SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2011

SHAREHOLDERS' EQUITY [Abstract]

Shareholder's equity

All figures in USD ´000, except number of shares	Authorized Shares		Issued and Out- standing Shares		Common Stock
Balance as of December 31, 2008		51,200,000		34,373,271		344
Common Shares Issued in Follow-on Offering				3,450,000		35
Compensation – Restricted Shares				70,408		–
Common Shares Issued in Follow-on Offering				4,225,000		42
Compensation – Restricted Shares				86,225		1
Balance as of December 31, 2009		51,200,000		42,204,904		422
Common Shares Issued in Follow-on Offering				4,600,000		46
Compensation – Restricted Shares				93,878		1
Balance as of December 31, 2010		51,200,000		46,898,782		469
Common Shares Issued, 2011 Equity Incentive Plan				400,000		4
Compensation – Restricted Shares				4,612		0
Increased authorized share capital		38,800,000
Balance as of December 31, 2011		90,000,000		47,303,394		473