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VESSELS (Tables)
 12 Months Ended
Dec. 31, 2024
VESSELS [Abstract]  
Vessels
Vessels consists of the carrying value of 20 vessels for the year ended December 31, 2024, and December 31, 2023, respectively. Vessels includes capitalized drydocking costs.

All figures in USD ‘000
  
2024
    
2023
  
Vessels Cost as of January 1
    
1,152,522
      
1,078,996
  
Additions Vessels
    
870
      
73,526
  
Disposals Vessels
     -    
-
Drydocking Cost as of January 1
    
79,599
      
68,324
  
Additions Drydocking
    
1,874
      
11,275
  
Disposals Drydocking
    
-
   
-
Total Cost Vessels and Drydocking
    
1,234,865
      
1,232,121
  
Less Accumulated Depreciation
    
(505,519
)
    
(449,464
)
Less Accumulated Impairment Loss on Vessels
    
(14,073
)
    
(14,073
)
Net Book Value Vessels as of December 31
    
715,273
      
768,584