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FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2021
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, 2021 and 2020, are as follows:

All figures in USD ‘000
Recurring:
  
Fair Value
Hierarchy
Level
    
2021
Fair
Value
    
2021
Carrying
Value
    
2020
Fair
Value
    
2020
Carrying
Value
  
Cash and Cash Equivalents
    
1
      
34,739
      
34,739
      
57,847
      
57,847
  
Restricted Cash
    
1
      
9,909
      
9,909
      
4,223
      
4,223
  
2019 Senior Secured Credit Facility including $30 million Accordion Loan
    
2
      
(223,122
)
    
(223,122
)
    
(253,902
)
    
(253,902
)
Financing of 2018-built Vessels
    
2
      
(104,277
)
    
(104,277
)
    
(112,238
)
    
(112,238
)
                                         
Non-recurring
                                       
Vessels* (footnote 4)
    2
       93,710     93,710     -       -  

* Vessels measured at fair value are included as part of the Vessels and Vessel Held for Sale balances of $715.3 million and $15.0 million, respectively, in our consolidated balance sheet as of December 31, 2021.