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VESSELS (Tables) | 12 Months Ended
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Dec. 31, 2023
VESSELS [Abstract] |
Vessels | Vessels consists of the carrying value of 20 and 19 vessels for the year ended December 31, 2023, and December 31, 2022, respectively. Vessels includes capitalized drydocking costs.
All figures in USD ‘000 |  | 2023 |  |  | 2022 |
Vessels Cost as of January 1 |  |  | 1,078,996 |  |  |  | 1,244,148 |
Additions Vessels |  |  | 73,526 |  |  |  | 117,677 |
Disposals Vessels |  |  | - |  |  |  | (282,829 | )
Drydocking Cost as of January 1 |  |  | 68,324 |  |  |  | 80,047 |
Additions Drydocking |  |  | 11,275 |  |  |  | 12,774 |
Disposals Drydocking |  |  | - |  |  |  | (24,497 | )
Total Cost Vessels and Drydocking |  |  | 1,232,121 |  |  |  | 1,147,320 |
Less Accumulated Depreciation |  |  | (449,464 | ) |  |  | (398,113 | )
Less Accumulated Impairment Loss on Vessels |  |  | (14,073 | ) |  |  | (14,073 | )
Net Book Value Vessels as of December 31 |  |  | 768,584 |  |  |  | 735,134 |

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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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