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

12 Months Ended

Dec. 31, 2019

As of December 31, 2019 the aggregate annual principal payments required to be made under the Company’s debt facilities are as follows:

Debt payments in $'000s	Total		2020		2021		2022		2023		2024		More than 5 years
Senior Secured Credit Facility (1)		291,798		18,749		15,305		15,305		15,305		227,134		-
Financing of 2018 Newbuildings (2)		119,867		7,630		7,960		8,327		8,711		9,138		78,101
Total		411,665		26,379		23,265		23,632		24,016		236,272		78,101

(1)

Refers to obligation to repay indebtness outstanding as of December 31, 2019 under the 2019 Senior Secured Credit Facility

(2)

Refers to obligation to repay indebtness outstanding as of December 31, 2019 for financing of the 2018 Newbuildings