3.	VESSELS, NET

Vessels, net, consist of the carrying value of 29 vessels and 24 vessels for the year ended December 31, 2016 and December 31, 2015, respectively. Vessels, net include drydocking costs.

All Figures in USD ‘000	2016			2015
Vessels		1,700,040			1,530,245
Drydocking		99,153			82,695
Total		1,799,193			1,612,940
Less Accumulated Depreciation		(741,144	)		(650,255	)
Vessels, net		1,058,049			962,685

Impairment Loss on Vessels

The Company has not recorded impairment loss on vessels for the years ended December 31, 2016, 2015 and 2014, respectively. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of each of its vessels may not be recoverable.