LONG-TERM DEBT AND CURRENT PORTION OF LONG TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2018

LONG-TERM DEBT AND CURRENT PORTION OF LONG TERM DEBT [Abstract]

Aggregate Annual Principal Payments of Debt

As of December 31, 2018 the aggregate annual principal payments required to be made under the Company’s debt facilities are as follows:

Debt payments in $'000s	Total		2019		2020		2021		2022		2023		More than 5 years
Credit Facility (1)		313,400		313,400		-		-		-		-		-
Financing of Newbuildings (2)		127,140		7,273		7,629		7,960		8,327		8,711		87,239
Total		440,540		320,673		7,629		7,960		8,327		8,711		87,239

(1) Refers to obligation to repay indebtness outstanding as of December 31, 2018 under the Credit Facility

(2) Refers to obligation to repay indebtness outstanding as of December 31, 2018 for three newbuildings delivered in 2018