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VESSELS AND EQUIPMENT, NET (Tables)
 12 Months Ended
Dec. 31, 2014
Property and equipment:  
Components of vessels and equipment, net
Useful lives applied in depreciation are as follows:

Vessels
40 to 50 years
Deferred drydocking expenditure
two to five years
Office equipment and fittings
three to six years
Vessels and equipment  
Property and equipment:  
Components of vessels and equipment, net
(in thousands of $)
2014

2013

Cost
1,813,170

1,043,439

Accumulated depreciation
(164,282
)
(231,724
)
Net book value
1,648,888

811,715