INTEREST EXPENSES

12 Months Ended

Dec. 31, 2021

INTEREST EXPENSES [Abstract]

INTEREST EXPENSES

9. INTEREST EXPENSES

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

All figures in USD ‘000	2021		2020		2019
Interest Expenses, net of capitalized interest		23,392		27,127		34,018
Amortization of Deferred Financing Costs		2,988		4,354		4,372
Total Interest Expenses		26,380		31,481		38,390

For the years ended December 31, 2021, 2020 and 2019, $1.5 million, $0.1 million and $0.0 million of interest expenses were capitalized, respectively.