FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2013

FINANCIAL INSTRUMENTS [Abstract]

Carrying value of estimated fair value of financial instruments

The carrying value of estimated fair values of the Company's financial instruments at June 30, 2013, and December 31, 2012 are as follows:

	June 30, 2013							December 31, 2012
All figures in USD '000	Fair Value Hierarchy Level (1)	Fair Value			Carrying Value			Fair Value			Carrying Value
Cash and Cash Equivalent	Level 1		71,125			71,125			55,511			55,511
Marketable Securities	Level 1		-			-			549			549
Working capital, Orion Tanker pool (non-current assets)			-			-			36,987			36,987
2012 Credit Facility			(210,000	)		(210,000	)		(250,000	)		(250,000	)

(1) The fair value hierarchy level is only applicable to each financial instrument on the balance sheet that are recorded at fair value on a recurring basis