INTEREST EXPENSES

12 Months Ended

Dec. 31, 2025

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	2025		2024		2023
Interest Expenses, net of capitalized interest		35,007		29,889		29,040
Amortization of Deferred Financing Costs		745		850		1,458
Total Interest Expenses		35,752		30,739		30,498

There are no interest expenses capitalized for the years ended December 31, 2025, 2024 and 2023, respectively.