VESSELS, NET (Tables)

12 Months Ended

Dec. 31, 2011

VESSELS, NET [Abstract]

Vessels, net

All figures in USD ‘000	Vessels		Drydocking		Total
Net Book Value December 31, 2010		971,018		17,245		988,263
Accumulated depreciation December 31, 2010		275,744		19,782		295,526
Depreciation expense 2010		53,181		9,364		62,545
Net Book Value December 31, 2011		1,005,147		17,646		1,022,793
Accumulated depreciation December 31, 2011		334,846		9,398		344,244
Depreciation expense 2011		59,102		5,524		64,626

Capitalized costs

The table below shows total capitalized costs related to the two newbuildings delivered in 2011:

All figures in USD ‘000	2011		2010
Newbuilding - Nordic Breeze
Instalment		64,750		35,700
Capitalized interest		417		191
Capitalized cost		2,091		183
Total Newbuilding – Nordic Breeze as per December 31,		67,258		36,074

All figures in USD ‘000		2010
Newbuilding – Nordic Zenith
Instalment	64,750		35,700
Capitalized interest	501		191
Capitalized cost	2,035		160
Total Newbuilding – Nordic Breeze as per December 31,	67,286		36,051
Total as per December 31,	134,544		72,125