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LEASES 2 (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
vessel
Dec. 31, 2013
vessel
Dec. 31, 2012
Dec. 31, 2011
Vessels in Fleet, Fixed Rate Time Charter 0vlccf_VesselsinFleetFixedRateTimeCharter 1vlccf_VesselsinFleetFixedRateTimeCharter    
Vessels in Fleet, Index linked Time Charter 3vlccf_VesselsinFleetIndexlinkedTimeCharter 2vlccf_VesselsinFleetIndexlinkedTimeCharter    
Cost of vessels $ 915,060us-gaap_PropertyPlantAndEquipmentGross $ 305,581us-gaap_PropertyPlantAndEquipmentGross $ 305,581us-gaap_PropertyPlantAndEquipmentGross $ 657,890us-gaap_PropertyPlantAndEquipmentGross
Accumulated depreciation 62,395us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment 42,834us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment 31,755us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment 221,617us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
Vessels leased to third parties [Member]        
Cost of vessels 222,900us-gaap_PropertyPlantAndEquipmentGross
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= vlccf_VesselsLeasedToThirdPartiesMember
216,900us-gaap_PropertyPlantAndEquipmentGross
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= vlccf_VesselsLeasedToThirdPartiesMember
   
Accumulated depreciation $ 38,000us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= vlccf_VesselsLeasedToThirdPartiesMember
$ 28,600us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= vlccf_VesselsLeasedToThirdPartiesMember