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LIQUIDITY, CAPITAL RESOURCES AND SUBSEQUENT EVENTS (Details textuals)
$ in Millions
12 Months Ended
Dec. 31, 2017
USD ($)
Newbuilding
Dec. 31, 2016
USD ($)
Newbuilding
Dec. 31, 2015
USD ($)
Newbuilding
Jul. 31, 2015
USD ($)
Liquidity And Capital Resources [Line Items]        
Cash position $ 134.0 $ 76.0 $ 168.0  
Undrawan credit facilities $ 271.0 $ 190.0 $ 75.0  
Newbuildings on order for delivery | Newbuilding 10 4 7  
Total outstanding CAPEX related to newbuildings $ 307.0 $ 149.0 $ 224.0  
Mortgage debt and bank loans (Note 2,15,16,18) 719.1 $ 671.6 $ 767.2  
Scheduled minimum payments on mortgage debt and bank loans in 2018 93.0      
Working capital facility        
Liquidity And Capital Resources [Line Items]        
Undrawan credit facilities 75.0     $ 75.0
Term facility I        
Liquidity And Capital Resources [Line Items]        
Mortgage debt and bank loans (Note 2,15,16,18) 401.0      
Term facility II        
Liquidity And Capital Resources [Line Items]        
Mortgage debt and bank loans (Note 2,15,16,18) 115.0      
Bilateral borrowing facility | China export import Bank        
Liquidity And Capital Resources [Line Items]        
Undrawan credit facilities 115.0      
Bilateral borrowing facility | Danish ship finance        
Liquidity And Capital Resources [Line Items]        
Undrawan credit facilities 81.0      
Bilateral loan agreements | Danish ship finance        
Liquidity And Capital Resources [Line Items]        
Mortgage debt and bank loans (Note 2,15,16,18) 158.0      
Bilateral loan agreements | ING        
Liquidity And Capital Resources [Line Items]        
Mortgage debt and bank loans (Note 2,15,16,18) $ 46.0