INTEREST EXPENSES

12 Months Ended

Dec. 31, 2018

INTEREST EXPENSES [Abstract]

INTEREST EXPENSES

10. INTEREST EXPENSES

Interest expenses consist of interest expense on the long-term debt, the commitment fee and amortization of deferred financing costs related to the Credit Facility described in Note 9.

All amounts in USD ‘000	2018		2017		2016
Interest Expenses, net of capitalized interest		29,753		18,286		8,811
Commitment Fee		3,325		760		937
Amortization of Deferred Financing Costs		1,470		1,393		1,382
Other financial costs		1		25		40
Total Interest Expenses		34,549		20,464		11,170

For the years ended December 31, 2018, 2017 and 2016, $2.6 million, $2.5 million and $1.6 million of interest expenses were capitalized, respectively.