VESSELS, NET (Tables)

12 Months Ended

Dec. 31, 2013

VESSELS, NET [Abstract]

Vessels, net

Vessels, net, consist of the carrying value of 20 vessels including drydocking costs.

All figures in USD '000	Vessels		Drydocking		Total
Carrying Value December 31, 2012		933,424		31,431		964,855
Accumulated depreciation December 31, 2012		397,641		15,822		413,463
Impairment Loss on Vessel 2012		12,030		-		12,030
Depreciation expense 2012		62,795		6,424		69,219

Carrying Value December 31, 2013	872,846	38,583	911,429
Accumulated depreciation December 31, 2013	460,422	27,063	487,485
Depreciation expense 2013	62,781	11,241	74,022