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FINANCIAL INSTRUMENTS AND OTHER FAIR VALUE DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022 and 2021, are as follows:

All figures in USD ‘000
Recurring:
  
Fair Value
Hierarchy
Level
    
2022
Fair
Value
    
2022
Carrying
Value
    
2021
Fair
Value
    
2021
Carrying
Value
  
Cash and Cash Equivalents
    
1
      
59,583
      
59,583
      
34,739
      
34,739
  
Restricted Cash
    
1
      
3,719
      
3,719
      
9,909
      
9,909
  
2019 Senior Secured Credit Facility including $30 million Accordion Loan
    
2
      
(129,189
)
    
(127,600
)
    
(223,122
)
    
(218,243
)
Financing of 2018-built Vessels
    
2
      
(95,950
)
    
(94,622
)
    
(104,277
)
    
(102,715
)
Financing of 2022 Newbuildings
    2       (84,851 )     (83,815 )     -       -  
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, and the presentation of these vessels is related to the impairment charges recorded in 2021 and presentation of the applicable vessels at their then fair value.