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VALUE OF CHARTER PARTY CONTRACTS (Details) - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Increase (Decrease) In Favorable Charter Party Contracts [Roll Forward]            
Opening balance $ 103,376,000 $ 0        
Acquired as a result of the Merger 0 127,090,000        
Amortization charge 27,277,000 23,714,000 $ 0      
Total 76,099,000 103,376,000 0      
Less: current portion       $ (22,413,000) $ (28,829,000) $ (30,417,000)
Non current portion       53,686,000 74,547,000 96,673,000
Favorable Charter Party Contracts, 2017 22,413,000          
Favorable Charter Party Contracts, 2018 18,732,000          
Favorable Charter Party Contracts, 2019 18,732,000          
Favorable Charter Party Contracts, 2020 12,148,000          
Favorable Charter Party Contracts, 2021 4,074,000          
Favorable Charter Party Contracts, Thereafter 0          
Favorable Charter Party Contracts, Total 103,376,000 0 0 76,099,000 103,376,000  
Increase (Decrease) In Unfavorable Charter Party Contracts [Roll Forward]            
Opening balance 6,144,000 0        
Acquired as a result of the Merger 0 7,543,000        
Amortization charge 674,000 1,399,000 0      
Total 5,470,000 6,144,000 0      
Less: current portion       (672,000) (674,000) (1,567,000)
Non current portion       4,798,000 5,470,000 $ 5,976,000
Unfavorable Charter Party Contracts, 2017 672,000          
Unfavorable Charter Party Contracts, 2018 672,000          
Unfavorable Charter Party Contracts, 2019 672,000          
Unfavorable Charter Party Contracts, 2020 674,000          
Unfavorable Charter Party Contracts, 2021 672,000          
Unfavorable Charter Party Contracts, Thereafter 2,108,000          
Unfavorable Charter Party Contracts, Total $ 6,144,000 $ 0 $ 0 $ 5,470,000 $ 6,144,000