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INTEREST EXPENSES

12 Months Ended

Dec. 31, 2023

INTEREST EXPENSES [Abstract]

INTEREST EXPENSES

9. INTEREST EXPENSES

Interest expenses consist of interest expense on the long-term debt and amortization of deferred financing costs related to the facilities described in Note 8.

All figures in USD ‘000		2023				2022				2021
Interest Expenses, net of capitalized interest			29,040				23,455				23,392
Amortization of Deferred Financing Costs			1,458				3,600				2,988
Total Interest Expenses			30,498				27,055				26,380

For the years ended December 31, 2023, 2022 and 2021, $nil, $0.8 million and $1.5 million of interest expenses were capitalized, respectively.

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- References

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- Definition

The entire disclosure for interest income and interest expense for enterprises that derive a significant portion of their revenue from interest collected on investments, loans, and securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.1-12)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

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