels and Drydocking			1,399,754				1,398,690
Less Accumulated Depreciation			(571,791	)			(537,348	)
Vessels, net			827,963				861,342

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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.

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