INTEREST EXPENSES

12 Months Ended

Dec. 31, 2022

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 8.

All figures in USD ‘000	2022		2021		2020
Interest Expenses, net of capitalized interest		23,455		23,392		27,127
Amortization of Deferred Financing Costs		3,600		2,988		4,354
Total Interest Expenses		27,055		26,380		31,481

For the years ended December 31, 2022, 2021 and 2020, $0.8 million, $1.5 million and $0.1 million of interest expenses were capitalized, respectively.