VESSELS, NET (Tables)

12 Months Ended

Dec. 31, 2014

VESSELS, NET [Abstract]

Vessels, net

Vessels, net, consist of the carrying value of 22 vessels and 20 vessels for the year ended December 31, 2014 and December 31, 2013, respectively. Vessels, net include drydocking costs.

All Figures in USD ‘000	Vessels	Drydocking	Total
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
Carrying Value December 31, 2014	882,221	27,771	909,992
Accumulated Depreciation December 31, 2014	524,651	42,994	567,645
Depreciation Expense 2014	64,229	15,931	80,160
Acquisition of vessels 2014	73,604	300	73,904