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FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2016
FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES [Abstract]  
Carrying value of estimated fair value of financial instruments
The carrying value and estimated fair value of the Company`s financial instruments at December 31, 2016 and 2015, are as follows:
 
 
All figures in USD ‘000
 
Fair Value
Hierarchy
Level
  
2016
Fair
Value
  
2016
Carrying
Value
  
2015
Fair
Value
  
2015
Carrying
Value
 
Cash and Cash Equivalents
  
1
   
82,170
   
82,170
   
29,889
   
29,889
 
Credit Facility
  
3
   
(447,000
)
  
(447,000
)
  
(330,000
)
  
(330,000
)