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FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023 and 2022, are as follows:
All figures in USD ‘000 Recurring: |  | Fair Value Hierarchy Level |  |  | 2023 Fair Value |  |  | 2023 Carrying Value |  |  | 2022 Fair Value |  |  | 2022 Carrying Value |
Cash and Cash Equivalents |  |  | 1 |  |  |  | 31,078 |  |  |  | 31,078 |  |  |  | 59,583 |  |  |  | 59,583 |
Restricted Cash |  |  | 1 |  |  |  | 2,283 |  |  |  | 2,283 |  |  |  | 3,719 |  |  |  | 3,719 |
2019 Senior Secured Credit Facility including $30 million Accordion Loan |  |  | 2 |  |  |  | (84,640 | ) |  |  | (84,155 | ) |  |  | (129,189 | ) |  |  | (127,600 | )
Financing of 2018-built Vessels |  |  | 2 |  |  |  | (87,239 | ) |  |  | (86,145 | ) |  |  | (95,950 | ) |  |  | (94,622 | )
Financing of 2022-built Vessels |  |  | 2 |  |  |  | (79,351 | ) |  |  | (78,425 | ) |  |  | (84,851 | ) |  |  | (83,815 | )
Financing of Nordic Hawk |  |  | 2 |  |  |  | (53,540 | ) |  |  | (52,871 | ) |  |  | - |  |  |  | - |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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